not transferring between accounts

I have 2 bank accounts at Chase. one receives deposits electronically and I often transfer those funds to the other bank account. When I download transactions to Quicken it records the electronic deposit to the first account, records the transfer to the second account but does not deduct the amount transferred from the first account. Hence, when I try to enter the transfer manually I have duplicate deposits in the second account. When I go to remove the duplicate deposit, it double deducts it from the first account.

Best Answer

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Answer ✓
    I suggest entering the transfer transactions into the registers before they're imported to provide Quicken with a transaction to match.  I also suggest disabling the transfer detection preference: select Edit > Preferences...


Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭
    What transaction is used for those transfers?  What is the CATEGORY for those transfers?  It should be the name of the receiving account enclosed in square brackets, e.g [second account].

    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Answer ✓
    I suggest entering the transfer transactions into the registers before they're imported to provide Quicken with a transaction to match.  I also suggest disabling the transfer detection preference: select Edit > Preferences...


  • BK
    BK Member ✭✭✭✭
    edited March 22
    What is odd about your case is that you do not receive the deduction transaction download into your first account - is my understanding correct?  If so, That is the core issue that needs to be investigated and addressed: why does Chase give you the initial deposit download but not the subsequent deduction in the first account?  Hence a missing transaction.
    Could this missing transaction be sitting in the downloaded transactions pane or placeholder, waiting to be accepted into the register?
    What Quicken version are you running?  What is the connection method for both of your Chase accounts?  The very top of your registers should indicate if they are Direct Connect or Express Web Connect.  Chase supports Direct Connect at no charge and is recommended.
    - QWin Deluxe user since 2010, US subscription on Win11
    - I don't use Cloud Sync, Mobile & Web, Bill Pay/Mgr

  • sailnbyu
    sailnbyu Member
    thank you. I will check this
  • sailnbyu
    sailnbyu Member
    I think NACPA has helped me fix my problem at least going forward
  • sailnbyu
    sailnbyu Member
    I mean Sherlock, but you were all very helpful, thank you
This discussion has been closed.