deposits automatically depositing in 2 accounts

jpasmith

Something weird has started happening with my Quicken (Classic Deluxe R57.16). Sometimes when I deposit something in my Checking account, it will deduct it automatically from my Savings account. e.g. I entered a deposit into my Checking account from my 529, and as soon as I entered it, a debit appeared in my Savings account for the exact same $. It's as though Quicken thinks I am transferring that $ from my Savings to my Checking, even though it's clearly labeled as a Deposit and not a Transfer. I already went to Edit—> Preferences —> Transfer Detection and that box is not selected. Any ideas??

UKR

It's not what you put into the Check# field (DEP, etc.) or the positive or negative amount that makes the determination.
It's the Category which defines what you're doing.
I can only assume, but you may be using the same Payee Name for two or more different types of transactions. And that's why Quicken thinks that you're trying to record a transfer from Savings to Checking. Look at the Category field and set it correctly to the account register name the money came from or is going to.
Transfers are denoted in the Category field by using the register name of the "other" account, enclosed in [square brackets], e.g., "[My Checking]", "[XYZ CU Savings]"
If you're depositing money into Checking from an account which isn't tracked in Quicken you can't use this method. Instead, create and use a different Income category, e.g., "Retirement Withdrawals" and assign to an appropriate tax category if it's taxable Income.

As far as Payee Names are concerned, you should use distinct Payee Names for each type of transaction. This way Quicken can memorize the transaction and help you create a proper new transaction next time you do the same transaction.