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