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How to Enter an Account Transfer in Quicken 2010

Account transfers occur when you move money from one account, such as your savings account, to another account, such as your checking account. Quicken makes quick work of account transfers, as long as you already have both accounts set up.

Say that you’re working with your checking account and want to record a transfer to your money market account.

1

Expand the Banking section of the Account Bar that appears on the left, and then choose your bank account in the sub-list that appear

The Checking window opens to the right of the list box.

2

Click the Transactions button in the Checking window.

The Transactions tab looks and works like a check register.

3

Enter the transfer date in the Date field

Type the date that you move the money from one account to another.

4

In the Num field, select the Transfer entry from the drop-down list.

Quicken abbreviates transfer as TXFR.

5

In the Description field, enter information about the transfer.

For example, you can enter Birthday to remind you the transfer relates to that check you got from your Aunt Enid on your birthday.

6

Enter the transfer amount in the appropriate field.

Use the Payment field for amounts that you transfer out of an account, and enter amounts that you transfer into an account in the Deposit field.

7

In the Category field (which has a modified name of Xfer Acct), select the other account from the drop-down list.

Quicken uses brackets — [ ] — to identify the Category field entry as an account, and not as an income or expense category.

8

(Optional) Enter a memo description in the Memo field.

You can add more information about the transaction (if you need to). Press Ctrl-2 to toggle between One-Line and Two-Line display mode to display the Memo field.

9

Click the Enter button.

Quicken records the transfer transaction in your register.

Here’s the cool thing about transfer transactions: Quicken automatically records the other half of the transfer for you. To see the other half of a transfer transaction, right-click the transfer transaction and select Go To Matching Transfer from the shortcut menu that appears. Quicken displays the other account in a new register window.

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