What is the best way of handling checking transfers to your credit cards?

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When info is downloaded into Quicken from your checking account and credit card windows, in the checking account, it lists credit card autopay in the payee window and the bank name in the category window. It does delete the sum from the bank balance, but tells you that you are depositing it back into the same account.

Then, in the credit card account it lists the credit card in payee window and the credit card again in the category window. It does credit the card.

However, that creates a large uncategorized number in the profit/loss statement as the expense is listed in the credit card and again when the checking pays the credit card. Actually, the money sent to the credit card is merely a transfer of one's own money, and it is not an expense till the credit card lists it as an expense.

It does not seem to work in quicken, no matter how you do it.

Answers

  • Quicken Anja
    Quicken Anja Moderator mod
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    Hello @Mike Maliner,

    First, to clarify— you posted in a Mobile category; can you confirm whether this issue is happening in the Quicken Mobile app, or in the Quicken Classic for Windows or Mac Desktop program? Or are you using Quicken Simplifi?

    Check back and let us know! Thank you.

    -Quicken Anja
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  • Ps56k2
    Ps56k2 Alumni ✭✭✭✭
    edited June 7
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    yeah - @Mike Maliner - help us understand which product screens you are looking at … so we don't have to test them all -

  • Quicken Anja
    Quicken Anja Moderator mod
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    Hello @Mike Maliner,

    We haven't heard back from you in a while. Do you still need assistance?

    Thank you!

    -Quicken Anja
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  • Quicken Anja
    Quicken Anja Moderator mod
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    Hello again,

    Due to the lack of response, I went ahead and closed this post.

    If you still require assistance, please feel free to start a new post.

    Thank you!

    -Quicken Anja
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This discussion has been closed.