Why are downloaded transfers between my accounts put in wrong categories

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RCoat
RCoat Member ✭
edited March 2023 in Download, Add/Update Accounts (Windows)
When I download transactions, the transfers from my Savings Account to Checking Account are not categorized correctly. It shows funds being transferred back into original account rather than debited from Savings & credited to Checking. I have to manually fix this every time.

Answers

  • splasher
    splasher SuperUser ✭✭✭✭✭
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    Check your Memorized Payees (Tools menu) to see that you don't have some memorized that way.

    -splasher using Q continuously since 1996
    - Subscription Quicken - Win11 and QW2013 - Win11
    -Questions? Check out the Quicken Windows FAQ list

  • UKR
    UKR SuperUser ✭✭✭✭✭
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    In case you have issues with transfer transactions not being generated correctly:

    For best results manually enter transfer transactions into your register BEFORE you download transactions from the bank which contain the transfer confirmations. For recurring transfers use scheduled reminders and enter them a day or two before the due date.  (This also includes Cash Withdrawals if you record them as transfers from Checking to a Cash account register)
    Be sure to use distinct Payee Names for each transfer / credit card payment to avoid confusing Quicken - memorized payee entries.
    That takes the guesswork out of the download process. Because a correctly entered transfer transaction already exists in your account registers, the download process should just match the downloaded transfer transaction to the existing one in both accounts.

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