Why does Quicken download transactions into the wrong accounts?

mebshopper

Why does Quicken download transactions into the wrong accounts? It has some of my credit cards with positive balances and some of my bank accounts with negative balances, and it's entered transactions into accounts that are for dates that pre-date the opening of the accounts. It's a big jumbled mess, and all I've done is connect accounts and update them. No manual entries.

Tom Young

Based on your profile you're a "new to Quicken" user?

(What follows is my assumption that your answer to the above is "Yes.")

"Why does Quicken download transactions into the wrong accounts?"

Well the most obvious answer here is that you have the accounts at the various financial institutions pointing at the wrong Quicken Accounts.

"It has some of my credit cards with positive balances and some of my bank accounts with negative balances"

Quicken, with the first download, typically can't download every transaction that has occurred in every account from the time the account was opened at the financial institution, unless you opened that account within the last couple of months. Each financial institution controls how far "back in time" transactions may be downloaded. A typical limit is 90 days so there's no way that initial download will get the current balance correct most of the time. In order to get that current balance correct you typically have to manipulate the Quicken Account's Opening Balance (that you entered at setup) and/or delete transactions downloaded that precede that Opening Balance's date. So depending on what Opening Balance you entered and the transactions downloaded, you can end up, with that first download before adjustments, with "backwards" balances.

"and it's entered transactions into accounts that are for dates that pre-date the opening of the accounts."

It's not clear here if you're talking about the opening of the accounts at the financial institution or your setup of the Accounts in Quicken. If it's the latter, then I've explained that and if it's the former then that reinforces that the financial accounts may be linked to the wrong Quicken Accounts.

If indeed this is your first try at using Quicken then maybe easier then trying to unscramble the egg would be to start with a brand new file and try again. Creating one Quicken Account at a time and sorting everything out with each initial download before progressing to the next Account.