Savings goals in Quicken represent money held in regular accounts that is set aside for a specific purpose, like a vacation or a new flat screen TV. Money transferred into a savings goal remains in the original account but is hidden so you do not spend it until you want to. You can tell Quicken to show you the hidden savings transfer in an account at any time.
In addition to hiding savings goal amounts in account registers, Quicken creates an asset account for each savings goal. You can see these asset accounts in the property and debt center and on the Quicken Account bar.
Because the money allocated to a savings goal does not really leave the funding account, savings goal transactions do not affect your account reconciliation.
Naming Savings Goals
When you set up a savings goal, you need to know what you want to call the goal. Summer Vacation or Car are two examples. Before you set up a savings goal, take a quick glance at your category list because you cannot give a savings goal the same name as a category.
Savings Goals Amounts and Dates
You need to know the total amount you need to save to meet your personal savings goals, and the target date for by which you want to have saved the total amount.
