How to manage deposit and payment transactions from same payee?

MAJYK4

Setting up a small reselling business. I will have transactions coming in from my bank where the payee provides both deposit and payment transactions. For example, I'll be making purchases within Amazon and then in turn selling it, so my bank will be sending me 2 transactions for Amazon (1 where I'm buying (expense) and another where I'm selling (income)). I don't see how a memorized transaction can be established to handle this. Any help would be greatly appreciated.

UKR

You can use two memorized transactions, one for deposits, one for payments. Both can have the same payee name or, you can use slightly different payee names, e.g., "Amazon Purchases", "Amazon Sales".
Either way, please make sure to turn on the "Lock and leave … unchanged" checkbox in the Edit Memorized Payee dialog, so you can use this memorized entry as a model for future transactions.

When entering a new transaction into the register, select the payee name and, from the selection popup you will see both entries. Select the one you need.

And if you find out you need more than two, for different needs, go ahead and create a new register transaction, then memorize it, so it will pop up in the new transaction selection list:

MAJYK4

UKR

Thanks for the quick reply. I can see how this can work when manually entering transactions. I'm having difficulty understanding if it will work for transactions automatically downloaded from the bank. Does the program recognize deposit versus payment and then selects the corresponding entry from the memorized list to update accordingly?

Chris_QPW

@MAJYK4 there isn't any automatic way to handle this the current features that Quicken has.

Some have suggested memorized payees that would fire differently depending on the amount, but no such feature exists at the moment.