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 in 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 or expense. You will find a Transfer category in Quicken's category list.