New user, matching credit card payments after initial download

Woodrow

I'm in the process of initial setup with QM. I looked through a lot of questions but couldn't find anything that addressed my question.

After adding and downloading checking and credit card accounts, I am going thru and matching the credit card payment transactions in the checking account so that the category is "Transfer:[credit card]" and then Quicken changes the matching credit card account transaction so that the category is "Transfer:[checking]". I thought that this was good, but now thinking maybe not.

Initial download of checking account - defaulted to 18 months of past transactions.

Most of the credit cards downloaded 90 days of past transactions.

Several (Citi, Target) downloaded 24 months for credit cards.

Q1 What should I do (or not) with the extra payment transactions in checking for those cards where there are only 90 days of history?

Q2 What should I do (or not) with the extra payment transactions in the credit card account for those cards with 24 months of history?

Right now, both cases have the category as "Credit Card Payment" in checking which is ok, I guess, but the credit cards show the payments as "Personal Income".

thanks

Jon

In both cases I would categorize the unmatchable transactions as "Transfer:Credit Card Payment". Transactions with that category will not be counted as either Income or Expense.

Changing the credit card payments that you could match up between the checking & credit card accounts to be Transfer transactions between the two accounts was the right thing to do, and you will want to keep doing that in the future.

Jon

In both cases I would categorize the unmatchable transactions as "Transfer:Credit Card Payment". Transactions with that category will not be counted as either Income or Expense.

Changing the credit card payments that you could match up between the checking & credit card accounts to be Transfer transactions between the two accounts was the right thing to do, and you will want to keep doing that in the future.

Woodrow

Jon, thank you. Good to know that category doesn't mess up the reporting and verifying my initial thoughts to make those a transfer transaction.