How to correctly do Matching Transfers

DaveKStL
DaveKStL Member ✭✭
in Registers & Transactions (Windows)
I have a transfer I create in one account, and I split the amount so I know why I transferred it in the memo fields. I then save it and it looks correct.
The transfer comes in from the bank into the incoming account. The sending account is correct, but the receiving account did not split it and I cannot find a way to edit the incoming to show the split
What am I doing wrong?

Answers

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Apparently you are creating a manual entry for the transfer in the sending Account.  It sounds like when you create the entry you split the amount into two parts, both parts going to the receiving Account, the two amounts only distinguished be what you've entered in the Memo field.
    If that's correct, then the way Quicken works is it combines the two amounts into one entry into the receiving Account, with only the "top line" memo indicated.
    You're not doing anything wrong, it's just the way Quicken is programmed.  You need to make that 1 transfer into 2 transfers if you want to see things that way in the receiving Account.
  • DaveKStL
    DaveKStL Member ✭✭
    If I understand your correctly, I need to create 2 separate transfers from the bank to get this to work. Correct?
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    edited June 2021
    Yes, that's correct.  But if you're trying to "save money" in the receiving Account for different items, then using Savings Goals might be the better approach. 
  • DaveKStL
    DaveKStL Member ✭✭
    Tom, thanks.
    As an explanation for others. The scenario is I transferred money from Savings into Checking to pay bills. I need to document to myself why I did this.
    I found as a workaround that the Transfer from Savings entry (do not split it) and the Checking entry (can be spilt) there by showing why I did this in the first place.
    Thanks.

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