Assigning a Category for a cash transfer from an Investment account to Checking account

KSES

Each month I transfer an amount from my Investment Account to my Personal Checking Account.

Quicken uses the Accounts as the category for the transfers in each of the account. This effectively moves the cash from one account to the other.

However, I want to be able to show these transfers in a monthly transaction report as Cash In so I can effectively view a report that shows me all my Cash In, Income, less expenses to show Net Cash Surplus or Deficit. Basically, a P&L that includes the Cash In transfers.

I am wondering what the best way to do this in Quicken Classic Home & Business is?

I am looking forward to learning my options

splasher

Seems to me that you are wanting a cash flow report. Searching on this forum for cash flow report will find several threads on that topic which the asker considered an answer.

KSES

I appreciate the reply Splasher. What I am looking for isn't as simple as just a cash flow report.

I am looking to understand how I an apply a category(s) to a cash transfer coming from my investment account to my personal checking account. Not all the cash that is transferred are the same so I need to be able to split them either with categories or another way.

volvogirl

a transfer is not income. You can use Tags to indicate what it is for. Is it something like a retirement distribution or a IRA RMD etc? There may be other ways to enter it.

Jim_Harman

Or you can customize the Banking Transaction report to include your spending accounts but not the investing account. Then on the Advanced customization tab, set Transfers to Exclude Internal.

splasher

Bottom line to everything that has been written, in Quicken for Windows, a transaction can either have a category or it is a transfer, but it can not be/have both.

Ps56k2

https://community.quicken.com/discussion/comment/20399359#Comment_20399359

As mentioned - can't have both in the Windows version…

I have a special situation where I am also transferring from an Investment account to a Checking account.
I could handle it as a [Transfer] - but instead, I setup TWO specific categories - one for XX Withdraw and one for YY Deposit -
Quicken always asks me if this is a Transfer transaction, since they match - and I reply NO -
and just have the 2 manually created categories applied.

Bob_L

Try using a cash flow report with internal transfers excluded. Then, on the category tab, keep scrolling down past expenses to the account section. Then select ONLY the investment account that you want to see the transfers from.

Create a tag called something like MyCashFlows and use it to assign to transactions you want included. When you run the cash flow report exclude all tags except MyCashFlows.

HTH

KSES

Thank you all for your replies. I am grateful.

I am wondering what the definitions of or where I can best find the the definitions of:

1. Self-Transfer
2. Internal Transfer

KSES

Also, I have been using Q4Windows since 2004. I have realized what while contacting Quicken technical support and forums like this can be helpful, I really need advanced consultation to transition my data and reporting for it to the next level.

I am wondering if anyone can suggest best resources that I as a licensed accountant can use to best utilize Q4Windows software?

Also, are there consultants for hire anywhere? How do I find them?

Sincerely,

Kurt

Bob_L

I suggest you start a new thread with that queston regarding getting more help.

FWIW my recollection is that over the years the definitions have morphed/changed. That is, internal transfers orginally meant transfers within the same account. Then they added "self transfers" to reflet just that AND started using internal transfrs to mean transfers between the accounts included in the customize report dialog. At least that is my understanding; hopefully others can provided more context/details..

Jim_Harman

@Bob_L Is correct. Self transfers are transactions like an account's initial balance and balance adjustments.

Internal transfers are transfers between accounts that are included in the report, for example a credit card payment when both the checking and credit card accounts are included in the report.