How to remove, or a better way to do a balance adjustment

I am new to quicken & using it's full abilities, in learning process.
After making changes to categories (after reconciled) an account balance changed. I used the balance adjustment which now shows as spending.
Is there a way to adjust balance without it showing as "spending"

Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭
    Is it possible that one of the Category changes you made changed a transfer transaction from Category = [transfer-to account name here] to some other category?
    If so, Quicken deleted the matched transaction in the "transfer-to account", hence the balance difference.
    Transfers create a matched pair of transactions, one in the checking account, for example, and one in the credit card account whose bill you just paid. Changes made to one of the transactions reflect in the other one, too.
    Once you figure out which transaction was incorrectly changed and correct it, the balance adjustment should no longer be needed.
    The category of a Balance Adjustment transaction generated by Quicken should be "a transfer to the same account", e.g., you're working in the credit card account, the category used will be [name of credit card account], enclosed in [brackets]
    If, however, you're adjusting the balance of a Cash account to cover some small expenses you didn't individually record, you should categorize that to one or more real expense categories, because it was real spending.
  • dgss1
    dgss1 Member
    "Transfers create a matched pair of transactions, one in the checking account, for example, and one in the credit card account whose bill you just paid. Changes made to one of the transactions reflect in the other one, too."

    I do not like the Transfer box that appears after One Step Update.
    Is there a way to prevent that ? I do pay for things for the kiddos, so it messes with me which are & are not. young adults whos accounts are linked.
    it is where the problem started. I changed way to many to go back and undo.

    No way to dummy up the balance adjustment so it doesn't appear as spending ?
    Thanks for your time,
    Maybe you know of some better help videos ?
    overall I like quicken but the learner curve and time spent is a frustration
  • Quicken Anja
    Quicken Anja Moderator mod
    Hello @dgss1,

    Thank you for taking the time to visit the Community to tell us about your issue, though I apologize that you are experiencing this.
    dgss1 said:
    I do not like the Transfer box that appears after One Step Update.
    Is there a way to prevent that ? 
    If you're referring to Quicken automatically assigning Transfer categories that cause transactions to link between two different accounts; you can either disable this feature completely or change it so you receive a notice to approve the transfer first before it's assigned. To do so, please navigate to Edit > Preferences... > Transfer detection (see below).



    To disable the feature; simply uncheck the checkbox for Scan downloaded transactions for possible transfers. Alternatively, if you don't wish to disable it and receive a notice instead; leave that checkbox checked, and select the 2nd option for Confirm possible transfers before entering in register.
    dgss1 said:
    No way to dummy up the balance adjustment so it doesn't appear as spending ?
    To avoid a balance adjustment being counted as Spending, use Transfer in the category field, then in the category dropdown list; select the same account name as the name of the account that the balance adjustment is located in - e.g.: if the account name is "Joint Checking", then select "Joint Checking" from the category dropdown list (see example below).



    Press Enter on your keyboard to save the category change, and you will then receive a warning dialog asking you if you wish to confirm this change (see below).



    Click Yes, and now that the adjustment is using a Transfer category, it will no longer be counted as Spending.
    dgss1 said:
    Maybe you know of some better help videos ?
    We do have some tutorial videos available on YouTube which I will list below along with a few other Quicken resources you may find helpful.
    1. Support articles can be found at https://www.quicken.com/support
    2. Tutorial videos can be found at https://www.youtube.com/user/Quicken
    3. In-product help can be found by navigating to Help > Quicken Help
    4. You can contact Quicken Support directly via chat or phone.
    Additionally, being that you are a new user, I would like to also inform you that you do have the option to schedule a one-on-one tour with our Quicken 1-2-3 team. 

    By doing so, one of our Quicken 1-2-3 team members will contact you via phone at your scheduled appointment time. This team has been specifically trained and put together to assist our new customers in getting familiarized with the program and learn how to utilize it to fit your needs, as well as answer any questions and/or address any concerns you may have.

    If this is something that would interest you, then please, click here to select a time slot and schedule your tour! Alternatively, you can also call them directly at your own convenience. The phone number can be found through that same link.

    I hope this helps!
    -Quicken Anja
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