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Internal account transfers flagged as foreign currency transaction (Q Win Canada)

Chris11

Recently, when I transfer money between two CAD dollar accounts in Quicken, the program seems to think it's a foreign currency transaction (CAD -> USD) and the popup screen comes up with the exchange rate. If I accept the conversion rate in the popup box, then it will enter the transaction, with the conversion rate applied.

If I cancel out, the software will enter the correct Canadian amount in the account of whatever screen is open at the time (regardless of whether it is the sending or receiving account); however the other account will not show any amount in the transaction field. In fact, if there is already an amount in that field it will delete it.

The only hack I've found it to manually change the exchange rate to 1.00

These are accounts I've been using for years without this problem. Both are Canadian Dollar accounts (I double checked in case Quicken changed it somehow)

Quicken for Windows R45.18 Build 27.1.45.18

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Comments

Arctic Hare

Are one or both accounts set up for download of transactions? If yes, what are the accounts types and which financial institutions are involved and are you using Web Connect or Express Web Connect? Also, please go to edit/delete for each of the accounts and confirm what is the "Account Currency" setting that you see.

Chris11

Arctic Hare said:

Are one or both accounts set up for download of transactions? If yes, what are the accounts types and which financial institutions are involved and are you using Web Connect or Express Web Connect? Also, please go to edit/delete for each of the accounts and confirm what is the "Account Currency" setting that you see.

Thanks Arctic Hare. I did some checking and this appears to be a known issue. I bank with Scotiabank and it appears something is happening with Express Web Connect where it is spontaneously converting accounts from CAD to USD. It's been a known issue for about a year now.

https://community.quicken.com/discussion/comment/20275874#Comment_20275874

This is one of many threads on the issue. Quicken seems to enjoy closing the threads to further comments even though it's an ongoing issue.

2023 marks my 25th year of using Quicken. I've never loved it. In recent years I've grown to hate it more and more as the platform grows more and more outdated and unwieldly. It has features I do not need and is missing many features I do need (features which I've emailed Quicken about and posted here). I have a Macbook and need to run VMWare Fusion just to run Quicken since there is no Canadian Mac version (really? In 2023?). It runs slow and crashes constantly. I. AM. SICK. TO. DEATH. OF. QUICKEN.

In order to resolve this issue it looks like I'll need to restore a backup from 5 months ago, disable EWC and reenter all the transactions by downloading individual QFX files. Due to the number of transactions, recategorizing them would take days.

I honestly don't think I have it in me anymore to continue using Quicken. Unfortunately, I just paid last month for another year's subscription.

Arctic Hare

Chris11 said:

Arctic Hare said:

Are one or both accounts set up for download of transactions? If yes, what are the accounts types and which financial institutions are involved and are you using Web Connect or Express Web Connect? Also, please go to edit/delete for each of the accounts and confirm what is the "Account Currency" setting that you see.

Thanks Arctic Hare. I did some checking and this appears to be a known issue. I bank with Scotiabank and it appears something is happening with Express Web Connect where it is spontaneously converting accounts from CAD to USD. It's been a known issue for about a year now.

https://community.quicken.com/discussion/comment/20275874#Comment_20275874

This is one of many threads on the issue. Quicken seems to enjoy closing the threads to further comments even though it's an ongoing issue.

2023 marks my 25th year of using Quicken. I've never loved it. In recent years I've grown to hate it more and more as the platform grows more and more outdated and unwieldly. It has features I do not need and is missing many features I do need (features which I've emailed Quicken about and posted here). I have a Macbook and need to run VMWare Fusion just to run Quicken since there is no Canadian Mac version (really? In 2023?). It runs slow and crashes constantly. I. AM. SICK. TO. DEATH. OF. QUICKEN.

In order to resolve this issue it looks like I'll need to restore a backup from 5 months ago, disable EWC and reenter all the transactions by downloading individual QFX files. Due to the number of transactions, recategorizing them would take days.

I honestly don't think I have it in me anymore to continue using Quicken. Unfortunately, I just paid last month for another year's subscription.

I empathize with a lot of what you've said... but I have had a similar currency problem with RBC in the past and I may be able to save you a bunch of work. You can create a new account in CAD and MOVE all the transactions from the account that got switched to USD to the new CAD account and then delete the old account. I'd make a backup before doing this, but it usually works. Using this method maintains the integrity of transfers. Of course, once you get the currency issue fixed using this method you need to avoid using EWC until ScotiaBank/Quicken gets the issue resolved or you'll have to repeat the fix.