Reconnect biller added it as a new, second version of the account

Question

I have an auto load that, when I added it to Quicken, was not available with online billing, so I created a manual loan account. The new update prompted me to "Reconnect" the account to the new online database, so I did. It added the account as a new loan account, so the history of payments is not included. I now have two instances of the same account, only one has transactions.

I was going to try to Move Transactions, but the new account isn't listed on the pop-up account selection list. Plus, the new account has the present balance, so once I move them, won't it deduct the payments from the current balance?

I was going to try a merging of the payees, but the new account payee doesn't show in the payee list.

What should I do? The account was flagged for Reconnect, so I can't just delete the new account and keep using the old account.

Is there a way to transfer the payments from the manual account to the new account so it has the accurate balance?

UKR · Answer

Just my 2cents' worth …

I would not bother attempting to activate any loan or mortgage accounts for downloading. I would just simply set them up as "offline" (manual) loan accounts with a Scheduled Reminder to record the monthly payment from your checking account. (Not discussing LOC or HELOC accounts here. They should be set up as offline credit card accounts)

At least in Quicken for Windows, an online-connected loan or mortgage account does NOT have a transaction register. All data shown in the account come from whatever information the bank downloads to you ... if this process works at all.

As a result of being connected, the scheduled payment transaction reminder cannot transfer the amount of principal paid into the (non-existent) account register and must use a category, usually something like Mortgage:Principal, instead. The category name seems to vary with the Loan Type you selected when creating the loan account in Quicken.

Effective with Quicken Windows 2018 Subscription and newer

you should be able to deactivate an online-connected loan account and regain full control over your transaction register.  And you should also review the Scheduled Reminder (or Memorized Payee List entry) associated with the monthly loan payments to ensure they now transfer Principal to the loan account register and not to a Category.

If you're a Q Mac user, you should be able to do something similar about setting up and maintaining an offline mortgage account together with a correctly calculated Scheduled Transaction Reminder for the monthly payments from your checking account.

To answer your question:

Keep using the old auto loan account register as an offline account, as suggested above. Delete the new duplicate account.

Kabboroo · Answer

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