Quicken®: Statement Reconciliation

Before You Begin

While we are happy to provide these basic file maintenance steps as a starting point, we are unable to provide comprehensive technical support because Wells Fargo Advisors does not manufacture Quicken. To help ensure a seamless experience using your Quicken software to access Wells Fargo Advisors online, please refer to the For Additional Help section on this page to find help resources and contact information for Quicken technical support.

Step 1. Reconcile your Command Asset Program to an Online Balance.

When you use this method Quicken reconciles your Quicken account to the latest downloaded data, so make sure you download your latest transactions and accept the transactions into your register.

  1. Open the account you want to reconcile.
  2. Click Reconcile.
  3. In the Reconcile Online Account window, select Online Balance.
  4. Select Auto reconcile after compare to register (optional.
    What happens now?
    Quicken automatically reconciles your transactions if they match transactions already in your register. If your account doesn't reconcile, Quicken displays the Reconcile window to help you find the problem.
  5. Click OK.
    Why am I being prompted to download my data? If you haven't downloaded data in the past two days, Quicken asks you if you want to download the latest information.
  6. Click Finished, if the difference in the lower-right corner is zero.
    To match a cash account's balance to the cash on hand
    1. Open the account you want to use.
    2. Click Update Balance.
    3. Enter the amount of cash you have on hand as the cash balance.
    4. Enter the date.
    5. Enter a category for the adjustment transaction.
    6. Click OK.

Note:

If you've reconciled this Quicken account to a paper statement before using transaction download, you may wish to continue with this method. You can switch at any time to reconciling to your online balance, which means that your Quicken register will be reconciled to information that is more current than that contained in a paper statement. However, you should not switch back to the paper statement method after reconciling to your online balance.

You can create a reconciliation report at the time you finish reconciling an account, when Quicken prompts you, or at a later date.

Step 2. Reconcile an Investment Account Statement

When you receive a statement from Wells Fargo Advisors, you can clear each transaction that appears on your statement and then adjust the transaction list if necessary. You can reconcile investment and mutual fund accounts in the same way as you do a checking account, except that in a checking account, you reconcile a cash balance, and in an investment account, you reconcile a cash balance and share balance.

A single mutual fund account has no cash balance, so you reconcile only the share balance. After you reconcile the share balance of a mutual fund account, Quicken displays your new market value in the Share Balance Reconciled window. Quicken automatically adds the latest price to the price history for the security.

You can't reconcile a single mutual fund account when a stock split transaction is present. You should update your balance instead.

  1. Open the account that you want to reconcile.
  2. Choose Investing menu > Investing Activities > Reconcile an Account.
  3. Using information from your account statement, fill in the starting and ending cash or share balances, as well as the statement date.
    Tell me more
    • Starting Share Balance displays the share balance as of the last time you reconciled. If you're reconciling for the first time, this is the share balance for the initial ShrsIn transaction.
    • Enter the total number of shares from your statement (Ending Share Balance).
    • Enter the ending price per share. Quicken uses the price you enter in the Ending Price per Share field to update the market value of the account.
    • Starting Cash Balance displays the cash balance as of the last time you reconciled. If you're reconciling for the first time, it's the cash balance for all transactions marked with an R in the transaction list (ShrsIn transactions and balance adjustments).
    • Use the Ending Cash Balance field to enter the cash balance from your statement.
    • If necessary, change the Statement Ending Date field to reflect the statement.
  4. Click OK.
  5. For each transaction that appears on your statement, click the corresponding transaction in the on-screen list. At the end of this process, the difference in the lower-right corner of the window should be zero.
    Tell me more
    For each transaction you select, a check mark appears in the Clr column. If you have a large group of transactions to select as cleared, you can select them in a single operation.
  6. Click Finished when all the transactions on your statement have been marked.
    What is meant by Finish Later?
    Click Finish Later if you want to suspend the reconcile process and come back to it later. The next time you reconcile, the window will show the transactions marked and unmarked as you left them.

Note:

  • If your account is reconciled, Quicken gives you an opportunity to update your security prices.
  • If your account is not reconciled after following the steps above, then Quicken lets you make adjustments to your account.

For Additional Help

As a courtesy to you, Wells Fargo Advisors provides instructions for basic functions within your software. Should you have questions or need additional help, you can:

  • Use Quicken help menu:
    • Help > Quicken Help has detailed instructions about using your software to access Wells Fargo Advisors Online.
    • Help > Current Window provides instructions for using a feature or function related to the page you are on.
    • Help > Product and Customer Support provides easy access to "Help Using Quicken," Troubleshooting," "Search Frequently Asked Questions," "Contact Us," and "Make the Most of Quicken" help resources.
    • Help > Tutorials are short videos that provide a summary of key features in Quicken.
    • Help > User Manuals is an online user manual for Quicken. Refer to the "Use online account services with Quicken" section for more information about using Quicken to access Wells Fargo Advisors online services.
    • Help > About Quicken helps you ensure that your software is up-to-date, and contains information you will need when contacting Intuit for technical assistance.
  • Visit the Quicken Support Site.
  • Call Quicken Telephone Support at 1-800 811-8766, between 8:00a.m. and 8:00p.m. ET, 7 days a week.
  • Call Wells Fargo Advisors online support at 1-877-879-2495.

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