Download of Bank Transactions

Using Quicken Premier 2006 My bank recently provided download transactions. When I receive the downloads and attempt to accept them, a pop-up indicates that there is a matching transaction. The choices that are available are (1) to accept the matching transaction and there will be two transactions posted to the register. Alternatively, (2) cancel the acceptance and correct the register entry. Inconsistencies: Original entry when I created the check payment has the date the check was written and the real payee. The date of the download is the day it was posted to the bank account by the payee and in the payee field shows "Check # Ref #."

So, why would I want either two entries for the same check or why would I want to change the legitimate register entry? It would seem to me that the option would be to ignore the download transition (in this instance).

Or, possibly, am I misunderstanding this process?

Reply to
PatJennings
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After attempting to work my way through this conundrum, I began to accept the transaction. Upon further scrutiny, the pop-up indicates that there are "two DIFFERENT AMOUNTS for this check number". In the pop-up is indicated that the amount in the register is 63.60 and for the download transaction the amount indicated is 63.60.

As that guy in the ad riding around on his lawnmower pleads: "Please help me!"

Reply to
PatJennings

Pat:

I'm pretty sure that Q2006 has the Edit-Match Manually option.

Downside to using that is you will probably be presented with ALL your previous transactions since your FI only just started offering downloads.

Depending on how anal you are, you COULD go back through ALL your previous transactions using CTRL-Copy Transaction and assign a posting date to your other entries, that way they won't be presented as options.

Bob

As that guy in the ad riding around on his lawnmower pleads: "Please help me!"

Reply to
Bob Wang

I don't know why Quicken is telling you the amounts don't match if they really do.

But your preference should be to accept downloaded transactions. Given the choices you gave yourself in your first post, I suggest that you have virtually nothing to lose by accepting the downloaded transaction (as a "match" to your existing register transaction), then noting what happens ... since you can always modify, or even re-enter, the resulting register transaction if you don't like the results.

If all is well, only three things will change about your existing register transaction: it will be marked "Cleared" ("Clr" will be changed to "c"); the "Downloaded" attribute will be set; and the "Posting date" will be recorded. (The latter two fields are not normally visible; to see them, right-click the register transaction, hold down CTRL and left-click "Copy Transaction"). If that's what happens, you're good to go.

Reply to
John Pollard

Between the time of my last message and your response, I accepted the transactions - which I then had to modify, restoring the original dates that I wrote the checks and restoring the payees. This is significant in that by keeping the downloaded transaction as downloaded, my yearly history is out of kilter: December payments clearing in January, and complete and utter loss of the original payee. For example replacing "12/13/2006" and "US Treasury" with "!/31/2007" and "check # 6287 Ref # 020100263" in the payee field serves no meaningful purpose. Compound that by having to search the returned checks for the accurate information and reenter it is folly. Then, items beyond (in time) that have been downloaded and for which I have not performed a statement reconciliation are appearing in the register as "R". How is that happening? To clarify, I am reconciling February's bank statement. Items in March are marked "R". I have not as of yet reconciled March's statement.

What am I do>> After attempting to work my way through this conundrum, I

Reply to
PatJennings

In over six years of using Quicken, doing zillions of downloads (many for testing) to Quicken versions Q2000, Q2001, Q2002, Q2004, Q2005, Q2006 and Q2007; I have *never* Accepted a downloaded transaction, with a "Match" status, that altered the transaction date of the existing register transaction it matched. If that happened to you, I have no explanation, and no suggestion (except possibly a corrupted install, or a corrupted data fileset).

I don't know what this means; but my suggestion was only to accept one transaction and see what happened. You could have noted the values in the existing transaction before you clicked Accept, and not experienced any "folly".

Well, now it sounds like you have elected to reconcile to the "online balance", and possibly do an "automatic reconcile". I would personally never do either. And since I never have, I can not tell you much about the results you should expect if you do so.

Reply to
John Pollard

You accepted all the downloaded transactions as new entries??

I've been using Quicken for over a decade.

In all that time accepting a downloaded transaction has NEVER changed an existing entry in my register.

NEVER

If I write a check to "US Treasury" on 12/31, and enter it into my register, it remains unchanged unless and until I modify it. At the time I download transactions from the bank, they either

-- match automatically (sometimes an issue if I, for example, withdraw $20 cash on a day a $20 written check cleared, as Quicken wants to match the $20 amounts)

-- need to be matched manually (if, for example, the reference numbers do not match)

-- need to be edited or deleted.

In any of the above cases, it is the downloaded transactions that are being modified.. NOT the ones already in my register.

Quicken DOES NOT replace payee names, memo fields etc. to existing transactions.

There is an option to auto reconcile after downloading transactions, to the online balance. You have that option turned on.

Check the reconciliation options for the account. If you want STATEMENT reconcile, you must choose to reconcile to your statements each month, and NOT to your online balance.

Reply to
L

Ok. Thanks John and L for your assistance.

After further review, I believe I was in error in my earlier remarks. I'll need to check after another check clears my account. Here's what I think has been happening: It is just recently that my bank has provided download capability. Prior to that I had entered all transactions manually - either through checks I was printing or writing by hand and from ATM activities. I think I may have been confusing the "by hand" and "printed" check activities. So, that will remain a thing to verify with new checks. Now, as to the Automatic Reconciliation: I had not heard of that option being available until this discussion I went into Help and read about it. Then I proceeded to verify the setting on my account. Auto reconcile is not active, and I would have to say, has never been so. Yet, my register shows the R symbol on transactions that I have not reconciled - as of yet. Perhaps I'll be able to discover a logical explanation. I must be overlooking or misunderstanding something. I'll get it sooner or later. Sincerely, Pat

Reply to
PatJennings

How about "Reconcile to" an "Online balance".

Reply to
John Pollard

Reply to
PatJennings

Look for Memorized Transactions for the payees with the register transactions marked reconciled that you have not reconciled. See if the memorized transaction has an "R" in the "Clr" field.

Reply to
John Pollard

Look for Memorized Transactions for the payees with the register transactions marked reconciled that you have not reconciled. See if the memorized transaction has an "R" in the "Clr" field.

Reply to
John Pollard

Never mind. I should have tested it before I suggested it.

Reply to
John Pollard

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