First Progress Mastercard charges appear as payments, payments as charges

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Answers

  • alannsandiego
    alannsandiego Member ✭✭
    edited June 2021 Answer ✓
  • alannsandiego
    alannsandiego Member ✭✭
    I wish that Quicken had told me that checking on this issue.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Thank you @Quicken Sarah, with this all happening in the private emails it was hard to know what was going on.
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
  • alannsandiego
    alannsandiego Member ✭✭
    Answer ✓
    First Progress downloads the transaction exactly like their website, the amount of the transactions are correct but the sign (+) (-) of the data is wrong; charges must be negative numbers in Quicken Credit card accounts, and payments must be positive numbers in Quicken Credit card accounts. First Progress MasterCard is a credit card processing company and they seem to be unaware of their Online Banking Provider so I cannot ask the "Bank" to fix this they are not a "Bank". I have written a letter to First Progress MasterCard, but I expect them to respond that Quicken is a third party program they do not support Quicken; which is funny because it almost works! I do know why Quicken claims to support them, I think that Quicken used to have a contract with them but do not have one presently.

    If First Progress has a contract with Intuit or an Online Banking provider, this problem can easily be fixed with (* -1) of the data.

    Quicken has open a ticket but that is not solving the problem. One solution would be for Quicken program itself to check the sign (+) (-) of the data when it is input into Quicken and change it if is wrong, or have an option to do that.

    It seem more likely to me that First Progress MasterCard does not have a contract with Intuit and that is the reason the problem is not being fix. For now the data has to manually corrected charges move manually from payment to charges, and payments moved from charges to payment; almost the same as doing it manually in the first place.

    So right now, First Progress MasterCard is not actually supported by Quicken, because it does not work correctly, maybe a ticket open but no ETA if ever gets fix; that is the same as not supported.

    https://www.intuit.com/partners/fdp/implementation-support/ofx/get-a-quote-tool/
    Participation Fee Due ? Annual Version Fee $33,000
    Intuit charges "Banks" at least $10,000 per year for a contract.

    https://www.intuit.com/partners/fdp/implementation-support/ofx/why-connect/connectivity-types/
    Express Web Connect - contract with your OFX/Online Banking Provider might be required

    Express Web Connect is the second of two automatic update options. Unlike Direct Connect which communicates directly with your OFX servers, Express Web Connect utilizes aggregation to retrieve transactions from your online banking site. Intuit creates and manages this connectivity type when you have a contracted Web Connect or Direct Connect BID. Please check with your OFX/Online Banking Provider to make sure aggregation is supported by your OLB site.

    Since the transaction data does download correctly as it is on First Progress MasterCard Website, appearently Quicken/ Intuit is connected otherwise it would not work at all; but with an incorrect sign (+) (-), the data is nearly useless.

    Apparently Quicken does not talk to Intuit about data errors, otherwise this could have been fixed already; and I do not have time to manually correct the data that is what I paying Quicken to do.
  • alannsandiego
    alannsandiego Member ✭✭
    6/17/2021 First Progress MasterCard call be today, their position is that they are allowing the download of the data to Quicken, by QFX and Express Web Connect

    and it is for Quicken and Intuit make sure the Charges are negative numbers and Payments are positive numbers.

    It is the responsibility of Quicken or Intuit can check the sign of the data for their program and change the sign of the data if necessary (* -1) to import charges as negative number and payments a positive numbers which is the opposite of the website.

    In accounting Credit Card charges are positive number on the Charge company website because charges are assets (+) to the Charge company, but Liabilities (-) to Quicken customers that is why Quicken shows charges as negative numbers because you owe the charged amount.

    It is unknown why Quicken and Intuit is unable to quickly fix this simple problem, I have seen it before.
  • Quicken Francisco
    Quicken Francisco Alumni ✭✭✭✭
    Hello @alannsandiego

    I do apologize for not having a response sooner here for you. Are you still experiencing issues with your first progress Mastercard? If so could I ask that for you to submit a problem with all logs attached other than the sanitized file (They should all be enabled by default). You can do so by going across the top to help > report a problem. 

    Once you get the chance let us know and we'll take a look again if necessary;

    Thanks,
    Quicken Francisco
  • Doug Mundrick
    Doug Mundrick Member ✭✭
    The same thing is happening with my Citi Mastercard account. Is this going to get fixed by Quicken?
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