Learning About Cash Accounts

When to use Quicken cash accounts

You can record cash transactions in two ways: either in your Quicken checking register, or in a separate Quicken cash account. Both methods let you categorize your cash expenses so are they included in reports, and neither method requires that you account for every penny.

Use thus type of account To do this
  • Categorize the income and expenses for only a few cash transactions,
  • Keep detailed records of most or all cash transactions
  • Use cash instead of checks or credit cards
  • Track petty cash for your small business

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.

Entering cash transactions in a Quicken bank account

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 bank account (checking, savings, or money market) as usual.

When you enter a cash withdrawal for miscellaneous expenses in Quicken bank 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 Expenses 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.

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Tip: To find out which version of Quicken you are using, open Quicken go to Help menu and select About Quicken.