Problems with Linked Transfers
This discussion was created from comments split from:
Comments
-
Natlie - I have a problem related to transfers. I love that you guys link the to/from accounts. This is far better than Mint. I can tell some database engineers built the entity model of this app (bravo). Here is my problem. I noticed that some transfers are miscategoriezed. For example, I have an automatic withdrawal from my banking account into my 529 accounts. The transactions register to my bank account before they are available to "link" in my 529 accounts. I'm trying to understand how the system deals with this latency between the "left hand" and the "right hand" to link these up later? Or, does it really not do any of that later linking and if they are initially miscategorized, then they'll stay that way until I fix them? …. Also, if they are miscategorized (suppose as "Mortgage & Rent"), and they are not yet showing up in the "right hand" (529) account, then what is the best way to somehow set them to properly link in the future when the data rolls into the 529 account (allowing the linkage to occur)… Is that making sense?
0 -
@Travis H, thanks for posting your inquiry to the Community!
Since Quicken Simplifi is designed to learn over time, I'd definitely suggest some manual intervention to try to teach the program. You can unlink Linked Transfers by changing the Category to a non-Transfer Category. You can then link to the correct transaction on the other side by changing the Category to the correct Transfer Category.
Please let us know how things work out for you!
-Coach Natalie
-Coach Natalie
0 -
I don't think this solves my situation (which I presume others must have)…
> "You can then link to the correct transaction on the other side"
My main point/problem is that 'the other side' doesn't yet exist. For example, if I make a credit card payment, then the bank I send from sees the transaction (shows up in Simplifi) before the credit card company has a corresponding transaction to link it to on 'the other side'. After a few days pass, the credit card company on 'the other side' will finally see the transaction and register to simplify as well.
My goal would be to have the transaction properly categorize once the credit card payment finally gets registered on 'the other side'.
Question: What should I categorize the transaction as from the bank while the payment is not yet registered on the other side?0 -
@Travis H, this happens to me as well because my checking account downloads pending transactions so the payment to my credit card shows up right away, but the money coming into the credit card account doesn't show up for a few days. I use the Category of "Credit Card Payment" for the one transaction in the meantime, and then Quicken Simplifi always seems to automatically link them when the second transaction downloads.
Let us know how this works for you!
-Coach Natalie
-Coach Natalie
0 -
That seems to be true for me also. So it sounds like, regardless of your rules and/or manual categorization of the initial transaction, Simply should automatically re-assign the correct category based on the other account having an identical amount show up hours (or days) later.
1
