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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.



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