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CIT account showing wrong balance (edited)

Marquette42

When the connection to CIT was broken last week my account shows the wrong balance. This happened overnight with no change in the transactions. I switched it to manual hoping that would fix the issue but it's still incorrect. I downloaded the transactions and the total from the transactions matches what I expected. Instead of showing a positive balance (which matches the sum of the transactions) it's showing almost double the value but in the negative. for example if the account should show +$5k it's showing -$10k.

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Marquette42

Just to clarify the account is currently a manual savings account. It was a CIT automated account (and hopefully will be again once the CIT/Simplifi integration is restored). Prior to the feed going down the account was accurate. Once the feed went down and the account disconnected the account flipped over and now shows a falsely negative balance.

Coach Natalie

@Marquette42, thanks for reaching out to the Community with this issue!

Based on your description, here is what I think is going on —

The balance became incorrect when connected to the bank due to the connection issue
When switching the account to "manual", Quicken Simplifi then uses the sum of your transactions to calculate the balance
Since connected accounts typically don't start with an opening balance transaction, as the balance is designed to stay in sync with the bank regardless of the transactions in the account, you likely did not have an accurate starting point

This recently happened to me with a different bank when I needed to make it manual while a connection issue was being worked on. To resolve it, I entered a manual "balance adjustment" transaction. The 'Balance Adjustment' category can be used for this, as it will consider the transaction neutral and keep it out of Reports and the Spending Plan. If it needs to be a positive amount, you can enter a plus sign in front of the amount when creating the transaction.

When the connection issue is resolved and you are able to reconnect your account, the "balance adjustment" transaction will then have no impact on your balance, as it will be synced with the bank once again.

Let us know if this works for you!

Marquette42

Thanks, good suggestion for a temp fix. That wasn't the issue as all transactions including opening balance were there. But to your point kind of irrelevant, simply entered a manual transaction to right the ship and move on till the sync is restored is the easy pragmatic approach.