Previous Balance Incorrect


S

Skip B

I spend a god deal of time last weekend updating and balancing accounts (ok,
so I was lazy for a few months). So my statement for January came in for my
main checking account and to my surprise, it says the last time I balanced
was July. When I decided to do it all again, it brought up the wrong
starting balance. Thinking I could correct by putting the correct balances
in, it let me re-balance the July statement, but the starting balance once
more is incorrect for the next statement. I'm afraid to go any further. None
of the other accounts is experiencing this issue. Has anyone ever
experienced this? If so, how does one fix this?

Thanks...Skip
 
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C

Cal Learner-- MVP

I spend a god deal of time last weekend updating and balancing accounts (ok,
so I was lazy for a few months). So my statement for January came in for my
main checking account and to my surprise, it says the last time I balanced
was July. When I decided to do it all again, it brought up the wrong
starting balance. Thinking I could correct by putting the correct balances
in, it let me re-balance the July statement, but the starting balance once
more is incorrect for the next statement.
Do not change "Total amount you owed last month". That should be
the algebraic sum of all Reconciled statements, which would be the
balance you left off with the last time you balanced. Into "Total
amount you owe this month", enter balance from web statement. See
How Money Calculates the Starting Balance
http://support.microsoft.com/default.aspx?scid=KB;EN-US;138960

If that balance is off, then it would seem that something was marked
Reconciled that should not have been, or something that was marked
Reconciled got changed to not reconciled.


I'm afraid to go any further. None
of the other accounts is experiencing this issue. Has anyone ever
experienced this? If so, how does one fix this?
===================Bonnie Synhorst said=======================
|Balancing can be frustrating. .. My rule of thumb is to avoid
|changing the starting statement balance that it asks for. If you
|do this, it will try to make an adjustment that you may not have
|needed to make (if you were balancing months out of order, for
|instance). I recommend balancing month by month starting from the
|earliest date after you are sure that nothing is marked with an R.
|
|Just remember, the opening balance it asks for is a calculation of
|the opening account balance plus or minus any reconciled
|transactions.
==========================================

If you have such transactions, you will want to get rid of them if
you have the real transaction data.

If the transactions are there, and you know the balance is correct
now, you could declare an account balanced by marking all entries
balanced. Select to show only unreconciled transactions. Sort by
date, and go to the oldest transaction. Hold down Cntl+Shift+M and
let auto-repeat work thru the transactions until none are left
showing. Then balance making the starting and ending balance match
the known balance. Choose the balance date to be the day after your
last transaction.

Thereafter, follow the normal procedure.
 
J

Jim

I spend a god deal of time last weekend updating and balancing accounts (ok,
so I was lazy for a few months). So my statement for January came in for my
main checking account and to my surprise, it says the last time I balanced
was July. When I decided to do it all again, it brought up the wrong
starting balance. Thinking I could correct by putting the correct balances
in, it let me re-balance the July statement, but the starting balance once
more is incorrect for the next statement. I'm afraid to go any further. None
of the other accounts is experiencing this issue. Has anyone ever
experienced this? If so, how does one fix this?

Thanks...Skip
I had the same problem a few years ago when I missed a month or two.
As I recall I simply made the adjustment proffered by Money. Then it
was off in the opposite direction the next month, and I accepted that
adjustment. And from there on it has been correct.

Jim
 
S

Skip B

Well - thanks for the note, but it really doesn't help much. A couple of
specific questions:

1) I had already changed the starting balance adn re-balanced July when I
got this. Is there a way to "remove" or "unbalance" an account?
2) I had balanced this all the way to December 2005 when this happened.
Suddenly it says I am back at June? What can cause this?

Skip
 
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C

Cal Learner-- MVP

Well - thanks for the note, but it really doesn't help much. A couple of
specific questions:

1) I had already changed the starting balance adn re-balanced July when I
got this. Is there a way to "remove" or "unbalance" an account?
Delete the account? File->Restore?

If you have compensating transactions in the register that are
messing things up, you could delete them.


2) I had balanced this all the way to December 2005 when this happened.
Suddenly it says I am back at June? What can cause this?
I don't even know what it would mean to be " back at June".
 

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