Quicken Community is moving to Single Sign On! Starting 1/22/21, you'll sign in to the community with your Quicken ID. For more information: http://bit.ly/CommunitySSO

Treating transfers as "income" for budgeting purposes - solution?

Hi all: It's crystal-clear that transfers are neither income nor expense.

But do I recall correctly that there is either a new feature or a workaround that allows a transfer of funds INTO an account to be treated (for Quicken Budget purposes only) as "income?"

Example: how might I handle (in a Quicken Budget) a recurring split that is categorized as:
1) a transfer FROM an account that is NOT accounted for in the budget,
2) INTO a checking account that IS part of a Budget (and as such would ideally show as "income" to pay a bill)...
3) and then when the bill is paid, the outlay could be reflected/tracked as a budgeted "expense"...
...with no change to Net Worth as a result of the transfer in?
Hope that makes sense. Thanks.
Tagged:

Best Answers

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Accepted Answer
    Go to your budget and click Edit Budget. Click not he button to Select Categories. Scroll down through the category list until you get to "T" -- and here you'll find "Transfers In" and "Transfers Out" with all your accounts listed under them. Click the account(s) you want for Transfers FROM and Transfers TO, and they will now show up in your budget, with FROM under Income and TO under Expenses.

    Does that get you where you want to be?
    Quicken Mac Subscription • Quicken user since 1993
  • mjmason78
    mjmason78 Member
    Accepted Answer
    jacobs -
    It does, thank you - appreciate the reply. Surprised I hadn't found that... I hope it was a recent addition and not just something I missed last time I went looking.
    Thanks again

Answers

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Accepted Answer
    Go to your budget and click Edit Budget. Click not he button to Select Categories. Scroll down through the category list until you get to "T" -- and here you'll find "Transfers In" and "Transfers Out" with all your accounts listed under them. Click the account(s) you want for Transfers FROM and Transfers TO, and they will now show up in your budget, with FROM under Income and TO under Expenses.

    Does that get you where you want to be?
    Quicken Mac Subscription • Quicken user since 1993
  • mjmason78
    mjmason78 Member
    Accepted Answer
    jacobs -
    It does, thank you - appreciate the reply. Surprised I hadn't found that... I hope it was a recent addition and not just something I missed last time I went looking.
    Thanks again
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    @mjmason78  If it's any consolation, being able to select transfers to include in a budget is a relatively recent addition to Quicken Mac: it was added in version 5.18 back in September.
    Quicken Mac Subscription • Quicken user since 1993
Sign In or Register to comment.