Possible to Change Bank Account to Savings Goal Account?

I have 5 savings accounts currently connected online to a financial institution and categorized at Type - "Bank"
I would like to move these accounts to Savings Goals and keep them connected on line. Is that possible?

I want to create these savings goal accounts so I can save, for instance, for Property Tax which I pay once a year. I want to be able to track my monthly savings in savings goals and see it in my budget.

I find that my monthly contributions to Property Tax Savings show as an expense in my budget but when I write a check to actually pay the property tax, it TOO shows as an expense thereby doubling the amount in my budget. Does this make sense? Thank you.

Best Answer

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    Joanne said:
    I have 5 savings accounts currently connected online to a financial institution and categorized as Type - "Bank"
    I would like to move these accounts to Savings Goals and keep them connected on line. Is that possible?
    No.  If you haven't already, you may want to review: https://www.quicken.com/how-set-savings-goals.
    I want to create these savings goal accounts so I can save, for instance, for Property Tax which I pay once a year. I want to be able to track my monthly savings in savings goals and see it in my budget.
    If you haven't already, you may want to view: How to create a budget
    I find that my monthly contributions to Property Tax Savings show as an expense in my budget and then when I write a check to actually pay the property tax, it TOO shows as an expense thereby doubling the amount in my budget. Does this make sense? Thank you.
    No.

    If you do not want your monthly contributions to Property Tax Savings show as an expense in my budget, I suggest you exclude them from the budget.

Answers

  • Joanne
    Joanne Member ✭✭
    Im Sorry.....I posted to the wrong category. I'll copy and paste to correct discussion.
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    Joanne said:
    I have 5 savings accounts currently connected online to a financial institution and categorized as Type - "Bank"
    I would like to move these accounts to Savings Goals and keep them connected on line. Is that possible?
    No.  If you haven't already, you may want to review: https://www.quicken.com/how-set-savings-goals.
    I want to create these savings goal accounts so I can save, for instance, for Property Tax which I pay once a year. I want to be able to track my monthly savings in savings goals and see it in my budget.
    If you haven't already, you may want to view: How to create a budget
    I find that my monthly contributions to Property Tax Savings show as an expense in my budget and then when I write a check to actually pay the property tax, it TOO shows as an expense thereby doubling the amount in my budget. Does this make sense? Thank you.
    No.

    If you do not want your monthly contributions to Property Tax Savings show as an expense in my budget, I suggest you exclude them from the budget.
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