Transactions occurring in the wrong accounts

MikeQuick

Hello all!

I am new to Quicken and I noticed that after I pay my credit cards or make bank transfers that the balances in the register are wrong, and the issue I'm finding is that its putting the payment/transfer transactions in the wrong place. This only occurs when paying off credit cards or making bank transfers. For example, if I pay off credit card #1 #2 #3 individually, Quicken thinks that all the payments are somehow a transaction inside of credit card #4.

I have my accounts on auto-reconcile for what its worth. What do I do to just make it match the reality?

Bonus Question: Is there an easy way to make everything just match the internet balances and transactions 1:1? I noticed its not showing any pending transactions

Thanks

splasher

Regarding pending transactions, why would you want to have the restaurant pre-tip pending amount entered into your credit card account? What about those pending $1 gas transactions that are there just to confirm that the credit card is valid, do you really want those cluttering up in your register?

The only transactions I want are after there is a finalized, posted amount.

angeliquemarie

I have the same issue, payments not matching the correct accounts. What is most frustrating are the transfers between accounts from the same bank.

MikeQuick

@splasher Yeah, actually I like seeing all pending transactions because I just want everything to match online 1:1 even if it's a small temporary transactions that occur occasionally. I'd rather see the big transactions that I know about in quicken than wait until it cleared. But thats just a personal preferance of how I like to see my numbers. If you know of a way to see pending transactions, please let me know.

@angeliquemarie Exactly! it's between the same bank and for some reason the bank account transfers and the credit payments transactions within the same bank are being automatically posted into seemingly random accounts instead of the correct bank accounts. Its very annoying. I am new to quicken and I'm hoping it's just user error, but I am considering if quicken is the right tool for me if I still have to go in and change things that should just be automatic if it's a subscription service. Anyone have any advice? I'm not looking to do anything crazy - just expecting the basics. Thanks

UKR

Transaction download problems with matching and adding new transactions correctly

First please ensure that all optional settings in Quicken pertaining to recall, memorization, automatic categorization and renaming of payee names are enabled. You find those settings in Edit / Preferences / Data Entry & Quickfill and Downloaded Transactions. Additional settings for the detection and processing of transfer transactions can be found in Edit / Preferences / Transfer detection.

Are you automatically accepting downloaded transactions into your registers?

If you are relying on Quicken to "automagically" fill your account registers from downloaded transactions, you may run into problems. Despite all efforts by the Quicken programmers, the "Autopilot" (that's my name for the part of the Quicken program which processes downloaded transactions and converts them into new register transactions) is not infallible. For that process to work 100% of the time one would need a crystal ball because the information downloaded from the banks often is just too terse and cryptic.

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. Click on and review each downloaded transaction, make changes if necessary (e.g., to get a payee name = "Starbucks" instead of "POS TRANS 070119 STARBU", "POS TRANS 070219 STARBU", "POS TRANS 070319 STARBU" or to assign a category) before you click to accept each transaction.

Any changes you make to downloaded Payee Names are remembered in Renaming Rules.

Any other changes you make (add/change Category or Memo text) are remembered in the Memorized Payee List.

Next time the same transaction for this Payee comes along, Quicken should remember and give you a better new register transaction.
Paper checks you write should be recorded in Quicken as you write the check (and BEFORE you download transactions which might contain the cleared check). That gives you a register transaction with correct check number, payee name and category. No matter what information is downloaded from the bank, you already have a correct register transaction which the downloaded data cannot mess up.

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 Autopilot's process. Because a correctly entered transfer transaction already exists in your account registers, the Autopilot should just match the downloaded transfer transaction to the existing one in both accounts.

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.

q_lurker

For myself, I find pre-entering such transactions using scheduled reminders most effective. When I tell the cc-company to pull $X from the checking account on day Y, I make that entry into Quicken.

If you are committed to relying on the bank downloads, you likely need to create the right renaming rules to keep the payments to similar cards separate and distinct.

micetro9

I am have same problem. Not before R52.20 but after install. On quicken I go to my bank WF and transfer $100 from checking acct 1 to checking acct 3. everything is ok on the quicken side. When I logon to WF, It shows that I have requested a transfer from checking acct 1 to checking acct 2. This is clearly wrong. I checked my "One step update settings" and they are correct.