How do I transfer funds from one account to another. Using withdrwX but results in - cash balance

Blair Williams
Blair Williams Member ✭✭
edited October 2018 in Investing (Windows)
Quicken 2009

Comments

  • UKR
    UKR SuperUser ✭✭✭✭✭
    edited September 2018

    WithdrwX is the correct transaction type to use to, for example, transfer cash from your investment account to your checking account.

    And yes, this will reduce your investment account's cash balance. You need to sell some securities or otherwise make cash available to cover the withdrawal or you will be running a "Margin balance", provided that your brokerage allows that.

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited May 2018
    "Funds" is ambiguous.  

    You transfer 'cash' as a WithdrawX transaction.  The cash balance in both accounts will be affected. 

    You can transfer 'shares in a security' (like mutual fund shares) using the Shares transferred between Accounts selection under the Enter Transactions button.  That will then generate a Remove Shares transaction in the sending account and Add Shares transactions in the receiving account.  Cash balance in both accounts will not be affected.     
  • Blair Williams
    Blair Williams Member ✭✭
    edited October 2018
    Thanks. What 'action' do I use in the transaction screen? I use withdrwX and it transfers the money to transfer account, but shows a negative cash balance?
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited April 2017

    Thanks. What 'action' do I use in the transaction screen? I use withdrwX and it transfers the money to transfer account, but shows a negative cash balance?

    Do you already hold the cash in the FROM account?  Or is it a security that you first need to Sell, in order to create the actual Cash?
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
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