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From: Alan on 11 Jan 2010 08:41
On Jan 11, 2:30 am, Alan <a...(a)alanisherwood.id.au> wrote:
> Hey,
>
> This is the first time I've really used Quicken, so please excuse any
> obvious mistakes I may have made.  I must admit, I have not done a lot
> of Googleing to find a solution to this problem as I'm having trouble
> coming up with a search term that returns the answers I need.
>
> Anyway, so I'm having trouble with dealing with TXFR between accounts
> in Quicken Personal 2010.
>
> As an example, I have Quicken setup something like this:
>
> Account A - Held at bank 1 - Transaction Bank Account - Current
> Balance $1,000
> Account B - Held at bank 2 - Savings Bank Account - Current Balance
> $5,000
> Account C - Held at bank 3 - Credit Card - Current amount owing $500
>
> From all three banks, I download my transactions from the bank's
> individual website in .QIF format then import it into Quicken.  That's
> fine and all goes well.
>
> After importing all three .QIF files, Quicken correctly shows the
> balance across all three accounts.
>
> My problem comes up when I attempt to provide more details to each of
> the transactions (eg. adding in category information and so on)
>
> I pay off my credit card each month in full from my transaction bank
> account, as such, Account A has an entry like:
>
> ACCOUNT A
> Date: 01/01/2010
> Num: <blank>
> Payee: Bank 3 Credit Card Department
> Payment: $500
>
> My credit card, similarly has an entry such as:
>
> ACCOUNT C
> Date: 01/01/2010
> Num: <blank>
> Payee: Payment Received - Thankyou
> Payment: $500
>
> These details have been automatically entered by bank 1 and 3
> respectively, as you'd expect.  As of right now, Quicken correctly
> lists the balances for both accounts.
>
> I then attempt to go in and "fix" the entries so that they're more
> accurate so they now show:
>
> ACCOUNT A:
> Date: 01/01/2010
> Num: TXFR
> Xfer Account: [Account C]
> Payment: $500
>
> After modifying the first entry, it doesn't do as I expect and "match"
> the transaction to the entry that already exists, but instead creates
> a duplicate entry and as a result, throwing out Quicken's balance.
> Quicken then has the following recorded:
>
> ACCOUNT A:
> Date: 01/01/2010
> Num: TXFR
> Xfer Account: [Account C]
> Payment: $500
>
> ACCOUNT C:
> Date: 01/01/2010
> Num: TXFR
> Xfer Account: [Account A]
> Payment: $500
>
> ACCOUNT C:
> Date: 01/01/2010
> Num: <blank>
> Payee: Payment - Thankyou
> Payment: $500
>
> To fix this I suppose I could go into account C and delete that final
> transaction, but that seems a little silly (and confusing) -- is there
> a way for Quicken to identify that these two separate transactions
> from two different accounts is actually the one transaction?
>
> It creating an entry like this in Account C would be perfectly
> understandable (and useful) if I were manually entering transactions
> from my printed bank statement as that final transaction wouldn't yet
> exist.  But well, that's not the case here.
>
> I get the same problem when I transfer money from my Transaction
> account to my Savings account.
>
> Thanks in advance :)

Thanks everyone for your replies - John, your link in particular was a
big help.

It appears my mistake was that I simply went "Accept All" on all three
sets of QIF accounts then started to "fix" them up - it appears what I
should have done was accept the first QIF file, "fix" them, import the
second QIF file, "fix" them, and so on, so that it would "match" the
transactions".

I'll be sure to do that from now on.

Thanks again for for your help all, it's appreciated.
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