Overview
You may have wondered from time to time how to track your cash in Quicken Simplifi—look no further! Like most things, tracking cash in Quicken Simplifi is super easy.
Creating a manual cash account
The best way to track your cash in Quicken Simplifi is to create a manual Cash account. This can be classified as an Other Banking account, or you can make it a Checking account, it's entirely up to you!
Instructions
On your Dashboard, click on the +Add button in the upper right of the Accounts List.
Select Add Manual Account.
Click the Account Type dropdown and select your preferred Account Type.
Note: There is a Cash account option under the Banking category.Enter an Account Name, Opening Balance, and Date.
Click Continue when finished.
Recording a cash withdrawal
When it comes to withdrawing money from the ATM or bank to have as cash, you can use one of the Transfer options in Quicken Simplifi to categorize the transactions accordingly.
Instructions
From your Dashboard, select the account you are making the withdrawal from.
Click the blue plus (+) button in the upper right of the Transaction Activity.
Set the transaction Status as either Pending or Cleared.
You should set transactions to Pending until they have cleared your bank.
Enter the Payee (for example: ATM or Bank), Amount, and Category. You can also add Splits, Tags, Notes, and Attachments, mark the transaction as Reviewed or Not Reviewed, mark the transaction as Recurring, Flag the transaction, and select to Exclude from Spending Plan and/or Exclude from Reports.
Click Create when done.
From your Dashboard, select your Cash account.
Click the blue plus (+) button in the upper right of the Transaction Activity.
In the Amount field, enter the same amount you entered in the withdrawal transaction, but add a plus (+) in front of it to make it income. Fill out the rest of the fields as desired.
Click Create when done.
Using a 'Transfer' option will keep the transactions neutral, since money is just being moved from one account to another. Please click here for more details on using 'Transfers' in Quicken Simplifi.
Recording cash spent
What do you do when you spend some or all of your cash? Easy! You can create a manual transaction(s) in your Cash account, just as you would a normal banking transaction, to show where and what you spent the money on.
Instructions
From your Dashboard, select the Cash account from the account list.
Click the blue plus (+) button in the upper right of the Transaction Activity.
Set the transaction Status as either Pending or Cleared.
You should set transactions to Pending until they have cleared your bank.
In the Amount field, enter the amount of cash spent. Fill out the rest of the fields as desired.
Click Create when done.
As long as you're properly recording everything, the balance of your Cash account should always stay in line with the actual amount of cash that you're holding.
For more details on adding a manual account to Simplifi, please click here.
For more details on creating a manual transaction in Simplifi, please click here.