Add a spending category to a transfer

Sisyphus1967

I'd like to be able to note the spending categorization for some transfers. This may only apply to me but I track accounts for multiple members of my family and when they make a transfer, it doesn't note the purpose of the transfer as a category. Similarly if I have a loan that I'm paying that doesn't update online, my transaction will record the principal payment as a transfer, rather than categorizing it as the type of payment it was.

Chris_QPW

Never going to happen. Quicken needs to separate out income, expenses, and transfers to do proper accounting. If a transfer had a normal category there would be situations where that transactions would be double counted.

If you want to separate out transactions by family members, I suggest you used tags. If you want to "state the purpose" I suggest you record it in the memo.

Boatnmaniac

I, too, was going to suggest using tags and/or a note in the memo field. If your family members are transferring money to a different account for some kind of expense, then there should also be a separate expense transaction or transactions in that account. Those separate transactions are where the category needs to be applied, not with the transfer transaction.

Regarding the loan: Did you add the loan account as a manual offline account with the loan tool in Add Account? If you set up the loan this way it will create a Loan Reminder which will split the payments category into principal, interest and just about any other related fees that might be applicable to that loan. Then each month (or payment period) you enter the Loan Reminder into the payment account which will automatically adjust the payment amortization schedule for principal, interest, etc….and it will all be properly captured in the various spending reports and in the Budget. When the payment from the bank downloads, it will be or can be matched to the Loan Reminder that has been entered. This process works quite well. (NOTE: It is recommended that you do not connect the loan account to the lender. Connected loans do not work as I described here….they do not have account registers so they have no transactions that can be viewed, edited or linked to the payment account.)