Add Ability to Include or Exclude Transfers on Budgets in Quicken for Mac (452 Legacy Votes)

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Comments

  • Jim38@[email protected] Member ✭✭
    edited January 2019
    Quicken Support: Any updates or comments? I’d sure appreciate some information before I spend multiple days painfully implementing a Band-Aid solution to my finances in order to track transfers within my budget...
  • Jim38@[email protected] Member ✭✭
    edited November 2019
    Frustrated that this is still a Windows-version only feature. Budget transfers between accounts...

    https://www.quicken.com/support/how-d...
  • Norman VaughnNorman Vaughn Member
    edited November 2019

    One idea for including Transfers on the Budget tab: Simply use Excel-style, classic conditional formatting rules. Allow users to create custom entries for the Budget. Name: "Savings Transfers", Accounts from (Select all that apply): "BoA Checking", Accounts to (Select all that apply): "BoA Family Savings", Additional Filters: "Tag = " or "Payee Includes = ", etc., etc. 

    Thanks, Jim. I get the idea of setting up a "transfer to" category and then sub-categories for the various accounts I want to budget for, and then recording the transaction in Quicken showing the transfer as an expense to that category instead of an actual transfer. That way it will show up on the budget reports and can be budgeted for.

    What I still don't understand is how you accomplish is the actual transfer of funds into the target account?  When you assign it to the phantom "transfer to" category, the amount virtually disappears. 
  • GMGM Member
    edited January 2019
    I have just bought this product literally this weekend... this was the first thing I wanted to do with it. It is fundamental.
  • Chris MeadChris Mead Member ✭✭
    edited January 2019
    All,

    I agree  - was about to ask the question before I searched for the thread.  I thought I was doing something wrong in setting up a liability (loan) and using transfers to pay it down.  When in the budget I calculate the income verses expense and see the gap I naturally want to see a "budget" for paying down the loan.  This is maybe one of the most important reasons to create a financial planning tool.  For now I suppose I must create a new expense category that won't see any actuals - or I have to reclassify the loans as what - negative expenses?  I don't see that as possible.

    So yes, this issue has been out for years.  Funny, my company can develop and deploy level A commercial and military airplane software quicker than Quicken can address this issue.  

    Question though - does the Windows version also have this gap?

    Chris
  • Steven KisorSteven Kisor Member
    edited November 2019

    This feature, when implemented, must be flexible enough to enable/disable transfer from the budget on an account-by-account basis. (Since being able to select accounts for budgets is a feature request Quicken has not yet implemented, I suspect it's why including/'excluding transfers has also not yet been implemented.) Here's why: a transfer to pay your credit card bill should NOT be included int he budget, because you already have all the individual expense transactions in your credit account reflected in the budget. But a transfer to pay down a loan SHOULD be included i your budget, since it's money coming out of your cash flow every month. And you might want the option to include transfers to a retirement or non-retirement savings account in your budget, too, if you set a plan for savings and want to make sure you stick to it. So making ALL transfers show up in the budget won't work; it has to be implemented so it can be done on an account-by-account basis.

    I just found this thread, after unsuccessfully trying to budget my mortgage payment transfers.  I just purchased QM 2019 in hopes that this issue was resolved.  Disappointingly, it is not.  
     So I've been flustered as to why I cannot get Quicken for Mac to do this. For several months, I thought it was just me.  I'm glad I found this thread, to realize it's Quicken's oversight.
  • jacobsjacobs SuperUser ✭✭✭✭✭
    edited November 2019

    This feature, when implemented, must be flexible enough to enable/disable transfer from the budget on an account-by-account basis. (Since being able to select accounts for budgets is a feature request Quicken has not yet implemented, I suspect it's why including/'excluding transfers has also not yet been implemented.) Here's why: a transfer to pay your credit card bill should NOT be included int he budget, because you already have all the individual expense transactions in your credit account reflected in the budget. But a transfer to pay down a loan SHOULD be included i your budget, since it's money coming out of your cash flow every month. And you might want the option to include transfers to a retirement or non-retirement savings account in your budget, too, if you set a plan for savings and want to make sure you stick to it. So making ALL transfers show up in the budget won't work; it has to be implemented so it can be done on an account-by-account basis.

    Steven, keep your fingers crossed that relief from this problem will be forthcoming in one of the 2019 updates to the program.
    QMac 2007 & QMac Subscription • Quicken user since 1993
  • Michael 102Michael 102 Member ✭✭
    I was trying to be good and get a better handle on budgets, only to be thwarted by this missing need. 

    I can get around this problem a little by creating a report and excluding accounts on the report. Why I can't exclude them on a budget is a strange omission.
  • BillSki75BillSki75 Member ✭✭
    Adding a "normal category" works for the reports and the pie graphs, but it still doesn't display properly in the budget.
  • Update from Quicken on this subject located here: https://community.quicken.com/discussion/7850456/quicken-for-mac-v5-11-released#latest

    Specifically:

  • dotymandotyman Member
    Since all of the previous discussions regarding the need to account for transfers in the budgeting module have been closed, I would like to add another urgent request for this ability to be added.

    While I wouldn't include transfers to track my credit card payments in a budget (transactions are already booked to categories in the credit card account), I DO need to be able to budget for my LOAN principle payments (home and auto). Loan liability retirement payments are significant monthly outflows that are otherwise unaccounted for in this version of Quicken for Mac (it used to be possible in the original Intuit Quicken for Mac software).

    Without this ability, the budget feature's usefulness is seriously compromised since it is a cash flow tool.

    Please add this feature as soon as possible–the current deficiency requires unnecessary additional processes to be a truly useful budgeting tool.

    Thanks,

    dotyman
  • Quicken_TykaQuicken_Tyka Moderator ✭✭✭✭
    Hello Dottyman,

    I have moved your post to the ongoing Idea thread to add the ability to track transfers in the budget.

    Be sure to add your vote at the top!

    Thank you!
    -Quicken Tyka
  • seansean Member
    Can you add a link to the idea so we can vote on it?
  • smayer97smayer97 SuperUser ✭✭✭✭✭
    edited May 2019
    Voting is clumsy on this site. You have to go to the top of page 1 of this thread. Click on tiny grey triangle under the vote count and wait a moment for your vote to be added. Triangle will change from light grey to solid dark grey. 
    Have Questions? Check out these FAQs:COMPLETE list of Product Ideas - Quicken for Mac to VOTE on

    Object to Quicken's business model, using up 25% of your screen
    ? Add your vote here:
    Quicken should eliminate the LARGE Ad space when a subscription expires


    (
    Canadian Q user since '92, STILL using QM2007)

  • jacobsjacobs SuperUser ✭✭✭✭✭
    @smayer97 @sean No, you cannot vote on this idea, because -- this is good news -- it's been marked in the voting box as "Planned". That means the developers have stated they will be implementing this functionality, and they don't need/want people to continue to vote on it thinking it will help bring it to fruition. You can see blue voting box and the status after the first post on page 1 of this thread, but you can't vote for it. This idea has 452 "legacy votes" (votes from the previous Quicken community forum) plus 11 more on this site, making it one of the -- if not the -- top requests users have voted for. 

    The developers almost never say when a new feature will be released, because there are many variables in the time it takes to plan, code, test, fix, test, and repeat until a feature is ready for release. They know people want it, but they don't want to release something that's buggy and gets people more upset. From comments made on this forum by the Mac product manager, I think it's accurate to say this is on the very near portion of the development roadmap, but I don't know if that means it's coming in the next month or two or three. There hasn't been an update since early March, so hopefully the long time gap means some major new feature is (features are?) coming in the next update, but we just have to wait and see. With big new features, they often release added functionality in stages, pausing to get user feedback on the first iteration before going back to refine it a month or so later.
    QMac 2007 & QMac Subscription • Quicken user since 1993
  • seansean Member
    Thanks @jacobs !
  • smayer97smayer97 SuperUser ✭✭✭✭✭
    edited November 2019
    jacobs said:
    @smayer97 @sean No, you cannot vote on this idea, because -- this is good news -- it's been marked in the voting box as "Planned". 
    Thx. I hadn't checked the status. [removed - off-topic]
    Have Questions? Check out these FAQs:COMPLETE list of Product Ideas - Quicken for Mac to VOTE on

    Object to Quicken's business model, using up 25% of your screen
    ? Add your vote here:
    Quicken should eliminate the LARGE Ad space when a subscription expires


    (
    Canadian Q user since '92, STILL using QM2007)

  • usmc93usmc93 Member
    edited August 2019
    (rant redacted) This is THE most requested feature and nothing after years...my question is why does everyone stick with them?
  • jacobsjacobs SuperUser ✭✭✭✭✭
    @usmc93 I can't speak for "everyone." I can tell you why I stick with Quicken: I've got more than two decades of data compiled in it that is very useful to me, the software works well enough for me, and I continue to see that it is moving in the right direction in terms of enhancements. Is it perfect? Of course not. Am I frustrated at some of the features it is missing? Yes, of course. Is there an obviously better option on the market for my needs? Not that I'm aware of (although I haven't invested a lot of time in detailed trials of other options). 

    Take the issue of this thread, transfer in budgets. Is it frustrating that it's mid-2019 and we're still waiting to see this implemented? Sure. Can I work around it until they deliver? Yes. If I want to add a savings goal and/or a loan payment to my budget, I can add that amount monthly to the Quicken budget to know where I stand. Not pretty, not perfect, but workable enough for me.

    I understand why others may feel otherwise, or why this missing feature may be more problematic for people with lots of loans, or multiple savings goals, or needing to closely monitor cash flow to pay the bills each month. So I'm not trying to tell anyone it's not a big deal, or that I'm right and they're looking at it wrong; I'm only trying to answer your question why I stick with Quicken despite its shortcomings. 
    QMac 2007 & QMac Subscription • Quicken user since 1993
  • AZCoder1959AZCoder1959 Member ✭✭
    @jacobs Couldn't have said it better myself. I'm guessing I've been using Quicken even longer than you and I've had my share of heartaches with the product over the years. Since I switched the Mac version, I've been generally happier, but I'm frustrated that certain features from the PC version haven't migrated to this one. Budgeting is a core capability for me, so every time the company solicits my input, I always bring it up as a must-have. I certainly won't switch to another product without this because, as you noted, it does more or less everything I need it to do -- and what it does, it does well.

    So counseling patience is the only thing we veterans can offer.
  • smayer97smayer97 SuperUser ✭✭✭✭✭
    See the latest comment/update by Quicken Marcus about this development (in the middle among other topics):
    https://community.quicken.com/discussion/comment/20023563#Comment_20023563

    Bottom line, they were delayed by other work and are now working on it but it may still take time.
    Have Questions? Check out these FAQs:COMPLETE list of Product Ideas - Quicken for Mac to VOTE on

    Object to Quicken's business model, using up 25% of your screen
    ? Add your vote here:
    Quicken should eliminate the LARGE Ad space when a subscription expires


    (
    Canadian Q user since '92, STILL using QM2007)

  • HQHQ Member ✭✭
    As a loyal Quicken for Mac user, I have been patiently waiting for the ability to "Include or Exclude Transfers in Budgets". Product management has repeatedly said it's a priority. Still, month after month, year after year it's MIA. Is there any reason for hope?
  • jacobsjacobs SuperUser ✭✭✭✭✭
    edited September 2019
    HQ said:
    Is there any reason for hope?
    Yes: the fact that they have said they are working on it. ;)
    QMac 2007 & QMac Subscription • Quicken user since 1993
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