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In most of my Quicken account ledgers, I notice that I can categorize transactions by specifying "Next check number", "ATM", "Deposit", etc:

Available Quicken transaction types

What is the difference between an "EFT" and a "TXFR" transaction type?

How does Quicken use these values?

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  • I think EFT stands for "Electronic Funds Transfer", hence the questions...
    – Jeromy French
    Jul 12, 2013 at 21:16

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TXFR is typically used for transfers between your own accounts. When you choose that transaction type, then you should notice that it limits your category choices to just your accounts.

EFT is for "electronic funds transfer" as your update suggests. This is for electronic payments, for example if you have a utility bill automatically deducted from your account.

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