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

Answer

1 person found this helpful

"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
Was this answer helpful? Yes No
Original
SuperUser

No answers have been posted

More Actions

People come to Quicken Community for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach:

Do you still have a question?

Ask your question to the community. Most questions get a response in about a day.

Post your question to the community
or contact us