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Selecting include pending credit card transactions is reducing my card balance

RobI

Selecting pending transactions in Elan card balance is doing the opposite. According to

Balance does not include pending $6844.36

Pending spending transactions $2203.31

Balance WITH with pending included falls to $4641.05.

Balance should have increased not decreased.

First time I've noticed this balance calculation issue. Its behaving like bank account not a credit card balance which is a negative number

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Comments

DryHeat

There's currently a lot of confusion over how this "balance type" thing works. I think they are working on the names and descriptions to try to sort it out. In the meantime, could you say which of the two Balance Resolution options below you have selected for the account?

Note: I'm not asking about what the label says under the account balance. (Like "Balance w/ pending") There may be a problem with that label staying in sync with the option you have actually chose.

RobI

I'm currently using the second one. 'Includes them in balance'

Coach Jon

Hello @RobI,

Thanks for reaching out! We are aware of some confusion regarding the Balance options in Quicken Simplifi, and our team is working on it.

Regarding the issue at hand, could you confirm your current account balance so we can better assist you?

RobI

Thanks. This does appear to be the situation in this case

Some big drops in pending amounts from last night's original post

As of now, the account balance in Quicken is showing as $8966.62. This is with the second option selected.

The Credit card account web site is showing exactly the same number but states that this excludes pending transactions, Here is their explanation .

Coach Jon

Hello @RobI,

Thank you for the information. I am glad the balance is at least correct. If you select the first Balance Resolution option, does the balance reflect differently for you?

RobI

The balance is the same when changed to select the first Balance Resolution option. I also have pending transactions of $98.04 showing in the transaction list but not yet reflecting in the displayed account balance

Coach Jon

Thank you @RobI,

I can confirm that this issue has been reported in the community previously, and our product team is working on a resolution. You can follow this thread for any updates going forward on this issue:

https://community.simplifimoney.com/discussion/15063/does-the-account-specific-balance-type-setting-actually-do-anything

We will be sure to keep everyone updated there!

RobI

Just a closing update from usage over the last week. I turned off updates using pending transaction on my credit card and I find the balances remain correct. The only exception when things can get out of step is for a few hours each morning before Quicken syncs prior pending transactions with the card account (this seems to be updated around noon in my case).