How do I handle having entered a transfer wrong?

Question

I've just been reconciling my checking account. During that process I discovered that I hadn't entered a transfer from my checking account to my savings account. So, I entered the transfer. That balanced my checking account.

However, I now have a problem with the savings account. Previously I had reconciled it. And I entered that transfer in the savings account as just a deposit. It is now reconciled. What's the best way of resolving this problem? Should I just delete the deposit from the checking account? Or would that cause some sort of problem because Quicken sees the transfer from checking to savings, but if I deleted that transfer on the savings side wouldn't that cause some sort of issue?

Sherlock · Accepted Answer

I suggest you delete the deposit transaction and mark the transfer transaction as reconciled.

Rod F. · Accepted Answer

I did not know you could do that. Obviously, not something I should do often. Thanks!