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Quicken Classic for Windows
Errors and Troubleshooting (Windows)
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.
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Accepted answers
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?
All comments
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
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