Recording a Bank Transaction Not As An Expense In Quicken

Paddy
Paddy Member ✭✭✭
edited November 2023 in Budgeting and Planning Tools (Windows)

I track monthly expenses in Quicken for retirement planning purposes but one time outlays are tracked in a different way. When I receive this one time transaction, is there a way to capture it so it doesn't show up in my monthly expenditures under the Spending Tab?

Best Answers

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Answer ✓

    Why is it not an expense? In Accounting, there are only Income, Expense and Transfer transactions.

    There are no "Phantom" transactions.

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

  • volvogirl
    volvogirl Quicken Windows Other SuperUser ✭✭✭✭✭
    Answer ✓

    You could transfer it to another account you set up for it. Can you give an example? What are you categorizing it to? If you run a report don't include that category.

    I'm staying on Quicken 2013 Premier for Windows.

  • bmciance
    bmciance Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited October 2023 Answer ✓

    It really depends on the "one time" transaction. For example, if it is to buy a car then you should create an asset account for the car and use that as the "category" of the transaction.

    On the other hand, if it is just a "rare" expense I would say it still belongs in the Spending Tab since you did spend it.

    Quicken Windows user since 1993.

Answers

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Answer ✓

    Why is it not an expense? In Accounting, there are only Income, Expense and Transfer transactions.

    There are no "Phantom" transactions.

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

  • volvogirl
    volvogirl Quicken Windows Other SuperUser ✭✭✭✭✭
    Answer ✓

    You could transfer it to another account you set up for it. Can you give an example? What are you categorizing it to? If you run a report don't include that category.

    I'm staying on Quicken 2013 Premier for Windows.

  • bmciance
    bmciance Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited October 2023 Answer ✓

    It really depends on the "one time" transaction. For example, if it is to buy a car then you should create an asset account for the car and use that as the "category" of the transaction.

    On the other hand, if it is just a "rare" expense I would say it still belongs in the Spending Tab since you did spend it.

    Quicken Windows user since 1993.

  • Paddy
    Paddy Member ✭✭✭

    Okay thanks!

This discussion has been closed.

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