New loan account & creating a deposit for it

Romanof

I've been using Quicken for more than 10 years but have now come up against an unknown. I took out a consolidation loan and created an off-line account for it. Problem is, the amount was deposited to my checking account. How do I reconcile this? I can't just transfer the loan amount to my checking account since that creates a double amount.

Chris_QPW

You should change the Opening Balance transaction in the loan account to be a transfer to your checking account.  Note if that had been done first you would then match the downloaded transaction in the checking account to that transfer.

Chris_QPW

You should change the Opening Balance transaction in the loan account to be a transfer to your checking account.  Note if that had been done first you would then match the downloaded transaction in the checking account to that transfer.

Romanof

Your answer was perfect. I changed the opening balance category to (checking). Thank you.