Reconciliation Frustration (Q DLX 2005 PC)

Posted by _pub01 on November 8, 2006, 9:17 pm

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Hi all,

I have a question about reconciling a credit card account in Quicken
2005. I have tried to find the answer in the help menu, but have not.

I have gone months without using Quicken. I've not kept up over time
with transactions but have now entered all of them. For the account in
question, I have verified that every transaction since I got the card
is now in the register.

Even so, when I try to reconcile, I get an alert that entries will be
needed to allow the reconciliation and I don't want those. It seems it
wants to make entries in the 1000's of dollars which will, I assume,
throw off my reports.

I guess I reconciled in the past, and maybe that's the reason for the
issue, but all I want to do now is start fresh.

Can anyone tell me how to do that? I want to reconcile without big
adjusting entries.

Thanks!

Posted by gklatv on November 9, 2006, 7:09 am

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Go back to the first month since your last successful reconciliation
and start from there.
Go month to month with the corresponding statement. Do not proceed to
the following month until you've done with the one before - somewhere
you'll find the discrepancy.

_pub01@evanthibeault.com wrote:

> Hi all,

> I have a question about reconciling a credit card account in Quicken

> 2005. I have tried to find the answer in the help menu, but have not.

> I have gone months without using Quicken. I've not kept up over time

> with transactions but have now entered all of them. For the account in

> question, I have verified that every transaction since I got the card

> is now in the register.

> Even so, when I try to reconcile, I get an alert that entries will be

> needed to allow the reconciliation and I don't want those. It seems it

> wants to make entries in the 1000's of dollars which will, I assume,

> throw off my reports.

> I guess I reconciled in the past, and maybe that's the reason for the

> issue, but all I want to do now is start fresh.

> Can anyone tell me how to do that? I want to reconcile without big

> adjusting entries.

> Thanks!

Posted by Lisa C on November 9, 2006, 9:07 am

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> _pub01@evanthibeault.com wrote:

>> Hi all,

>> I have a question about reconciling a credit card account in Quicken

>> 2005. I have tried to find the answer in the help menu, but have not.

>> I have gone months without using Quicken. I've not kept up over time

>> with transactions but have now entered all of them. For the account in

>> question, I have verified that every transaction since I got the card

>> is now in the register.

>> Even so, when I try to reconcile, I get an alert that entries will be

>> needed to allow the reconciliation and I don't want those. It seems it

>> wants to make entries in the 1000's of dollars which will, I assume,

>> throw off my reports.

>> I guess I reconciled in the past, and maybe that's the reason for the

>> issue, but all I want to do now is start fresh.

>> Can anyone tell me how to do that? I want to reconcile without big

>> adjusting entries.

> Go back to the first month since your last successful reconciliation

> and start from there.

> Go month to month with the corresponding statement. Do not proceed to

> the following month until you've done with the one before - somewhere

> you'll find the discrepancy.

Well, that's one way (the most accurate) to solve the problem. But you still
might have problems because of Quicken's "Smart Reconcile" which goes out of
whack if you change the CLR status of a previously reconciled transaction.

You can try to reset the 'smart reconcile'. Bring up the reconcilliation
window for the first un-reconciled month and mark all cleared transactions
and let Quicken make the adjusting entries. Delete the adjustments and reset
the smart reconcile by manually reconciling a transaction. Click anywhere
in a reconciled transaction to select it. Click in the CLR column to change
the reconcilliation status from R to blank. You should get a warning (ignore
it). Save the changes. Now, change the CLR column back to 'R'. You should
get a warning about resetting smart reconcile (which is what you want to
do).

At this point check that the reconciled balance in your Quicken register
matches the balance on the statement you started with. If not, find where
you are missing transactions to account for the discrepancy.

Posted by _pub01 on November 9, 2006, 10:13 am

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Yeah, this is getting to my issue. Currently me reconcile window says
the last reconciliation was last month since I did attempt to reconcile
the account to my October statement. Even though I canceled the process
as I saw what it wanted me to do.

In addition, in an effort to try to reset the reconciliation process I
went in and marked all the transactions as unreconciled.

You can see the mess I'm in.

I'll get back to it tonight and try your suggestions.
Lisa C wrote:

> > _pub01@evanthibeault.com wrote:

> >> Hi all,

> >>

> >> I have a question about reconciling a credit card account in Quicken

> >> 2005. I have tried to find the answer in the help menu, but have not.

> >>

> >> I have gone months without using Quicken. I've not kept up over time

> >> with transactions but have now entered all of them. For the account in

> >> question, I have verified that every transaction since I got the card

> >> is now in the register.

> >>

> >> Even so, when I try to reconcile, I get an alert that entries will be

> >> needed to allow the reconciliation and I don't want those. It seems it

> >> wants to make entries in the 1000's of dollars which will, I assume,

> >> throw off my reports.

> >>

> >> I guess I reconciled in the past, and maybe that's the reason for the

> >> issue, but all I want to do now is start fresh.

> >>

> >> Can anyone tell me how to do that? I want to reconcile without big

> >> adjusting entries.

> >

> > Go back to the first month since your last successful reconciliation

> > and start from there.

> > Go month to month with the corresponding statement. Do not proceed to

> > the following month until you've done with the one before - somewhere

> > you'll find the discrepancy.

> >

> Well, that's one way (the most accurate) to solve the problem. But you still

> might have problems because of Quicken's "Smart Reconcile" which goes out of

> whack if you change the CLR status of a previously reconciled transaction.

> You can try to reset the 'smart reconcile'. Bring up the reconcilliation

> window for the first un-reconciled month and mark all cleared transactions

> and let Quicken make the adjusting entries. Delete the adjustments and reset

> the smart reconcile by manually reconciling a transaction. Click anywhere

> in a reconciled transaction to select it. Click in the CLR column to change

> the reconcilliation status from R to blank. You should get a warning (ignore

> it). Save the changes. Now, change the CLR column back to 'R'. You should

> get a warning about resetting smart reconcile (which is what you want to

> do).

> At this point check that the reconciled balance in your Quicken register

> matches the balance on the statement you started with. If not, find where

> you are missing transactions to account for the discrepancy.