frustrating "Transfer to/from" problem

Just curious why you need to categorize the payment as a "Transfer"? Isn't it just a payment to your credit card holder, with the Payee being your VISA banking establishment?

I've always been able to run a report using the account in question as the "Payee".

After you have accepted the first of the two downloaded transactions, change that transaction to a "transfer". Then when you process the second downloaded transaction, it will "Match" its half of the transfer that will already be in the Quicken account register.

Thanks very much John - this will work. I'm only just starting to understand a lot of the stuff Quicken is doing and is capable of doing.

Could you also tell me whether there is any way to "un-accept" a downloaded transaction after it has been accepted into the register?

Yesterday I deposited a cheque that was in payment of five (Quicken-created) invoices. I "Received payment" for each of the invoices, and Quicken dutifully created five deposits to my checking account, totalling the amount of the deposited cheque. Of course, today when I downloaded transaction info for my checking account, there was the deposit for the entire amount of the cheque - so I effectively had deposited the cheque twice into Quicken.

Is there a more elegant way to rationalize all this than manually deleting the transaction for the full cheque deposit?

If I had not "accepted" the transaction right away, could I have somehow told Quicken "Hey - see these five deposits up there in the register? Those are the same thing as this big deposit you just downloaded from the bank. Please don't count them twice."

Thanks again for any and all help. It is *really* appreciated.

- Owen.

It sounds like you are using the Home&Business version of Quicken. While I do not use that version, I recall that others that do have suggested creating a "checks received" account to handle individual checks, then when the actual deposit to the checking account is made, it becomes a transfer from the "checks received" account to the checking account ... creating a single deposit in the checking account that can easily be matched to the downloaded deposit transaction.

Owen:

There are a couple of ways to handle your problem:

1) Enter the original deposit of multiple checks as a Split transaction, that way the download will match up with your register.

2) After downloading, choosing Edit instead of Accept, and choose the Match Manually option. Then check the individual deposits. Quicken will consolidate the separate deposits into a single Split transaction.

At least that's the way it works for me in H&B 2006. Hope it also works for you. Good luck,

Bob

And be aware: when you handle deposits this way, you will not be able to keep track of the individual payees whose checks you are depositing as "Quicken payees".

John:

Good point. Your suggestion of a separate Receipts account is the cleanest way to go.

Bob

And be aware: when you handle deposits this way, you will not be able to keep track of the individual payees whose checks you are depositing as "Quicken payees".