There has been some confusion on how Quicken handles credit card expenses and if they are being ‘double counted.’ There is an quick, easy way to make sure that you don’t see “credit card” show up in your pie chart.
For credit card payments in your checking account (when you are also tracking your credit card) use the category "Transfer Out." For the corresponding transaction in your credit card account use "Transfer in." Quicken Online ignores transactions using these categories when reporting on your spending.
Please let us know if you need more clarification.
Quicken Kathryn
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Credit card expenses--double counted in pie chart Jan 26, 2009 12:31 pm
This post is about: Quicken Rental Property Manager 2009
I have been reading what you've discussed on the double counting, however, if these expenses are being used and tracked for Rental Expenses, how and where (in which account) am I to track these? Are your comments and suggestions specific to Quicken Online?
I'm new to Quicken Online today. Based on the notes above, I re-categorized my CC payments in my checking account as "Transfer Out" and in my CC account as "Transfer In." That alleviated the giant "Credit Card" category.
However, it appears that none of my actual credit card transactions show in the trend summary. I wonder if the green/black font discussion you have here is the culprit.
In my checking account, my transactions are shown in black as negative numbers. In my credit card, transactions are shown in green as positive numbers. Credit card (CC) payments are shown in my credit card account in black as negative.
Since I use my CC for many of my ongoing expenses (dining, gas, etc.) my budget/trend data is incomplete without these transactions, which account for a large part of my budget.
These CC transactions are all categorized, but the amounts do not show up in the trend/chart.
Appreciate your help with getting these transactions included.
Thanks,
NGI
Credit card expenses--double counted in pie chart May 19, 2009 06:38 pm
This post is about: Quicken Online
I have tried doing this, but now when I click the "Overview" tab under my Main checking account, instead of seeing a large pie cut for "Credit Card" it's just relabeled as "Transfer Out". Am I missing something? I thought the whole idea was to eliminate this large pie cut for expenses that were already being tracked in the "Credit Card" pie chart. Am I the only one having this problem? If so, what am I doing wrong?
I have tried doing this, but now when I click the "Overview" tab under my Main checking account, instead of seeing a large pie cut for "Credit Card" it's just relabeled as "Transfer Out". Am I missing something? I thought the whole idea was to eliminate this large pie cut for expenses that were already being tracked in the "Credit Card" pie chart. Am I the only one having this problem? If so, what am I doing wrong?
You're posting in the wrong forums.
These forums are for Quicken Online; a totally separate product from Quicken for Windows, the Quicken desktop product.
My issue with this is that my Transfer Out category works fine (i.e. nothing counted in the Expenses pie chart), but my Transfer In category is being included in the income totals.
When I started using the program, there was an existing Transfer Out Category, but not a Transfer In Category. I had to create one and it does not work properly.
Credit card expenses--double counted in pie chart Jun 22, 2009 06:59 pm
This post is about: Quicken Online
Kathryn -
My credit card charges are being shown as income in the pie charts/trend analysis, rather than as expenses. In the transactions summary tab, they show up in green without the minus ("-") sign that is reflected for checks and cash/check card payments (which are reflected in black).
How do I ensure these credit charges are properly shown as expenses and categorized (Dining, Auto, etc)?
Credit card expenses--double counted in pie chart Oct 05, 2009 06:51 am
This post is about: Quicken Online
I've been having a problem with credit card payments being counted as income (transfer in) while transfer out is not counted as expense. One way to fix this, though a little laborious, is to delete the transfer in transactions. That way my trends are accurate.
I got it to work for me. I was getting VISA in my trends and I couldn't change the category to "Transfer Out".
So, I did an intermediate step. I changed all my VISA payments to "Vacation/Travel" and that seemed to stick. Then I changed all of them to "Transfer Out" and it seemed to stick.
Credit card expenses--double counted in pie chart Nov 23, 2009 03:15 pm
This post is about: Quicken Online
I would like to track how much money I'm spending on credit card bills on cards which are only carrying a balance (which I'm trying to pay down and not using). I want to see how much I'm spending a month just to this goal. How do I do that? Do I need to eliminate these accounts so I no longer have the transfer in/out issue and can view them as an expense? I don't think there is a way to show this transfer in/out as an expense like this, is there?
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