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Incorrect projected balance chart in Bill Reminders

Unknown Member
edited March 2018 in

Bill Reminders sections shows projected balance chart for the scheduled transactions. It seems to work Ok for transactions like utility bills and paycheck -- that is those transactions when money are actually spent or received.

But all goes wrong when transfer transactions are scheduled: transfers are accounted for as spending or income (depending on the direction of transfer with respect to transaction account), while in fact transfers should not change overall balance at all since technically money transferred between own accounts are not spent or received.

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  • Unknown Member
    edited July 2016
    Here is an example: say, today I have $500 on Checking and -$300 on Credit Card. My today's balance is $200. Now, to pay my credit card balance I schedule a transfer of $300 from Cheking to Credit Card for tomorrow. My actual balance for tomorrow will be the same $200. However, Quicken shows tomorrow's balance as -$100 ($200 today minus $300), which is clearly wrong. It effectively counts money spent on credit card account twice.
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