Match with posting date

Techieferret

Why is it that when you do matches, there's no option to use the posting date instead of the date you put into the register?
This should be an option.

Chris_QPW

@Techieferret To create a suggestion that people can vote on submit an "Idea".

splasher

The posting date comes from the downloaded transaction, so there is nothing in any manually entered transactions to match.

Techieferret

If you do "match transactions", it finds a list of transactions that have downloaded. (By name/amount). But when you tag a specific transaction to match it to, it doesn't use the posting date. It uses the date you put in as a reminder that was entered or a manual transaction added that is posted as "uncleared".
It would be nice to have an option to allow this "match transaction" with the actual posting date instead of what you put in.
Otherwise, you get transactions that are not using the bank's posted date and I like to keep it clear and in order.

splasher

Here is an example of why the two dates should be different.  You buy something at the store and write a check on day 1.   Its a small business and the owner gets around to depositing the check a week later and then it takes a day or two to hit your account at your bank, so the posting date is day 9.
Why would you want the record of that purchase to be day 9 versus day 1 when you took possession of the purchase?
Same thing happens with credit card purchases, the transaction date is rarely the same as the posting date since the business doesn't automatically post the transactions to the CC company in real time, but batch process them probably the next day.  Credit card records also show a transaction and posting date.

Techieferret

I understand your point. That's why I say there should be an OPTION to use posting date instead of transaction date.
Currently, I have to change the date to the posting date manually.
I prefer my quicken register to MATCH line for line on my bank account register.

Chris_QPW

@Techieferret To create a suggestion that people can vote on submit an "Idea".

Techieferret

Ok. Got it done. Thanks.

Bill Blaney

Thanks Splasher for reminding me why I might want to see the two dates -- (a) when I bought the item at the store and (b) when the owner got around to depositing my payment. In this case I would be reconciling Q to (a) my own personal accounting (when I recognize my purchase in my checkbook register) and (b) when the bank statement shows the transaction. In my case, I rely on (b) and on One-Step Update where I want Q to match to the bank statement. This is because I let the credit card company (a) tell me when it thinks I made the purchase and (b) take the the monthly statement amount owing from my bank. There's not a lot of "float" or "clearance" time between when I make a purchase online and when the credit card company records it. One thing I may be missing -- when the store takes my credit card and gets online approval for the purchase and when the store submits the transaction later in the day or week via "clearing and settlement". Or when the bank withdraws my online payment in advance of issuing the check vs. when the check is issued.

In the case of a purchase -- Does Q or my bank know about the online approval date or only the C&S date? If the store takes the card and doesn't seek online approval in advance of C&S, there is no approval date. In the case of an automatic repeat payment from the bank -- I believe the date is when the bank takes the money from my account and keeps it for a day or two before issuing and mailing the check or electronically transferring the funds to the payee.

Chris_QPW

Bill Blaney said:

In the case of a purchase -- Does Q or my bank know about the online approval date or only the C&S date? If the store takes the card and doesn't seek online approval in advance of C&S, there is no approval date. In the case of an automatic repeat payment from the bank -- I believe the date is when the bank takes the money from my account and keeps it for a day or two before issuing and mailing the check or electronically transferring the funds to the payee.

I think what is more important to ask is what either will provide you.  It matters little if the financial institution "knows", but doesn't display it somewhere that the user can see it.  And that is going to vary depending on the financial institution.

For Quicken it pretty simple, it gets one date.  It is supposedly the "posting date", but that is entirely up to what the financial institution provides.

The reason you have to total of 3 dates is because the first one (the main one you see in your register) is determined by this flow:

1. If the user (or reminder) enters a date, that is what it will be (even if it is matched to a downloaded transaction with a different date).
2. If the user hasn't entered a date for the transaction, it gets the downloaded posting date.

The second date is the downloaded posting date.  Obviously this date won't be there until you download the transaction.  What's more it will always be the downloaded posting date, the user can't change it.

The last date is one that is hidden normally from the user (which I think is a bad idea), it should be much more visible and easier to edit.  It is in fact this hidden "posting date" that is used in the reconcile.

The way this gets set is first use the user entered date, if entered, if there is a downloaded date use that instead.  This date can be viewed/changed by holding down the Shift+Ctrl keys and then right clicking on the transaction and selecting "Copy Transaction(s)".