Linking Withdrawals and Deposits

Apr 11, 2007 3 Replies
K

Hi; I am somewhat new to financial software. I am trying to link accounts and avoid duplicate entries. Every month I have an automatic 200 dollars deducted from my checking account and deposited into my IRA. If I change the category at the bottom of the entry in my checking register to "IRA" It will then duplicate this entry into my IRA Register. The problem is there is already a downloaded entry of the same transaction. So I end up with two deposits instead of one. How do I link the events so that quicken knows the one withdrawal matches with the one deposit?



Thanks Pat



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L

The 'link' happens when you accept the downloaded transactions from the financial institution where you have your IRA.

If your checking account withdrawal has the IRA account as the category, then the corresponding transfer should be in the IRA register before you download. When you download the IRA transactions, be sure to 'match' the downloaded transfer to the transaction already in the register. Quicken SHOULD do that for you, but sometimes, if there is a check number of other info that shows up differently in the download, it shows as a 'new' transaction that you may have to 'match manually'.

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J

A small correction, which I personally find useful.

The Quicken transaction can be placed in the register anytime before you "Accept" the downloaded transaction. It does not have to happen before you download, just before you "Accept"..

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