Can I schedule a future transfer between two direct connect accounts (Savings to Checking)?
djbenedetti
Member ✭✭
I get my paycheck deposited into my savings account. I transfer amounts for bills to my checking slightly different amounts every time twice a month. I don't see a way to schedule a transfer to have regular income in the future. I was looking at the bills & income -- projected balance (thank you @John_in_NC ) for my checking account and it's way off because my regular deposits are in my savings account. I guess I can schedule income and then skip the instance and do a transfer to fudge numbers to work out.
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Best Answers
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I do the same-have my paycheck directly deposited into Savings, and have a monthly transfer over to checking to cover that months bills. The amount transferred can vary.
RickO covered how to make transfers via Direct Connect if your bank supports that.
But, I am a bit confused by your underlying question and possible need to enter a transaction to "fudge" numbers. (You shouldn't have to.) The transactions in Quicken should represent real world transactions.
By "projected balance being way off," are you referring to the cash flow graph at the top of the Projected Balances view?
Tip: don't get hung up with the "Bills" and "Income" buttons nomenclature-they are simply filtering out the exact same transactions in the Projected Balances based in being cash inflow/outflow. They simply present a different view where you can set up eBills if desired.5 -
Thanks for the update.
That graph is useful, but it takes some getting used to to figure out. The more scheduled transactions you have, the more accurate it is.
The important part is to notice if it is trending upwards (good) or downwards (not so good)5
Answers
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Both accounts must be at the same bank set up for Direct Connect, and the bank must support Intra-bank funds transfer. To check the latter, open the account settings (menu Accounts > Settings...) and look for the green dot:
If these criteria are met, you can create a scheduled transaction for it. But the transfer will never take place automatically. You must still mark the transaction as paid each month and then connect to the bank for it to be transmitted.Quicken Mac Subscription; Quicken Mac user since the early 90s0 -
I do the same-have my paycheck directly deposited into Savings, and have a monthly transfer over to checking to cover that months bills. The amount transferred can vary.
RickO covered how to make transfers via Direct Connect if your bank supports that.
But, I am a bit confused by your underlying question and possible need to enter a transaction to "fudge" numbers. (You shouldn't have to.) The transactions in Quicken should represent real world transactions.
By "projected balance being way off," are you referring to the cash flow graph at the top of the Projected Balances view?
Tip: don't get hung up with the "Bills" and "Income" buttons nomenclature-they are simply filtering out the exact same transactions in the Projected Balances based in being cash inflow/outflow. They simply present a different view where you can set up eBills if desired.5 -
@RickO Thanks, Yes, the green light is on. I knew I was configured for it. I Guess I set up as income and choose account when making the transaction. Just new to Q still getting the feel for it. Thanks.0
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@John_in_NC Thanks, yes I was getting hung up on the graph. Just trying to use it for my benefit and show a near true representation of what will happen. I figured that part of my problem was that it was including statement value of a CC I had rather that a lower payment I will make on that. The scheduled transfer did work so I appreciate the feedback from yourself and @RickO . The "fudge" was only if I couldn't get the transfer scheduled so not needed now.
The CC payment would be nice if it didn't default to the ebill value so I can stay in the GREENon the graph. It seems that when setting up the scheduled ebill it only takes the estimated value for the first one then resets to ebill balance.0 -
Thanks for the update.
That graph is useful, but it takes some getting used to to figure out. The more scheduled transactions you have, the more accurate it is.
The important part is to notice if it is trending upwards (good) or downwards (not so good)5
This discussion has been closed.