Community Discussion: Expense items appearing under an income category

Expense items appearing under an income category

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The original poster says, " ... in the past Quicken wouldn't allow an expense to be categorized as income or visa versa and now it does." NOT TRUE.

Quicken has never prevented (or warned about) using an income category for a transaction recorded as a payment (tested in Q2020, Q2010 and Q2004). Which is a good thing, since there is nothing inherently wrong with such a transaction.

For example: if a person received some income, then later was notified that the income amount was larger than it should have been and the person had to return some of that income; the appropriate Quicken transaction would be a "payment" transaction with the same income category as the original income transaction.

Incorrectly recording an income category to an expense transaction is not conceptually any different from recording the wrong expense category to an expense transaction (or the wrong income category to an income transaction) - and there is no way Quicken could prevent, or warn about, those mistakes.

Using more care when entering/modifying transactions would help prevent the mistake. And creating a report could help locate the mistake the op is having. For example: Reports > Banking > Transaction. Customize to show only income categories, then sort on the Amount column. If needed regularly, such a report could be "Saved".

[I have long believed that it would be good to have a Quicken Category selection option that allowed selecting/deselecting all Income categories or all Expense categories ... which would be very beneficial for this situation.] [Last Community post: 05-15-21 @ 8:47 am]
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John Pollard
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