nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Placing a cash amount into personal checking from cash account

Mommy

HI!

I have a personal checking register set up and it has been updating beautifully based on my online banking account. The problem I am having is that I have set up a CASH ACCOUNT and record transactions into and out of the account when i spend cash. This reflects correctly in my budget and spending. HOWEVER, When i remove a certain amount of cash and place this exact same amount into my personal account it will then throw off my spending by that amount. (NOTE: My CASH & ATM category is checked as INCOME not expense)

Here's an example

Say I have 500.00 in the cash account and remove 100.00 to place into personal checking.
The personal checking updates and reflects the amount correctly but now the CASH account transaction has caused my overall spending report to show 100.00 more than I actually spent. I didn't spend the 100 i just placed into the bank to spend later.

Find more posts tagged with

New to Quicken

Accepted answers

All comments

Ps56k2

Mommy said: Say I have 500.00 in the cash account and remove 100.00 to place into personal checking.

Are you performing a TRANSFER to remove the cash and place into the Checking ?

or are you just entering them as a Payment and Deposit ?

A Transfer is accomplished by using the [Category] name of the target account ...
ala.... in your Cash account ....
enter a transaction for ... [Checking Acct Name] and $100 in Payment

Mommy

Thats exactly what im doing. A removal from cash to deposit into personal checking! I will try the transfer and see if that corrects it!

Ps56k2

Here is how it looks for my ATM withdrawal transaction - going the other way -
from my Checking acct --> [Cash Wallet] acct ....
and then any cash payments are recorded from my Cash Wallet transactions

Image: https://us.v-cdn.net/6031128/uploads/editor/4f/lf9ajenu3zt5.jpg

Mommy

> @Ps56k2 said:
> Are you performing a TRANSFER to remove the cash and place into the Checking ?
> or are you just entering them as a Payment and Deposit ?A Transfer is accomplished by using the [Category] name of the target account ...
> ala.... in your Cash account ....
> enter a transaction for ... [Checking Acct Name] and $100 in Payment

So I changed the transaction categories under the transfer option and the spending balance changed accurately. Now, when I generate an historical budget for month to date it is $100.00 off showing an extra $100 spent which comes from the transfer from Cash to Personal Checking. Did I miss a step or an extra step I am not taking?

Quicken_Tyka

Hello @Mommy

Thank you for the response and the additional details.

Can you please provide a screenshot of what you are seeing using the Windows Snipping Tool?

You can then drag the image to the comment box to share it with the Community.

The more information you can provide regarding this issue will help the Community to better understand and assist.

Thank you,
-Quicken Tyka

Chris_QPW

Mommy said:

Now, when I generate an historical budget for month to date it is $100.00 off showing an extra $100 spent which comes from the transfer from Cash to Personal Checking. Did I miss a step or an extra step I am not taking?

Do you have transfers budgeted?
If you are only budgeting regular categories the transfer should be invisible to the budget. But because people want to sometimes budget transfers there is way to select them with "Transfer In" and "Transfer Out". If you have one of these selected it would certainly through it off like you mentioned.

Mommy

Here is the transfer from cash to personal

image.png

Mommy

this the budget report with the transaction showing in the report.

image.png