How to label or categorize transferred money

jheredia

Checking account to savings - I buy something that cost $.50 I use my debit card to pay. The bank rounds up to the nearest dollar and transfers the amount to savings account how do I label this?

Jim_Harman

You can't categorize transfers because the money is not spent, it is just moved from one pocket to the other. The transfer will appear on spending and budget reports if you set them up properly.

jheredia

Hi. I see ok thank you for your help.

splasher

It ends up being a split transaction, $.50 at the category of what you bought, $.50 as a transfer from Checking to Savings.