Transferring Funds between Accounts within Quicken

nicholsn
nicholsn Member
When transferring within Quicken between accounts, the amount I transfer as a payment shows up in the destination account as a negative and the balance in the receiving account is showing this and all previous transfers as negative (red) whereas the receiving account balance should be increasing (Black). IE - from checking to savings.

Best Answer

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Answer ✓
    OK, using your checking/Savings example (a credit card, or any other liability, works differently), you should have
    • In your checking account, a BLACK number in the Balance column
    • The amount to be transferred in that Payment column
    • The category field should be the name of your Savings account enclosed in square brackets (e.g., [Savings])
    • The value in the checking account grows smaller (closer to $0)
    Meanwhile,
    • In your Savings account, the balance column should normally be BLACK, unless you're transferring funds to cover a possible overdraft (RED number in the balance column
    • The amount that was transferred (received in Savings) would be in the Deposit column
    • The category field should be the name of your checking account in square brackets.
    • The value in the savings account grows larger.
    Is all of the above true in your accounts?  If not so, what's different?

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Answer ✓
    OK, using your checking/Savings example (a credit card, or any other liability, works differently), you should have
    • In your checking account, a BLACK number in the Balance column
    • The amount to be transferred in that Payment column
    • The category field should be the name of your Savings account enclosed in square brackets (e.g., [Savings])
    • The value in the checking account grows smaller (closer to $0)
    Meanwhile,
    • In your Savings account, the balance column should normally be BLACK, unless you're transferring funds to cover a possible overdraft (RED number in the balance column
    • The amount that was transferred (received in Savings) would be in the Deposit column
    • The category field should be the name of your checking account in square brackets.
    • The value in the savings account grows larger.
    Is all of the above true in your accounts?  If not so, what's different?

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Carp
    Carp Member
    Very helpful. Thanks
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