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Product Ideas - Quicken for Windows
Budgeting and Planning Tools (Windows)
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Multi account Transfer reminders
Budgeting and Planning Tools (Windows)
It would be helpful allow Transfer Reminders to have multiple Credit accounts. This would allow a reminder to credit three accounts, "a", B", and "C" each $100 and debit account "D" $300.
If you're only interested in easily recording such event in Quicken, you can do so today:
In your Checking account set up a scheduled reminder for $300 with splits
to account [A] $100
to account [B] $100
to account [C] $100
However, how do you pay these three credit cards in the real world?
By check, to be mailed, 1 per credit card? By online bill pay? By accessing each of the credit card websites and initiating a direct debit from your checking account?
Also consider how each of these transactions is reflected in your bank account statements: As 3 separate transactions in your checking account.
Consider how to easily reconcile your checking and credit card statements to the real transactions.
Bottom Line: I recommend you set up 3 separate Scheduled Reminders in Quicken, reminding you a few days before Due Date to make the real payment as you prefer.
Actually the transactions go the other way.
from account [A] $100
from account [B] $100
from account [C] $100
to account [D] $300.
My Vendor deposits $300 into account [D], so if I do three separate reminders and enter three transactions my bank will show + $300 and Quicken will show
This just means more work for me and having to hunt down the transactions that add to $300. The transactions vary and are not nice even numbers so this requires a little effort. So I'm still looking for the multi account transfer reminder.
When setting up this reminder, do not select "Add" / "Transfer Reminder". It's restricted to a pair of accounts, Transfer-From and Transfer-To.
Instead, create an Income Reminder or a Manual Bill Reminder. In there you can select the category split view and start entering as many transfer accounts as you need.
Here's a sample transaction I use to split a single transaction into 3 transfers to different accounts
. I've tried using the Income Reminder and the Bill Reminder. Both fail for different reasons. The Income Reminder is read by Quicken as future income in the Rental Property module so that invalidates the future cash flow modeling. The Bill Reminder has reversed credits and debits. I've tried to enter a (-) negative amount, but Quicken in all its wisdom does not allow this. The only solution to this, i believe, is a multi account transfer reminder. Please vote for it in the recommended features section.
Thanks for your input, Rob
In truth I believe that there is a way to make this work with a Income or Bill reminder for what
is talking about, but I don't have a current version of Quicken H&B&R and I'm not that familiar with it anyways. Once a transaction is in the register it doesn't matter how it got there whether it be the entered directly, or by a one of the reminders (with the exception of a paycheck reminder) the transaction can't be "told apart" by what kind of reminder entered it.
BUT I think that has no real baring on this suggestion. The transfer reminder would certainly be benefit from being more flexible and allow for multiple transfers in a single reminder.
This has come up lots of times and it is far from obvious that the workaround is to use either an income or bill reminder with a split with the right category syntax for a transfer.
(I'm always using the latest Quicken Windows subscription version)
This is my website:
I wish this were true
. My desire is to use the entirety of Quicken, for both the audit trail in the register and the planning and forward looking features and functions. I agree that once a transaction is entered it lives in the register no matter how it was entered. But the forward looking, planning features do rely on how the reminders are entered and that is the important part of this conversation that cannot be overlooked. If the desire is to use the forward looking features in Quicken, and not merely rely on past data, then it matters 100% how a transaction/reminder is entered. This is a weakness in the system that cannot be solved with a work around, but must be addressed with well written code. They can, and should provide this functionality that cannot be provided by the many well meaning users trying to work around this system inadequacy.
Please vote for my suggestion to fix this bug and provide Multi account transfer reminders.
Thank you all,