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L_D_
Level 1

Reconciling Merrill Lynch Investment Accounts

I have a client who recently opened Merrill Lynch investment accounts. They are money market accounts and were set up as such in QBO. The accounts were linked to the bank feed, and transactions downloaded without an issue. The problem is that they are not able to be reconciled. After spending almost two hours on the phone with pro support, and going back and forth with the software engineers, the end result was that it's not possible to reconcile.

 

I wish I had known that when I linked the accounts. I was unable to find any information online or in the resources to guide me, so I am creating this less as a request for help than as an aid for anyone else looking to do the same thing. 

 

That being said, if there IS a way to reconcile investment money market accounts, I'd be grateful for the input. If not, then linking to Merrill Lynch should be disabled to save anyone else from wasting their time. 

2 Comments 2
Catherine_B
QuickBooks Team

Reconciling Merrill Lynch Investment Accounts

Hello there, L_D_. 

 

I do appreciate your time and effort in contacting our Phone Support Team so you can reconcile the Merrill Lynch investment account. We also have an option to manually import transactions instead of directly downloading transactions through Online Banking. This way, you can identify which transactions that don't need to import into QuickBooks. 

 

Also, we can only reconcile bank accounts in QuickBooks Online, and I'll surely take note of this feedback. Meantime, you can look into these references that will walk through in our Banking and Reconcile page: 

Just let me know if there's anything else that you need help with. You take care and have a great day!

EZaccounting
Level 1

Reconciling Merrill Lynch Investment Accounts

I am having the same Issue with not solution yet. I have a client with Investment Fidelity accounts within the account there are Beg and End balances for the Investment account and then Beg and End Balances for the Core account, which at the end its all one account. There are withdrawals and dividends paid and reinvestment amount. I also talked to someone in QB Support and they told me the same thing. That there is no way to reconcile an Investment account in QB Online.

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