Credit card account data to my checking account?

alertcom

I've added my credit card accounts and have categorized the transactions. How do I now add this data (or bring it into) the actual bank account from which I pay the credit card bill?

RickO

It sounds like you have all your credit card transactions in a credit card account in Quicken. This is how it should be. You do not add the data to or bring the data into the checking account. However, you can reflect the payment from the checking account into the credit card account to zero out the balance in the cc account. You do that with a transfer transaction.

Here's a video by a fellow user explaining the gist of it. The version is a bit out of date, but the ideas are the same:

https://www.youtube.com/watch?v=7LcoI3I85cY

RickO

It sounds like you have all your credit card transactions in a credit card account in Quicken. This is how it should be. You do not add the data to or bring the data into the checking account. However, you can reflect the payment from the checking account into the credit card account to zero out the balance in the cc account. You do that with a transfer transaction.

Here's a video by a fellow user explaining the gist of it. The version is a bit out of date, but the ideas are the same:

https://www.youtube.com/watch?v=7LcoI3I85cY

alertcom

Thank you RickO. I watched the video and it's super helpful. The one remaining question I have pertains to Reports. Do I understand correctly that once I've downloaded the CC items, check that they're correctly categorized, and enter the Transfer transaction in the Checking account that pays this bill, the correctly categorized items will appear as a Split in the checking account so that when I print a report for my tax preparer each expense category will be properly populated?

jacobs

@alertcom No, the only transaction in your checking account is the one monthly (typically) payment from your checking account to pay your credit card. There's no split; it's just a simple transfer.

All the expense details are in the individual transactions in your credit card account. When you generate a report of your expenses, all those categorized expenses will be there.