Liniking auto paycheck with downloaded deposit trxn

Hello-

I am very new to Quicken-- in fact I am just getting things set up (using

2005 premier home and business). I have established a paycheck that gets scheduled for every two weeks. I also am linked to my bank and download the banking transactions. All of that is working fine EXCEPT: the paychecks are now recorded twice. It makes my bank balance look good but obviously I need to find a way to tell Quicken that the distribution amounts coming from the auto paycheck feature belong with the deposit coming from the bank. I must be missing something really simple here--I have the Quicken 2005 official guide-- but can't find the answer and apparently the author has removed all the additional resources that were supposed to be on her web site. :-(

I have not set up other recurring bills as I can't figure out how to link the recurring bill with its payment that comes from the bank download.

Can someone help me out here?

Thanks

Janet

Reply to
jmwcruiser
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I may have found the answer! (why is it you can search and search and make no progress, but as soon as you post a question to the newsgroup, the answering magically appears? Is it related to the old problem of the TV set that won't work until the repairman shows up? Guess that is showing my age-- that I am old enough to remember when TV repairmen made house calls!)

Anyway, I think my problem is that I had downloaded the bank transactions before creating the scheduled paychecks. By playing around with another transaction (a scheduled) bill, it seems that if the scheduled item is already established, when you download the bank transactions, during the accept the download process, you are asked if this bank transaction belongs to a scheduled transaction -- so that is where the match is made.

Is this correct for paychecks?

Sorry to be a bother--

Janet

Reply to
jmwcruiser

Make sure your scheduled paycheck transaction in QW is entered in the register before you download. Upon downloading, make sure you get the proper match between the bank deposit and the transaction in the register - manual match if necessary on the first instance. Should work fine after you get the first match.

Same applies for other transactions that you have scheduled - make sure they are in the register before you download.

You have the option to let QW automatically enter scheduled transactions in the register ahead of the scheduled date - this is what I do - generally 1 to 3 days ahead.

Reply to
JM

Actually you can download the transactions and when you see that one of the downloaded transactions is also one of your scheduled transactions, then simply go and enter the scheduled transaction before accepting the downloaded transaction. Hope that made sense.

Don

Reply to
Don

Yes, that makes sense-- and it is how I solved the initial problem. But I didn't know that when I did the first download so I have unmatched downloaded and accepted bank transactions. :-(

What is the best way to clean up these loose ends? I have credit card transaction entered with a lengthy split of the charges. It is also showing as a bank charge for the payment of this bill out of my checking account. Should I just re-enter all the distribution data in the bank transaction and delete the downloaded credit card transaction?

Got a better way to straighten out the accounts?

Thanks Janet

Reply to
jmwcruiser

I'm not sure I understand your question. I'll tell you what I do which works well for me and hopefully it will help you. When I make a credit card charge I enter it into quicken. Split or no split it doesn't matter. When I download transactions from the CC company I match it to the transactions I entered. I have a scheduled transaction to pay the CC company each month by a certain date. I get the bill, reconcile the account and then go to scheduled transactions and enter the payment here. It is paid online via quicken through my bank. The category for the payment is the actual cc account. So it goes in checking as a payment and goes in the cc account as a payment. I don't split out the payment. All that was done when I enter transactions (if in fact a split is needed).

Don.

Reply to
Don

Simply delete them.

You could if you want, or you could simply delete the downloaded bank transaction.

Note that when you match a transaction Quicken stores some "extra information" with the transaction called Bank Posting Date. Meantime this may be of some value:

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Reply to
Andrew DeFaria

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