Matching Downloaded Transactions

Marvin Gardens

Can someone explain how matching downloaded transactions is supposed to work?

I have an instance of Quicken for my mother. Every month she receives 2 direct deposits into her checking account. One for her pension and one for her Social Security. The date and amount of the payment are the same each month, so I set them up in Quicken as automatic scheduled deposits.

The scheduled transaction for her pension appears in her register on the 1st as expected. When I run the OSU on the 2nd it downloads the transaction from her bank and it appears as “Matched” I click Accept All and the transaction is marked as cleared.

On the 3rd her Social Security deposit appears in the register. On the 4th I run the OSU and download a transaction from her bank. Even though the date, payee and amount all match it is marked “New”. When I click Edit->Match Manually, Quicken says “There are no transactions to match”

I have to Accept the “new” transaction then manually delete the one that was scheduled.

What am I doing wrong? I have deleted and recreated the scheduled transaction several timed but it keeps happening. Why can’t Quicken see the uncleared transaction in the
register?

q_lurker

I can’t comment on why it is not matching, but I would delete the downloaded version of the transaction prior to accepting it. I know that the scheduled version is fully categorized, tagged, and otherwise recorded just as I want it. Maybe the downloaded version is just as adequate but maybe not(?). 

UKR

My SocSec deposit always arrives on the 3rd Wednesday of the month.

Are you saying your mother's deposit arrives on the 3rd day of the month?

If a register transaction is recorded with a future date, it can't have happened yet and is therefore not eligible for an automatic match. If it's recorded with a date in the past (more than 2 weeks past, AFAIK), it may not be eligible for automatic match but should be available for manual matching.

Frankx

Hi @UKR,

So you were born between the 21st day and the end of the month.

The SSA makes payments throughout the weeks of a month.  Here are the general guidelines:

In general, here’s how we assign payment dates:

• If you were born on the 1st through the 10th of the month, you’ll be paid on the second Wednesday of the month;
• If you were born on the 11th through the 20th of the month, you’ll be paid on the third Wednesday of the month; and
• If you were born after the 20th of the month, you’ll be paid on the fourth Wednesday of the month.

There are exceptions. For example, children and spouses who receive benefits based on someone else’s work record will be paid on the same day as the primary beneficiary.

Frankx

Marvin Gardens

Yes. She receives her direct deposit on the 3rd day of each month. Unless the 3rd falls on a weekend or a holiday then it arrives on the last business day before the 3rd. She has been receiving benefits since 1988. People who started receiving benefits before some date are on a different schedule. New recipients get their money on different Wednesdays based on their birthday. I was born on the 21st so I get mine on the 4th Wednesday.

This month the scheduled transaction appeared in her Quicken register on November 3rd. I ran the OSU on November 4th (today) and the downloaded transaction is dated November 3rd. If I log on to her bank’s website is says there was a deposit dated November 3rd.

So if there is a deposit transaction for $1,774.00 dated November 3rd from Social Security in the register, and the bank downloaded a deposit transaction for $1,774.00 from Social Security dated November 3rd, shouldn’t they match?

What puzzles me is that I have the same setup for her pension, except the date, payee and amount are different and they always match.

And I have a similar scheduled transaction in my instance of Quicken for my Social Security deposit and it matches just fine.

I just deleted the scheduled transaction and created it again. Let’s see what happens next month.