Add Ability to Include or Exclude Transfers on Budgets in Quicken for Mac

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Comments

  • Donald MooreDonald Moore Member
    edited January 6
    jacobs said:

    This feature, when implemented, must be flexible enough to enable/disable transfer from the budget on an account-by-account basis. (Since being able to select accounts for budgets is a feature request Quicken has not yet implemented, I suspect it's why including/'excluding transfers has also not yet been implemented.) Here's why: a transfer to pay your credit card bill should NOT be included int he budget, because you already have all the individual expense transactions in your credit account reflected in the budget. But a transfer to pay down a loan SHOULD be included i your budget, since it's money coming out of your cash flow every month. And you might want the option to include transfers to a retirement or non-retirement savings account in your budget, too, if you set a plan for savings and want to make sure you stick to it. So making ALL transfers show up in the budget won't work; it has to be implemented so it can be done on an account-by-account basis.

    I hear what you are saying.  I went to Quicken Mac, kicking and screaming, only after I got tired of technical issues running a virtual Windows system on my MAC.  The ONLY reason I did this was to keep running Quicken Deluxe for Windows.  At times I really miss my QDW that I ran for many, many years.  Losing the ability for the budget to include/exclude transfers was a major reason I took so long.  

    There were a lot of other things I liked better in QDW than QM.  I acknowledge that there have been some nice improvements in QM and that I have also been able to adjust to the major differences between how QDW vs QM displays information.  However, I really miss this feature!
  • jacobsjacobs SuperUser
    edited January 20
    jacobs said:

    This feature, when implemented, must be flexible enough to enable/disable transfer from the budget on an account-by-account basis. (Since being able to select accounts for budgets is a feature request Quicken has not yet implemented, I suspect it's why including/'excluding transfers has also not yet been implemented.) Here's why: a transfer to pay your credit card bill should NOT be included int he budget, because you already have all the individual expense transactions in your credit account reflected in the budget. But a transfer to pay down a loan SHOULD be included i your budget, since it's money coming out of your cash flow every month. And you might want the option to include transfers to a retirement or non-retirement savings account in your budget, too, if you set a plan for savings and want to make sure you stick to it. So making ALL transfers show up in the budget won't work; it has to be implemented so it can be done on an account-by-account basis.

    Donald, hopefully you won't have to wait too much longer for this functionality to be added to Quicken Mac; I certainly expect it sometime in 2019.
    QMac 2007 & QMac Subscription • Quicken user since 1993
  • JimJim Member
    edited January 5
    Quicken Support: Any updates or comments? I’d sure appreciate some information before I spend multiple days painfully implementing a Band-Aid solution to my finances in order to track transfers within my budget...
  • JimJim Member
    edited January 5
    Frustrated that this is still a Windows-version only feature. Budget transfers between accounts...



    https://www.quicken.com/support/how-d...
  • Norman VaughnNorman Vaughn Member
    edited January 5
    Jim said:

    One idea for including Transfers on the Budget tab: Simply use Excel-style, classic conditional formatting rules. Allow users to create custom entries for the Budget. Name: "Savings Transfers", Accounts from (Select all that apply): "BoA Checking", Accounts to (Select all that apply): "BoA Family Savings", Additional Filters: "Tag = " or "Payee Includes = ", etc., etc. 

    Thanks, Jim. I get the idea of setting up a "transfer to" category and then sub-categories for the various accounts I want to budget for, and then recording the transaction in Quicken showing the transfer as an expense to that category instead of an actual transfer. That way it will show up on the budget reports and can be budgeted for.

    What I still don't understand is how you accomplish is the actual transfer of funds into the target account?  When you assign it to the phantom "transfer to" category, the amount virtually disappears. 
  • GMGM Member
    edited January 14
    I have just bought this product literally this weekend... this was the first thing I wanted to do with it. It is fundamental.
  • GMGM Member
    edited January 14
    First thing I wanted to do in the software. Disappointed.
  • Chris MeadChris Mead Member
    edited January 20
    All,

    I agree  - was about to ask the question before I searched for the thread.  I thought I was doing something wrong in setting up a liability (loan) and using transfers to pay it down.  When in the budget I calculate the income verses expense and see the gap I naturally want to see a "budget" for paying down the loan.  This is maybe one of the most important reasons to create a financial planning tool.  For now I suppose I must create a new expense category that won't see any actuals - or I have to reclassify the loans as what - negative expenses?  I don't see that as possible.

    So yes, this issue has been out for years.  Funny, my company can develop and deploy level A commercial and military airplane software quicker than Quicken can address this issue.  

    Question though - does the Windows version also have this gap?

    Chris
  • Steven KisorSteven Kisor Member
    edited January 20
    jacobs said:

    This feature, when implemented, must be flexible enough to enable/disable transfer from the budget on an account-by-account basis. (Since being able to select accounts for budgets is a feature request Quicken has not yet implemented, I suspect it's why including/'excluding transfers has also not yet been implemented.) Here's why: a transfer to pay your credit card bill should NOT be included int he budget, because you already have all the individual expense transactions in your credit account reflected in the budget. But a transfer to pay down a loan SHOULD be included i your budget, since it's money coming out of your cash flow every month. And you might want the option to include transfers to a retirement or non-retirement savings account in your budget, too, if you set a plan for savings and want to make sure you stick to it. So making ALL transfers show up in the budget won't work; it has to be implemented so it can be done on an account-by-account basis.

    I just found this thread, after unsuccessfully trying to budget my mortgage payment transfers.  I just purchased QM 2019 in hopes that this issue was resolved.  Disappointingly, it is not.  
     So I've been flustered as to why I cannot get Quicken for Mac to do this. For several months, I thought it was just me.  I'm glad I found this thread, to realize it's Quicken's oversight.
  • jacobsjacobs SuperUser
    edited January 20
    jacobs said:

    This feature, when implemented, must be flexible enough to enable/disable transfer from the budget on an account-by-account basis. (Since being able to select accounts for budgets is a feature request Quicken has not yet implemented, I suspect it's why including/'excluding transfers has also not yet been implemented.) Here's why: a transfer to pay your credit card bill should NOT be included int he budget, because you already have all the individual expense transactions in your credit account reflected in the budget. But a transfer to pay down a loan SHOULD be included i your budget, since it's money coming out of your cash flow every month. And you might want the option to include transfers to a retirement or non-retirement savings account in your budget, too, if you set a plan for savings and want to make sure you stick to it. So making ALL transfers show up in the budget won't work; it has to be implemented so it can be done on an account-by-account basis.

    Steven, keep your fingers crossed that relief from this problem will be forthcoming in one of the 2019 updates to the program.
    QMac 2007 & QMac Subscription • Quicken user since 1993
  • I was trying to be good and get a better handle on budgets, only to be thwarted by this missing need. 

    I can get around this problem a little by creating a report and excluding accounts on the report. Why I can't exclude them on a budget is a strange omission.
  • I don't understand why it's so difficult for Quicken to just have a selection box for the accounts you want to include in the budget?

    They do this for the Calendar...I can Customize and pick and choose which accounts I want to include in the calendar.

    I can do the same in New Reports by selecting which reports and categories I want to include/exclude.  

    Why, oh why, can't I just do this for Budgets?  This can NOT possibly take five years and counting to develop this.
    Quicken Windows H&B 2017 Quicken Mac 2017
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