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Split transfer reminder into multiple transactions?

I have 13 Savings Goals setup that I need to save towards each month.  

In Quicken, I have a separate transfer reminder setup for each of these, so that I can keep track of the amounts for each.  

I do the transfer from my regular checking to my savings account, and then I contribute that portion to the corresponding savings goal.  

What this means is that every month I have to do 13 separate transfers from my checking to savings.  It would be a lot easier if I just did one large transfer from my checking to my savings, and then split that up into the separate Savings Goals accordingly.

When I do that, though, it's more difficult for me to keep track of all the individual amounts that should to each separate Savings Goal.

Is there any way to setup a single transfer that would show me all the different amounts I should apply to each Savings Goal?

Another thing I was thinking is that I could do a single Transfer Reminder for the total amount of all Savings Goals, and then setup separate "savings goal" reminders that would come out of the savings account.  I don't see a way to create such a "savings goal" reminder.  Only income/bill/transfer.

I was thinking that I could simply setup Transfer Reminders from the savings account into the Savings Goal, and then go ahead and do the actual transfer transaction in Quicken instead of going through Planning -> Savings Goals -> Contribute.  However, when I do that, it causes this, which is an even bigger problem.

Anybody else struggle with this?  Any information on this would be greatly appreciated.  Thanks!

Comments

  • UnknownUnknown Member
    edited November 2018
    Setup a bill reminder coming out of your checking account for the total amount.
    For the category select Split, and then the split symbol to get into split dialog and then enter it like this:


    This will result in only one deposit in the savings account for the total amount, but you can look at the split transaction in the checking account to see the individual amounts.

    Do the same for the savings to savings goals of course using the different savings goals account instead of just one account like above.

    So you should have reduced this to two reminders.
  • UnknownUnknown Member
    edited December 2018
    P.S. Just in case I wasn't clear, the contribution for a savings goal is nothing more than a transfer from the "source account" to the savings goal account.  You don't have to do it in the Savings Goal view for it to work.
  • Andrew AngellAndrew Angell Member ✭✭
    edited November 2018
    QPW said:

    P.S. Just in case I wasn't clear, the contribution for a savings goal is nothing more than a transfer from the "source account" to the savings goal account.  You don't have to do it in the Savings Goal view for it to work.

    Thanks, but I've tried it that way and it resulted in this, which was even worse to deal with.

    You've never had that issue?
  • Andrew AngellAndrew Angell Member ✭✭
    edited November 2018
    QPW said:

    P.S. Just in case I wasn't clear, the contribution for a savings goal is nothing more than a transfer from the "source account" to the savings goal account.  You don't have to do it in the Savings Goal view for it to work.

    I guess using a Bill Reminder instead of a Transfer Reminder does help.  At least I can setup a single transfer from checking to savings.

    However, I worry about simply using transfers into and out of the Savings Goal accounts because of what happened to me last time I was doing that.
  • UnknownUnknown Member
    edited November 2018
    QPW said:

    P.S. Just in case I wasn't clear, the contribution for a savings goal is nothing more than a transfer from the "source account" to the savings goal account.  You don't have to do it in the Savings Goal view for it to work.

    I suspect the problem arises when the savings goals are deleted.
    Quicken doesn't know how to properly clean up the transfers because they are in a split transaction.

    I don't use savings goals, I have tested them, but I don't use them so there can certainly be problems like this I miss.

    In the past I have created savings goals and funded them with a transfer, and then deleted them later and it all worked.  But that wasn't with a split transaction and it was quite a while ago.

    Well I just tried it in the latest version of Quicken (subscription R15.18) and it won't even allow the reminder to be entered if it is a split with multiple transfers to savings goals.

    So I tried it in just a regular manual entry transaction and it gave me this:
    image

    So it seems they have "fixed" your problem.

    So yeah, my idea for that part of it is out.
  • mshigginsmshiggins SuperUser ✭✭✭✭✭
    edited November 2018
    QPW said:

    P.S. Just in case I wasn't clear, the contribution for a savings goal is nothing more than a transfer from the "source account" to the savings goal account.  You don't have to do it in the Savings Goal view for it to work.

    Create a Memorized Payee for each transfer, then use Scheduled Transaction Group to create a reminder that groups all the memorized payees. As this will enter each transaction as its own transaction and not as lines in a split, I don't think you will run into the split to savings goal issue.
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • UnknownUnknown Member
    edited November 2018
    QPW said:

    P.S. Just in case I wasn't clear, the contribution for a savings goal is nothing more than a transfer from the "source account" to the savings goal account.  You don't have to do it in the Savings Goal view for it to work.

    Great idea! 
    I normally only thought of using that for investment reminders.
  • Andrew AngellAndrew Angell Member ✭✭
    edited November 2018
    QPW said:

    P.S. Just in case I wasn't clear, the contribution for a savings goal is nothing more than a transfer from the "source account" to the savings goal account.  You don't have to do it in the Savings Goal view for it to work.

    I guess I'm not familiar with "Memorized Payee" or "Scheduled Transaction Group".  Can you elaborate on that please?

    Also, are you saying I should go ahead and do transfers into the Savings Goals?  I'm super scared to do that because it was not fund to fix that mess that (I think) it caused when I was doing that sort of thing before.

    I used to just manually enter transfers in and out of the savings goals to save myself some time, but then when I realized my savings goals and account balances were all screwed up, that's the only thing I can think that would have caused it.
  • Andrew AngellAndrew Angell Member ✭✭
    edited November 2018
    QPW said:

    P.S. Just in case I wasn't clear, the contribution for a savings goal is nothing more than a transfer from the "source account" to the savings goal account.  You don't have to do it in the Savings Goal view for it to work.

    I do like the Bill Reminder with splits (as oppose to multiple transfer reminders, even grouped) because then I do that one transfer between the actual banks and my Quicken will match up with that. 

    That alone is a big help over what I was doing (13 separate transfers from checking to the same savings, just so it would match up with my Quicken register.)

    I did find the Scheduled Transaction Group option, and I guess what you're saying at this point is that I could go ahead and create transfers into the savings goals, and then group them with a single reminder.  

    That would be great...but I'm scared.  @mshiggins, did you see the link I referenced above about why I'm scared to do that?  Do you have any feedback on how else that could have been caused to ease my concerns about trying it again?
  • volvogirlvolvogirl SuperUser ✭✭✭✭
    edited November 2018
    QPW said:

    P.S. Just in case I wasn't clear, the contribution for a savings goal is nothing more than a transfer from the "source account" to the savings goal account.  You don't have to do it in the Savings Goal view for it to work.

    Make a backup before trying anything so you can restore if you don’t like the results or it goes wrong.
  • Andrew AngellAndrew Angell Member ✭✭
    edited November 2018
    QPW said:

    P.S. Just in case I wasn't clear, the contribution for a savings goal is nothing more than a transfer from the "source account" to the savings goal account.  You don't have to do it in the Savings Goal view for it to work.

    Well, that's the thing.  When I first started playing with that originally I checked to see if it caused any problem.  It does not seem to.  It wasn't until a long time later that I realized it was happening.

    Again, I'm not even entirely sure that's what caused it, but I haven't been able to get any info from anybody on what else could have, and since it's all related to savings goals and account balances matching up, it seems like that could indeed be the culprit.  

    I think it was some sort of a combination of doing it with manual transfers, using the Contribute/Withdraw options in the Savings Goal, and adding/removing Savings Goals.

    I guess I'll just have to give it another shot and keep a close eye on it.  Thanks for all the feedback!

    It would be great if a tech could verify whether or not something extra is going on with the Contribute/Withdraw actions vs. a manual transfer transaction in and out of Savings Goals..??
  • UnknownUnknown Member
    edited December 2018
    QPW said:

    P.S. Just in case I wasn't clear, the contribution for a savings goal is nothing more than a transfer from the "source account" to the savings goal account.  You don't have to do it in the Savings Goal view for it to work.

    Ms. Higgins was referring to this:
    image
    >>>>
    image

    You select the transactions from the ones that are already in the register, and Quicken fires them off on the schedule.

    Given that the newest version of Quicken blocks transfers to Savings Goals, I think it is pretty obvious what was the original problem, and doing it in separate transactions fired off by by a schedule transaction group will avoid the problem.

    If you think about a set of transfers in a split transaction, if you were removing a Savings Goal it has to be smart enough to remove just that one split line, and adjust the total amount.  And when the last one is gone remove the whole transaction.

    They never planned on that, so instead of putting in that "smarts" they just blocked it.

    If you take a Savings Goal and use the contribute function you will see that it in fact puts in a transfer.  So that isn't any different than you putting in one manually.
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