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duplicate transactions in savings

when I make transfers from my savings to checking or the reverse, I get both transactions in the savings register so both the transfer to checking and from savings are both recorded so that the transaction is doubled in the balance.  Like the below. This is screwing up my balance.  It makes quicken useless for that.

Transaction - YTD

1/1/2012 through 2/24/2012

Date Account Num Description Category Tag Clr Amount

BALANCE 12/31/2011 4,543.05 4,543.05 4,543.05 4,543.05 4,543.05 4,543.05 4,543.05
1/7/2012 REGULAR SAVINGS 1 TXFR Transfer To Acct 8 c -168.00
1/7/2012 REGULAR SAVINGS 1 Transfer From Acct 1 [SHARE DRAFT 8] -168.00
1/10/2012 REGULAR SAVINGS 1 TXFR Transfer To Acct 8 c -250.00
1/10/2012 REGULAR SAVINGS 1 Transfer From Acct 1 [SHARE DRAFT 8] -250.00
1/11/2012 REGULAR SAVINGS 1 TXFR Transfer To Acct 8 c -83.00
1/11/2012 REGULAR SAVINGS 1 Transfer From Acct 1 [SHARE DRAFT 8] -83.00
1/13/2012 REGULAR SAVINGS 1 Transfer From Acct 8 c 1,500.00
1/13/2012 REGULAR SAVINGS 1 Transfer To Acct 1 [SHARE DRAFT 8] 1,500.00
1/14/2012 REGULAR SAVINGS 1 TXFR Transfer To Acct 8 c -200.00
1/14/2012 REGULAR SAVINGS 1 Transfer From Acct 1 [SHARE DRAFT 8] -200.00
1/17/2012 REGULAR SAVINGS 1 TXFR Transfer To Acct 8 c -300.00
1/17/2012 REGULAR SAVINGS 1 Transfer From Acct 1 [SHARE DRAFT 8] -300.00
1/18/2012 REGULAR SAVINGS 1 TXFR Transfer To Acct 8 c -35.29
1/18/2012 REGULAR SAVINGS 1 TXFR Transfer To Acct 8 c -200.00
1/18/2012 REGULAR SAVINGS 1 Transfer From Acct 1 [SHARE DRAFT 8] -200.00
1/18/2012 REGULAR SAVINGS 1 Transfer From Acct 1 [SHARE DRAFT 8] -35.29
  • Is the doubling due to the download or is it happening prior to the download?
    What is the sequence of events that happens?
  • I only download my entries. I don't do any manual entry
"I only download my entries"  --  great info, eliminates several potential causes

It seems like what is happening is that the downloaded transaction to "Regular Saving" is being entered with a non-transfer category (one without the square brackets) making it a regular old transaction and the transaction being downloaded to the "Share Draft 8" account is being treated as a Quicken transfer and it's category is set to the saving account's name in square brackets and is then generating a mating transaction in the saving account with the category of [SHARE DRAFT 8].
It is a matter of sequence and procedure to prevent this from causing a problem.
Here is the sequence I would follow, it is reversible if you want.

1) Download the transactions for both accounts, but do not have Quicken enter them into the register automatically ( set in Preferences - > Downloaded Transactions section)

2) Select the Saving account

3) When you accept the transaction of the transfer, make sure that the category is [SHARE DRAFT 8], you will find it near the bottom of the "all" categories list.  This will generate a mating transaction in Share Draft 8.

4) Finish accepting the savings account transactions

5) Select Share Draft 8

6) When you accept the transaction of the transfer, make sure that it is matched to the system generated transfer transaction.  Doing so, will "merge" the two transactions into a single transaction.

7) Finish accepting the savings account transactions

What I mean by reversible, is you could do this starting with the Share Draft 8 account and finishing with the Savings account.

Write back if this is the cause and solution to your duplicates.

hth
  • Is there a way to add a transfer category for the saving acct?  If I have to do all this, I'll find something that works automatically.  This is a pain in the arse.
  • You will find that ALL the accounts are listed down at the bottom as possible choices as a "transfer".

    The second way to do it would be for neither of the transactions to be considered a transfer so that the mating transaction is not generated, but then, the transfers will be counted in your income and expense reports double counting those funds twice whereas if done as a transfer, they are not included.

    A third choice would be to delete the un-needed d/l'd transaction in the Saving account since the system generated one would require changes (more work for you) in the Draft account and affect the "transfer" status of the transaction pair.

    Since I manually enter any transfers that I make, I just have to enter the Savings account transaction, which system generates the Draft account transaction and then match both of the d/l'd transactions to the existing transactions in each account.  

    I think, once you have done it a couple of times, you will find it to be second nature and not that tough.
  • I am working about through 3 years of data.  Any manual process is just unacceptable. I think I'll open a support ticket.  Double listing the entries showing what account it came from and what acct it when to is redundant. If I'm in my savings account and I transfer money to my checking, I know where the money came from in my savings account and that it went to checking. I don't need an extra entry telling me that I transferred from the acct I transferred it from.

    I'm testing mvelopes and it does it correctly. It just shows transfer to acct 8, no entry for transferred from acct 1 -- I KNOW IT"S GOING FROM ACCT 1 LOL.