How to enter a single transaction across multiple accounts
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Dirkus
Member ✭
I am trying to enter a single transaction across multiple accounts and it's not working the way I thought it would so I must be doing something wrong... :/
I am trying to be able to track items bought using gift cards. In the past, if I have (for example) a gift card for $50 and I buy something from that vendor for $52 dollars, I would just enter a transaction for $2 in the appropriate CC account that I used. That doesn't correctly track the amount I have spent for whatever category I used (let's say Groceries), though, as the $50 isn't tracked anywhere.
So, I created a "Gift Card" account in Quicken (as a cash account) and entered the gift cards in there when I received them. I thought I could then just enter a split transaction in the CC account with $50 (as in the above example) for category "[Gift Card]" and the $2 as the remainder. A couple of problems here, though, it still doesn't track the $50 against Groceries and it doesn't calculate the way I thought it might so this is definitely not the way to go.
Any suggestions as to how I can do this will be greatly appreciated! Thanks in advance.
I am trying to be able to track items bought using gift cards. In the past, if I have (for example) a gift card for $50 and I buy something from that vendor for $52 dollars, I would just enter a transaction for $2 in the appropriate CC account that I used. That doesn't correctly track the amount I have spent for whatever category I used (let's say Groceries), though, as the $50 isn't tracked anywhere.
So, I created a "Gift Card" account in Quicken (as a cash account) and entered the gift cards in there when I received them. I thought I could then just enter a split transaction in the CC account with $50 (as in the above example) for category "[Gift Card]" and the $2 as the remainder. A couple of problems here, though, it still doesn't track the $50 against Groceries and it doesn't calculate the way I thought it might so this is definitely not the way to go.
Any suggestions as to how I can do this will be greatly appreciated! Thanks in advance.
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Answers
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If I understand correctly, you had $50 on a gift card and you bought $52 worth of groceries. $50 of the groceries was paid for with the gift card and the remaining $2 was paid for with your credit card.
If that's the case, then I don't think you can do that as a single transaction. You have a $50 charge on your gift card and a $2 charge on your credit card; those are separate transactions in separate accounts, I can't see any way to enter them as a single split transaction. I think your grocery store receipt should show both charges, though, so you should have everything you need to enter both transactions.
Quicken Mac subscription. Quicken user since 1990.
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Jon, thanks for your response. I actually think I figured it out... I was trying to make it more complicated than it needed to be. I just created a new category (ex: "Addl pay method:Gift card") and then entered a split transaction in the CC account for the full amount against "Groceries" and then a line with a negative amount (-$50) against the new category. This will work for what I need.0
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You didn't need a new category. Just make the split line for $50 a transfer to the Gift card Account.
I'm staying on Quicken 2013 Premier for Windows.
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