Balancing Quicken Accounts

Make sure to cross-reference transfers between accounts.

If a credit card is used as the funding source for an online PayPal purchase, find the transaction under the credit card's Quicken sheet. Locate the transaction & set its category to "Transfer:[PAYPAL_ACCOUNT]" where PAYPAL_ACCOUNT is the identifier of the PayPal account in Quicken.

The result is that the funds are deducted from the credit card sheet. A new transaction is created in the PayPal sheet that adds the amount of the transaction to the PayPal sheet. The PayPal sheet retains the original transaction which deducts the amount of the transaction. Now all the sheets accurately reflect the flow of funds.

PayPal transactions have various funding options, e.g. PayPal balance, bank account, credit card. If the funding source for a transaction is the PayPal balance, then the transaction about should be subtracted from the overall PP balance. Otherwise, the PP balance should remain unaffected since the funds are really being taken from either a bank account or credit card.