Transfer loan payment to same bank not linking transactions
I transfer a loan payment from my checking to (same bank) loan every month yet Q does not link them correctly.
I have difficulty making this connection for my budget.
How do I make this happen
Answers
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Hello @rfasano,
Thank you for reaching out to the Community and telling us about this issue. I'm sorry to hear you're running into this problem. Are you documenting this transfer manually, or is it downloading into Quicken from your financial institution? Has it always had this problem, or was it linking properly at first, but then stopped (and if so, when did it stop linking properly)?
Thank you.
Quicken Kristina
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The transfer is downloading from my bank but the corresponding entry never syncs up.
I always have to tweak the from and to entries to force the connection at which point I get a message " Q found these two transactions - do you want to match them?" I select "yes" then my budget entry syncs up.
This transaction has never worked to my knowledge.
Confused!
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Quicken quite frequently has a problem recognizing that a pair of downloaded transactions are the two sides of a loan payment transfer.
IMHO, it's best if you set up a Scheduled Reminder Transaction for making the loan payment, with correct splits and categories for Principal amount, interest and (for mortgages) optional escrow amounts.
Recording this reminder BEFORE downloading from the bank after due date will give Quicken a correctly categorized transfer transaction to match the downloaded data to, without causing any other problems.1
