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Credit card Reconciliations

Years ago, the credit card reconciliation dialog was like the current checking reconciliation window (i.e., it asked for the previous balance and the ending balance). At some point, Intuit changed Quicken so credit card reconciles now require that Charges, Payments and the Ending Balance be entered.

Does anyone have any idea what these two entries are supposed to do?

Accounts seem to reconcile fine if I put 0 into the Charges and Payments fields and the closing balance from the bank statement into the Ending Balance field.

Thanks

Mike

Reply to
Mike Blake-Knox
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I never understood the reason for input into those fields - I always input zero into each one and moved on - never gave it much thought except about how annoying it was.

But I cannot recall a time when the credit card reconciliation did NOT work that way.

Reply to
Kobac

Just to be sure you know (I'm quite sure you probably do, but I'd be remiss in not mentioning) that you don't need to enter ANYTHING in a 'reconciliation' dialog if you use the ONLINE method to do so if you can.

Makes life a lot easier. But YMMV.

Reply to
Andrew

Actually, I have been using the online reconciliation feature for the past few years, but I didn't think of mentioning it since it did not directly relate to Mike's question.

But it's a good point to bring up. I reconcile all of my accounts online

- much better than having to wait until statements are ready!

Reply to
Kobac

I's been a long time since I used paper statements, but I seem to recall that by having those numbers, Quicken could help you troubleshoot a problematic reconcilation. It's been a while and I don't remember exactly how it worked. I just tried to re-create a situation that used the values but I couldn't get it to be complex enough. I used zero for all bot the final balance most of the time toward the end of my paper statement days.

Reply to
Jim Nugent

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