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Split transactions and how they post to accounts

acs2

I often will pay a vendor for multiple items at the same time. I entered the payment as a split transaction. Some of the items are assets and I post each separately under category using the Asset Account name. In one split transaction there may be a few postings to the Asset account. After saving that payment I look at what happened in the asset account. It lists the total of the payment to all of the asset account. And in the memo field will often be from one of the items in the split list.

Why would there be anything in the memo field except memos placed in the memo field of the transaction, which I have never seen appear?

Thanks

see example from the Asset Account

Quicken question.JPG

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NotACPA

You create a txn in your checking/card account for the full amount and then you split it to assign multiple categories and/or transfers to asset accounts.

Your graphic doesn't show enough for anyone to understand what's happening. We'd need the dollar columns in the checking/card split

Ps56k2

I only have a test file with Split Transactions -
Here is a test example …. for Medicare payments -

volvogirl

I thought I had a note about this more than I am posting. But if I remember if you have a split transaction and entering more than 1 line to the same account it will combine them in the other Asset account and post 1 total. You can probably go to your Asset account and split them out. Or you might need to use an intermediate account.

When you split a transaction to the same [transfer account], is it possible to show both splits as individual transactions in the recipient account?
If you use a different Tag on the two principle payments, they should stay separate.

volvogirl

Here's more I found…..

If you split your credit card payment into the categories and some of the categories are Transfers to the same Account it will lump all them together and make 1 transaction in the Transfer Account.

See what Jim found out, Jim said........
I have determined that the asset account 'total' is ok. It was consolidating the transactions from one CC payment and transferring them to the asset account in one lump sum, e.g. if there were three Amazon purchase for $100 each, even though I split them separately, they transferred over as $300 and of course I lost all the carefully crafted memo lines.

Then splasher said….
Yeah, if you have more than one line in a split categorized the same way, the lines get combined in the destination. It is not a bug or defect, it was designed that way whether we like it or not. If you create an account to track your credit card in, then those transactions would be individuals and would show up as individuals in the destination

acs2

I agree the total in the asset account is correct. Thanks for the idea od using different tags.

The asset account total which represents a few entries in a split also includes a Memo which only belongs to one of the split entries. IMO there should be no memo in the asset account which is th sum of a few entries. The memo only relates to one of those splits.

volvogirl

You can probably change the memo on the Asset Account total without affecting the payment account. Maybe list all 3 items in the memo line.

acs2

thanks for the work around but often many transactions go into the total. IMO the memo should be left blank rather than a random one or last one being listed. If there is an overall transaction memo then that should be list in the asset total.

volvogirl

If you often have this situation you should probably set up another account. How are you paying these? Is it on a credit card? There may be a better way to enter the payments than splitting them out. If you pay the vendor by check you could set up an Accounts Payable Account to run it though. Then you could enter individual transactions in the Asset account to the A/P account and the payment would clear the A/P account.

acs2

thanks

I'll consider those options

Ps56k2

just wondering - any examples as to what is being tracked in this "Asset Account' ?

I often will pay a vendor for multiple items at the same time. I entered the payment as a split transaction. Some of the items are assets and I post each separately under category using the Asset Account name.

acs2

in this accounts are purchases that are"durable" such tools