cash deposit shows up as negative expense

I took out a 100,000 second mortgage on my house. After fees and points, I got about $95,000 back.

I put it in a vanguard account and did a "deposit" for 95,0000. So now I have 95,000 in this Vanguard account.

When I go to Income/Expense bar chart (Quicken 2008), it shows up as a negative expense The catergory lists "cash" and the amount is negative.

I thought it might show up as income, but I have no clue why it's showing up as an expense.

Is there a way to set it up since it shows up as neither?

Reply to
cmail0925
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If you "transferred" the funds to the brokerage account, it's possible that Quicken's unusual default category selection for that graph only includes one of the "account categories" that make up the transfer. If you click "Options" in the title bar for the graph, you can customize the the categories that appear in the graph.

Reply to
John Pollard

It was a deposit, no transfer involved. I want this account to be shown in income/expense, because I've bought quite a few funds and will probably sell them. I'm trying to figure out how to get it to show up correctly.

Reply to
cmail0925

Well what did you categorize the deposit to then?

Reply to
John Pollard

I was able to fix it by changing it from a deposit, to an "xin" transaction. In the transfer section, I referred to it as being transferred from the same account. Now it doesn't show up as income or expense. Thanks for the suggestions!

Reply to
cmail0925

snipped-for-privacy@gmail.com wrote in news:1190495720.911304.64530 @r29g2000hsg.googlegroups.com:

220 0 article Path: finder4.readnews.com!textspool2.readnews.com!news-out.readnews.com!transit4.readnews.com!news.glorb.com!hwmnpeer01.lga!news.highwinds-media.com!cycny01.gnilink.net!spamkiller.gnilink.net!gnilink.net!trnddc03.POSTED!17c5e48a!not-for-mail Newsgroups: alt.comp.software.financial.quicken Subject: Re: cash deposit shows up as negative expense From: Han References:

Organization: me Message-ID: User-Agent: Xnews/2006.08.24 X-Face: {IZyVyAC[>k~TaXCoTeQjU;W?!"MP0dYNW.5ni+/2;&hT(`wcF'Om2v^}ZTXwGxZU#fG?+uzIc3&[?$8Miwu^i'e_Mk89!yPy9;sLczX,m9,aqHN}a'S&~( I was able to fix it by changing it from a deposit, to an "xin"

Should it not now be a liability? You took out a mortgage, as I understand it. The dollars you received didn't just come from nowhere. As I understand your first post, you committed to repaying some organization a total of $100,000 (plus interest), in exchane for wich you received 95K. You need a good investment to pay that liability back (not that it can't be done).

Reply to
Han

Han, You are correct. I set up a "mortgage" account that is a 100,000 liability and pay down interest and principal every month. I set up a Vanguard Account for 95,000. Outside of the 5,000 in points and fees, I didn't want either of them to show up as income or expense. The mortgage account showed up fine, the problem was with the Vanguard account.

Reply to
cmail0925

snipped-for-privacy@gmail.com wrote in news:1190520772.902101.116830 @r29g2000hsg.googlegroups.com:

I changed Helocs some time ago, both to get rid of that bank, to get a somewhat higher line of credit for emergencies, and a better rate. I started it off by using some of the line of credit to repay the then outstanding mortgage loan (it was both interest and principal at that time). Since I have had to take out more money, but I am in the process of repaying more than the minimum.

In your case, you used the mortgage money to fund a Vanguard account, so you could let Quicken show that: 100K liability, with a split - 95K going to Vanguard, and 5K to whatever fees and interests you payed.

Reply to
Han

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