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

Blair Williams

Quicken 2009

UKR

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

"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

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

Blair Williams said:

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?