Expense not showing up under budget category
Hi All,
Running Quicken Version 6.12.4 on a MacBook OS 13.2.1.
I created a couple of auto loans following the step by step instructions of the app. Quicken sets the loan montnly payment from the account I chose at setup. When paid, it enters one split trasaction showing the principal and interest amounts. It assignes a transfer entry under the category and tranfer fields of the principal amount and an interest entry under category for the interest. But I want to track the total payment on the budget.
The money goes from a checking to a savings acc and from the savings account to pay the loan. I set up the transfer transaction from the checking to the savings with "Auto & Transport:Auto Payment" as the category. and the budget keeps showing zero spent.
What am I missing? the way I understand it is, if I use the "Auto & Transport:Auto Payment" as the category for the checking to savings transfer, it should show in the budget under "Auto & Transport:Auto Payment" but is not.
I've been using Quicken for many years. but never really use the budget because something like this always comes up. but I'm giving it another try.
TIA
Best Answer
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If you want the car payment to show up as an expense you need to delete the loan account. That way Quicken sees the payment as money going out, not simply as a transfer between accounts. But then you don't have the loan on the books & that throws off your net worth.
Quicken Mac subscription. Quicken user since 1990.
1
Answers
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You can try this: edit the budget, press the Select Categories button in the lower left, and scroll down the list to the Transfers section. Select which account you want to budget transfers for, and in which direction. This will include all transfers for that account in that direction, so if for example you select transfers from checking it will include all transfers from checking, not just the auto payment.
Quicken Mac subscription. Quicken user since 1990.
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thanks for the reply. I tried that. all it does is add a line to the budget showing the loan transfer but under "Auto & Transport:Auto Payment" section of the budget remains zero.
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RIght. It's not going to show up under the expense category because it's not an expense, it's a transfer. The only actual expense is the interest.
Quicken Mac subscription. Quicken user since 1990.
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Ok, I just tought a car paymet would be considered an expese. but if that is how it work, I guess that's how it works. thanks for your help.
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If you want the car payment to show up as an expense you need to delete the loan account. That way Quicken sees the payment as money going out, not simply as a transfer between accounts. But then you don't have the loan on the books & that throws off your net worth.
Quicken Mac subscription. Quicken user since 1990.
1