Overview
When using a Transfer category, remember that a transfer has two sides: one transaction moves the money out of one account, and another deposits it into the other account.
Since money is only moved between accounts, transfers are not counted as income or expenses. For example, paying a credit card balance only shifts money between accounts. As a result, Quicken Simplifi does not include transfer transactions in Reports.
Note: To learn how to include Transfers in the Spending Plan, click here.
Managing Linked Transfers
Quicken Simplifi automatically detects transfers between accounts. However, there may be times when you need to manually categorize a transaction as a Transfer.
To categorize a transaction as a Linked Transfer, select the “to” account as the Category. Quicken Simplifi will try to link it to the matching transaction in that account. If no match is found, Simplifi will automatically create the transaction.
Move your cursor over the left panel and click Transactions.
Find the Transfer Transaction.
If the Category doesn’t show the second account in the transfer, click the Category field to open the menu.
Scroll down to Transfer and select the correct account, or type the account name
manually. Once selected, the transaction will link to the matching one. If no matching transaction exists, you’ll be prompted to create one.
When a Linked Transfer is categorized correctly, the Category field will show the corresponding account name. You can also click the blue Go to other side link below the payee to quickly view the matching transaction.
Other "Transfer" Options
Quicken Simplifi also offers other transfer options besides Linked Transfers. For example, there are built-in Credit Card Payment and Transfer categories. You can use these to keep a transaction neutral (not counted as income or an expense) without creating a matching transaction in another account.
If you have questions about using Transfers in Quicken Simplifi, feel free to contact our support team.
To learn how to use Transfers in the Quicken Simplifi mobile app, click here.