Recording a Bank Transaction Not As An Expense In Quicken

Question

I track monthly expenses in Quicken for retirement planning purposes but one time outlays are tracked in a different way.   When I receive this one time transaction, is there a way to capture it so it doesn't show up in my monthly expenditures under the Spending Tab?

NotACPA · Accepted Answer

Why is it not an expense?  In Accounting, there are only Income, Expense and Transfer transactions.

There are no "Phantom" transactions.

volvogirl · Accepted Answer

You could transfer it to another account you set up for it.  Can you give an example?  What are you categorizing it to?  If you run a report don't include that category.

bmciance · Accepted Answer

It really depends on the "one time" transaction.  For example, if it is to buy a car then you should create an asset account for the car and use that as the "category" of the transaction.

On the other hand, if it is just a "rare" expense I would say it still belongs in the Spending Tab since you did spend it.