QBP: Transfers from business to personal accounts should show as Income in Spending Plan
There should be a simpler way for transfers from business to personal accounts to show as Income in the Spending Plan.
Right now, QBP will automatically link the transfer between the two accounts, and if you select to unhide it in the Spending Plan on the personal side, it shows up in the Bills section instead of the Income section. Why?
It seems the only way to get a transfer to your personal account to show as Income in the Spending Plan is to create a new personal income category called "Owner's Draw" and then recategorize the personal side of the transfer as this Owner's Draw and the business side of the transfer as an external transfer, breaking the automatic link QBP applies to the two sides of the transfer.
This seems like a convoluted way to get QBP to show a transfer as Income in the Spending Plan.
Could there maybe be a simpler way to tell QBP to put the transfer into the Income section instead of the Bills section without having to go through all the custom category setup process?
Comments
-
There have been previous threads about this issue, but no real solution.
I also want a transfer (from retirement savings) to show up as income, and I have had to adopt the procedure you describe of breaking the transfer link and dealing with the transfer as two completely separate transactions.
To get around this limitation, I suggested that Spending Plan include a Transfers section (between Income and Bills) where transfers could show up (if not excluded). That would at least display a positive figure that isn't hidden in the Bill section. That suggestion is described here:
DryHeat
-Quicken Classic (1990-2020), CountAbout (2021-2024), Simplifi (2025-…)1 -
That's an interesting idea to just have a new bucket in the Spending Plan for transfers. That could definitely work too. I hope the QBP team takes a look at this one day and implements something because transferring from business to personal accounts is a super common thing for small business owners to do on a regular basis. The Owner's Draw method seems kinda hacky.
0
