Matching a transaction to Multiple

Hi All,

I was wondering if anyone has figured out a solution to this one...

I go the bank and deposit a few checks. At home, I record each of the
checks because their from different sources/categories, etc. Money
downloads a lump sum desposit from the bank and now I try to match to the
different transactions. I match them up, and accept them all and so far so
good. Until I try to update the accounts again, and the lump sum shows up
again. Any idea how to get Money to realize that it downloaded that
transaction already and I accepted it? BTW I'm using Money 2005, but have
had this problem for many versions. Thanks.

-David

Mark
Fri Dec 10 08:08:08 CST 2004

I have this same situation and the way I record it as follows:

Enter a single transaction and set up SPLITS for the category. Each split
would be categorized for one check and put the check payee in the
memo/description field. If your bank works like mine when I hand them 3
checks they break it our on the receipt but it actually show up on my
statement as 1 deposit. I hope that helps.

Mark

"No Name" <not@gonnahappen.com> wrote in message
news:-PWdnT1VrZpCsSTcRVn-gw@giganews.com...
> Hi All,
>
> I was wondering if anyone has figured out a solution to this one...
>
> I go the bank and deposit a few checks. At home, I record each of the
> checks because their from different sources/categories, etc. Money
> downloads a lump sum desposit from the bank and now I try to match to the
> different transactions. I match them up, and accept them all and so far
so
> good. Until I try to update the accounts again, and the lump sum shows up
> again. Any idea how to get Money to realize that it downloaded that
> transaction already and I accepted it? BTW I'm using Money 2005, but have
> had this problem for many versions. Thanks.
>
> -David
>
>

Chris
Sat Dec 11 10:26:39 CST 2004

An alternative is to create a second dummy bank account called 'deposits'.
(I wouldn't bother with this unless I was a small business or something like
that.) Record the individual checks into the deposits account as income,
transfers from accounts receivable, etc. Record the actual bank deposit in
your checking account as a transfer from deposits.

Reconcile the deposits account when you receive record of the deposit. The
balance in the deposits account should always be zero, unless you have some
undeposited checks sitting on your desk.

Using splits is easier. Using the separate deposit account may provide more
information.
--
Chris Cowles,
Gainesville, FL

"Mark Vetrano" <mvetrano@newbreed.com> wrote in message
news:%23n3UuGs3EHA.3416@TK2MSFTNGP09.phx.gbl...
>I have this same situation and the way I record it as follows:
>
> Enter a single transaction and set up SPLITS for the category. Each split
> would be categorized for one check and put the check payee in the
> memo/description field. If your bank works like mine when I hand them 3
> checks they break it our on the receipt but it actually show up on my
> statement as 1 deposit. I hope that helps.

Ron
Sat Dec 11 14:57:30 CST 2004

On Thu, 9 Dec 2004 22:58:06 -0600, "No Name" <not@gonnahappen.com> wrote:

>Hi All,
>
>I was wondering if anyone has figured out a solution to this one...
>
>I go the bank and deposit a few checks. At home, I record each of the
>checks because their from different sources/categories, etc. Money
>downloads a lump sum desposit from the bank and now I try to match to the
>different transactions. I match them up, and accept them all and so far so
>good. Until I try to update the accounts again, and the lump sum shows up
>again. Any idea how to get Money to realize that it downloaded that
>transaction already and I accepted it? BTW I'm using Money 2005, but have
>had this problem for many versions. Thanks.
>
>-David
>

I only download my bank transactions once a week, and then for the preceding
ten days. So I see that issue at most on only one download.

OTOH, if I were downloading bank transactions daily, for the preceding ten
days, I would see the problem on nine downloads.

Perhaps you can alter the look back for your bank downloads?
--ron

R
Thu Jan 13 06:41:04 CST 2005

Neither of the solutions mentioned work for small business purposes... I'm
still stuck with this problem... and I went through the pain of switching
from Quicken just for this one problem... only to find that MS Money has the
same damn problem!

Let me explain:

Split : This solution does not capture the accounting that needs to happen
for a business because Money only sees a category and not which customer.
Can't link it back to the invoice that the payment was for, etc.

Another Account: Money already has an Accounts Receivable account set-up
for my invoice tracking. I go there, and make a payment and tell it that the
payment will be deposited into my checking. I do this for two customers
($100, $50), and then go to the bank and hand them both checks for which they
make a $150 deposit. Automatic reconcile imports a $150 deposit, and the
"Change" button will not let me select the two unreconciled deposits for $100
& $50 as it would for normal transactions because they are invoice payments.

Does Microsoft even run this product through user trials at all? I would
imagine that all small businesses operate this way!!

Okay, so I can set-up still another account, make the invoice payments to
that account, and then make transfers out of that account into the checking,
but then that "virtual account" is completely managed by me and I end up with
_TWO_ accounts receivable accounts just to deal with this stupid program.


"Chris Cowles" wrote:

> An alternative is to create a second dummy bank account called 'deposits'.
> (I wouldn't bother with this unless I was a small business or something like
> that.) Record the individual checks into the deposits account as income,
> transfers from accounts receivable, etc. Record the actual bank deposit in
> your checking account as a transfer from deposits.
>
> Reconcile the deposits account when you receive record of the deposit. The
> balance in the deposits account should always be zero, unless you have some
> undeposited checks sitting on your desk.
>
> Using splits is easier. Using the separate deposit account may provide more
> information.
> --
> Chris Cowles,
> Gainesville, FL
>
> "Mark Vetrano" <mvetrano@newbreed.com> wrote in message
> news:%23n3UuGs3EHA.3416@TK2MSFTNGP09.phx.gbl...
> >I have this same situation and the way I record it as follows:
> >
> > Enter a single transaction and set up SPLITS for the category. Each split
> > would be categorized for one check and put the check payee in the
> > memo/description field. If your bank works like mine when I hand them 3
> > checks they break it our on the receipt but it actually show up on my
> > statement as 1 deposit. I hope that helps.
>
>
>