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Cannot schedule a transfer if 'Use Category Field' preference is turned off.

I want to be able to use my own value in the category field for transfers. Why is this not possible to schedule ?

Comments

  • John_in_NC
    John_in_NC SuperUser, Mac Beta Beta
    For various reasons (accounting rules/Windows compatibility), they are deprecating the ability to categorize transfers. That is why the new create scheduled transaction does not allow this.

    You can manually enter the transaction with your desired category and make it a transfer via the transfer field. Then, right (Control) click, and you can choose to schedule it. The schedtransx will remain a transfer with your category.
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    You can manually enter the transaction with your desired category and make it a transfer via the transfer field. Then, right (Control) click, and you can choose to schedule it. The schedtransx will remain a transfer with your category.
    But be aware that the product manager has indicated this will also not be possible in the future. A transfer between accounts which is also categorized as income or expense violates basic rules of accounting, but earlier versions of Quicken allowed it because there was no ability to do reports on transfers. As they have added capabilities to Quicken to report on (and sometime in the not-too-distant future to budget for) transfers, they plan to remove the ability to have a transaction be both a transfer and have a category.
    Quicken Mac Subscription • Quicken user since 1993
  • crashmeister3
    crashmeister3 Member ✭✭
    Actually, I have set up a group 'TxfrAcc' which holds categories for inter-account transfers. Examples include 'Savings Contrib', 'Savings Withdraw', 'Goal Contrib', 'Brokerage Account TXFR' etc.

    Some accounts hold more than one kind of $$$ and it's nice to be able to distinguish between them.

    It would have been better if they allowed subcategories in the Transfer category.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    I think what people that advocate for being able to categorize transfers don't get is that you are double counting a transaction.  Once in the transfer and once in the category.

    This results in making reports much more difficult to get right without double counting.
    Also this reflects in the budget too.  As in if and when Quicken Mac gets the ability to use transfers in the budget like the Windows version does, the developers will again have to jump through loops to try to prevent double counting of transactions.
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  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Chris_QPW said:
    If and when Quicken Mac gets the ability to use transfers in the budget like the Windows version does, the developers will again have to jump through loops to try to prevent double counting of transactions.
    Transfer in budgets is definitely coming, according to the product manager. And I would guess from his comments that when that day arrives, that's when they will completely disable the ability to have a category on a transfer. 
    Quicken Mac Subscription • Quicken user since 1993
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