first reconcile after importing quicken data

braughtpresz's Avatar

braughtpresz

21 Jun, 2009 12:59 AM

my import from quicken(windows) to MD for mac went well. I have entered new transactions and now want to reconcile my checking account. What should i do when the beginning balance is way off from last reconcile (which was in quicken)? should i proceed with reconcile and try to work it out or is there a way to adjust the beginning balance?

  1. 1 Posted by Brian Adler on 21 Jun, 2009 01:06 AM

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    You can adjust the beginning balance via the "account menu" -> edit account -> beginning balance.

    Sincerely,

    Brian Adler

  2. 2 Posted by Ben Spencer on 21 Jun, 2009 01:07 AM

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    Hi

    Click on an account to bring up the transaction register for that account. Select Edit from the Account menu. From the resulting window you can set the "initial Balance" for the account.

    Sincerely

    Ben Spencer

  3. 3 Posted by Brian Adler on 21 Jun, 2009 01:07 AM

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    "beginning balance" should actually be "initial balance"

  4. 4 Posted by Paul S on 22 Aug, 2009 04:03 AM

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    I imported my transactions from Mac Quicken 2007 beginning with 1/1/08. In the "Account Info: Wachovia" window I have the start date as 12/30/2007, Initial Balance as 2703.51 which was the balance I had on that date in Quicken.

    After confirming two months worth of transactions I went to reconcile for the first time.
    The first time I tried to balance my checkbook I had a beginning of $-50,422.85. Where did that number come from? I have tried adjusting the balance in various ways but it messes up the register balance. Why can't I change it the beginning statement balance in the Reconcile Account box?

    What do I do now? I have purchased MD and spent a considerable amount of time correcting entries that didn't import correctly.

  5. 5 Posted by Paul S on 22 Aug, 2009 04:32 PM

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    Don't know why it posted 3x. Only clicked "Comment" button once.

    I got it fixed after finally entering transactions that didn't make it from Quicken export and reconciling the entire account.

    All is well! Or at least with that account!

  6. 6 Posted by Ben Spencer on 23 Aug, 2009 02:53 PM

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    Hi Paul

    I am sorry for the inconvenience that you have experienced.

    For reference the "beginning statement balance" when reconciling is the sum of all of the transactions that are marked as cleared plus the initial debt/balance. Such that if you want the "beginning statement balance" when reconciling to be equal to your start debt you should ensure that you do not have any transactions marked as cleared on the account. You can do this by selcting all the transactions with ctrl-A right click and select "Mark as Uncleared"

    Did the missing transactions have anything in common that might have been the cause of them not being exported form quicken? I ask such that I might be better able to assist users who experience a similar problem.

    Sincerely

    Ben Spencer

  7. 7 Posted by PGS on 24 Aug, 2009 03:28 PM

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    Ben,

    I figured out the "beginning statement balance" problem after I
    entered all the missing transactions from checking.

    Mac Quicken 2007 import:
    YES! There was a pattern to the missing transactions! Because I do
    online banking for all my bills 90% of my handwritten checks are to my
    church. In Quicken I had a category named "SJN" with the payee also as
    "SJN". When I set up MD I had the default category for assigning
    transactions to "SJN". NONE of my imported transactions with the
    category "SJN" came into MD. I tried importing account names only then
    the transactions but that didn't work either. Also, it seems as though
    many transactions that had a memo also got dropped in the import.
    Specifically a category called "Medical" with a sub-category called
    "Doctor". I had memos for each one of those which also didn't come in.
    That happened for other transactions that had a memo as well. All of
    the online banking transactions came in correctly with the proper
    category assigned and marked as cleared. The online banking
    transactions were the only ones that imported as cleared.

    Other Macintosh notes:

    The security price history could work better. I could enter historical
    prices for a particular security but I had to enter the current price
    manually to update my portfolio. It seems like MD should automatically
    use the last price historical price as the current price. Entering the
    current price for each security could be burdensome.

    Related to investments. I also had entered a historical price for a
    security, entered that same price in the current price but when I went
    back to the home screen it showed a price from the previous month. I
    couldn't get it to update by reentering. It was only after quitting MD
    and reopening that the price was updated.

    Attaching securities to investment accounts is awkward. If I have an
    IRA or any other investment account I shouldn't have to attach a
    security to the account before I make a transaction. I should be able
    to select from the security list while entering the transaction.

    Thanks again for your assistance with the Wachovia problem. I'll see
    if I can play with MD a bit more as I found another bug where only the
    MD pulldown menu was visible. I had to close the account window by
    clicking the yellow button, clicking to the Finder then reopening the
    window to get the rest of the pulldown menus working.

    Paul Scibona

  8. 8 Posted by Ben Spencer on 24 Aug, 2009 04:00 PM

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    Hi Paul

    Thanks for the feedback. I am sorry Moneydance didn't meet your needs.

    Sincerely

    Ben Spencer

  9. 9 Posted by wgbreil_sandia on 11 Oct, 2009 10:43 PM

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    I imported an 11 MB file from Mac Quicken 2007 with transactions dating back to 1993 into MD and experienced the same problem with my first attempt to reconcile a checking account. The Beginning Statement Balance came up as -$46665.26, despite the fact that the register matched the Quicken register entries. After reading the comments in this discussion, I double-checked that all the appropriate transactions had a green checkmark. In desperation, I did a cmd-A to select all transactions in the account, right-clicked and selected "Mark as Uncleared". I then selected all, right-clicked and selected "Mark as Cleared". I then selected the small number of transactions that were uncleared in the transfer from Quicken and marked them uncleared. Cmd-B then gave the correct Beginning Statement Balance for reconciling.

  10. Angie Rauscher closed this discussion on 23 Apr, 2010 11:46 PM.

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