Matching downloaded transactions.

Posted by mmurrell on August 26, 2007, 12:01 am

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When I am matching my downloaded transaction manually, I do not like
the way the program is working. Perhaps there is a setting in tools
or something to help the program do what I want.

When I input deposits, I input each individual's name in the payee
field so I can later look back and quickly find who has paid me.
Sometime several of these people's checks get deposited on the same
deposit ticket. When I reconcile the downloaded transaction, I have
to manually match each individual transaction to clear the total
deposit.

Quicken automatically then combines those individual transaction into
one transaction with "deposit" as the payee, and the payee in the memo
field. The reason I entered each of the transactions separatly in the
first place was so I would have all the individual names in the
"payee" field.

I hope I am being clear enough for you to help me understand how to
better enter/work around what I am trying to do. Right now, I am
deleting the downloaded (total deposit) transaction, and manually
clearing the individual transactions during "reconciliation". The
problem with this, is that those individual transaction will not show
as cleared under the "manual match" during accepting downloaded
transactions. I have to go into each transaction and do the "edit/
transaction/control copy/" thing and manually enter a check mark and
clear date.

Is there another way to do this? Thanks for your Help.

Marie

Posted by JM on August 26, 2007, 9:09 am

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> When I am matching my downloaded transaction manually, I do not like

> the way the program is working. Perhaps there is a setting in tools

> or something to help the program do what I want.

> When I input deposits, I input each individual's name in the payee

> field so I can later look back and quickly find who has paid me.

> Sometime several of these people's checks get deposited on the same

> deposit ticket. When I reconcile the downloaded transaction, I have

> to manually match each individual transaction to clear the total

> deposit.

> Quicken automatically then combines those individual transaction into

> one transaction with "deposit" as the payee, and the payee in the memo

> field. The reason I entered each of the transactions separatly in the

> first place was so I would have all the individual names in the

> "payee" field.

> I hope I am being clear enough for you to help me understand how to

> better enter/work around what I am trying to do. Right now, I am

> deleting the downloaded (total deposit) transaction, and manually

> clearing the individual transactions during "reconciliation". The

> problem with this, is that those individual transaction will not show

> as cleared under the "manual match" during accepting downloaded

> transactions. I have to go into each transaction and do the "edit/

> transaction/control copy/" thing and manually enter a check mark and

> clear date.

> Is there another way to do this? Thanks for your Help.

> Marie

One way to handle this situation;
Create a new cash flow account - call it Holding or Deposits or
similar.
Log the individual payments into this new 'holding' account.
When you make a deposit to checking(?) - record this in Quicken as a
transfer from the holding account to checking.
When you download your checking acct info, you can match the
downloaded deposit to the transfer - or modify the downloaded
transaction to reflect the transfer before accepting it.
The holding account balance zeros out over time.
The integrity of the individual patments is maintained in the holding
account.
You will need to include this new account in various reports to pick
up the detail.

Posted by mmurrell on August 26, 2007, 2:33 pm

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> > When I am matching my downloaded transaction manually, I do not like

> > the way the program is working. Perhaps there is a setting in tools

> > or something to help the program do what I want.

> > When I input deposits, I input each individual's name in the payee

> > field so I can later look back and quickly find who has paid me.

> > Sometime several of these people's checks get deposited on the same

> > deposit ticket. When I reconcile the downloaded transaction, I have

> > to manually match each individual transaction to clear the total

> > deposit.

> > Quicken automatically then combines those individual transaction into

> > one transaction with "deposit" as the payee, and the payee in the memo

> > field. The reason I entered each of the transactions separatly in the

> > first place was so I would have all the individual names in the

> > "payee" field.

> > I hope I am being clear enough for you to help me understand how to

> > better enter/work around what I am trying to do. Right now, I am

> > deleting the downloaded (total deposit) transaction, and manually

> > clearing the individual transactions during "reconciliation". The

> > problem with this, is that those individual transaction will not show

> > as cleared under the "manual match" during accepting downloaded

> > transactions. I have to go into each transaction and do the "edit/

> > transaction/control copy/" thing and manually enter a check mark and

> > clear date.

> > Is there another way to do this? Thanks for your Help.

> > Marie

> One way to handle this situation;

> Create a new cash flow account - call it Holding or Deposits or

> similar.

> Log the individual payments into this new 'holding' account.

> When you make a deposit to checking(?) - record this in Quicken as a

> transfer from the holding account to checking.

> When you download your checking acct info, you can match the

> downloaded deposit to the transfer - or modify the downloaded

> transaction to reflect the transfer before accepting it.

> The holding account balance zeros out over time.

> The integrity of the individual patments is maintained in the holding

> account.

> You will need to include this new account in various reports to pick

> up the detail.- Hide quoted text -

> - Show quoted text -

Thank you for the idea. I guess that will be less work than having to
manually clear each of these individual deposits with "EditTransaction
Control Copy Transaction". This becomes rather time consuming. If I
set up this new "clearing" account I would not activate it in any way
for online....therefore I would not have these individual transactions
show up as needing cleared. Thanks again for the good idea..

Is there no way to have Quicken match the individual transactions, as
"individual" transactions and NOT lump them into a new split
transaction?

Marie

Posted by Andrew on August 26, 2007, 10:35 am

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mmurrell wrote:

> When I input deposits, I input each individual's name in the payee field

> so I can later look back and quickly find who has paid me. Sometime

> several of these people's checks get deposited on the same deposit ticket.

The first sentence you use the word 'deposits' (as in, plural). The second
sentence you are using the words 'same deposit ticket'. That's singular.
So - how many deposit(s) are you really making??

If you are only passing one deposit ticket to the bank and receiving a
single receipt back for a TOTAL of individuals on the same deposit, that's a
SINGLE transaction deposit entry in Quicken (and to your bank, for that
matter.). So, why not use a split deposit transaction so that the bank's
downloaded transaction match your single receipt - perhaps you can use the
MEMO field in the multiple transaction to record the individual's name?--
-------------------------------------------------------------
Regards -

- Andrew

Posted by John Pollard on August 26, 2007, 11:37 am

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"Andrew" wrote

> mmurrell wrote:

>> When I input deposits, I input each individual's name in the

>> payee field so I can later look back and quickly find who has

>> paid me. Sometime several of these people's checks get

>> deposited on the same deposit ticket.

> The first sentence you use the word 'deposits' (as in,

> plural). The second sentence you are using the words 'same

> deposit ticket'. That's singular. So - how many deposit(s)

> are you really making??

> If you are only passing one deposit ticket to the bank and

> receiving a single receipt back for a TOTAL of individuals on

> the same deposit, that's a SINGLE transaction deposit entry in

> Quicken (and to your bank, for that matter.).

> So, why not use a split deposit transaction so that the bank's

> downloaded transaction match your single receipt - perhaps you

> can use the MEMO field in the multiple transaction to record

> the individual's name?--

That's exactly what's happening.

When you use "Manual match" to match one downloaded transaction
to multiple existing register transactions, Quicken creates a
new register transaction that is a split of all the pre-existing
register transactions that you told Quicken to match to ... with
the payee names in the memo field of the split lines.

But when that happens, you lose the ability to see those
transactions grouped with the appropriate payee when you run
reports that sort, or subtotal by payee.

--
John Pollard
First initial underscore Last name at mchsi dot com
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