What is the suggested way to categorize automatic transfers to saving account
I have a savings account assigned for auto and camper savings. What is a suggested way to categorize automatic transfers from checking into this account?
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In your version, the Category Summary report lumps all transfers at the end of the report, so categorizing for the report is of limited usefulness. (In QM17+, there are New Reports that do include the transfers in the associated category.)
In budgets, transfers tend to cancel each other out. So again, not very useful to categorize.
For these reasons, just using the generic Transfer category may be just as useful as making up a special category for these transfers.
You may want to visit and VOTE (upper right corner) for the following IDEA post that relate to this issue:
Ability to Include or Exclude Transfers on Reports
Add Ability to Include or Exclude Transfers on Budgets
Prevent transfers from canceling each other out in Budgets
And here's a whole index of other IDEA posts to consider voting for:
https://getsatisfaction.com/quickencommunity/topics/expanded-list-of-categorized-ideas-of-feature-re...
You can create categories/subcategories of your choice and assign them to the transfers.
Example categories could be;
Savings:Auto
Savings:Camper
One would assign these categories to the transfer to Savings.
When you make withdrawal/ from Savings - use the same categories.
I think QM2016 will let you create a customized Category Summary Report to summarize this activity and see the balance for each category. In the customize options, set the date range and select only the Savings account (exclude all other accounts) and for Categories, select the two categories of interest. See if this gets you any meaningful info.
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