Can I add a sub-account to an existing account

AGR8SKP
AGR8SKP Member ✭
in Registers & Transactions (Windows)

I have a no interest 36 month loan and I want to auto pay it from my existing savings account but I want to make sure there is always enough money in the account. I would like to set aside the money for the entire loan in a sub account in the savings account and deduct the monthly payment from that sub account each month but as far as the bank is concerned, the account balance is the entire account balance. Can this be done?

Answers

  • Scooterlam
    Scooterlam SuperUser, Windows Beta Beta
    edited May 16

    Have you considered using the Savings Goals feature in Quicken - to reserve money for your loan payments? Click on the help topic below and have a look.

    https://help.quicken.com/display/WIN/About%2Bsavings%2Bgoals

  • splasher
    splasher SuperUser ✭✭✭✭✭
    edited May 16

    There is no way to create a subaccount in Quicken, but @Scooterlam's suggestion of using a Savings Goal should do what you want since it will make the originating account look like it does not have the amount of the SG in it.

    -splasher  using Q continuously since 1996 -  Subscription Quicken  -  Win11
    -Questions? Check out the  Quicken Windows FAQ list

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