Downloading Transaction Problem

[ARGOS400]

All my accounts (chequing,saving,credit cards) are from the same bank.

Ok here's the question ( or problem ) I use "one Step Update" to update
my account that works find. It downloads all the transaction fine from all
accounts.

Now here's the problem (or not) after I have done "one Step Update".

If I have transfer funds from my chequing to make a payment on my
credit card account "one Step Update" downloads the transfer from chequing
and the payment on the credit card like it's suppose to do, this is all
fine.

But when I choose the category in chequing to "Transferred to Credited
card account" Quicken produces another ( duplicate ) entry in credit card
account , the same as the one downloaded from the bank. So now I have to
delete one of
them.

Is there some way to turn this action by Quicken off or disable it ?

Actually it would be nice if Quicken would ask the question
" Do you want me to update the account you are transferring to ??"



Randal
argos400@look.ca

[John Pollard]

ARGOS400 wrote: All my accounts (chequing,saving,credit cards) are from the same bank. Ok here's the question ( or problem ) I use "one Step Update" to update my account that works find. It downloads all the transaction fine from all accounts. Now here's the problem (or not) after I have done "one Step Update". If I have transfer funds from my chequing to make a payment on my credit card account "one Step Update" downloads the transfer from chequing and the payment on the credit card like it's suppose to do, this is all fine. But when I choose the category in chequing to "Transferred to Credited card account" Quicken produces another ( duplicate ) entry in credit card account , the same as the one downloaded from the bank. So now I have to delete one of them. Is there some way to turn this action by Quicken off or disable it ? Actually it would be nice if Quicken would ask the question " Do you want me to update the account you are transferring to ??"

I think the problem is the way you are thinking about transfers
and about the order in which you are processing transactions
(and possibly a misunderstanding of the "new" and "match" status
for downloaded transactions).

A Quicken "transfer" always creates an equal, offsetting,
transaction in the "to" account; that is the way it is supposed
to work. It' behavor can't be (and shouldn't be) changed. A
transfer transaction that didn't transfer anything would be
pretty useless.

When you process the "first half" (the From Account half) of the
downloaded transfer transaction and enter the [To Account] as
the category, you will thereby create an equal offsetting entry
in the "To Account", as you have noticed.

Then when you begin to process the downloaded transactions in
the To Account, the downloaded "second half" of the transfer
should "match" the entry you just created when you categorized
the From Account transaction. You can, and should, Accept a
"match" transaction in this situation without concern, it will
not create a duplicate entry in the account, it will just update
the Clr (cleared) flag, the "Downloaded Transaction" flag and
the "Posting Date" for the pre-existing entry in the register.

To flesh out the description a bit more; you could have manually
entered the transfer transaction in your register before you
ever downloaded. Then both downloaded transactions that
comprise the transfer should find matching transactions in your
registers (should have a "match" Status) and could be accepted
without creating any additional transactions.


--
John Pollard
First initial underscore Last name at mchsi dot com
Please reply to newsgroup

[ARGOS400]

No you missed the point, when I use update it downloads all the transactions
when I choose the category Transferred to Credited card account" it produces
a SECOND DUPLICATE TRANSACTION as the one downloaded, so I now have to
delete the duplicate transaction that quicken has produce.

I hope that makes sense... ?



"John Pollard" <invalid@invalid.com> wrote in message
news:3770lsF59qj02U2@individual.net... ARGOS400 wrote: All my accounts (chequing,saving,credit cards) are from the same bank. Ok here's the question ( or problem ) I use "one Step Update" to update my account that works find. It downloads all the transaction fine from all accounts. Now here's the problem (or not) after I have done "one Step Update". If I have transfer funds from my chequing to make a payment on my credit card account "one Step Update" downloads the transfer from chequing and the payment on the credit card like it's suppose to do, this is all fine. But when I choose the category in chequing to "Transferred to Credited card account" Quicken produces another ( duplicate ) entry in credit card account , the same as the one downloaded from the bank. So now I have to delete one of them. Is there some way to turn this action by Quicken off or disable it ? Actually it would be nice if Quicken would ask the question " Do you want me to update the account you are transferring to ??" I think the problem is the way you are thinking about transfers and about the order in which you are processing transactions (and possibly a misunderstanding of the "new" and "match" status for downloaded transactions). A Quicken "transfer" always creates an equal, offsetting, transaction in the "to" account; that is the way it is supposed to work. It' behavor can't be (and shouldn't be) changed. A transfer transaction that didn't transfer anything would be pretty useless. When you process the "first half" (the From Account half) of the downloaded transfer transaction and enter the [To Account] as the category, you will thereby create an equal offsetting entry in the "To Account", as you have noticed. Then when you begin to process the downloaded transactions in the To Account, the downloaded "second half" of the transfer should "match" the entry you just created when you categorized the From Account transaction. You can, and should, Accept a "match" transaction in this situation without concern, it will not create a duplicate entry in the account, it will just update the Clr (cleared) flag, the "Downloaded Transaction" flag and the "Posting Date" for the pre-existing entry in the register. To flesh out the description a bit more; you could have manually entered the transfer transaction in your register before you ever downloaded. Then both downloaded transactions that comprise the transfer should find matching transactions in your registers (should have a "match" Status) and could be accepted without creating any additional transactions. -- John Pollard First initial underscore Last name at mchsi dot com Please reply to newsgroup

[JMC]

Read JP's last paragraph more closely - this is the solution to your
problem. I would change "you could have.." to "you should have.."
For example, where you make your credit card acct payment with a
transfer from your checking acct, set this up as a scheduled
transaction to be entered in the registers a day or so before it
actually happens - before you do the download. You will have to edit
the amount to get the correct value. You will then get matches in the
download process and you will not get duplicate entries.

[John Pollard]

ARGOS400 wrote: No you missed the point, when I use update it downloads all the transactions when I choose the category Transferred to Credited card account" it produces a SECOND DUPLICATE TRANSACTION as the one downloaded, so I now have to delete the duplicate transaction that quicken has produce. I hope that makes sense... ?

Not really.

When you enter the name of an account enclosed in square
brackets in the category field of a transaction, and press
Enter, Quicken will automatically create a transaction in the
account you used in the category field ... the "to account".
That transaction was not there until you entered the [To
Account] (or in your case [Credit Card Account]) in the category
field of the From Account (in your case the checking account).
This is exactly how transfers are supposed to work.

Just because you also downloaded a payment transaction for the
credit card account, does not make that a duplicate transaction
(or, if you prefer, it does not make the newly generated
transfer transaction in the credit card account a duplicate of
the downloaded transaction). They are the *same* transaction;
and the downloaded transaction should match the register
transaction so you can accept it and Quicken will not add a new
transaction to the register.

Perhaps taking it step-by-step would help; if there is a point
in the example below where your experience is different, you can
post a response to explain what you see differently.

I am assuming that before you initiate the download there are no
transactions in Quicken for the credit card payment from
checking. I am assuming that your financial institution
downloads one transaction for the checking account for the
amount of the payment and one transaction for the credit-card
account for the amount of the payment. So far, that means that
when the download completes, there are two payment transactions,
but neither of them have been "accepted" into Quicken yet,
neither of them are in any Quicken registers.

Say you process the checking account transactions first. You
accept the credit-card payment transaction; now there is one
credit-card payment transaction in a Quicken register, your
checking account register. Now you modify the Category field of
the credit-card payment transaction in the checking account
register so it contains [Credit Card Account]. Upon completion
of that modification, there are now two credit-card payment
transactions in Quicken; the one in the checking account that
was downloaded, and now the other half of the transfer
transaction (in the credit-card account) that you just created
by entering [Credit Card Account] in the category field of the
checking account transaction.

After you finish processing the rest of the downloaded checking
account transactions, you move to the credit-card account.
There, in the Compare To Register window, you find the
downloaded credit-card payment transaction. In the Status
column in the Compare To Register window, you should see the
word "Match"; and when you select the transaction in the Compare
To Register window, the register transaction it matches should
be highlighted ... and that highlighted transaction should be
the transaction you created when you modified the Checking
Account transaction.

If you now "Accept" the downloaded credit-card transaction, you
will not add any duplicate transaction to the credit-card
account.

--
John Pollard
First initial underscore Last name at mchsi dot com
Please reply to newsgroup

[ARGOS400]

Thank You John !!!

It all makes senses now, the process that I was doing was incorrect.