Thank you Babette, Dick, and Elizabeth very, very much for your comments. I
appreciate not only the instructions, but the understanding that these types
of problems have arisen for some of you as well, or that you don't even
download the transactions. I will study your suggestions and hopefully be
able to act on some of them. I have already compared my Q transactions
carefully with the bank's transactions, but I will go through them again.
My bank made a change recently in how it displays them-instead of all being
listed in one continuous list I now need to click either recent
transactions, recent statement, or previous statement. This sounds like it
shouldn't present a problem, but coincidentally my problems started around
the time they made that change.
I did decide to try to reconcile to the paper statement, but Quicken won't
accept my editing of the correct statement balance or the ending date, so I
can't do it. Is there something I can do to get it to allow me to put in the
correct balance and ending date? The feature to balance to the online
statement doesn't seem to work either, but I'd rather not use that, anyway.
I've already once allowed quicken to make an adjustment-about a month ago.
That worked fine for a short time-the following balance was zero, but then
the problem started up anew.
I will look into all of this in the coming week and will get back to you,
hopefully with good results, or maybe with more questions.
Thank you, and may you all enjoy this weekend.
Irma
From: ggcsquicksig-bounce@xxxxxxxxxxxxx
[mailto:ggcsquicksig-bounce@xxxxxxxxxxxxx] On Behalf Of Babette Bloch
Sent: Saturday, April 04, 2015 5:15 PM
To: ggcsquicksig@xxxxxxxxxxxxx
Subject: [ggcsquicksig] Re: big trouble reconciling
Irma, Dick, Elizabeth, et al - Hi and Good Peach, Happy Easter and a good
weekend if nothing else fits!
Re reconciling problems with Credit Card Accounts:
First of all, reconciling to the on line balance has never enchanted me.
That balance represents only cleared transactions and rarely corresponds to
your Statement Balance. Probably the reason Irma's transactions described
below hadn't downloaded, was because at the time she first downloaded, they
had not cleared yet. In addition, yes, sometimes everything that appears on
a statement doesn't download from the FI!
In either Bank accounts or credit card accounts, when you download and then
accept a transaction into your register, it is marked "cleared", because the
only way it can be downloaded is because it came into the account at the FI
as a credit or debit...that is the meaning of "cleared". If you entered a
transaction manually into the register, it would not be cleared until the
bank sees it. This would appear in Quicken when it downloaded and you
matched the downloaded transaction to the one you'd entered manually.
A transaction does not appear as Reconciled until you use the Reconcile
feature and actually let it balance to either the statement or credit care
statement closing balance. If you've opted to use the on-line reconcile, it
will become an "R" when the balance of selected transactions matches the
on-line balance. Maybe using "always reconcile to on-line balance does that
automatically without going through the Reconcile feature screens. I don't
know, because I've never used on-line balances.
Since I pay all my credit card balances in full each month, frankly, I never
bother using Reconcile for my Credit Card accounts. As long as I show a
zero balance after itemizing the charges from a given statement vs. the
payment for that statement, I know all is correct. If it's not zero, I go
looking for duplicates or errors. If you have fees and partial payments,
you might need to use reconcile. However, I prefer reconciling to my
statement and not to the on-line balance.
If you can't find any duplicates or mistakes, just let Quicken make an
adjustment to reconcile, if you want to go on using reconcile.
It used to be that they said once you'd started with on-line Reconcile you
could not change back to reconcile to statement. However, new entries in
the support forums for recent Quicken versions indicate you can do so.
Babette
On Fri, 3 Apr 2015 15:48:05 -0700 "Irma " <irmbo@xxxxxxxxxxx
<mailto:irmbo@xxxxxxxxxxx> > writes:
Hi Babette,
(I realize the timing of this request for help is not good, being that this
is a holiday weekend.)
I'm having an awful time reconciling my visa account in Quicken 2014.
Usually when I finish downloading there are no outstanding charges.
However, now nothing balances. I found a few transactions that hadn't
downloaded, so I went back to the bank list of transactions and downloaded
the missing items. They are now successfully downloaded but are designated
as cleared, as opposed to reconciled (from January-this problem has been
building since then). With each one the difference between the cleared
balance and the statement balance got larger. The difference is now $1000.
A couple of transactions were duplicates. This surprised me, because
generally a transaction only downloads once. I deleted the duplicates.
When I open the Reconcile Online Account tab it doesn't allow me to put in
the March ending balance-instead it has a fixed amount that is supposedly my
current ending balance.
Should I reconcile it with the online balance?
Thanks,
Irma
