I'm using Quicken Deluxe 2014. In an investment account, what's a good way to enter a cash payment amount--an amount paid from the account to my investment advisor? Every kind of transaction seems to want a transfer account.
Cash Payment
Oct 27, 2014
7 Replies
I use "Miscelaneous Expense" for my management fees. Although there's a field for "Transfer Account" there's no need to enter one.
Thanks very much. I had assumed it was necessary.
Just throwing out a thought, but you might wish to call it something like 'Investment Advisory Expense' and link that to a tax-related entry. I presume that such fees are tax-deductible and might deserve such a notation/flagging for income tax reminder purposes.
I would think 'Miscellaneous Expense' might not be so-flagged.
JS.
Thanks for the thought.
"Miscelaneous Expense" is the Quicken menu selection from "Enter Transactions." In it, you then select the actual "Category."
Got it. Subsequent category selection then should be selected and designated as a 'Tax Related Catagory'.
I have two categories to use under "Miscelaneous Expense," one is "Investment Expense" and the other is "Foreign taxes paid."
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