matching register date entries with downloaded bank transaction date entries

When I write a check I enter the date I am writing it in the Quicken register. When I download the transactions from the bank, it has the date it was cleared by the bank. When click Match when clearing the downloaded transactions, the dates stays the same as when it was written. Shouldn't the date change to the date it cleared the bank?

Best Answers

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Answer ✓
    The transaction date should not change to downloaded posting date.  To view the downloaded posting date in a bank register, open the register, press Ctrl + Shift + N, select Register columns..., check Downloaded posting date, and select Done.
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭
    Answer ✓
    Quicken is designed to not overwrite manually entered data with downloaded data.  If you want manually entered data to match different data that was later downloaded then the manually entered data needs to be manually edited to make that change.
    (QW Premier Subscription: R39.23 on Windows 10)
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Answer ✓
    Hi @tsnyder43,

    When entering transactions into a register (or journal) and whether the transactions are manual or they are electronic, the proper methodology is to use the current date.  So whether you write a paper check, or you make an electronic payment in an app or online, you should use the date you create the entry.

    The date a transaction is completed (which would include the date it clears the bank, or is electronically transmitted by the bank to the recipient) is a completely different event.  In some cases (electronic payment) it may happen on the same date, while for other cases (paper check) it may take some additional time.  With a paper check, no funds are transferred until the check clears the bank on which it was written - and if it never clears that bank, the payment does not exist ( and you still own the funds). 

    These are accounting/bookkeeping principles and while they may be somewhat less relevant in our current day and age of electronic payments, they haven't (and should not) change.

    Hope this helps, Let me know if you have any followups.

    Frankx

                            Quicken Home, Business & Rental Property - Windows 10-Home Version

                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

Answers

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Answer ✓
    The transaction date should not change to downloaded posting date.  To view the downloaded posting date in a bank register, open the register, press Ctrl + Shift + N, select Register columns..., check Downloaded posting date, and select Done.
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭
    Answer ✓
    Quicken is designed to not overwrite manually entered data with downloaded data.  If you want manually entered data to match different data that was later downloaded then the manually entered data needs to be manually edited to make that change.
    (QW Premier Subscription: R39.23 on Windows 10)
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Answer ✓
    Hi @tsnyder43,

    When entering transactions into a register (or journal) and whether the transactions are manual or they are electronic, the proper methodology is to use the current date.  So whether you write a paper check, or you make an electronic payment in an app or online, you should use the date you create the entry.

    The date a transaction is completed (which would include the date it clears the bank, or is electronically transmitted by the bank to the recipient) is a completely different event.  In some cases (electronic payment) it may happen on the same date, while for other cases (paper check) it may take some additional time.  With a paper check, no funds are transferred until the check clears the bank on which it was written - and if it never clears that bank, the payment does not exist ( and you still own the funds). 

    These are accounting/bookkeeping principles and while they may be somewhat less relevant in our current day and age of electronic payments, they haven't (and should not) change.

    Hope this helps, Let me know if you have any followups.

    Frankx

                            Quicken Home, Business & Rental Property - Windows 10-Home Version

                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

This discussion has been closed.