Matching Transactions

Chris Mead

A bit of a conundrum here. I had an investment firm do an IRA automatic distribution to my checking account from two separate investment accounts. Only one EFT occurred from the sum of the two account distributions. It was auto downloaded into my checking account. When the investment account paid the amounts, they split each into two: One payment to me and one withholding to Uncle Sam. For both, I coded the withholding to taxes and the other as a transfer into my checking account. Now I have two manual entries from the ones I created to balance the investment accounts attempting to match up to the singular download from the bank despot (the sum). I can't use the matching feature in Quicken as one can only match one for one. So my fix is to delete the transaction that was downloaded (I hate doing that) and just reconciling the account, which it will do perfectly, with the two manually created transactions.

Corner case?

UKR

Could you have done something like a single transaction in your checking account with 3 or 4 split lines?

• transfer from [IRA #1 account]
• tax withheld from IRA #1 distribution
• transfer from [IRA #2 account]
• tax withheld from IRA #2 distribution

That should cover everything in one checking transaction.

Chris Mead

I developed a "kluge" repair. Rather than, in Quicken, have the two investment accounts transfer separate amounts to the checking account that would not reconcile, I transferred the smaller amount from the smaller account into the investment account with the larger transfer and then adjusted up the amount of the transf into my checking account. Then the one for one match worked perfectly. I did add a note so I would remember how to do it next year.

jacobs

@Chris Mead I like your ludge solution. My only question is: isn't that more work than just entering the two transactions manually and deleting the downloaded transaction? 😉