Home Quicken for Windows Budgeting and Planning Tools (Windows)

Budgeting credit card payments that go to a specific category

I am using (and loving) the budget feature, However, just ran into an issue. There are a select few things that I use my credit card for - namely larger planned purchases which I immediately pay off. The issue I am having (and I'm probably doing something incorrectly) is that by default the payment to the credit card company defaults to a transfer from my checking to the credit card (rightfully so), but in the budget, I want to plan/see where that money goes. For example, if I'm doing a house project and I need $500 of stuff from the hardware store, i have a line item in my budget for house project, plan for the $500 and then when the transaction hits, I set the category to house project....which works perfectly for budgeting....but now there is no longer a transfer to the credit card and my balance (in Quicken) still shows as $500.

Is there any way to keep the transfer and add a budget category?? And Again, most likely I am doing something incorrectly. Any advice or direction would be greatly appreciated.

Best Answers

Answers

  • Quick QuestionsQuick Questions Member ✭✭
    edited September 2019
    Thank you very much Scooterlam!!! Huge step forward for what I'm trying to do. The process you identified makes total sense. And has me almost there. Again, I think it's a user issue, so thanks in advance for your patience. I recorded as you showed above and in the accounts it works perfectly (correct balances) and for the house project in the budget, it's perfect too. The one thing I am missing is showing the credit card account in my budget. I went to Budget Actions->Select Categories->Select accounts and the CC is marked (All of my accounts are)....but in the Manage Budget Categories, the CC is not listed. I went to tools->Category list and the CC is there...I just can't get it to show in the budget. What am I missing?

    Thank you again for your help!

    Quick follow up - perhaps I just needed to remove the Transfer Out from the budget. That seems to eliminate the "double dip" that was happening in my budget. Am I on the right path?
  • NotACPANotACPA SuperUser ✭✭✭✭✭
    edited September 2019
    @scooterlam, that's a GREAT graphic.  Where did it come from, OR how did you produce it?
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • ScooterlamScooterlam SuperUser ✭✭✭✭✭
    edited September 2019
    NotACPA said:
    @scooterlam, that's a GREAT graphic.  Where did it come from, OR how did you produce it?
    Thanks. I put it together using Powerpoint.
  • @Scooterlam - THANK YOU THANK YOU THANK YOU! Very thorough answer!! And I agree with @NotACPA - the graphic was very helpful.
    This 100% answered my question!
This discussion has been closed.