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transfer detection at download

This is feature very problematic. When a debit and a credit for the same amount are downloaded at the same time, the system should allow the user to
1. choose the correct category
2. When the category of a transaction is incorrectly identified as a transfer, let the user decide whether to delete the corresponding transaction in the second account or not.
I have had lots of problems with this 'feature' and Quicken should try to resolve it.
thanks

Also, I noticed that although I had Transfer Detection set to ask "Confirm possible transfers before entering in register" selected, the option was unchecked today. I downloaded the new update yesterday.

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭

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

    For best results manually enter transfer transactions into your register BEFORE you download transactions from the bank 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 download process. Because a correctly entered transfer transaction already exists in your account registers, the download process should just match the downloaded transfer transaction to the existing one in both accounts.


  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    I would submit the changing of the option as a bug (Help -> Report a problem).

    As for the rest of it, one person suggested that the confirmation information isn't very complete and as such makes it hard to decide.  That is something they could improve.

    But for the actual "improve it", it is just a guess there isn't any way they can improve it.  Quicken just doesn't have any real information about what is a transfer and details like which accounts are involved.  The user does have the option to turn it off/confirmation, but the best way is like @UKR suggested and basically change it from a guess to "known" where all Quicken is doing is matching the existing transaction.
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  • mariap
    mariap Member ✭✭
    I will report this to Quicken, although I think they already are aware of this problem.
    @UKR's solution requires a lot of work. It will not eliminate the issue for me.

    I have used the confirmation option and it is very useful.
    The most annoying part of this bug is that when I change the category of the transaction in Quicken the associated transaction is deleted and I have to enter it manually again

    Today the system assumed that a credit card payment was a transfer from a credit card fee for a different account. There is now way I could have prevented this.
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