Transfers are showing as deposits

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KathyNWT
KathyNWT Member ✭
edited February 2022 in Registers & Transactions (Windows)
I've been trying to do this on my own for a few hours - so guidance would be appreciated. I use my work credit card for purchases and transfer money from my work checking to pay the card. These transfers are showing as deposits in my transactions and erroneously increased my income for the year. On the tranactions, I clicked on category and chose 'transfer'. That didn't work. It also looks like I can't fix this all at once if the transactions are already downloaded. Assuming I figure out what is going on is there a way to fix them all? I need to fix before handing this off to my accountant.
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  • Sherlock
    Sherlock Member ✭✭✭✭
    Answer ✓
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    Transfer entries should have a category that is the other account's register name within square brackets.  For example: in work checking account register, the transfer entry to the work credit card should have a category of [work credit card].

    To edit multiple transactions in a non-investment account register, select the transactions, right-click and select Edit transaction(s).
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
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    To add to what @Sherlock said, when you change a transaction from the category "transfer" to the proper [Other Account] you have to be aware of the fact that it is going to create a linked transaction in "Other Account".  If you already have another transaction in "Other Account" with "transfer" as the category, then you are now going to have a duplicate transaction that you need to delete (the one put in with a category of "transfer").

    Note for the future it is best to get transfers pre entered into the register before downloading transactions, and match the downloaded transactions to the transfers you have entered.
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Answers

  • Sherlock
    Sherlock Member ✭✭✭✭
    Answer ✓
    Options
    Transfer entries should have a category that is the other account's register name within square brackets.  For example: in work checking account register, the transfer entry to the work credit card should have a category of [work credit card].

    To edit multiple transactions in a non-investment account register, select the transactions, right-click and select Edit transaction(s).
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Answer ✓
    Options
    To add to what @Sherlock said, when you change a transaction from the category "transfer" to the proper [Other Account] you have to be aware of the fact that it is going to create a linked transaction in "Other Account".  If you already have another transaction in "Other Account" with "transfer" as the category, then you are now going to have a duplicate transaction that you need to delete (the one put in with a category of "transfer").

    Note for the future it is best to get transfers pre entered into the register before downloading transactions, and match the downloaded transactions to the transfers you have entered.
    Signature:
    This is my website: http://www.quicknperlwiz.com/
  • KathyNWT
    KathyNWT Member ✭
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    Thank you all! I can see the matched bracketed transactions now, and I do need to do some deleting. I turned on the feature to automatically notice transfers. I couldn't get the right click to work on editing multiple transactions at the same time, but now I don't think I need to.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
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    To select multiple transactions, you click on the first one, then you hold down the shift key and click on the last one.  You can then do the right click to bring up the menu for Edit Transactions.  You can also hold down the Ctrl key and select transactions and that will toggle the selecting of them.
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  • jbmcgaw
    jbmcgaw Member ✭
    edited January 2022
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    Lets just all except the fact that quicken has a major problem with downloading and dealing with transfers. Quicken needs to change their program so when you change one side of a transfer (category) it asks you what you want to do with the other side of the transfer (category). [Removed - Disruptive] It has no problem asking you when deleting a category where you want those transactions to go. Or just have it wipe the category blank in instead of deleting that transaction. I can't believe it would allow you to delete the other side of a transfer even when that transaction is reconciled. Be sure to uncheck transfer detection before downloading too many transactions. You can edit transfers manually while clearing and accepting downloaded transactions. I can't tell you how many transactions I have to fix where quicken categorize 'checks and deposits' as transfers before I caught the incorrect matching.
    Quicken also has a big problem [Removed - Disruptive] when trying to match downloaded transactions 'based solely on amount?'
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