Account Misclassified as "investment"

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nola5736
nola5736 Member
edited March 2023 in Investing (Windows)
My checking account was misclassified as an investment account when I connected it to Quicken. How can I change it to a bank account rather than investment accounnt?
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Answers

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
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    There are two factors that affect how an account is classified in Quicken.

    One is the Account Type, which is established when you first set up the account. If you click on the gear at the top right of the account's register then select Edit account details, you will see the type - Checking, Savings, Credit, Brokerage, IRA, etc. This affects what you can do in the account. Checking and Savings accounts can only hold cash, not securities for example. With some exceptions, you cannot change the account type. I assume this is not your issue.

    The other is the Account Intent, which is shown on the Display Options tab of the Account Details. This affects how the account is grouped for display and reporting purposes. Depending on the account type, the options may be Spending, Savings, Investment, Retirement, Credit, Asset, or Liability.

    Apparently what has happened is that your Account Type is Checking but the Account Intent has been set to Investment. If so, you can correct that by changing the setting in Display Options.

    If this is not the issue, please post back with more details.
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