Overview
Moving money between your accounts—like sending cash from checking to savings or paying off a credit card—is a common part of managing your finances. In Simplifi, these movements are called Transfers, but there are two types you should know about: Unlinked Transfers and Linked Transfers.
When using a Transfer Category, it's important to remember that there are two sides to a transfer: the initial transaction moving money from one account and a second transaction depositing the money into the other account.
Since money is only being moved between accounts, transfers do not qualify as income or an expense. For example, making a payment to your credit card balance does not change your net worth; your balance in each account changes, but the sum of the accounts remains the same. As such, Quicken Simplifi does not automatically include these transactions in the Spending Plan or Reports by default.
Note: If you want to include transfers to your Spending Plan on the mobile app, see our article on How Transfers Are Handled in the Spending Plan on the Mobile App.
Linked Transfers
A Linked Transfer is a smart feature that connects two related transactions—one showing money leaving an account, and one showing it arriving in another.
Quicken Simplifi will search for and identify transfers between accounts automatically. While we work hard to ensure proper detection of transfers, there may be a time when you'll need to categorize a transaction as a "Transfer" manually.
Tap the Menu (three-line icon).
Select Accounts.
Select the account that contains the transfer transaction.
Locate the transfer transaction and tap on it.
If the Category doesn't reflect the second account involved in the transfer, tap on the Category field to open the menu.
Select the Transfer button at the top.
Choose the account involved in the transfer, and click Update.
If you want to check both sides of the transfer, just click the blue option Go to the other side. It's quick and easy!
Unlinked Transfer
An Unlinked Transfer is a single transaction that’s categorized as a transfer, but it’s not connected to another transaction in a different account.
Quicken Simplifi offers built-in categories like "Credit Card Payment" and "Transfer," which you can assign to any transaction to keep it neutral (neither income nor an expense) without requiring a corresponding linked transaction in another account.
If you're looking for specific steps about using Transfers on the web app, please see our article on How Do Transfers Work?
If you have any questions about using Transfers in Quicken Simplifi, please don't hesitate to contact our support team!