Deposit in Paycheck won't match downloaded transaction in Investment Account

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I have a direct deposit set up through the Paycheck screen to a Schwab investment account. When I download the transaction from Schwab, it does not automatically match the Paycheck entry, and does not allow me to manually match the two transactions, but wants to make another entry in the Schwab account. The entry from the Paycheck deposit shows as a "ContribX" Action, and the downloaded transaction from Schwab shows as a "Deposit." How can I connect these so they don't show as duplicates? Currently, I have to just delete the downloaded transaction each pay period.

Best Answer

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    Answer ✓
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    Getting Quicken to match a downloaded transaction in an investment account with a manually entered or an entered Reminder transaction is very difficult because the downloaded transaction must match the manually entered or Reminder entered transaction exactly.  In your situation the two transactions do not match exactly...the Paycheck entry is a transfer-in transaction but the downloaded transaction is a deposit transaction. 
    The problem is you cannot change the Paycheck transaction to a deposit transaction because it will not then transfer in the cash from the Paycheck to the investment account. And you cannot change what Schwab downloads to the investment account without creating a second transfer-in transaction. 
    From my perspective I think you have been taking the right action:  Delete the downloaded transaction each pay period.

    Quicken Classic Premier (US) Subscription: R55.26 on Windows 11

Answers

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    Answer ✓
    Options
    Getting Quicken to match a downloaded transaction in an investment account with a manually entered or an entered Reminder transaction is very difficult because the downloaded transaction must match the manually entered or Reminder entered transaction exactly.  In your situation the two transactions do not match exactly...the Paycheck entry is a transfer-in transaction but the downloaded transaction is a deposit transaction. 
    The problem is you cannot change the Paycheck transaction to a deposit transaction because it will not then transfer in the cash from the Paycheck to the investment account. And you cannot change what Schwab downloads to the investment account without creating a second transfer-in transaction. 
    From my perspective I think you have been taking the right action:  Delete the downloaded transaction each pay period.

    Quicken Classic Premier (US) Subscription: R55.26 on Windows 11

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