Why is Quicken dropping transfers into other bank accounts also in Quicken?

pennyr
pennyr Member
The opening balance in a reconciled account too often is incorrect. Im able to determine that some transfers between bank accounts are downloaded, accepted and the account is reconciled, but at some later point the 2nd half of the transfer disappears and when I try to "Go to matching transfer" I get the message "The transfer transaction is to an account that no longer exists in Quicken.: But both accounts ARE in Quicken.
What is the glitch?


I have 23 bank accounts in this Quicken Home & Business file. I have been a user of quicken since 1986. This issue will force me to choose another software.

Comments

  • Quicken Jared
    Quicken Jared Moderator mod
    pennyr said:
    The opening balance in a reconciled account too often is incorrect. Im able to determine that some transfers between bank accounts are downloaded, accepted and the account is reconciled, but at some later point the 2nd half of the transfer disappears and when I try to "Go to matching transfer" I get the message "The transfer transaction is to an account that no longer exists in Quicken.: But both accounts ARE in Quicken.
    What is the glitch?


    I have 23 bank accounts in this Quicken Home & Business file. I have been a user of quicken since 1986. This issue will force me to choose another software.
    Hello @pennyr,     

    I am sorry to hear about this problem with transfers. Thank you for reaching out about this on the Quicken Community. 

    Are you noticing this happening with multiple accounts? 

    Where is your current active data file located? You can check this by going to File > Show this file on my computer in the upper menu at the top of the screen. Make sure that the data file is located on your computer, and not in an external hard drive, or on a cloud-based storage service.

    I look forward to hearing your response. 

    Thank you,

    Quicken Jared 
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Check the setting at Edit > Preferences > Transfer detection. "Scan downloaded transactions for possible transfers" should be selected.

    When you first accept the downloaded transaction, is it recorded as a transfer on both sides? 

    Are you saying that at some later date the transfer is broken? What exactly happens? Does it show as a transfer to the correct account on one side with no matching transaction on the other side, are both transactions in the registers but it is no longer a transfer, or what?

    Has this problem existed for a long time, or did it start recently?
    QWin Premier subscription
  • Ashraf Rajabali
    Ashraf Rajabali Member ✭✭
    I am having similar issues as member pennyr.
    I am a Canadian user. So far I have noticed this problem with random transfers and with random automated bills. This problem is very obvious in Banking\Credit card accounts. I am not yet sure about investment accounts, because the frequency may be low here. Too many times I re-consolidate my bank\Credit card account, only to find a few dropped transactions either in the source account or the target account. In cases of automated bills, the billing transaction just disappears.
    I also notice that this problem did not exist about 2 years ago. It seems to have manifested in the newer Q versions, since Quicken attempted to hold synchronization data on their own cloud. There seems to be a clash between local data in my computer and the cloud data. Typically a silent edit happens behind the scene. The silent edit could be a change in the opening balance or dropping of some transactions mentioned above.
    Typically, I end up fixing my data every second week. This is double or triple the work, not a good reason to keep using this software.
    FYI, my Q-files exist locally on my PC. They have been there for at least 15 years.
  • pennyr
    pennyr Member
    this dropping of transactions is occurring more and more frequently - and to reconciled transactions in previous years causing the opening balances to be off. I am tracking my income for 2 home based business - and when those transactions disappear - YIKES! I can't keep going back and making multiple account opening balance adjustments because I can't even identify the missing transactions until I compare the data to the bank statements. This renders the data useless for tax purposes and for tax return substantiation. Such a disappointment.
  • UKR
    UKR SuperUser ✭✭✭✭✭

    For best results manually enter transfer transactions into your register BEFORE you download transactions from the bank which contain the transfer confirmations. For recurring transfers use scheduled reminders and enter them a day or two before the due date. Be sure to use distinct Payee Names for each transfer / credit card payment to avoid confusing Quicken - memorized payee entries.
    That takes the guesswork out of the download matching process. Because a correctly entered transfer transaction already exists in your account registers, the process should just match the downloaded transfer transaction to the existing one in both accounts.

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