I'm new to QO, so I may be missing something. But, I've got my checking account, mortgage account and CC account all on QO. I have used Transferout/transferin as suggested when paying from the checking to one of the other accounts. However, transerout does not show up as on option on the budget account dropdown. How do I budget these transfers to other accounts if I cannot select transferout?
You have to create a category for each of these accounts. For example I have a category for "Discover Card" that I use instead of using the transfer out.
The only drawback to doing it this was is you have to un-check the accounts that you classify this way so that their transactions don't show up in trends.
For example...under accounts I have checking, savings, discover card. Only checking is checked to show up in my trends. This means that charges to my discover card do not show up as expenses in trends until I make a payment and then they only show up as "discover card".
For me this is OK because discover has an expense tracking feature similar to quicken online and I only use it for major purchases. If you use your credit card for monthly expenses the only way to track it is to keep it in trends and use the transfer out feature so as not to double count the expenses (once in the credit card statement and once when you pay the statement off).
This is by design. Say you buy $100 worth of clothing with your credit card. Then you assign the category "clothing" to this purchase when it appears in Quicken online. When you pay your credit card bill, you want the amount to be ignored for budgeting purposes, and this is why there is "transfer out."
If you set up a "credit card payment" category, in addition to a "clothing" category to reflect this expense in your budget, it would look like you spent the same money twice. Once for "clothing" and once for "credit card payment."
I agree that the transfer in/out categories really should not be budgeted for credit card payments since the individual transactions is what should appear in the trends and you would be double counting the expense. Yodlee and MINT in a similar manner. What is nice with those tools is that the user can create a number of sub accounts under transfer to reflect the type of transfers that are occurring. I would love QO to provide the same service. This is true also for investments.
