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Quicken Personal Finance Discussions - Quicken - personal finance software discussions

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Subject Author Date
Splits Marc Auslander 11-15-2007
---> Re: Splits John Pollard11-16-2007
Posted by John Pollard on November 16, 2007, 9:24 am
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 Marc Auslander wrote:
> I'm still on Quicken 2005.
>
> I know of no good way to record a deposit of multiple checks.
> The
> split entry doesn't have enough fields to indicate both payee
> and memo
> information. But there is no way to match with the download
> of the
> deposit except by splits. I even tried making multiple
> entries and
> then doing a manual match, but it converted all the entries to
> a
> single one with split catagory and put the payee's into the
> memo
> field.

Setup a new "intermediate" checking account; call it something
like "Undeposited Checks".

When you receive a check, "deposit" it in "Undeposted Checks"
with the correct payee name, category, and memo.

When you make your actual real-world deposit, transfer the
amount of the deposit from the intermediate "Undeposited Checks"
account to your regular checking account.

When your actual deposit clears and you get the downloaded
deposit transaction, there will be but one transaction in your
Quicken account to match ... while all your checks received will
have correct values in the payee name, category, and memo
fields.

> Is the situation improved in newer versions?

No. But probably because the above method is available to
overcome the problem.

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



Posted by scott s. on November 16, 2007, 2:13 pm
Please log in for more thread options
 @attbi_s21:
>
> Setup a new "intermediate" checking account; call it something
> like "Undeposited Checks".
>
> When you receive a check, "deposit" it in "Undeposted Checks"
> with the correct payee name, category, and memo.
>
> When you make your actual real-world deposit, transfer the
> amount of the deposit from the intermediate "Undeposited Checks"
> account to your regular checking account.
>
> When your actual deposit clears and you get the downloaded
> deposit transaction, there will be but one transaction in your
> Quicken account to match ... while all your checks received will
> have correct values in the payee name, category, and memo
> fields.
>
>> Is the situation improved in newer versions?
>
> No. But probably because the above method is available to
> overcome the problem.
>

This is what I do and it isn't perfect, but it's good enough IMHO.

scott s.
.


Posted by JM on November 16, 2007, 9:25 am
Please log in for more thread options
wrote:
> I'm still on Quicken 2005.
>
> I know of no good way to record a deposit of multiple checks. The
> split entry doesn't have enough fields to indicate both payee and memo
> information. But there is no way to match with the download of the
> deposit except by splits. I even tried making multiple entries and
> then doing a manual match, but it converted all the entries to a
> single one with split catagory and put the payee's into the memo
> field.
>
> Is the situation improved in newer versions?
> --

Do a search of this forum on "deposit multiple checks" - you will find
numerous threads addressing this issue. You will find that most users
handle this by creating/using an intermediate account in order to
maintain the payee and memo details as you desire.

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