Manually Creating a COINBASE Account

regracia

Coinbase allows to trade crypto.

Coinbase has a account base and a wallet with in coinbase I know and I don't care using Coinbase wallet.

I can purchased Crypto using one or all my Bank accounts. so that is fine and outside Quicken.

After a purchase Crypto like BitCoin that stays with the account so I want to track those purchases under Quicken.

So figure ok I know that Coinbase can not be connect to quicken to download transactions ok so I created a Coinbase investment account (MANUALY) EVERYTHING APPEARS OK!.

SO! When I purchase a Bitcoin I get charge a commission and also the charge appears on the bank account that I choose to pay for the BitCoin. Example if I purchase 500 dollars of BitCoin I get charge the 500 dollars on my bank account. I have created manually an investing account in quicken name COINBASE, so under CATEGORY of the bank charge I key [COINBASE] to indicate the transaction is a cash funding for that account then the plan is to enter the amount of BitCoin (BTC) and the price paid and quantity or fractional qty of Bitcoin and then create another transaction to enter the commission.

OK that is idea I guess I am wrong and there is a BIG BUG in quicken as soon as you enter in the category [COINBASE] quicken adds another transaction to your bank account and your balance is wrong by the amount of transaction, however the amount of this example of 500.00 is posted and Xin in the manually created investment account.

I can't use directly into the manually created account a Enter transactions with a transaction of "Cash Transfer into the Account" because you can't chose a particularly transaction from the Bank account.

So in conclusion creating a manual investment account DOES NOT WORK! THERE IS A BUG. THAT NEEDS TO BE FIXED or provided a method to keep those purchase and sells of BTC on Coinbase.

Looking forward for a solution, fix and or suggestion

Quicken Kristina

Hello @regracia,

Based on what you are describing, it sounds like what may be happening is that the way the information is being entered into the manual investment account is making Quicken think there is another transfer from the funding account.

To clarify, you have a manual investment account named COINBASE. When you purchase BitCoin, the transaction downloads into the funding account (based on your description, it sounds like that is a separate checking account). Are you manually documenting the Buy transaction in your investment account before the transaction downloads, or do you wait for the transaction to download, update the category to transfer the cash to your investment account, then do the Buy transaction?

When you add the Buy transaction to your investment account, are you choosing the account's cash balance as the source for cash for the transaction, or are you selecting the checking account as the account it's from?

If you're selecting the checking account it's from, that may be what is causing the transaction to show up twice: you'd have the downloaded transaction that you edited to show as a transfer, plus the automatically created transfer from the Buy transaction.

I look forward to your reply!