Most people would just mark both of the transactions (out of checking, and into savings) with a category called “Transfer” that is of type “Transfer”. I’m a bit more fussy, I have both “Transfer Out” and “Transfer In” categories, both of type “Transfer” which makes it easier for me to tell if I’m missing a transaction on either side of each transfer (see the Linked Transfers template). With both transfers in a transfer category, they won’t show up in most reports or templates, giving you cleaner results for budgeting information.
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