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How to handle single transaction in 2 registers?

I sync both Venmo and Chase.
Often, I pay in venmo with funds from Chase.
This creates a duplicate debit transaction in both registers (venmo and chase)

without deleting the transaction in the venmo register, what's the best way to handle this so that both transactions remain in each register without counting as 2 payments overall?

Comments

  • Chris_QPWChris_QPW Member ✭✭✭✭
    This "transaction" should be recorded as a transfer.

    The way you do that in Quicken Windows is using a "category" with a syntax like [Other account].

    For instance given the two accounts are named Venmo and Chase.  Then in the Chase account you would put in [Venmo] in the category field.  This will create a linked transfer in the Venmo account.  It is usually best to have a reminder setup for this, and then when the downloaded transactions come in they will match to the existing transaction in the register that was created by the reminder.
    (I'm using the latest Quicken subscription version)
  • ps56kps56k SuperUser ✭✭✭✭✭
    To build on the previous answer...
    I do this with my Paypal account.
    I will pay using Paypal, and also make the Paypal entry reflect the actual purchase with the proper Category, Memo, Payee, etc
    Then, within my Chase credit card account, used for the Paypal billing,
    I merely have the reconciled transaction, and update the Category field to reflect the correct syntax.... [Paypal Acct] ...
    which creates the "transfer" mentioned above from my credit card into my Paypal.
    BTW - you can also use this "transfer" syntax to pay for credit cards from your checking account....
    Quicken 2020 Deluxe - Subscription - Windows 10
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