Paying Credit Cards or Transfering to other Accounts

When the downloaded transaction is a payment to credit card or a transfer to another transaction, the automatic category is on brackets from the same account. For instance, I'm paying Credit Card 1 with Checkings Acct, the category on the Checkings Account will appear [Checkings Acct], rather than the account is paying or transfering money to. When I try to change the category to match the Credit Card or Checkings/Savings account being trasnfered to, it says "You are recording a transfer back into the same account. Save it anyway?". When I click Yes, it would duplicate the transaction. Noy sure how to correct it. Sometimes, just sometimes, it would ask if the transaction is the same as another one exinsting on the receiving account, and that would reconicle. The majority of times, thought, this doesn't happen. Any help?

Answers

  • Quicken_Tyka
    Quicken_Tyka Alumni ✭✭✭✭
    Hello @Qknoob

    Thank you for taking the time to visit the Community to report this issue although, I apologize that you have not received a response.

    Are you able to capture a screenshot showing this error occur from the checking account or a screenshot of the transfer transaction to help see if I can locate the cause of this behavior?

    The more information you can provide regarding this issue will help the Community to better understand and assist.

    Thank you,

    -Quicken Tyka 


    ~~~***~~~
  • UKR
    UKR SuperUser ✭✭✭✭✭
    To correctly record a credit card payment or other transfer transaction in Quicken you need to select the destination account name, surrounded by [square brackets], as the Category.
    For example, to pay your credit card from your checking account, create a transaction in your checking account with Category = [Credit Card 1]. This will create a matching pair of transfer transactions, one in Checking, one in Credit Card 1.
    Here's what paying my AmEx credit card looks like in my Checking account:

    For best results manually enter transfer transactions into your register BEFORE you download transactions from the bank which contain the transfer confirmations. For recurring transfers use scheduled reminders and enter them a day or two before the due date. Be sure to use distinct Payee Names for each transfer / credit card payment to avoid confusing Quicken - memorized payee entries.
    That takes the guesswork out of the transaction downloading process. Because a correctly entered transfer transaction already exists in your account registers, the process should just match the downloaded transfer transaction to the existing one in both accounts.

    If you have issues with duplicate, incorrectly categorized transfer transactions appearing in your accounts, delete the incorrect transactions and keep only the correct one.

  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    edited April 26
    Here's another look at the two Registers for the payment..... Checking account and  Visa Card account
    This is the Visa account... showing the transfer coming from [Checking...]
    This is the Checking account ... showing the payment/transfer going into the [Visa...] account

    Quicken Subscription - Windows 10
  • jonlyons
    jonlyons Member
    Has there been a resolution to this issue? I'm a long-time Quicken user and have been recording transfers for years. I just started seeing this new problem a few months ago.

    When I download transactions from my accounts, transfers show up auto-categorized as transfers, but with the same account in brackets. When I try to change it to the proper source or destination account, I get prompted that "You are recording a transfer back into the same account. Save it anyway?".

    This happens now with multiple accounts and is a recent change in behavior from Quicken.

    I'm using Quicken Deluxe 27.1.33.24 on Windows 10.

    Thanks!
  • UKR
    UKR SuperUser ✭✭✭✭✭
    jonlyons said:
    Has there been a resolution to this issue? I'm a long-time Quicken user and have been recording transfers for years. I just started seeing this new problem a few months ago.

    When I download transactions from my accounts, transfers show up auto-categorized as transfers, but with the same account in brackets. When I try to change it to the proper source or destination account, I get prompted that "You are recording a transfer back into the same account. Save it anyway?".

    This happens now with multiple accounts and is a recent change in behavior from Quicken.

    I'm using Quicken Deluxe 27.1.33.24 on Windows 10.

    Thanks!

    To avoid problems with transfer transactions not properly created from downloaded transaction data, I recommend you follow my advice above and manually record all transfer transactions prior to downloading.
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