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Type of account | When to use |
Checking | You need to categorize the income or expenses for only a few cash transactions |
Cash | Use cash accounts register to:
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If you'd like, you can set up a Quicken cash account. Otherwise, read the next section to learn how to track your cash expenditures in a Quicken bank account.
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To track only a few important cash transactions and treat the rest as miscellaneous expenses or income, you don't need to set up a separate cash account. Instead, enter cash deposits and withdrawals in your Quicken banking account (checking, savings, or money market) as usual.
When you enter a cash withdrawal for miscellaneous expenses in a Quicken banking account, assign a catch-all category such as Cash Expense to the transaction.
When you enter an important cash transaction that you'd like to track more specifically, split the transaction and assign a category more specific than Cash Expense to that transaction. "Important" cash transactions might include tax-related transactions, transactions that involve receiving or spending large amounts, or any other cash transactions you want to track using your Quicken categories.