Can I move one line of a split transaction to another account?

Question

I am using Quicken Classic for Windows. I have two accounts, one for tracking income and expenses, one for tracking liabilities. My bank transactions download into my income and expense account, and I moveliability transactions to the liability account.

I have a transaction totaling 76.05

65 is liability

11.05 is expense

I have split the transaction into those amounts and I am trying to figure out if I can move only the 65 to the liability account. So far, I can only move the entire 76.05 transaction. Is it possible to move individual lines of a split transaction to different account? If not, has anyone found a solution for this?

Chris_QPW · Answer

I will take @Lynn FH at her word and just answer no you can't do that automatically.  You would have to delete it out of the split and then make an entry in the other account.

volvogirl · Answer

I don't understand your setup…….."two accounts, one for tracking income and expenses, one for tracking liabilities"????  I think you mean you have separate data files instead of "accounts"?  Because you wouldn't have one account for income and expenses, you would have several accounts and categories, like a Checking Account, a Savings Account, an Income Category  and many Expense Categories.

FILES - Your data is kept in a separate data FILE (and not in the program).   In the data File you have all your accounts.  You can have more than one File like a  separate file for your parents or children or a club. Recent Files opened should be listed at the bottom of the FILE menu item. Your data file ends in .qdf and should be in your Documents (or Library) then in a Quicken sub Folder.  Or you can search your computer for all files ending in .qdf to find them.  Go to FILE - NEW QUICKEN FILE  to setup another data file. When you do a backup it only backs up the file currently open.  You get the whole data file and all the accounts in that one file.

ACCOUNTS - You can have many accounts in a File like a checking account, savings, credit card, asset, investment. Accounts are listed down the side in the Account Bar. You can do Ctrl+A or go to TOOLS - ACCOUNT LIST to bring up the Account listing.  You do not backup Accounts separately.

Tom Young · Answer

"I have a transaction totaling 76.05

65 is liability

11.05 is expense"

Well, lets see here.  Assuming "76.05" is an amount that you've entered into the first account you've mentioned we will assume that this is a checking account and the 76.05 was entered in either the "Payment" column (a DEBIT) or the "Deposit" column (a CREDIT).  If the 76.05 was entered into the "Payment" column then:

* "65 is a liability"  The creation of a "liability" in an account - meaning "money you owe" or, maybe "income I've received but can't yet recognize", or something, is a CREDIT entry on your balance sheet.  If you have an Account in Quicken that you've created as a liability Account, that INCREASES that Account.
* "11.05 is an expense"  An expense gets entered as a Category.  An expense is normally a DEBIT.

Since DEBITS must equal CREDITS and these are the only 3 amounts mentioned, we don't have a balanced entry, and the ONLY WAY we can get these three items to balance, assuming that the increase in the liability account is proper, is to make the Category a CREDIT.  Basically a form of "negative expense:

The balance sheet looks like this:

The spending report looks like this:

If that "76.05" was actually entered into the "Payment" column then the numbers get reversed.  The liability account goes down, the expense goes up as a "normal" debit.

Unless you've got some other amount that you haven't told us about, that's the only way to get a balanced entry.