Transfer cash into (or out of) an account for Quicken Classic

Question

I continue to have an issue dealing with cash in my investment accounts that are not placed in a money market account. For example, when I try to transfer this cash to another account, I must name the security. I've tried using "cash" or "$Cash" but that doesn't seem to work. After looking for help on the Web I see there is a function called "Transfer cash into (or out of) an account". Is this function only available in the Windows version as I can't seem to find it on the Mac Classic version.

If there isn't such a function on Mac, what is the best way to transfer cash to another investment account?

Jay Zenitsky · Answer

Thanks so much. Apparently, I just kept thinking that I had to use the transfer dropdown type instead of just typing out the transfer in the type/category field.

Jon · Answer

If you're trying to enter "Transfer Shares" into the Type column then that's why you're having difficulty. @jacobs's post shows the right way to move uninvested cash between accounts.

I just use "Transfer" for the Payee. I can see where the money is going to or from in the Transfer or Category columns, and I don't want to have a separate pair of "Transfer" payees for each account.

jacobs · Answer

I think you're trying to do the transfer incorrectly. In an investment account, you need a transaction of Type=Payment/Deposit. In that transaction you put the name of the account you're transferring to into/out of in either the Transfer field or into the Category field, with the specific syntax of "Transfer:[account name]". A Payment/Deposit transaction is just like a transaction in a banking account, and there is no security involved. In the Security/Payee field, you're entering the name of a Payee, not a security. Here's an example:

Here, I've created a Payee name called "Transfer to Schwab"; it could be anything you want. In the Category field, I've specified this is a transfer from an account called "Vanguard Savings". And this one is a transfer of funds into the account I'm in, because it shows a Cash In amount; transferring to another account would look the same, except there would be a Cash Out amount.