Automatically Reconcile Transactions

curtrapp

When a transaction is reconciled in one account, the entry in the associated account should also be changed to reconciled. For example, a credit card payment reconciled in the banking account would also be reconciled in the credit card account. This would save having to update multiple accounts to reconcile transactions.

Rocket J Squirrel

Bad idea. Each account should be reconciled to its own monthly statement.

UserDavidC

Quicken would need to add additional coding to the other account to take that reconciled transaction into account otherwise the reconciliation process will not work correctly as the previous balance will be off.

I agree with @Rocket J Squirrel , this is a bad idea.

Chris_QPW

Just to clarify what the others are saying. Just because a transfer transaction is reconciled in one account doesn't imply it is in another.

Here is a direct example of that. You setup to pay your credit card automatically on the credit card account, this is of course a transfer.

What you will most likely see is that it will hit the credit card account first, then there will be a delay before the payment is actually recorded in the checking account (depending on the financial institution this might be reversed). In my case, with a Chase checking account, and Chase credit cards and even with one Citi credit card this what happens and there is a one to two days delay before the payment is cleared/downloaded into the checking account.

So, if Quicken marked that transfer as reconciled it would be totally wrong. The transaction hasn't been downloaded, and the one that is in there needs to be matched to the downloaded one.

Jim_Harman

Or if the transfer is lost or credited to the wrong account at the receiving end, the sending end would download but the receiving end would not.

I wouldn't want the receiving end to be marked as Reconciled in Quicken.