How do you edit a transaction without having to clear it?

karensc7

Just got a subscription yesterday to Q Deluxe. I've been going through it slowly and tonight, was trying to correct categories in the downloaded transactions. My issue is with a CC payment. I was working on a Target payment from this past January.

In my checking register, it read:

Payee: Target
Category: Shopping

In my Target register, it read:

Payee: epayment
Category: [Target Credit Card]

This doesn't look like a transfer to me, so I was editing the category in Checking to be a transfer to Target. When I did, one of the accounts ended up being uncleared and I couldn't match it to clear.

I ended up deleting that particular payment and will be entering it manually.

I just tried again with a different payment and then was prompted "Is this the same as X in Checking?" and clicked yes, which then made both a transfer. Not sure why I wasn't prompted with the first payment I tried to edit? A glitch maybe?

karensc7

I just tried again while working in the Target register.... Some of them I get prompted, others I don't and the transaction ends up being uncleared in my Checking register. Why would it prompt me for some, but not all? The amounts are the same in both registers....

garysmith87

The transaction in your checking account has the wrong category.

In your case, instead of Shopping, a credit card payment should be [Target Credit Card], where the Quicken name of the credit card should be enclosed in square brackets, as shown.

You'll then find a corresponding transfer in your Target Credit Card account with your checking account in square brackets.

These indicate a transfer of funds...in your case a payment.

However, downloading transactions can't ascertain that this is a transfer.

The solution is to change the category to a transfer in the checking account and delete the extra transaction in the credit card account.  But most Quicken power users will enter the transfer payment manually PRIOR to the transaction being downloaded.  And then, when the transactions download from each different account, they will match the already entered transaction.  

All other transactions that you make with the Target Credit Card for purchases and returns will be recorded in that register...with the proper category you select.  

karensc7

@garysmith87 Thank you. The category name was what Quicken assigned it when I first downloaded everything to set up. I appreciate your explanation, which helps a lot. Now my original question remains - how can I mark them as cleared? When I try, there is no transaction to assign it to.

Thanks again!!

garysmith87

Quicken is not set it and forget it.  There is some manual intervention required, especially for new users as Quicken does not know how to categorize transactions 100%.

You asked how to mark transactions as cleared?  Are you downloading transactions or entering them manually?  If you download them, do the transactions appear in the Downloaded Transactions pane below the register or do they automatically get entered into the register?

Answering the above will help determine your course of action required.  

karensc7

Oh, I wasn't worried about how Q had categorized it. I was just simply letting you know that's why it was categorized incorrectly to begin with.

As for clearing... When I first installed Q, I had it download the transactions. Everything showed as cleared, which was fine. The issue was as soon as I changed the category, the transaction then became uncleared.

I just looked again and saw that I missed the Reconcile Status under the More Actions cog, so the cleared is a moot point.

I greatly appreciate your guidance, @garysmith87. It's very appreciated.