Any tips for getting transfers be recognized correctly and reliably?
I have a somewhat complicated financial life with a large number of accounts, and many transfers between them I need to keep track of. Sometimes Quicken identifies transfers correctly, but just as often I'll end up with downloaded transactions with incorrect destinations, or the two sides of the transfer will each be assigned itself as the category instead of the other end of the transfer. In that case I have to delete one of the two transactions, and then change the category on one of the sides to be the destination account.
What can I do to help Quicken get these transfers right more reliably?
Does it help to use memorized transactions/payees in some way, even when the dollar amounts on the transfers are rarely the same number?
Comments
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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 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.-1
