Transferring Funds between Accounts within Quicken

nicholsn

When transferring within Quicken between accounts, the amount I transfer as a payment shows up in the destination account as a negative and the balance in the receiving account is showing this and all previous transfers as negative (red) whereas the receiving account balance should be increasing (Black). IE - from checking to savings.

NotACPA

OK, using your checking/Savings example (a credit card, or any other liability, works differently), you should have

• In your checking account, a BLACK number in the Balance column
• The amount to be transferred in that Payment column
• The category field should be the name of your Savings account enclosed in square brackets (e.g., [Savings])
• The value in the checking account grows smaller (closer to $0)

Meanwhile,

• In your Savings account, the balance column should normally be BLACK, unless you're transferring funds to cover a possible overdraft (RED number in the balance column
• The amount that was transferred (received in Savings) would be in the Deposit column
• The category field should be the name of your checking account in square brackets.
• The value in the savings account grows larger.

Is all of the above true in your accounts?  If not so, what's different?

NotACPA

OK, using your checking/Savings example (a credit card, or any other liability, works differently), you should have

• In your checking account, a BLACK number in the Balance column
• The amount to be transferred in that Payment column
• The category field should be the name of your Savings account enclosed in square brackets (e.g., [Savings])
• The value in the checking account grows smaller (closer to $0)

Meanwhile,

• In your Savings account, the balance column should normally be BLACK, unless you're transferring funds to cover a possible overdraft (RED number in the balance column
• The amount that was transferred (received in Savings) would be in the Deposit column
• The category field should be the name of your checking account in square brackets.
• The value in the savings account grows larger.

Is all of the above true in your accounts?  If not so, what's different?

Carp

Very helpful. Thanks