What is the best way to show funds as allocated but keep them in same account

Nov 30, 2007 2 Replies

Trying to teach my wife about not spending money that is spoken for, yet still have the account show a correct amount.



For example a Savings account holds all our extra monies. Including property taxes, gift money, vacation money, etc. Should I create addtl dummy savings accounts within Quicken and have money transfer to the dummy accounts so she sees where it is going? If I do that, the money in reality is still in the savings account, but for the purpose of Quicken view, she sees it as allocated. How do I account for the always incorrect balance in the real savings account, interest. etc?



OR, is there a way to record the money in the one savings account as spoken for but keep it in the one savings account?



Thanks in advance.



robert


Read about 'savings goals' in the Quicken help files. It's a way of 'hiding' money without messing out what is really going on under the covers so that Q and your bank are in sync, but yet you can sort of 'hide' money that's allocated so you see a 'funny balance' (ie: taking into account monies you've allocated) which really doesn't exist!

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