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Unmatching transfer between 2 accounts

edesaintdidier

Hi i have both my personal bank account and my own self employed company in Quicken. When i am paying my salary, it appears in Quicken as a transfer between the 2 accounts and as matched entries. If i change the category from transfer to be salary or paycheck, the transaction in other account will disappear. Do you know how to solve that ?

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Quicken Anja

Hello @edesaintdidier,

Thank you for reaching out to the Community with your question.

For clarification, are you wanting the transactions in each account to be linked transfers, or are you wanting to assign a category to each transaction in each account without them being linked as transfers to each other?

Thank you!

David Green

I think that you are saying you want the transactions to show up in the register of both accounts, but you also want to change the category in your personal account to be Payroll or something similar. You need to set them up as unmatched transfers. this way Quicken treats them as as individual transactions in each account and you can categorize them separately.

edesaintdidier

OK and how do i set them up as unmatched transfer ? i did not find anywere an option to unmatch ?

volvogirl

A transaction can not have a category and be a Transfer. Either One or the other. The Transfer account will be the category. To unmatch it just change the category to an income or expense category from the transfer account name. It will be deleted from the other account. A transfer will have the other account name in square brackets like [Savings Acct].

For self employment income I can tell you a lot more but if you file it on Schedule C in your personal tax return you do not pay yourself a salary. It is a disregarded entity and the Net Profit or Loss is your personal income. You just make a transfer from the business account to your personal account like it sounds like you originally did. You don't classify it as "salary" or "paycheck".

volvogirl

I think what that other poster must have meant is unmatched Transactions (not transfers). You would need to enter a separate transaction in both accounts.

edesaintdidier

Well my issue is when i update my transactions via automatic download (wells fargo in tat case), the transaction are automatically tagged as transfer and matched. And then when i change the category of one of the transaction, the other is deleted automatically which is very annoying as i need to add it back manually. So how i can have quicken in the 1st place not matching transaction, so i can change them without deleting the other automatically ?

TTSguy

If you have the preference set to notify you if it's a transfer from acct to another answer no. You can set that in "Preferences" and you can also ask you if the transfer is from acct 123 to acct 456

RioBlanco

I am also seeking a method (currently I don't believe it exists) to unlink previous transfers between two accounts, without having the transaction deleted In one of the accounts. I understand that Quicken treats a transfer as neither "income or expense" and that transfers and categories are essentially mutually exclusive (you can assign a category to a transfer but it will not show up in reports). However there are occasions (now in hindsight) where I would have liked to categorize (as the original poster) the transfer e.g. income, so that it shows up in reports as a category. Going forward is not an issue (just don't create the transfer in either account or have the auto link option selected in preferences), but in hindsight it appears there is no way to currently unlink these old transfers without deleting the transactions in one of the accounts

Chris_QPW

This has been one of my complaints from the day they introduced automatic transfer detection and frankly even before that.

Quicken shouldn't remove the second part of a transfer when you change the category on one side of it without asking the user what to do with the other side of the transfer.

q_lurker

RioBlanco said:

I am also seeking a method (currently I don't believe it exists) to unlink previous transfers between two accounts, without having the transaction deleted In one of the accounts. … but in hindsight it appears there is no way to currently unlink these old transfers without deleting the transactions in one of the accounts

I agree there is no one-step way to unlink and keep the two independent transactions. My suggestion for a workaround—

Rt-click and copy the existing transfer.
Rt-click and paste the copy into the same account. You now have two such transactions in both accounts.
Edit one to no longer be a transfer. This account now has two transactions; the other account has one.
Switch to the other account and edit that remaining transaction to no longer be a transfer. You now have two unlinked transactions.

I tried this with two cash accounts with good results. Have not tried it with credit or investment accounts. Good luck.

RioBlanco

q_lurker....You sir are a genius!. Great fix. I successfully changed 13 years of old transfers with this method. Used Duplicate transaction vs copy and paste, but otherwise was able to edit all transactions as a group in 3 steps!