Quicken - how are [names] used

"ps56k" wrote

I've been going thru my Q2009 and trying to get all the incomes, payments, CC's detailed. Everything looks good except for one area - [names]

How are these bracket entries to be used ? I thought that the [name] was a direct link to the other account, and some type of entry link would be created.

ie - I setup a new Q2009 file for testing - with just a Visa account & Checking account.

My original concern was how the thread of CC charges and payments were matched or linked to the actual checking account payment.

SO - if the checking account Payee is made as [visa] I thought something would show on the "Visa" account - nothing - Also - the actual [name] does not seem to matter.... as I could enter [junker] just as easily...

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Every Quicken account is also a category ... when its name is enclosed in square brackets.

So if you want to transfer funds from your checking account to an account named "My Savings Account", you would put "[My Savings Account]" (no quotes) in the category field of the checking account transaction.

Putting an account name in square brackets anywhere else in Quicken (such as in the payee name) would have no meaning to Quicken.

ok - well that explains the Payee - with nothing happening - So, what should I expect to do for the common CC transaction thread ?

The Visa acct shows all the downloaded transactions & payments however, the "payment" does not have any Category, so what should I enter ?

I actually started with the Bank Summary Report, and noticed all the CC Payment transactions and CC merchandise returns were listed at the top of the report as uncat income.

I went thru and created/added a Category for CC Payment and CC Returns. Then I thought of using the "Transfer" - well, that totally screwed up everything...

Ok - so what Category should we use for the Visa Payment downloaded transaction? and then - what should I do with the actual checking account payment transaction ?

tnx -

"ps56k" wrote in news:jjoe5l$j21$ snipped-for-privacy@dont-email.me:

I look at it from the other end. I pay my CC from my checking account. It is a transfer from checking to CC. Therefore I enter in my checking account register as payee "Amex" (for instance), the amount of dollars I'm paying (virtually always the total outstanding balance from the statement), in the comments "Checked it!", and in the Category [Am, and then Quicken comes up automagically with [AmexCC]. For the date, I enter the payment due date, since I have authorized Amex to take the money from my checking account on the due date (that way I can never be late in paying). You can do the same thing in the reverse way, in the CC account as a transfer from cheking to CC by using the [checking account name] as the category. Makes no difference, unless you use a physical check, then you need the check number entered in the checking register.

I had tried that scheme - and just played with it again on my very simple test file. When you create the transaction in the Checking Acct for say $100, using the [visa] category name (same as Visa acct) you create two entries :

- a $100 payment in the Check Acct

- a $100 payment in the Visa Acct

this is ok UNTIL the actual check payment clears, and you get another $100 payment posted to the Visa Acct.

- DING -

do you manage the "Visa payment" created entry just like with a checking acct entry, and "match" the incoming/downloaded "Thank You payment" with the already existing/entered/created/linked "payment" so there is no duplication - just a single "matching" entry ???

"ps56k" wrote

- DING -

do you manage the "Visa payment" created entry just like with a checking acct entry, and "match" the incoming/downloaded "Thank You payment" with the already existing/entered/created/linked "payment" so there is no duplication - just a single "matching" entry ???

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Yes.

ok.... thanks -

I've gone thru my Mastercard & Visa transactions and corrected them accordingly....

- removed the [visa] from the Payee and changed to "Visa"

- updated the Category to reflect the "transfer from the checking acct"

- deleted all the credit card transactions for "payment received" - which were now dups -

also went thru all the other transfers between my brokerage accts at Schwab, Fidelity, Vanguard and the checking acct at Chase..... along with the shuttling of money into our college son's checking acct.

Now - all the transfers are recorded and linked -