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Credit card payments being categorized as transfers to same account, not checking account??

Marilynsanta

For awhile now, most of my credit card payments are downloaded and automatically categorized as transfers to the same account, e.g. Chase credit card payment shows [Chase credit card] as the transfer account when it should be my checking account. This is occurring with all credit cards. I have to manually change each one. How to solve?

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Jerry_

I am having the same problem with my Chase Credit card transfer reminders. As I remember, I have to go to the "Edit Bill Reminder" window of the Transfer, click on the "Detail" Box and choose my credit card that is to receive the transfer payment. (vs. my checking account).

Boatnmaniac

I started seeing this with some of my accounts, as well, but not just with credit card accounts. I'm also seeing it with some checking, savings and investment accounts.

The first thing I did was to check my Preferences to see if Transfer Detection had been turned off. But that did not happen so that is not the cause.

For me it does not happen all the time but it has made me be a little extra careful in reviewing downloaded transactions for correct categories before I accept them into the registers.

UKR

In case 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 and categorized 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.

Boatnmaniac

https://community.quicken.com/discussion/comment/20371332#Comment_20371332

Yes, this is a best practice and I already do that. What has been happening to me is that Quicken is not matching the downloads correctly to the pre-entered transfer transactions. This has been happening with transfers where there are time delays in when the transactions get downloaded into each of the accounts. For instance, a credit card payment transaction downloads on the correct day and matches correctly to the pre-entered transfer transaction. But that payment in the checking account downloads anywhere from 1-4 days (sometimes even more days) after the date of the transaction in the credit card account. Usually Quicken does a good job of matching the download into checking to the credit card transfer transaction. But the last few weeks sometimes Quicken is not doing that and instead enters the category as a transfer to itself.

It's weird. It's not happening a lot in my data files so I'm just watching it to see if it goes away or if it gets worse.

sean gl

This is an issue I am having as well started about a month ago. Seems to me this is a issue Quicken needs to resolve. It downloads where coming out fine in the past,, why should we expect Quicken to fix this?

Sue60

Hello, I've used quicken for over 30 years and have never had to pre post payments to credit card to have Quicken download transactions properly, UNTIL just a few months ago when I started Quicken from scratch. As stated in the example above, transfers come out as, e.g. Chase credit card payment shows [Chase credit card]. Has quicken added so many features, I personally could do without, that it has lost sight of basic functions?

Sue60

In addition to the above, if I manually change the transfer in the credit card account to coming from checking, I then have to go back to the checking account and delete one entry, e. g.

Chase credit card payment [Chase credit card] payment of $50

Chade credit card payment [Checking account] payment of $50

Something is very wrong with this.

Jerry_

I wonder, if one is utilizing the "Bills" Tab (Bills & Income), and has a reminder linked to a Chase credit card entry there, and then chooses "Refresh Bill", what happens to the linked reminder entry?

UKR

https://community.quicken.com/discussion/comment/20372650#Comment_20372650

And that's why I've been recommending an alternative procedure (see my earlier comment in this discussion). It avoids all these extra steps that you described and helps keep your account registers in shape. No duplicate transactions, no misdirected transfers.

Marilynsanta

A mature software product which focuses on online updates should never need “pre-loading” for a routine process. While I appreciate the work around given (UKR), it is unacceptable as a matter of quality. Quicken, for years, as Sue60 points out, worked just fine for credit card payments. It is now broken and needs to be fixed!

Sue60

Agreed! Marilynsanta