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Scheduled Transaction Matching to Downloaded Transaction

Amateur Accountant

I recently set up my car loan in Quicken and I scheduled payments especially because it neatly splits the interest payment from the principle payment. I recently downloaded my bank transactions and I matched the scheduled payments to the downloaded transactions. Now I have double entries in the Loan payment details view (making it seem like I'm paying more of the loan than I have), and when I sync it says the downloaded transaction are missing. Any help would be greatly appreciated as I can only assume I set this up incorrectly.

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Accepted answers

Frankx

Hi @Amateur Accountant

Did you set up the loan account as a "download account" in Quicken - where you connect with the financial institution and download transactions into that Quicken account?

Let me know & we'll go from there. (BTW - I like your moniker).

Frankx

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Amateur Accountant

Here's a screenshot of the error sync message

Screenshot 2021-03-12 205625.jpg

Amateur Accountant

I use Quicken Deluxe for Canada

Frankx

Amateur Accountant

Haha thanks! Just wanted to make it clear that I don't entirely know what I'm doing but also understand a little bit.

I set up the loan using the add account wizard, then selected loan and auto loan. I input the loan details and after the fact selected the option to automatically enter the transaction 1 day before due date. I did this because I had it set to maintain loan balance by memorized payee but then the full payment amount would show up in the loan register (as opposed to a split value for interest and principal). I would then either have to manually split each weekly payment or frequently make balance adjustments to make the online value match the Quicken value.

The help is much appreciated!