a transfer of money to you from a third party, such as direct deposit of your paycheck or payment for services of goods.A transfer of money to a third party to pay a bill or expense.A transfer of money to a friend or relative as a gift.Inappropriate uses of the Transfer category might include:
Credit card payments (there is a special Transfer subcategory just for credit card payments-see also the help topic on credit cards below. Transactions that move money between checking accounts and brokerage accounts. For example, if you added your Checking account to Quicken but did not add your Savings account, using the Transfer category ensures that this transaction is still considered "neutral" (neither income nor expense) in reports and graphs. Transactions that move money between an account you track in Quicken and an account you do not track in Quicken. Assigning a specific account name is not required. Just assign the Transfer category to both the outgoing checking transaction and incoming savings transaction. Transactions that move money between two accounts that you track in Quicken (such as Checking to Savings). Transactions assigned to the Transfer category are excluded from income and expense reports and charts (because it records the movement of money between two accounts that belong to you.)Īssigning the Transfer category (or the Transfer subcategory "Credit Card Payment") does not create or imply a relationship between any other transactions in Quicken, such as transactions in a different account.Īppropriate uses of the Transfer category would include: This special category is considered neither income nor expense. You will find a Transfer category in Quicken's category list. You can use the method that makes the most sense for you or even uses both methods. You can use the special Transfer category to record transfers or you can do a Linked Transfer which actually creates a relationship between two transactions in a separate account. 
Two types of transfers are supported in Quicken As such, these transactions are neither income nor expenses. You did not spend (you still have the cash), and you did not earn income (you have the same net worth you had before the transfer). Suppose you are moving money from checking to savings. As such, transfers are excluded from Spending and Income reports and charts. Quicken considers a transfer to be neither an income nor an expense transaction.
Loan payments from a checking account to a liability account that tracks the balance of the loan. Cash advances from a credit card account to a checking account. A credit card payment (movement of funds from a checking account to a credit account). Movement of funds between a checking account and a brokerage account. Movement of funds between a checking account and a savings account. 
Some examples of transfer transactions include: That is, any transaction that is not income or expense, just the movement of money from one account to another. "Important" cash transactions might include tax-related transactions, transactions that involve receiving or spending large amounts, or any other cash transactions you want to track using your Quicken categories.A transfer is a special transaction used when you are recording a transaction between two accounts you track in Quicken. When you enter an important cash transaction that you'd like to track more specifically, split the transaction and assign a category more specific than Cash Expense to that transaction. When you enter a cash withdrawal for miscellaneous expenses in a Quicken banking account, assign a catch-all category such as Cash Expense to the transaction. Instead, enter cash deposits and withdrawals in your Quicken banking account (checking, savings, or money market) as usual. To track only a few important cash transactions and treat the rest as miscellaneous expenses or income, you don't need to set up a separate cash account.
Entering cash transactions in Quicken bank account
#CAN YOU USE QUICKEN ON A MAC HOW TO#
If you'd like, you can set up a Quicken cash account. Otherwise, read the next section to learn how to track your cash expenditures in a Quicken bank account.
Track petty cash for your small business. Use cash instead of checks or credit cards. Keep detailed records of most or all cash transactions. You need to categorize the income or expenses for only a few cash transactions
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