min
Member of DD Central
Posts: 604 
Likes: 170
|
Post by min on Nov 13, 2015 7:59:51 GMT
My account hasn't reconciled for months. Was constantly £20 out. I'd got used to it and treated it as normal. Couple of days ago it changed and was out by £17.83 so I filled out the online form and asked Flaming Crocodiles to sort it.
Got the standard email stating we"ll get back to you within 2 days. This morning found the classic "we are unusually busy and will deal with your issue as soon as we can".
Reminds me of when I used to run an IT support business and we lost one of our customers to a rival because the rival offered 4 hour response time. Our policy was to assess the problem and respond accordingly (server down - drop everything and get there now, one printer out of 3 not working- get there sometime in next few days).
Sometime later I met someone from our old customer and asked how new service was going. Terrible they said. Somebody always turned up inside 4 hours but generally said,"I'll have to take this away" and they didn't see it again for weeks.
Don't get me started on NHS targets.
|
|
bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
|
Post by bigfoot12 on Nov 13, 2015 8:07:56 GMT
My account hasn't reconciled for months. Was constantly £20 out. I'd got used to it and treated it as normal. Couple of days ago it changed and was out by £17.83 so I filled out the online form and asked Flaming Crocodiles to sort it. Got the standard email stating we"ll get back to you within 2 days. This morning found the classic "we are unusually busy and will deal with your issue as soon as we can". Reminds me of when I used to run an IT support business and we lost one of our customers to a rival because the rival offered 4 hour response time. Our policy was to assess the problem and respond accordingly (server down - drop everything and get there now, one printer out of 3 not working- get there sometime in next few days). Sometime later I met someone from our old customer and asked how new service was going. Terrible they said. Somebody always turned up inside 4 hours but generally said,"I'll have to take this away" and they didn't see it again for weeks. Don't get me started on NHS targets. Same here, my account reconciliation became worse, and so I filled in the contact form. I have just had the second response. There is a message about failed interest payments, not sure if that is relevant. I can't understand how my income can move by (an odd amount) but not my total.
|
|
acky
Posts: 481
Likes: 262
|
Post by acky on Nov 13, 2015 8:20:30 GMT
Same with me - so far been waiting 4 days for a response to a query.
|
|
|
|
Post by Deleted on Nov 13, 2015 8:34:25 GMT
I noticed that too! And I reported it (without answers for the moment).
One basic way to check that things are correct (at least formally) is to verify:
amount deposited + [Net earnings] == [Funding Circle total]
The amount deposited is the total you deposited ever (keep a count on your own) as there is no easy counter on Funding Circle.
The other two are parameters displayed on the Summary page.
It is impossible in a working system that the above equation does not match.
In my case there was a difference of 1 pence for years (and I accept it as a rounding difference between the two), but now the difference increased, so I don't regard this acceptable!
|
|
registerme
Member of DD Central
Posts: 6,292
Likes: 6,092
|
Post by registerme on Nov 13, 2015 8:45:38 GMT
I've been tracking it exactly as @hor1997 suggests and up until today it's always reconciled perfectly. Yesterday was bang on, today is £0.59 out. FC, "you have mail".
|
|
awk
Posts: 275
Likes: 146
|
Post by awk on Nov 13, 2015 9:15:57 GMT
Mine has been correct for some time now, but then about 2 days ago suddenly it was £2.02 out.
There is a message on the help tab about missed interest payments from 11/11/15 - I thought it was probably this, but surely they have re-run things since then
|
|
|
|
Post by goldservice on Nov 13, 2015 9:25:50 GMT
I noticed that too! And I reported it (without answers for the moment). One basic way to check that things are correct (at least formally) is to verify: amount deposited + [Net earnings] == [Funding Circle total] The amount deposited is the total you deposited ever (keep a count on your own) as there is no easy counter on Funding Circle. The other two are parameters displayed on the Summary page. It is impossible in a working system that the above equation does not match. In my case there was a difference of 1 pence for years (and I accept it as a rounding difference between the two), but now the difference increased, so I don't regard this acceptable! I haven't kept a note of amounts deposited since I started two years ago - what's the best way to resurrect such amounts from within the site data? I could trawl bank account statements but the amounts have come from the accounts of more than one person so it would be tedious. Should your equation include amounts withdrawn as well?
|
|
registerme
Member of DD Central
Posts: 6,292
Likes: 6,092
|
Post by registerme on Nov 13, 2015 9:29:17 GMT
Yes. "Amount deposited" = all deposits - all withdrawals.
|
|
dawn
Member of DD Central
Posts: 308 
Likes: 275
|
Post by dawn on Nov 13, 2015 9:32:09 GMT
Mine is also out - by £8.68. When I checked my spreadsheet 18 of my loans that repaid on 11/11 missed paying for 1 part but paid all the other parts of those loans. I phoned FC on 11th and they said they were aware of the problem and were looking into it. I have had differences in the past (but never just one part within a loan that otherwise paid back OK) and FC have generally taken several days to fix it as they are pretty thorough at going back through manually to check. They have always fixed it for mine the past so I find patience is the best option. I also find the All time earnings summary on the left of the summary page to be correct (according to my spreadsheet) and the numbers by the pie chart on the right to be the ones that are wrong.
|
|
adrianc
Member of DD Central
Posts: 9,135
Likes: 4,877
|
Post by adrianc on Nov 13, 2015 10:23:51 GMT
Have to admit, I don't micro-manage the FC totals - but the one figure I do track is the deposits. That plus the current balance (and minus any withdrawals, if and when - none yet) is all in a spreadsheet so I can track the XIRR return of what's in each platform. Beyond that level of detail lies madness...
|
|
dawn
Member of DD Central
Posts: 308
Likes: 275
|
Post by dawn on Nov 13, 2015 10:29:23 GMT
Have to admit, I don't micro-manage the FC totals - but the one figure I do track is the deposits. That plus the current balance (and minus any withdrawals, if and when - none yet) is all in a spreadsheet so I can track the XIRR return of what's in each platform. Beyond that level of detail lies madness... or fun if you like playing with numbers or Excel 
|
|
bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
|
Post by bigfoot12 on Nov 13, 2015 10:32:49 GMT
I haven't kept a note of amounts deposited since I started two years ago - what's the best way to resurrect such amounts from within the site data? I could trawl bank account statements but the amounts have come from the accounts of more than one person so it would be tedious. FC is boring because you can only download one month at a time. If you can download statements from your bank you can probably download a year (or more) at a time. Much easier to search for them then. I did this and then on my next deposit I rounded the number off to a round £1,000, now life is much easier - but still without reconciliation (is that right).
|
|
nick
Member of DD Central
Posts: 1,056
Likes: 825
|
Post by nick on Nov 13, 2015 16:04:36 GMT
I noticed that too! And I reported it (without answers for the moment). One basic way to check that things are correct (at least formally) is to verify: amount deposited + [Net earnings] == [Funding Circle total] The amount deposited is the total you deposited ever (keep a count on your own) as there is no easy counter on Funding Circle. The other two are parameters displayed on the Summary page. It is impossible in a working system that the above equation does not match. In my case there was a difference of 1 pence for years (and I accept it as a rounding difference between the two), but now the difference increased, so I don't regard this acceptable! I haven't kept a note of amounts deposited since I started two years ago - what's the best way to resurrect such amounts from within the site data? I could trawl bank account statements but the amounts have come from the accounts of more than one person so it would be tedious. Should your equation include amounts withdrawn as well? I strongly advise that you periodically reconcile your account. My account has not reconciliation in the past 14 months with the unreconciled amounts fluctuating from 2% to 5% of total account value!!! Fortunately the errors appear to be in my favour and my cash balance overstated (but who knows the errors going in both ways). I'm very active so I'm probably an extreme example, but it is dangerous to assume that FC reporting the correct balances. The basic reconciliation is: Net deposits (deposits less withdrawals) + net earnings (as reported on the summary page) = funding circle (shown on summary page being available cash + bids + amounts on loan) If the right hand side is less than the left, then there is probably a transaction error in your favour. My understanding is that the P&L/earnings figures are generally very reliable. The available cash balance is normally defective and often afflicted by duplicate purchases/sales. Why the system doesn't automatically reconcile is beyond me and is in my view a fundamental control flaw. For now I do a back of the envelope check of my daily earnings and keep an eye on the unreconciled balance - I've given up pestering FC given the errors are in my favour so providing me additional non-existent funds to invest. My fear is that there are error on both sides of the reconciliation which would make it a complete nightmare to fully reconcile when I want to cash out in the future......
|
|
dawn
Member of DD Central
Posts: 308
Likes: 275
|
Post by dawn on Nov 13, 2015 17:58:32 GMT
Mine is also out - by £8.68. When I checked my spreadsheet 18 of my loans that repaid on 11/11 missed paying for 1 part but paid all the other parts of those loans. I phoned FC on 11th and they said they were aware of the problem and were looking into it. I have had differences in the past (but never just one part within a loan that otherwise paid back OK) and FC have generally taken several days to fix it as they are pretty thorough at going back through manually to check. They have always fixed it for mine the past so I find patience is the best option. I also find the All time earnings summary on the left of the summary page to be correct (according to my spreadsheet) and the numbers by the pie chart on the right to be the ones that are wrong. My discrepancy is fixed - took 48 hours but everything now in balance 
|
|
bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
|
Post by bigfoot12 on Nov 13, 2015 18:05:25 GMT
Mine fixed too, and I have just had a reply to my message with a plausible explanation for what had happened.
|
|
