I'm still on Quicken 2005.
I know of no good way to record a deposit of multiple checks. The split entry doesn't have enough fields to indicate both payee and memo information. But there is no way to match with the download of the deposit except by splits. I even tried making multiple entries and then doing a manual match, but it converted all the entries to a single one with split catagory and put the payee's into the memo field.
Is the situation improved in newer versions?
Marc - Can you explain what you're trying to do here? How many checks are you talking about depositing? How many categories are in total in a hypothetical example.
For example, support I have 2 checks to deposit, and for the sake of argument I have 3 categories on one that I want to deposit and 2 on the other. My credit union would download to me a single deposit for the sum of all 5 of these split items; I've already entered this deposit in my register using a single deposit transaction with 5 split categories and Quicken easily matches the deposit.
Are you depositing a huge number of either individual checks or a humongous set of categories in the deposit you need to keep track of?
I must be missing something.
Setup a new "intermediate" checking account; call it something like "Undeposited Checks".
When you receive a check, "deposit" it in "Undeposted Checks" with the correct payee name, category, and memo.
When you make your actual real-world deposit, transfer the amount of the deposit from the intermediate "Undeposited Checks" account to your regular checking account.
When your actual deposit clears and you get the downloaded deposit transaction, there will be but one transaction in your Quicken account to match ... while all your checks received will have correct values in the payee name, category, and memo fields.
No. But probably because the above method is available to overcome the problem.
Do a search of this forum on "deposit multiple checks" - you will find numerous threads addressing this issue. You will find that most users handle this by creating/using an intermediate account in order to maintain the payee and memo details as you desire.
One serious drawback to this approach is that (assuming the two checks were from two different payees), you will lose the ability to group those checks by payee in reports, and the ability to lookup those checks by payee, because a single Quicken transaction can only have one payee. The more checks you include in a single Quicken transaction, the more payee names you lose (in the payee name field).
"John Pollard" wrote in news:yKh%i.202893$Fc.94547 @attbi_s21:
This is what I do and it isn't perfect, but it's good enough IMHO.
scott s. .
True enough John but I was just trying to find out what Marc meant, giving him a typical example of what does work. But certainly the approach you give provides greater reporting/tracking ability. Since I don't do what you suggested (unfortunately (?) for me, most of my 'incoming' money consists of just one payee's payroll check), I don't have this need.
But given my anal-alosity, I certainly agree with what you suggest and I note some other posts past these (including one from you) gives some good procedures to use via an intermediate account usage.
"Andrew" wrote in news:ejq%i.494$ snipped-for-privacy@newsfe09.lga:
FWIW when I was trying to be a better Quicken user, I went to the library and went through some bookkeeping 101 books. IIRC that is where I got the suggestion to use an "undeposited receipts" asset account. In my case as a cash basis taxpayer, tracking the date of the check is necessary to ensure it is posted to the correct tax accounting period. Entering the check as an income transaction in the undeposited receipt acct does this for me when I run my income statement report.
scott s. .
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