New Transfer Money function

The debit and credit sides of the typical ACH transfer post on different dates, often 1 to 3 business days apart.

However, the current implementation of Quicken's Transfer Money function forces the debit and credit entries to have the same register date. If I change the date of one side of the transfer, the date of the other side of the transfer automatically changes to the same date.

REQUEST: Allow the user to set the register dates of matching Transfer Money entries to different dates. This would not require any change to the existing Transfer Money form.
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  • UKR
    UKR SuperUser ✭✭✭✭✭

    In case you have issues with transfer transactions not being auto-generated correctly:

    For best results I always recommend that you manually enter transfer transactions into your register BEFORE you download transactions from the banks which contain the transfer confirmations. For recurring transfers use scheduled reminders and enter them a day or two before the due date. Be sure to use distinct Payee Names for each transfer / credit card payment to avoid confusing Quicken - memorized payee entries.
    That takes the guesswork out of the process to create new transactions from downloaded data. Because a correctly entered transfer transaction already exists in your account registers, the process should just match the downloaded transfer transaction to the existing one in both accounts.

  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭
    If you want to actually track the real dates on both sides you need to run it through another account.  Like call it Funds in Transit. 
  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    In banking systems, we typically called that account "Cash Items in Transit".

    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Quicken Anja
    Quicken Anja Moderator mod

    Hello All,

    This idea seems to have fallen stagnant and due to the age of the request and lack of user votes/comments, will be archived within the next 7 business days.

    If you would like to see this idea kept alive and considered for possible future implementation in Quicken, be sure to add your vote and a comment explaining how this idea would be beneficial for you.

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    Thank you,

    Quicken Community Support Team

    -Quicken Anja
  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭

    Let this one die a natural death.

    Quicken user since version 2 for DOS, now using QWin Premier Subscription (US) on Win10 Pro.

  • UKR
    UKR SuperUser ✭✭✭✭✭
    edited April 14

    You don't need a new function in Quicken if you need your transfers to be recorded with different dates per account.
    Just create two separate transactions, for example:

    1. a payment transaction in account "Bank A Checking", Category [Bank A Checking], dated today
    2. a deposit transaction in account "Bank B Checking", Category [Bank B Checking], dated in 2 days

    That's not a typo. Creating two unlinked transactions makes this process possible. And categorizing a transfer to itself (that's also called a "transfer back into the same account") is OK in this situation.
    Otherwise you'd get uncategorized transactions or you'd have to use an intermediate "Transfers in Progress" category or account.

    I'd say this Idea can be marked closed / already implemented and should be left available for review for a few months.

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭

    Note that if you do this for a large transfer, you will see a dip in your Net Worth during the time the money is in transit.

    QWin Premier subscription