Why is Quicken putting transactions from a different institution in the wrong ledger?

701432
701432 Quicken Windows 2017 Member
edited October 2023 in Registers & Transactions (Windows)

I have a credit card that I pay off from two different institutions (Bank A and Bank B). After I ran the One Step Update this morning I noticed an unusual entry, it appeared that both of the payments to that credit card account came out of Bank A, but I had made one from Bank A and one from Bank B (Which I verified). Both of the Transactions are still pending in their accounts, both of them have the same Payee Name in Quicken, and both have the same transfer designation as Catagory. But why did it put the transaction in the wrong ledger during the update?

Answers

  • UKR
    UKR Quicken Windows Subscription SuperUser ✭✭✭✭✭

    Did you manually record these transfer transactions into their respective registers BEFORE downloading payment confirmations from the banks and the credit card?
    Or are you waiting for downloaded transactions to "automagically" populate your registers? In that case, Quicken may not be able to recognize that you want to do something different from what it has memorized.

    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 all accounts.

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