New loan account & creating a deposit for it

Question

I've been using Quicken for more than 10 years but have now come up against an unknown.  I took out a consolidation loan and created an off-line account for it.  Problem is, the amount was deposited to my checking account.  How do I reconcile this?  I can't just transfer the loan amount to my checking account since that creates a double amount.

Chris_QPW · Accepted Answer

You should change the Opening Balance transaction in the loan account to be a transfer to your checking account.  Note if that had been done first you would then match the downloaded transaction in the checking account to that transfer.