I'm a new Quicken Online user (longtime Quicken desktop user) and I had a problem with one of my accounts. I finally resolved it and I'm posting this in case someone else in the future has the same problem and also in hopes that someone from Quicken reads this.
I have two checking accounts with Bank of America. Quicken Online found them and downloaded the transactions successfully. After going through and cleaning up the payees and categories, I noticed that one of my two accounts showed a negative balance. The dollar amount and transactions were all correct but instead of it showing as a positive amount ($5,903.82), it was negative (-$5,903.82). Entering a withdrawal of $100 updated my real balance to -$6,003.82 rather than $5,803.92.
I deleted the account from Quicken Online and added back several times thinking that it was being downloaded incorrectly but the balance was always negative. I could find no way to manually adjust the amount and after a couple hours of frustration, I logged into the Bank of America to see if the problem was there.
Bank of America allows customers to choose nicknames for their accounts. The nickname I've been using is "Mortgage Account" because I use that account to pay the mortgage on my house and my rental property. I changed the nickname to "Checking 2", returned to Quicken Online, deleted the account and then added it again. I was very happy to see that with the new nickname, it showed as a positive balance.
It seems that even though I indicated in Quicken Online that it was a checking account, the word "Mortgage" made Quicken think that it was the mortgage on my house and made the amount negative to indicate how much I still owe.
If anyone has a problem with an account balance showing as a negative when it should be positive (or maybe even the other way around), check the name of the account. The problem may be that you used a word that Quicken flags for specific account types.
Checking account updates as a negative balance Sep 04, 2009 02:52 am
This post is about: Quicken Online
I had a similar problem with Chase. The default nickname for my account on Chase's website was Credit Card, even though it was a Checking account. I changed the nickname on the Chase website to Checking, deleted the account in Quicken Online, and added the account back to Quicken Online. The account balance showed as a positive.
