split transactions with both a transfer and a spending category

When I want to make a split transaction, including a transfer to another account a second one designating it as a spending category, the other category either creates a negative or positive difference on the third line. That difference remains unresolved. Is there any way to do this differently so that there is no unresolved balance hanging there?

Answers

  • splasher
    splasher SuperUser ✭✭✭✭✭

    I'm confused by your description. You state one of the lines in the split is a transfer to another account with it (in the other account) being a spending category, that can't be. A transfer is neither expense or income in either of the accounts it involves, it is just movement of funds between accounts in Quicken.

    Could you provide screenshots of what you are trying to describe? Both of the split and the transaction in the other account.

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  • Maybe this will answer your question. I transfer $XX from one account to another. But I also want to characterize that amount to satisfy a budget expense, e.g. Gifts, etc. So line one shows the account transfer with $XX and line two shows the same amount designated as Gifts, and line three now shows a negative amount of $XX in red as unresolved. I know that I can simply ignore that since it won't really matter but it just seems messy.

  • UKR
    UKR SuperUser ✭✭✭✭✭

    Unfortunately you can't have a single transaction be both a transfer and a categorized expense.

    If, for example, you are making a gift to a child and you're recording the child's account within your Quicken data file, you would have to break this transaction into two individual transactions:

    1st transaction, in your Checking account: A check or withdrawal transaction, categorized to Gifts
    2nd transaction, in your Child's account: A deposit transaction, categorized to the Child's account name(*)

    You now have a properly categorized Gifts budget item and no unresolved, uncategorized amounts

    (*) You can record a transaction as a transfer to itself, by using the account name enclosed in square brackets, e.g. [Child], to avoid recording an uncategorized transaction. Doing it this way makes the transaction appear as neither income nor expense. Quicken uses this procedure to create Opening Balance transactions in an account register.
    You will get a prompt, asking if that is OK. Respond yes.

  • Chris_QPW
    Chris_QPW Member ✭✭✭✭

    You can do it this way, which is a variation on what you are doing, but in a way that will hide the "mess" part.

    For this I'm in CPC Checking XX0670.

    The third line is basically a balance adjustment ( [The Account You are In] ).

    Doing it in multiple transactions is probably more "proper", but it can be done this way too.

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  • QuickUserPSP
    QuickUserPSP Member, Windows Beta Beta

    @Stephen Lawlis - Building upon what @UKR provided, I think there would be a way to get what you want in one split transaction -

    The split transaction would look like this -

    The split detail looks like this -

    The gift is taken from checking and transferred to savings.

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭

    My mortgage payment contains both a transfer (to the Loan account, to reduce it's balance) and an expense amount (the interest).

    The total amount of the transaction is the sum of the 2 figures.

    If you're getting that Negative amount … then the total amount of the transaction, as shown in the register, is incorrect.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Thanks both to Chris_QPW and QuickUserPSP for their input. That is exactly the way I've been handling it but didn't like the "hanging balance". At least it makes me feel better!

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