What are the ramifications of unlinking transfer transactions?
QWin US Subs. I have few rare occasions where I do not want to link the transfer transactions between two banks. Example: Opened an account with Chase bank and within few months decided to close it (only few transactions, no income, interest or fees) and the amounts of those few expense transactions are too insignificant to matter. As such I prefer to just delete that account in Quicken to keep Quicken less cluttered (I know it is recommended to not delete an account).
So, let's say I did a transfer of $1000 from BofA to Chase bank - initiated from BofA's website. Online downloads are enabled for both banks. After an OSU to Quicken, this is how the transfer is matched and linked at first:BofA’s register Category Amount
Xfer BofA to Chase [Chase] -$1000Chase’s register Category Amount
Xfer BofA to Chase [BofA] +$1000
However, for the reason stated earlier I prefer to unlink them and edit and "record the transfer back into the same account" (pretend a cash deposit/withdraw) as following:BofA’s register Category Amount
Xfer BofA to Chase [BofA] -$1000Chase's register Category Amount
Xfer BofA to Chase [Chase] +$1000
[Of course when I close the account, I transfer the funds back and record it the same way]
Questions: What is the harm in this method; do you foresee an issue in reports etc.; what is the recommended method to accomplish this? TIA
- Q Win Deluxe user since 2010, US Subs R32.12
- I don't use Sync, Cloud, Mobile & Web, Bill Pay/Mgr
- Techie, Win10 Pro x64 21H1
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