Saving Goals and transfers to specific accounts

IgnacioRG

Hi, It would be great if we could use SAVING GOALS, to generate a transaction, between the SAVING/CHECKS ACCOUNT and a specific account (created for a specific saving purpuse); not only allocating the money in a SAVINGS SUB-ACCOUNT within the same CHECKS account.

This would be usefull, as I dont save within the same account. I use other financial instruments that generate positive interest withing my savings. And I allocate a specific account for each goal.

I hope Ive made myself clear.

Regads.

RobWilk

The only issue I have with this is - as designed, a Savings goal can be associated with many accounts, and who knows what account it would choose for the transfer transaction (unless, of course, it prompted you at time of said transfer).

DannyB

@IgnacioRG

I have to admit, I'm not sure I understand what you are asking for here. Maybe you can give some further clarification with an example of how what you are requesting would work? Right now, you can designate which account the funds for a given SG are held in and that account does not have to be your checking account as @RobWilk points out.

For example, this is what I do:

• I have three separate high yield savings accounts and one checking account.
• I have automatic transfers set up to transfer a set amount into each of these saving accounts from my checking account with my bank.
• In Quicken Simplifi, I have three Savings Goals associated with these accounts. The "association" is due to designating which account the SG funds are held in when I make a contribution to each SG.
• When the transfer is completed by the bank and the transfer transactions are downloaded into QS, I make a corresponding contribution to the appropriate SG equal to the amount of the transfer plus whatever interest has been paid into the saving account.
• Once done the balance of the Savings account and the amount in the SG will be equal with an Available Balance of $0.00.

"Surprise & Misce[llaneous]" is one of my HYS accounts at my bank

Note that the account balance and the SG balance are equal due to having completed the auto deposit a week or so ago and having made the contribution to the SG using this account as the source of the SG funds.

Are you asking for some kind of feature in QS that will "automate" this process?

Are you asking for a feature that will allow you to generate the actual transfer from your checking account to your savings account from within QS?

Here is a list of Savings Goal feature requests that you may find interesting, one or more of which may be what you are asking for. You can check these out and add your vote to any you would like to see implemented:

https://community.simplifimoney.com/discussion/10101/savings-goals-enhancements-survey-update-and-top-10-ideas

Coach Kristina

Hello @IgnacioRG,

To clarify, are you asking for the ability to have a contribution to a Savings Goal generate a transfer between two accounts in your Quicken Simplifi (documentation only transfer, no actually funds shifting between accounts in reality)?

I look forward to your response!