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Posted by John Pollard on April 6, 2007, 6:56 pm
Please log in for more thread options John Pollard wrote:
> steve.sanyal@gmail.com wrote:
>
>> I'd like to know the right way to do something in Quicken
>> XG 2005. Here is the scneario:
>>
>> 1. I go online and download my bank transactions. My
>> bank account has a payment for 2500.
>> 2. I go online and download my credit card transactions.
>> My credit card has a deposit for 2500.
>> 3. I accept both transactions.
>> 4. I go to my bank account transaction and assign the
>> category as: transfer to credit card
>> 5. I go to my credit card transaction and assign the
>> category as: transfer from bank account.
>>
>> This creates a problem:
>>
>> Step 5 creates a new deposit transaction in my credit
>> card for 2500, when I have already got one.
>> Step 6 creates a new payment transaction in my bank
>> account for 2500, when I have already got one.
>>
>> As a result, my payments are not reflected.
>>
>> One way I've remedied this is assign the category as I
>> mentioned in Step 5, but then I go and delete transaction
>> I had in Step 2.
>>
>> I am assuming that there is a better way to do this
>> though, some way to associate the transaction in the bank
>> account with the transaction in the credit card?
> It's all in the timing.
>
> You can not link transactions that are already in your
> Quicken registers.
>
> Make sure any Quicken transaction you want to be Matched
> with a downloaded transaction is in your Quicken register
> before you "Accept" the downloaded transaction.
>
> Think about what happens when you create a new transfer
> transaction in Quicken, or when you change an existing
> Quicken non-transfer transaction to be a transfer
> transaction.
> Your problem occurred in Step #3. You can not Accept both
> halves of a downloaded transfer transaction before
> creating the transfer in Quicken. You can accept one of
> those downloaded transactions before, but not both. After you
> accept the first transaction, you must modify
> that transaction to be a transfer. Then when you open the
> TO account, the downloaded transaction in the TO account
> will "Match" the (now) existing register transaction.
I forgot to add that: under any conditions, step #6 is uncalled
for. Even if there were no downloaded transactions involved,
you do not need to, and you can not, do step #5 *and* step #6.
You always need just one transaction to be designated as the
"transfer" transaction ... that always creates a transaction in
the TO account.
--
John Pollard
First initial underscore Last name at mchsi dot com
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