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Downloading bank transactions

turg

Hi,
Im trying to download my Master Card transactions in Quicken Home & Office for the first time. When I select Link to an existing account I don't see my Quicken account for my Master Card. Why?
Best regards.

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turg

Looks like a bug to me

Arctic Hare

@turg - this is unlikely a bug. There can be several factors that come into play. It would be helpful if you provide some additional information:

What financial institution?
Do you already have transactions entered into an account that you have set up in Quicken?
Are you trying to download the transactions using Web Express (from the financial institution's website) or are you using Express Web Connect and One Step Update where the download is initiated from within Quicken?

turg

National Bnak of Canada
Yes
From the institution
I've tried within Quicken but Quicken wanted me to create another account. I don't want that.
Best regards

Arctic Hare

It appears that Quicken does NOT support Express Web Connect for National Bank, so, yes, you will have to use Web Connect, which you initiate from your bank's online banking website.

The most common issue with not being able to link to an existing account is that you have an account type mismatch. Right click on the account name in Quicken, click on Edit/Delete and on the main tab check that the account type is set to Credit. Quicken won't let you connect a credit card download to a chequing or savings account.

If the above is not the issue, I suggest you do one of two things:

Create a new quicken account as a test and download the transactions into that account to confirm that works OK
Allow Quicken to download the transactions into you main file into the new account and see if that works. You could always move the existing transactions from the original account to the new account in one step. This might be a solution... but first confirm what I mentioned in the 2nd paragraph above.

turg

When I downloaded the transactions from NBC and created a new account the opening balance was at +$3053,84. It's a credit card the balance should be negative. The transactions did get into the new account, but the result is completly wrong.

turg

I'm going to keep reconciling manually. [Removed - Violation of Community Guidelines]

Arctic Hare

Sounds like you should use the "Report a Problem" feature and also contact Quicken support by phone or chat - because of the inverse signage (+/-). I am aware of a few circumstances where there have been credit card accounts with the wrong +/- in the downloaded data. There was a recent post about that from another Canadian user, but I can't recall offhand which financial institution was involved.

Arctic Hare

Add - wrong signage in the download data is a bank issue, not a Quicken issue, but, Quicken should have a contact at the bank and be able to report the issue to an appropriate resource at the bank. Quicken can't fix that issue; the bank would need to correct it. And, in my experience, one is pushing on a rope if one calls one's bank to report an issue with transaction download data.

Because the credit/debit signage in the account is inverted in the downloaded data that suggests that the bank doesn't have the download data stream set up correctly and that could very well be what is preventing the linking of accounts in Quicken. Your bank is basically sending data in the format for a bank account when it should be sending it in the format for a credit card. Again, it is entirely the bank that needs to correct this issue, not Quicken. In summary - there is one issue, not two here and that issue was caused by and needs to be fixed by your bank.

turg

I don't aggree with the last response. I't not the bank fault if Quicken doesn't recongnize an existing Credit Card account created in Quicken. I'll try with the chat with Quicken support.
Best regards.

Arctic Hare

turg said:

I don't aggree with the last response. I't not the bank fault if Quicken doesn't recongnize an existing Credit Card account created in Quicken. I'll try with the chat with Quicken support.
Best regards.

It is the banks fault because you've set the bank up as a certain type of account and the bank is providing a data feed that declares the account to (incorrectly) be a different type of account. If the account is credit card account the banks data feed needs to include the code that declares it to be such in order for Quicken to map it to such. This is actually good programming that, when the data sends the correct data, prevents you from mapping a banking/chequing/savings account to a credit account in Quicken. That would be problematic because of the credit/debit reversal between the two types of accounts. You can argue all you want that this is a Quicken problem, but it likely isn't.

You've already proved that when you import the data successfully you get inverted -/+, which clearly shows the data feed incorrectly identifies the account. You've actually proven yourself this is data feed problem.