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Subject Author Date
Receiving invoice payments from customers txcowboy 01-10-2008
Posted by txcowboy on January 11, 2008, 10:14 pm
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John, that is exactly what I'd hoped would happen, however it doesn't
seem to work that way. Do you know how I can "force" Quicken to see
the two identical transactions as matches?



> txcow...@gmail.com wrote:
> > Thanks to both of you for your help. I also emailed Quicken
> > support
> > and I got a very detailed answer that said basically the same
> > thing
> > you both did. They suggested letting my banking info be
> > downloaded and
> > when transaction is imported into quicken but still waiting to
> > be
> > "accepted" into the register, go and mark the invoice as
> > "payment
> > received".
> > Then the payment will be credited to my checking acct. and
> > I can then delete/not accept the transaction from my bank into
> > the
> > register.
>
> Deleting the downloaded transaction isn't necessary and
> generally it isn't a good idea: if possible, you should plan to
> "Accept" it.
>
> Once you have created the payment in your Quicken account
> register, the downloaded transaction should be given a "Status"
> of "Match" by Quicken ... and accepting a "Match" transaction
> will not create a duplicate transaction in your register. But
> it will update the existing register transaction with the
> "posting date" of the downloaded transaction (a "hidden" Quicken
> field); with the fact that the transaction was downloaded
> (eliminating it from future "matching"); and it will mark the
> register transaction as "cleared".
>
> > However, by waiting until the payment is actually posted to
> > my bank acct and downloaded into Quicken, I will know the
> > check was
> > good and cleared the bank. That makes sense.
>
> > So thank you both very much for your help. I will try your
> > suggestions
> > and see how it goes!
>
> > - Jason
>
> --
> John Pollard
> First initial underscore Last name at mchsi dot com
> Please reply to newsgroup


Posted by John Pollard on January 12, 2008, 9:52 am
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 txcowboy@gmail.com wrote:
> John, that is exactly what I'd hoped would happen, however it
> doesn't
> seem to work that way. Do you know how I can "force" Quicken
> to see
> the two identical transactions as matches?

To increase the odds that Quicken will determine the match, make
sure the register transaction is not dated later than the
downloaded transaction and that the register transaction has
either spaces in the Num field, or has the same thing in the Num
field that the downloaded transaction has. And the amounts
should be equal.

If Quicken still doesn't set the Status to "Match", "Edit" the
downloaded transaction (before you "Accept" it) and use "Manual
Match" to match to the register transaction.

--
John Pollard
First initial underscore Last name at mchsi dot com
Please reply to newsgroup



Posted by jo on January 16, 2008, 9:19 pm
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On Jan 10, 4:23=A0pm, txcow...@gmail.com wrote:
> Thanks to both of you for your help. I also emailed Quicken support
> and I got a very detailed answer that said basically the same thing
> you both did. They suggested letting my banking info be downloaded and
> when transaction is imported into quicken but still waiting to be
> "accepted" into the register, go and mark the invoice as "payment
> received". Then the payment will be credited to my checking acct. and
> I can then delete/not accept the transaction from my bank into the
> register. However, by waiting until the payment is actually posted to
> my bank acct and downloaded into Quicken, I will know the check was
> good and cleared the bank. That makes sense.
>
> So thank you both very much for your help. I will try your suggestions
> and see how it goes!
>
> - Jason

Jason, the only variation I make in what others have suggested is that
I use an additional account called Undeposited Business (and I have
one for personal too). When the payment comes in, I record it on the
invoicing side against the invoice(s) it applies to, and direct
Quicken to put the payment in the Undeposited account, not the bank
account because it hasn't gotten out of my house yet. When I make
the actual deposit, I enter a transfer between the Undeposited account
and the bank account using that date, which may be a little too early
for your purposes if you are trying to match clear date; I like to
know the date I actually went to the bank. When I download, the
amount matches and the dates are close enough that Quicken has always
automatically matched the two transactions as far as I can
remember.

I like doing it this way because it allows me to post the payments
immediately, and reminds me that they are sitting around somewhere in
the mess of my office and need to be dealt with :}

jo

Posted by txcowboy on January 18, 2008, 9:19 pm
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> On Jan 10, 4:23 pm, txcow...@gmail.com wrote:
>
> > Thanks to both of you for your help. I also emailed Quicken support
> > and I got a very detailed answer that said basically the same thing
> > you both did. They suggested letting my banking info be downloaded and
> > when transaction is imported into quicken but still waiting to be
> > "accepted" into the register, go and mark the invoice as "payment
> > received". Then the payment will be credited to my checking acct. and
> > I can then delete/not accept the transaction from my bank into the
> > register. However, by waiting until the payment is actually posted to
> > my bank acct and downloaded into Quicken, I will know the check was
> > good and cleared the bank. That makes sense.
>
> > So thank you both very much for your help. I will try your suggestions
> > and see how it goes!
>
> > - Jason
>
> Jason, the only variation I make in what others have suggested is that
> I use an additional account called Undeposited Business (and I have
> one for personal too). When the payment comes in, I record it on the
> invoicing side against the invoice(s) it applies to, and direct
> Quicken to put the payment in the Undeposited account, not the bank
> account because it hasn't gotten out of my house yet. When I make
> the actual deposit, I enter a transfer between the Undeposited account
> and the bank account using that date, which may be a little too early
> for your purposes if you are trying to match clear date; I like to
> know the date I actually went to the bank. When I download, the
> amount matches and the dates are close enough that Quicken has always
> automatically matched the two transactions as far as I can
> remember.
>
> I like doing it this way because it allows me to post the payments
> immediately, and reminds me that they are sitting around somewhere in
> the mess of my office and need to be dealt with :}
>
> jo

Wow Jo, this is awesome!! I've got to try this! That is exactly what
I'd like to do. For instance, right now I've got about 10 invoices
that I've been paid on. The checks were in my desk drawer all week.
Today I deposited them, but they still won't show up in my bank acct.
(to be downloaded by Quicken) for a day or so. I have been manually
been flagging these transactions with a green flag to let me know
they've been paid, but it's a pain to have to go back and later
"deposit" them into my acct. once the checks have cleared and been
downloaded by Quicken. Your temporary acct. might be just the solution
I'm looking for. Thanks for the tip!!

- Jason

Posted by jo on January 20, 2008, 4:22 pm
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On Jan 18, 9:19=A0pm, txcow...@gmail.com wrote:
>
>
> > > - Jason
>
> > Jason, the only variation I make in what others have suggested is that
> > I use an additional account called Undeposited Business (and I have
> > one for personal too). When the payment comes in, I record it on the
> > invoicing side against the invoice(s) it applies to, and direct
> > Quicken to put the payment in the Undeposited account, not the bank
> > account because it hasn't gotten out of my house yet. =A0 =A0When I make=

> > the actual deposit, I enter a transfer between the Undeposited account
> > and the bank account using that date, which may be a little too early
> > for your purposes if you are trying to match clear date; I like to
> > know the date I actually went to the bank. =A0 =A0When I download, the
> > amount matches and the dates are close enough that Quicken has always
> > automatically matched the two transactions as far as I can
> > remember.
>
> > I like doing it this way because it allows me to post the payments
> > immediately, and reminds me that they are sitting around somewhere in
> > the mess of my office and need to be dealt with :}
>
> > jo
>
> Wow Jo, this is awesome!! I've got to try this! That is exactly what
> I'd like to do. For instance, right now I've got about 10 invoices
> that I've been paid on. The checks were in my desk drawer all week.
> Today I deposited them, but they still won't show up in my bank acct.
> (to be downloaded by Quicken) for a day or so. I have been manually
> been flagging these transactions with a green flag to let me know
> they've been paid, but it's a pain to have to go back and later
> "deposit" them into my acct. once the checks have cleared and been
> downloaded by Quicken. Your temporary acct. might be just the solution
> I'm looking for. Thanks for the tip!!
>
> - Jason- Hide quoted text -
>
> - Show quoted text -

I doubt seriously that I invented this technique. Someone on one of
these forums described it years ago and it made such sense I adopted
it immediately. I don't think I've even seen it written in any Quicken
documentation, but could be wrong.

I should be so lucky to have ten checks ready to be deposited<g>.

jo

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