Overview
When you receive money—such as a paycheck, refund, or reimbursement—it’s important to record it correctly in Simplifi so your Spending Plan and reports stay accurate. Although banks often label these inflows as deposits and Simplifi calls them income transactions, they refer to the same thing.
Before You Begin
Before creating an income (deposit) transaction, it helps to know how Simplifi visually distinguishes Income transactions from expense transactions. This ensures you're working with the correct transaction type.
Income (Deposit) transactions show a plus sign (+) before the amount and appear in green.
Expense transactions appear in black with no plus sign.
These visual cues make it easy to confirm that you're recording the right type of transaction. Here’s what income and expense transactions look like in Simplifi:
Categories also help Quicken Simplifi determine whether a transaction should be treated as income or an expense. When you assign an Income Category, Quicken Simplifi automatically enters the amount as a positive number. Assigning an Expense Category makes the amount negative.
Note: If you choose not to categorize a transaction, just make sure to enter a plus sign (+) before the amount so it’s correctly recorded as an income (deposit).
Add an Income (Deposit) Transaction
Follow these steps to add an income (deposit) transaction:
Hover over the left panel and click Transactions.
Select the account where you want to record the transaction.
Click the + New button in the upper right of your Transaction Activity.
Enter the Payee, Date, and Amount.
Assign an Income Category, and Simplifi will automatically make the amount positive.
If you prefer not to categorize the transaction yet, enter a plus sign (+) before the amount to record it as income (deposit).
Click Create when you're finished.
If you're looking for the steps specific to the mobile app, please see our article on How to Create an Income Transaction on the Mobile App.
If you have any questions or need help managing your income transactions (deposits) in Quicken Simplifi, please don't hesitate to reach out to our support team!