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Subject Author Date
Split transaction limit lanman 05-04-2007
Posted by lanman on May 9, 2007, 11:41 am
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How would I then categorize each transaction appearing on the credit
card invoice. Would I download the credit card info into Quicken and
then go back and add the categories?

Currently I enter each transaction individually from my credit card
statement so I can have meaningful reporting later. It allows me to
track my spending throughout the year by category. It also facilitates
my tax preparation later.



On Wed, 9 May 2007 06:56:39 -0700, "Steve Dell"

>Instead of breaking out the transaction on the payment, establish a credit
>card account and enter the individual transactions there.
>
>Then, when you pay the bill, you are "Transferring" money from your checking
>account to the credit card account to pay it off in full. This way, if you
>make partial payments, have credit card fees and the like, you'll capture
>that information with more detail and less hassle.
>
>Steve
>
>
>>I am currently using Quicken 2005 Premier H&B. When I enter a split
>> transaction, Quicken limits the total number of line items to 30.
>> Since I like to capture the details when I'm paying such things as
>> credit card bills, the 30 line item limit often proves inadequate.
>>
>> Can someone tell me if this limitation has been increased or
>> eliminated in newer versions of Quicken? Thanks...
>>
>>
>>
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Posted by Andrew on May 9, 2007, 7:16 pm
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lanman wrote:
> How would I then categorize each transaction appearing on the credit
> card invoice. Would I download the credit card info into Quicken and
> then go back and add the categories?
>

You can either do it manually (enter the entire transaction by hand as soon
as you make the charge) or wait and download all of them from your credit
card, and adjust the categories that are not right at that time. Quicken
has facilities that will make the downloading (for example, "renaming
rules") easy for you.

I tend to try to always enter the individual transactions as I use the card
so I can see the running balances, then when I automatically download, they
will get matched up with the existing entries.
--
-------------------------------------------------------------
Regards -

- Andrew



Posted by Mike Blake-Knox on May 10, 2007, 8:02 am
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> Currently I enter each transaction individually from my credit card
> statement so I can have meaningful reporting later.

The key thing is to enter each credit card purchase/refund transaction
into a separate register entry in an account for each credit card. This
enables Quicken features like Quickfill to speed up manual entry and
renaming rules to automate handling transactions downloaded from a
credit card company.

Mike


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