How to categorize external bank account verification micro deposits?

gregoh
gregoh Member
edited December 2023 in Managing Your Transactions

When adding an external bank to current bank account, usually bank send 2 micro deposits, and the withdraw them, it shows up in transaction history, how do I categorize there, so it does not treat it as income or expense?

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Best Answer

  • Flopbot
    Flopbot Superuser, Beta Tester ✭✭✭✭✭
    Answer ✓

    @gregoh ,

    For the Payee, or the name of the bank. Then just use the same Category for both the + side and the - side and everything will balance out to zero. Unless you have one of my banks which apparently only does the + side and never took the money back out!!!

    Chris
    Spreadsheet user since forever.
    Quicken Desktop user since 2014.
    Quicken Simplifi user since 2021.

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