Downloading transactions and time of day?

PYohe

Does it matter what time of day I download transactions?

If I download transactions at 8:00 a.m. on a Monday to get transactions up to that Monday, will it only download the transactions that happened up to the exact time I downloaded?

If the banks posted more transactions after 8:00 a.m., it stands to reason that transactions posted after 8:00 a.m. will not be on the downloaded balance.

Then the next time that I download transactions, will it automatically skip the transactions that were already downloaded before 8:00 a.m. on that Monday? Or will it download ALL transactions with that date?

Thanks.

volvogirl

I think it will download all up to the time you download it.  Then yes it won't download the same transactions again.  It keeps track and only downloads a transaction once.  

Chris_QPW

I think your actual question is if downloading more than once a day will give you duplicate transactions.  The answer is it shouldn't.  Every transaction has a unique Id associated with it.  You can see this Id if you turn on the Downloaded ID column in the register.  Quicken uses this Id to block importing the same transaction again.

But, note with Express Web Connect some actions like Resetting the account or Deactivating/Reactivating the account for downloading transactions might cause different unique Ids to be sent to Quicken and as such you will get duplicates right after that action.

splasher

It depends on the financial institution and the type of download. See this article on the different download methods.  Express Web Connect will always be the next day due to the overnight collection process.  Direct Connect and Web Connect will be determined by the FI. 

As an example, my CU does not provide today's transactions until tomorrow for the Web Connect .QFX file.

When they supported Direct Connect, it was real time, I could do transfer between accounts on their website and then immediately get it for download.

PYohe

Good to know. Thanks.

NotACPA

I have Scheduled Updates set to run Mon-Sat at 7am.  But the vast majority of my accounts are "Direct connect".

PYohe

I don't know which are direct connect and which are web connect...I need to find that on the menu.

splasher

The download method is shown on the Account List (Tools menu).

Chris_QPW

It is also shown at the top of each register.