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Working with two checking accounts

I just bought Quicken Premier, V 6.1.1 for Mac. (I have to admit that Post-purchase blues is starting to settle in)

I pay bills from two different bank accounts, one with Wells Fargo, another with Capital One. One account is used for Wife's bills, and the other is used for Husbands.

I want to use one data file if possible.

Is there a way to designate which checking account to use for specific Payees? Seems so simple, and I am almost embarrassed to ask the question.

I plan on using Bank Pay for all bills running thru the Wells Fargo account (as they support Direct Connect, but charge for the service) but I may have to use Check Pay for those bills running thru the Capital One account as they no longer support Direct Connect.

I like the idea of using Quicken as the primary interface for all of my monthly payment activities. I sure hope that there is a good solution here and not a band-aide, work-around.

Thanks

Answers

  • mrooney
    mrooney Mac Beta Beta
    Hi JMEBSE100,

    I am not sure I understand your question. I have several checking accounts in my Quicken and I make all sorts of payments, venmo, ACH, wire transfer, bank check, etc. from all of them and transfer the payments to wherever I need to in Quicken as well. 

    What is Quicken not doing for you exactly? 

    Regards,
    ..michael..
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Multiple checking account? No problem, I have 3 in the same data file.
    Is there a way to designate which checking account to use for specific Payees? Sorry, but not possible.  Q expects that the user has control over all accounts in the data file.
    You might try "Memorized Transactions" ... but that won't prevent you from recording a transaction in the incorrect account.

    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    @JMEBSE100  Are you planning to download your transactions from your financial institutions? If so, Wells Fargo transactions will download into your Wells Fargo account, and likewise for Capital One -- there's no way for the transactions to end up in the wrong account.

    If you're entering transactions manually, you would normally select the account first in the left sidebar, then enter the Payee and the rest of the transaction. So again, your transactions will be in the proper account.

    As for your bill payments, you'll set them up one payee at a time, so if you set them up in the right account, they'll stay in the right account.

    So perhaps I'm not understanding your concern about a Payee being assigned to a specific account. Quicken doesn't work that way, but I'm not seeing how it would be an issue.
    Quicken Mac Subscription • Quicken user since 1993
  • JMEBSE100
    JMEBSE100 Member
    Thanks for the info. I think I got it now.
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