Data import and balancing to start Quicken

Question

I have been using QuickBooks for over 20 years.  The cost of QB is prohibited for a personal use.

I'm starting to initiate Quicken and having to balance the credit cards with the checking account.

The issue of updating the credit card which brings in the total history of 3 years and checkbook only brings 3 months.

I have tried to erase the credit card but they reappear when the link is established.

I'm sure I'm missing something

Chris_QPW · Answer

I will just add that I'm not sure why it matters that the different accounts have different time frames since they each reconcile separately.

And also, you seem to be going about this in a different way than most and that is why @NotACPA answered what he did (using the typical use case).

Typically, people are trying to get more transactions in the checking account so that they have at least to the start of the year.  That would be done by either a QFX import if supported by the financial institution or a QIF file import (there are converts for format types like CSV to QIF).

It sounds like that you want to just trim the credit card history, and have it stick (which it should after the first time).

Chris_QPW · Answer

I have tried to erase the credit card but they reappear when the link is established.

This will only happen on the very first download after connecting the account.

You should be able to delete the transactions and the next time you download you should only get new transactions.

Quicken does this by saving the Id of every transaction it has downloaded into that account, even if you delete the transaction (This Id is the "Downloaded ID column).

Once you get that done, I'm sure that you can take care of the rest, but I will mention that if you need a "balance adjustment" there are few ways to do that.  The Opening Balance is basically a balance adjustment, it can be changed as needed.  Any transaction that has the category of [The Account Name you are in] is a balance adjustment.

jmmorand · Answer

Thank-you for your reply.  In more detail, the credit card is the one that is bringing the last 3 years.  So in order to balance the current month, then I have to go back three years. I there some I have mark to disregard credit card data old than 3 months? I'm ok to start my data balancing in June.

Thank-you.