How to memorize splits in a transaction

wthompson

Classic Deluxe R60.15 27.160.15 Windows

Have created splits (category, tag, memo) in a credit card payment transaction. Would like to be able to memorize this and apply it to all of these credit card payments in past and future transactions. I do not want the amounts to applied. I have memorized the payee and it shows a "Type" of Spl. Is there a way to do this?

volvogirl

It doesn't show the split lines? You can't apply it to past transactions. Only going forward. BUT Just in case you are entering your credit card bills the wrong way…..
The proper way is to set up a credit card ACCOUNT and enter the charges into it when the purchase is made and assigning it to a category. Then when you pay the credit card bill you TRANSFER the payment from your checking account to the credit card account (not a category). Then if or when you download the payment from the bank you match it to the one you already entered.

When you enter the payment in your checking account you put the credit card account name in for the category using square brackets around the name to indicate it is a transfer...like this… [credit card] or newer Mac versions have a separate Transfer column.

I used to do it the wrong way for years! Then I wised up and now enter them properly. I would split my credit card payment into all the categories on one transaction in my checking account. And since I always pay more than the bill I would need to figure the difference and put it to another category. But then I needed to have them entered on the date the charges actually happened, especially at year end for taxes. So I finally set up a credit card account. It makes it much easier to enter and balance!

wthompson

I have a credit card "account" setup and I down load to it. It did not occur to me to use instead of my checking account. Thanks. FYI, the charges I wanted to split out on the credit card payment, for the most part, are charges that are automatically or manually charged to my credit card such as insurance payments and utility bills. Question about the transfer (haven't used transfers). Do the brackets,[ ], just indicate where the payment went or is it supposed to actually transfer the amount to the credit card account as a payment? I just noticed that the credit card account register does not show any payments. Not sure why this is. Maybe the payment info is not being downloaded with the credit card charges??

wthompson

OPPS! Fount that I was only displaying CHARGES on the credit card register. Changed it to ANY TYPE and all payments were displayed.

NotACPA

Thanks for "fess'in up"

volvogirl

Yes the square brackets [ ] indicate the account the amount will go to. Like in your checking acct the credit card payment category will be [Visa]. You should not need to split the payment. All the charges (automatic & manual) should only be in the credit card account register. You can set up a memorized scheduled transaction to enter it into the credit card account.

Are you ok now? I get the feeling you don’t fully understand how it works.

wthompson

I have had Quicken for many years, Quicken Home & Business 2011 and something earlier than that. I used it to keep track of expenses relating to the farm and rental property that I had then. Last year I loaded that version on my PC and could not get it to download anything from the banks so I signed up for the subscription. Since then I haven't really used it, but am now trying to. So, to answer your question, yes, there is a lot that I do not know. You mentioned using "memorized scheduled transaction". That is something I do not know about, but will research it. Thanks.