Quicken has incorrect checking balance
I have really confused my Quicken but writing up a problem helps with the solution. I will give it a couple of days more to see if the problem is caused by lagging or pending transaction before contacting support. A CD matured at my bank, I moved $30,000 to checking and renewed the remainder in a new CD. The next day I transferred $30,000 from the bank to Apple Saving using Wallet. Apple Savings applied the transfer immediately but Quicken which only showed $30,000, dropping all savings before the transfer. The next morning Quicken had the correct Apple Savings amount matching Wallet. The problem is Quicken is showing $30,000 less in checking than the bank is showing, showing I spent an additional $60 this month I did not spend, and transfers are not marked correct. My bank does not how send any transactions to Quicken of CDs. The first CD never showed anything except the original deposit because the bank doesn’t pay anything until maturity. However, now quicken is showing the new CD amount and still no transactions. Anybody have an easy fix for Quicken or a better reason for my quicken bank balance being $30,000 less?
Comments
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Hello @N4KHQ,
Thanks for reaching out! This seems like we may need more information in order to clarify what specifically is happening here for you in Quicken Simplifi. Could you please provide screenshots showing the problem, so that we may better understand?
Thank you,
Coach Jon
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I transferred $30,000 from a maturing cd to checking and renewed the cd. I then transferred the $30,000 to to apple savings. Quicken removed $60,000 for my checking account. It should have only removed $30,000.
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I moved the money twice and Quicken did not record either move as a transfer, spending is messed up.
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Hello @N4KHQ,
Thank you for the screenshot. To clarify, the balance in Quicken Simplifi is incorrect compared to what is showing on your bank's website, correct? Are the transactions you mentioned still pending? Is this Checking account manual or connected within Quicken Simplifi? If they are still pending, and the account is connected, this may be a case of waiting to see if the balance corrects itself after they clear.
-Coach Jon
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Yes on bank balance in Simplifi incorrect. No Manual accounts and One pending transaction. Good point on waiting.
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@Coach Jon Simplifi balances are now correct for all accounts after everything cleared. The problem is my bank does not send any transactions on CDs. Simplifi only shows the original deposit under savings. There are no manual accounts. The checking account recorded the deposit as income and thinks it's money spent which messes up Net Income. The CD part moved to checking was $833.52 more than the $30,000 moved to saving which may be art of the problem. There are two transfers in question. One from CD to checking and one from checking to Apple Savings. Simplifi was showing I spend $60,000 too much but after a day or two it changed to $30,000 because the deposit to checking moved to savings. The CD just dropped in value and the checking got the interest plus a little of the CD and no transactions are found for the CD. Can Simplifi auto automatically correct spending at the end of the month? If not how do I fix the net income.
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Hello @N4KHQ,
Thanks for the follow-up. If your bank is not sending certain transactions, and you have confirmed this, I would suggest tracking the account manually to make sure that the account balance and transactions are correct going forward. You may also want to verify that Quicken Simplifi isn't double-counting any pending transactions for the account. If they are, you can disable Quicken Simplifi from counting pending transactions in the balance so they're not being double-counted.
I hope this helps,
Coach Jon
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The only activity is when the CD matures, so I don't want to make it manual. I would prefer to just make the deposit from the CD a transfer but not sure how to make the change.
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Hello @N4KHQ,
If you would prefer that the transaction that downloads comes in as a transfer instead of a deposit, you can always create a transaction rule to assign the category you want to a payee and change it accordingly. We have a great article here on how to do that:
Thanks,
Coach Jon
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@Coach Jon thanks for the link but a transaction rule was not the fix. All I had to do was change the category of the deposit to transfer and select the CD from the popup.
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