Transaction discrepancy

Question

I'm trying to chase down a $7500 discrepancy in my ledger, and I *think* I have it isolated to these two transactions; see attached screenshot.

This money was first received as a check and deposited into "BOA Checking" account. Then, I did an intra-bank transfer for the same $7500 from "BOA Checking" into the "My Car" account.

Does what I describe above match what I show in the screenshot?

I can't tell, since I don't fully understand the brackets and the transfers. All I know is that my final balance for this account is off by $7500 when I compare Quicken to my bank statement!

Thanks.

Screen Shot 2021-12-07 at 9.02.27 PM 2.jpg

jacobs · Answer

The bottom transaction shows it is a transaction in the My Car account, not your checking account. So a positive number here reflects money coming into the My Car account.

The top transaction shows it is in your BOA Checking account, and it shows $7,500 going out to the My Car Account.

These two transactions are actually one transaction: a linked transfer, with money coming out of one account and flowing into another account. That all seems fine.

What's missing is the deposit of money into the checking account. Thus the discrepancy between your Quicken balance and your real-world balance.

If you're confused seeing both sides of the transaction in the view you posted, click on the checking account in your sidebar. What you should see is a deposit of $7,500, a positive number. Then you should see the transfer transaction, a negative number. It sounds like the former is missing.

I can't offer any input on why the deposit transaction is missing; I don't know if it's an error from your bank or something you inadvertently did. But if that's what's missing, I'd just enter the missing deposit, verify that everything is now correct, and move on. :)

aksdjfhlk23fkjhsa · Answer

The My Car account is an actual account at my bank (separate from BOA Checking). What I did IRL was take the $7500 CarMax check, deposit it into BOA Checking, then I logged into BOA and transferred $7500 from BOA Checking to the My Car account.

I guess I'm confused. The bottom transaction in the screenshot shows a positive (green) $7500. Doesn't that indicate the money came into the BOA Checking account? Or am I reading that wrong?

I guess I don't know what it SHOULD look like.

If that bottom transaction isn't the deposit of the original check from CarMax, then I don't know why it's missing. (I've thoroughly done searches for it and these are the only transactions related to that event.) All of this was downloaded electronically from the bank, not input manually.

Thanks in advance for the tips in figuring out how it SHOULD read!

jacobs · Answer

My question is about this My Car account. Is this an account that exists in Quicken to try to track the value of your car or car loan? You described it as an "intra-bank transfer"; is this an actual loan account?

What I think I'm seeing in that screenshot are two sides of a single transfer transaction. It shows $7,500 coming out of your BOA Checking account and $7,500 going into your My Car account. Is there a separate transaction for the deposit into the checking account? That's what seems to be missing based on what you've shown here.