What 'Category' do I use for "Opening Balance"? Or do I leave it blank?

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livegrace
livegrace Member ✭✭
in New to Quicken/Getting Started (Windows)
Auto Update from bank shows it as a transfer back into same account.
Is that correct? do I do that for accounts I add manually?

Best Answer

  • jrich75
    jrich75 Member ✭✭✭✭
    Answer ✓
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    Typically, the name of the account in brackets.  In essence it is a cash transfer back into the account being opened.

    Quicken user since 1995
    Win11 Deluxe Subscription thru 2024

Answers

  • jrich75
    jrich75 Member ✭✭✭✭
    Answer ✓
    Options
    Typically, the name of the account in brackets.  In essence it is a cash transfer back into the account being opened.

    Quicken user since 1995
    Win11 Deluxe Subscription thru 2024

  • Bob_L
    Bob_L SuperUser ✭✭✭✭✭
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    Yes that is correct. A transfer back to itself is a way of entering a transaction without using cash, and it is therefore how you create opening balances.

    Quicken Business & Personal Subscription, Windows 11 Home

  • livegrace
    livegrace Member ✭✭
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    Thank you so very much. I search HELP high and low with no success...
    I so appreciate the assist !
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