Transfer from Quicken 2001 DeLuxe

[Bruce]

Thank you George for being SOOO patient with me in helping me to carry out the transfer of data to Genie4 Pro. I have two questions:
1. How to enter cash transactions as they occur, and automatically reduce the cash balance, and charge the appropriate category? (I usually have a "Split" that I use and keep a month's transactions all together).
2. When extracting Net Worth, how do you exclude the imminent Satnding Orders already programmed?

[ideasguy]

You are very welcome Bruce It is always good for me to do telephone support - its an opportunity to gain immediate feedback on first impressions and the minor "obstacles" encountered by a new user.
I did feel for you, as you were importing data dating back to the 1990's and you had numerous accounts. I'm delighted you got it all imported after a few prompts
It was all the more interesting in that you had a career in Accountancy. I may have questions for you... 

Your Question 1.
Thank you for explaining this to me on the phone.
Its related to an "accounting mechanism" which you used in Quicken.
As discussed, I plan to do a web page article to explain how that works to other members, based on what we discuss here.
We will deal with this after we have dealt with Question 2.

Your Question 2.
Easy
This was worthy of an entry in the FAQ.
You'll find your question here and a link to the Answer.
http://www.bankgenie.net/UserGuide/FAQ-Index/faq-index.html

[Bruce]

Further to your interest in the way Quicken allows transfers direct from one Bank account to another.
I usually open a Split account each month, in the Cash "Bank". Each time I spend cash, I enter the amount and category (e.g.Newspapers), and the sum is deducted from the cash balance - representing what is now "in my pocket".

Similarly, if I lodge some of the cash I have in my pocket, I enter the name of the Bank account into which I lodge it, as though it were a"Category",and the appropriate bank account gets credited, at the same time.

To do the same in Genie4 Pro, I use the "Transfer" feature, for the same effect.

I hope the above is helpful!

[ideasguy]

Thanks for that Bruce. A good start to that article we discussed on the phone.
It was a revelation to me when you explained how Quicken shows Bank Accounts in the Category list, thus allowing you to do "a Transfer" by picking an account - perhaps rather unwittingly.
To do a Transfer in Bank Genie its quite deliberate. You select the Category= Transfer in one drop down list (which does NOT contain Bank Accounts), and select the Bank to receive the transfer from a dropdown list of ( ) Bank Accounts.
The end result is exactly the same

Incidentally, when data is exported from Quicken to a QIF file for import to Bank Genie, those Quicken transactions are found in the QIF file to be Transfers.

[Bruce]

Further to my earlier questions - I have been using the "Easy add" facility on   Bank Genie 4 Pro to enter every Cash, or other Bank transaction as it occurs, and the screens are filling up. When I used Quicken, I simply opened a new "Split" category, for cash for example, at the beginning of each month.
Can you please advise me how to clear each bank screen, at the end of my first month, September 2012, in anticipation of starting afresh, in the new month, with a set of new transactions?

[ideasguy]

Hi Bruce

You can also enter your Cash transactions as splits in Bank Genie.

However, I think its better to enter them as individual transactions (which they are) using the Easy Add screen as you have described.
I would recommend setting the statement date to the last date in the month (or any date which suits the user e.g. Payday) and clicking the Reconcile button at month end.
That will hive one month of transactions away, carry your Cash balance over into the next month and cut down on the clutter of transactions by segmenting them into "statements".
Would that work for you?

[Bruce]

Yes thank you - that would be fine.
I intend to continue using the Easy Add screen, for each transaction, during the month, and , when month end comes along, click the Reconcile button.
Does this operation take care of one Bank at a time (e.g. Cash, Current Account, Credit Card Account, Savings Account), or does one reconciliation cover all accounts?
Sorry to be so slow, but I'd like to get it right, before the month end.
Your help is appreciated!
I have later recognised that EACH Bank requires to be reconciled SEPARATELY!

[ideasguy]

Yes Bruce each account has to be reconciled individually, to match the closing balance on the statement (or latest on line status) you are reconciling to.

[barryl]

Which is of  course true for Quicken also.