New loan account & creating a deposit for it

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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.

Best Answer

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Answer ✓
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    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.
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Answers

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Answer ✓
    Options
    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.
    Signature:
    This is my website: http://www.quicknperlwiz.com/
  • Romanof
    Romanof Member
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    Your answer was perfect. I changed the opening balance category to (checking). Thank you.
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