One side of transfer missing

Donlover

If I enter a transfer to an account when matching bank downloads, the bank transaction appears but the transaction does not appear in the account I transferred into. In order to correct, I have to go to the bank transaction after download take out the category do it shoes I categorized then reenter the transfer account. It then shows in both accounts. I will point out that before correcting, the transaction looks correct in the bank transaction. Also, this doesn’t happen with every downloaded transfer. I usually only find it upon reconciliation of an account not the bank.

UKR

If you have issues with transfer transactions not being generated correctly:
For best results I recommend you 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 and matching process. Because a correctly entered transfer transaction already exists in your account registers, the process should just match the downloaded transfer transaction to the existing one in both accounts.

Jim_Harman

A common situation that can cause Quicken to mis-categorize a Transfer is when the money goes out of the source account and does not arrive at the destination until a couple of days later.

If you use one of the methods recommended by @UKR above or review the downloaded transaction and categorize it correctly, you will not have to make the corrections you describe.

If you blindly accept the first half of the transaction when it downloads, Quicken may have no way of knowing that it is a transfer or which account it should go to. I suggest you go to Edit > Preferences > Downloaded transactions and un-check both "Automatically add" boxes if they are checked. This will give you the opportunity to review each transaction before it lands in you register.

Donlover

I don’t always know when a transfer will occur as I do the books but others send payments or use spend on cards. So,this is not very helpful. I put the correct account in manually when during the download review. However, often the transfer will only show in the bank but it looks perfectly correct. I have to then delete the transfer and save so it is then uncatorgized and reinter the transfer account into the transaction. I should be able to manually enter the transfer during the download review and it show up correctly. I am not expecting it to hit both accounts automatically. I should not have to double my work

Jim_Harman

Can you give a specific example of a transaction you must delete and re-enter? I don't understand why you must delete an accepted transaction with a Category and re-enter it as a transfer. Is it because the other side of the transfer has not downloaded yet? There is no reason you can't enter the transfer before the other side has downloaded.

In many cases you can get a transfer to record correctly by using Renaming Rules and Memorized Payees even if you have no knowledge in advance of the timing or amount of the transaction and the receiving end has not yet been downloaded.

For example, when my bank makes an automatic payment to American Express, the downloaded Payee always contains "American Express". A Renaming rule could standardize this to American Express. Then a Memorized Payee of American Express can include the correct transfer account.

Of course if someone else is writing checks to pay these bills, the Payee might download as "Check 1234" so you would have to look in the checkbook to see that is an Amex payment. Or if you have multiple Amex accounts, you would need to know which account got the payment.

Donlover

I do not automatically add any transactions. I review every downloaded transaction. Here is an example. I received a payment for money owed to an accounts receivable account. It downloads from the bank needing to be categorized. I put in the correct transfer account and accept the transaction. It looks normal in the bank account, yet it does not hit the accounts receivable account. It doesn’t go anywhere. When I discover this, I have to go back to the transaction in the bank, completely remove the category, save the transaction again so that it shows uncategorized, then reenter the transfer account and save again. This is only happening with bank deposits and some but not all credit card payments.

Jim_Harman

Thank you for clarifying the issue.

[correcting after re-reading the original post] It sounds like you are saying that assigning a transfer account, i.e. entering an account name in [square brackets], as the Category for a downloaded transaction sometimes results in a broken transfer. The banking side of the transaction looks correct but the other side is missing. I have never seen this, but as mentioned above, in my case transfers are almost always recorded in Quicken before the transaction is downloaded.

Do you get any indication that the payment has been received before the transaction is downloaded from the bank? If so, that would be the time to enter the transaction manually or accept a Reminder if the transaction is expected regularly. If the transaction is already in the register, the download should match to it and everything should work correctly.

Jim_Harman

I experimented setting some downloaded transactions to transfers and I was not able to replicate this problem.

Additional notes on this issue:

1. When editing a downloaded transaction to make it a transfer, are you certain that you are selecting the transfer account in [square brackets] as the Category? If you have a Category that is the same as or similar to the name of the transfer account and you choose that instead, then Quicken will assign that Category to the transaction and not the transfer account.
2. I have noticed some strangeness recently when selecting, editing, and then accepting downloaded transactions. This may be related to what you are seeing with transfers. I have not found a pattern to this, but it may be related to whether I click on the green Save button at the right of the register entry or the Accept button in the downloaded transactions area after making the changes.

When you process these downloaded transactions, could you please note the keystrokes you use and see if there is anything different between the transactions that are recorded correctly and those that are not?

Thanks

madtay111

I have a similar problem. I am not downloading from the bank. I am manually entering a transfer from PayPal to a checking account. Quicken records the bank portion, but not the PayPal side. It always has been correct in the past. But, if I look at the listing of my "Banking" accounts, the balance that shows for PayPal is after the transfer. So, the detail page for PayPal has a higher balance than the summary on the home page. I entered and deleted this twice, and then a third time.

I just went into the checking account, and clicked on "Go to matching transfer" and it magically appeared on my PayPal detail.

I am using Quicken desktop Classic Deluxe.

Don't know if this helps track down the problem somehow.