Getting credit card transactions into checking register so I can get reports of all types of expense

doug7890golf · January 2023

When I download credit card transactions they go into a separate register and therefore I can't create a report that includes ALL transactions - cash, debit, check and credit card. The transactions are often categorized by my bank but these don't match my quicken categories. I have been therefore painstakingly splitting each credit card statement so I can get accurate reports. I've talked to people who tell me it is possible but they can't explain how. Please help.

volvogirl · January 2023

Are you doing it this way? You should not be splitting the credit card statement in your checking account. The proper way is to set up a credit card ACCOUNT and enter the charges into it when the purchase is made and assigning it to a category. Then when you pay the credit card bill you TRANSFER the payment from your checking account to the credit card account (not a category). Then if or when you download the payment from the bank you match it to the one you already entered.

When you enter the payment in your checking account you put the credit card account name in for the category using square brackets around the name to indicate it is a transfer...like this… [credit card] or newer Mac versions have a separate Transfer column.

For reports, all you need to do is customize the report and include the credit card account.

splasher · January 2023

You can create reports that include more than one account, click on the Customize icon (gear) on the report screen to decide which accounts should be included in the report.

jchirumbolo · February 2023

Good information, volvogirl. Several points to clarify, however. If I have multiple credit cards, I should have multiple separate credit card accounts, correct? I understand the concept of paying the cards from my checking account via a transfer back to the respective credit card account. But what do you mean when you say, "Then if or when you download the payment from the bank you match it to the one you already entered." How do you match it? Once I download new transactions from the bank, won't I have two payments in my Quicken credit card account? When I run a report at the end of the month detailing all of my card-related expenses I don't want to see two payments.

Also, how do I handle things like Electric, Cell and Cable bills, etc.? Do I set up a separate account in Quicken for each of them, too, and then when I pay them from checking transfer the payment back to the separate account? In this way when I run my true expense reporting for the month my consolidated reporting should contain only the accounts that include the actual expenses, not the checking account that contains the payments. For detailed reporting in this scenario, I shouldn't include the checking account, right?

Thanks.

volvogirl · February 2023

I don't download transactions so someone else will have to say how it matches up with your entries. If you get a duplicate entry then you have to delete one.

The other bills are just expenses. You don't need accounts set up for them. You just pay the bill and put it to the expense category like Utilities. In your report you include all the accounts you want and categories. The expenses can come from any accounts. Yes include the checking account. After you run a few reports you'll get the idea. You can customize most reports. You can exclude or include transfers to other accounts.

splasher · February 2023

Quicken does the matching based on amount and date. The transaction will either be marked as "New" or 'Match" when it is in the Downloaded Transactions tab awaiting review and acceptance. If the New/Match isn't correct, you can click on the Edit button and change it.

doug7890golf · February 2023

I don't want to have to enter each CC transaction into Quicken as I charge it. That just makes my once-a-month splitting job into a daily headache. Isn't there a way to recatogorize the downloaded transactions when I pay the bill and then either move them from the CC register or have my category report include the transactions from another register?

volvogirl · February 2023

You can download the credit card transactions into the credit card account. But whatever you do, forget about splitting out the payment in your checking account. Just download or enter the charges directly in the credit card acct.

Getting credit card transactions into checking register so I can get reports of all types of expense

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