Flagging Transactions in Quicken Simplifi

Quick Review

• What: Mark transactions with colored flags for follow-up

• Why: Identify transactions needing review or special attention

• How: Mobile: Swipe right or tap Set flag | Web: Enable flag column

• Note: Five different flag colors available for organization

Overview

Quicken's flag feature lets you mark transactions for later review. Whether checking an unfamiliar charge or marking receipts to verify, flags provide visual reminders in your transaction list. With five different colors available, you can create your own system for different types of follow-up.

Ashley uses flags to mark transactions needing receipts for tax purposes. The visual flags stand out when scrolling through hundreds of transactions, making month-end receipt matching much easier.

Adding Flags

On Mobile

Method 1: Slide any transaction to the right in the transaction list

Method 2:

1. Tap a transaction to view it individually

2. Scroll down and tap Set flag

On Web

1. Click the gear at the top right of the transaction list

2. Ensure Flag option is checked

3. Flag column appears on the left side of the list

4. Click inside the flag column on any transaction to add a flag

Removing Flags

Follow the same steps as adding flags, but select None instead of a color.

Five Flag Colors

While Quicken doesn't assign specific meanings to the colors, you can develop your own system. The five colors let you categorize different types of follow-up needs.

Ashley's Flag System

Ashley developed a simple color-coding system:

• First color: Needs receipt

• Second color: Question for accountant

• Third color: Possible duplicate

• Fourth color: Waiting for refund

• Fifth color: Personal (not business)

This system evolved naturally based on their most common transaction issues.

Practical Uses for Flags

Unfamiliar transactions: Mark to investigate with bank

Receipt collection: Flag purchases needing documentation

Tax items: Identify deductions for year-end

Disputes: Track transactions being contested

Temporary markers: Use while reconciling accounts

Tips for Effective Flagging

1. Be consistent: Use the same color for the same purpose

2. Act on flags: Review and clear flags regularly

3. Don't overuse: Flag only what truly needs attention

4. Clear completed: Remove flags after handling the issue

The Bottom Line

Transaction flags in Quicken provide a simple visual system for marking items needing attention. With five colors available, you can create an organization method that matches your financial workflow. The key is consistency—use flags the same way each time for maximum effectiveness.

Hint: Create a "flag legend" note in your phone listing what each color means in your system. Ashley keeps this handy during transaction review to ensure consistent flagging. They also set a monthly reminder to review all flagged transactions, preventing important items from being forgotten. Flags are only useful if you act on them.