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Quicken is refusing to enter store returns as negative amount and keeps changing the sign.

How can I get Quicken to do this simple task properly? It asked if this was a Charge or Payment. I said Payment since and it ignored me and entered as a positive Charge, then it changed the signs of everything in my splits.

Answers

  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    What account is this in?  How are you entering your charges?  Why do you have splits?  Sounds like you are entering your credit card statement as a split when you make the payment?  That is wrong.  The return should be its own transaction,

    Just in case you are doing it the wrong way,

    The proper way is to set up a credit card ACCOUNT and enter the charges into it when the purchase is made and assigning it to a category. Then when you pay the bill you TRANSFER the payment from your checking account to the credit card account. Then when you download the payment from the bank you match it to the one you already entered.


    When you enter the payment in your checking account you put the credit card account name in for the category using square brackets around the name to indicate it is a transfer...like this… [credit card] or newer versions have a Transfer column.


  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    I assume you are entering the return transaction, a transaction with splits, in the credit card Account.
    From your description of the problem it sounds to me that you are creating the "split" aspect of the return without having already entering the total dollar amount of the return in the register itself.  
    In that situation, when you are finished creating your split and try to now get out to the split and back to the register, Quicken doesn't know if it's processing a purchase or return, and asks that "Charge or Payment?" question.
    So first, enter the dollar amount of the return in the Payment column, then start creating the split.
    If the split also involves "transfers", (e.g., you used a gift card or points for some of the payment, or part of the purchase was on behalf of somebody else where some part of the original purchase went to a "receivable" Account, then the plus and minus signs get a little tricky.
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