Downloaded Transfers not being Matched to correct account
When I am downloading transactions that have a transfer to another account (listed in quicken), Quicken is automatically picking an account to link for the transfer and creating transactions in the wrong accounts instead of matching them to the transactions in the correct accounts and I am having trouble getting rid of the extra transactions Quicken is creating that don't exist. What am I doing wrong?
Answers
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If you have issues with transfer transactions not being generated correctly:
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 process. Because a correctly entered transfer transaction already exists in your account registers, the download process should just match the downloaded transfer transaction to the existing one in both accounts.
You should, at least for a while, turn off the "automatically accept downloaded transactions into registers" setting to gain better control over what is downloaded and what to do with it.
Where are the "Auto-accept downloaded transaction" settings?
There are two places where this is controlled in Quicken for Windows:- Globally, for all accounts, in Edit / Preferences / Downloaded Transactions
- For each account individually, the global setting can be overridden from the Edit Account Details screen, Online Services Tab. Look for blue text "Automatic Entry is: ON / OFF". Click the text to change the setting.
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