Allow for multiple payees when splitting transactions

Hello, the whole reason I split a transaction is because usually there are multiple payees that were batched together in one payment or deposit, etc. I am currently putting each payee in the memo/notes field so I can tell which payee each split is from. But why on earth hasn't quicken made this possible to input multiple payees for each line of the split transaction???
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  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    But why on earth hasn't quicken made this possible to input multiple payees for each line of the split transaction???
    Because it is one transaction.  There can only be one payee for each transaction.
    If you need multiple payees the transaction needs to be broken out to multiple transactions.

    This is fundamental to all versions of Quicken Mac, Windows, Mobile, Web, old and new.  There is little chance that this would ever be changed.
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  • RickO
    RickO SuperUser, Mac Beta Beta
    On the payments side, this does not make sense (to me). Quicken transactions should mirror real world transactions. In the real world, a payment transaction (as would show on the bank's website) only goes to one payee (unless your bank has some kind of weird payee splitting that I've never heard of). Therefore, multiple split payees would not make sense for payment transactions.

    OTOH, I can see where this makes sense on the deposit side. Such would be the case if you got, say, three checks from Harry, Joe and Mary. You deposit them to your bank in one envelop and the bank considers this one single deposit transaction. However, in the Quicken world, you'd rather tie these to the payees named Harry, Joe and Mary in your database. That's useful if you want to report on receipts from each of them separately.

    As Chris mentions, this is never going to change in Quicken. Here are my workarounds:
    1. Never group your real world deposits into one bank transaction (envelop). Make them all single deposits which will then be reflected in Quicken the same way.
    2. If you do group multiple deposits in one real world transaction, enter them manually as separate deposits for each payee in Quicken. Then when the combined bank transaction comes in, verify that the grand total is correct, delete the single bank transaction, and mark the individual manually entered transactions as cleared. The account will still reconcile correctly. You may want to put a note in the memo field of the individual transactions to indicate that they are part of a $xx.xx real world deposit.
    #2 is what I do when I (rarely) have this situation.

    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • jujujuju
    jujujuju Member ✭✭✭
    I believe the accepted way of solving this is to create a new account, enter each individual payment into this account, and then enter a single counter transaction from this new account to act as the single bank account deposit entry. The new account should continually zero out, making for an easy double check of your actions.
  • RickO
    RickO SuperUser, Mac Beta Beta
    jujujuju said:
    I believe the accepted way of solving this is to create a new account, enter each individual payment into this account, and then enter a single counter transaction from this new account to act as the single bank account deposit entry. The new account should continually zero out, making for an easy double check of your actions.
    That's a nice way to handle it too. I think it depends on the frequency of this situation. If infrequent, setting up a separate cash account is kinda overkill. I'd just use my #2 workaround above. If it's a frequently occurring ongoing process, I'd use this method.
    Quicken Mac Subscription; Quicken Mac user since the early 90s
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    edited April 1
    @deafinitely  The responses above discuss multiple deposits as a single or separate transaction, but I'm not sure if that's what you're trying to deal with or not. Are you trying to do something like a credit card payment with split lines for each transaction? If so, that's not the correct way to handle credit cards in Quicken, and we can tell you how to do it better if you say that's what you're trying to do.
    Quicken Mac Subscription • Quicken user since 1993
  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    Can you give an example?  For deposits.......

    What you need to use is an intermediate holding account. Set up an account and call it something like Checks Received or Undeposited Payments. Then enter the payments into it. Then when you make the deposit to your bank account you transfer the total deposit amount to the new account. That way when you download your bank transactions the deposit will match. Or you should use the holding account if you receive payments in one year (like in Dec) but don't make the deposit until the next year (like Jan.).


    You don't run to the bank each time you get a check.  So you need a holding account so you can show the income when you received it.  Then you wait until you get a bunch of checks to go to the bank.



  • Hawk1984
    Hawk1984 Member
    Needed feature for sure. If I withdraw $100 cash and give $50 to the baker and $50 to the butcher. I want to be able to track where all spend from that withdraw went in detail. If that doesn't make sense, I can't help explain it better or in any further detail.
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Hawk1984 said:
    If I withdraw $100 cash and give $50 to the baker and $50 to the butcher. I want to be able to track where all spend from that withdraw went in detail. If that doesn't make sense, I can't help explain it better or in any further detail.
    The proper way to handle this in Quicken is to create a Cash account. When you withdraw $100 from your checking account, record that as a Transfer to the Cash account. When you pay $50 to the baker, enter a $50 payment to the baker from the Cash account. When you pay the baker, enter that as a separate transaction from the cash account. From time to time, reconcile the cash account with the cash in your wallet.

    I have a separate cash account for myself and my wife, since we each have our own separate stash of cash.

    I've used this approach for decades with Quicken, and it works well. It lets you track what you paid, to whom, and when; you can categorize each payment appropriately, and you can reconcile you cash on hand to the account in Quicken. 
    Quicken Mac Subscription • Quicken user since 1993
  • jtemplin
    jtemplin Member ✭✭✭✭
    jacobs said:
    The proper way to handle this in Quicken is to create a Cash account. 

    Or, simply add split lines to the ATM transaction as you spend the cash, letting the remaining balance of the transaction default to something like misc. A long time ago, I used a cash account like Jacobs does, but I found the cash account a hassle, forcing me to account for every cent. With the split ATM transaction, I can add split lines for the things I really care about tracking, and let those lesser things lump into misc. I keep an eye on misc getting too large by the end of the month, which prompts me to categorize more things. I did that as a life simplification: I discovered that many small out-of-pocket expenses don't need individual tracking.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    jtemplin said:
    jacobs said:
    The proper way to handle this in Quicken is to create a Cash account. 
    ...
    A long time ago, I used a cash account like Jacobs does, but I found the cash account a hassle, forcing me to account for every cent. With the split ATM transaction, I can add split lines for the things I really care about tracking, and let those lesser things lump into misc. I keep an eye on misc getting too large by the end of the month, which prompts me to categorize more things. I did that as a life simplification: I discovered that many small out-of-pocket expenses don't need individual tracking.
    You don't really need to account for every cent, even when you use a Cash account.
    Record the larger purchases or the ones which have some tax implications as individual transactions.
    Once a week or so count the cash in your wallet and record a "Misc. Cash Exp." transaction for the difference between Cash account register and actual cash on hand ... similar as you'd do with your "misc" transaction split, but as a separate simple transaction.

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    UKR said:
    You don't really need to account for every cent, even when you use a Cash account.
    Record the larger purchases or the ones which have some tax implications as individual transactions. Once a week or so count the cash in your wallet and record a "Misc. Cash Exp." transaction for the difference between Cash account register and actual cash on hand ... similar as you'd do with your "misc" transaction split, but as a separate simple transaction.
    That's what I do. Except I don't reconcile it weekly, and I'm lucky if I remember to do it monthly! (I don't have a large number of cash transactions, as I try to do all possible spending on a credit card.) Each time I do, there is some head-scratching as I try to recall places I might have spent cash which I can't recall. ;)
    Quicken Mac Subscription • Quicken user since 1993