1ST POST This is very strange. On June 23, 2008 I deposited a $6.05 check from the State of California (Franchise Tax Board) into an investment account. The transaction was split between State Tax Expense (a reduction) and Interest Income (an increase).
In accountant-speak the transaction is:
Debit Cash $6.05 Credit State Tax Expense $6.00 Credit Interest Income $ .05
If I run an Account Balances report as of 6/30/2008 that "includes unrealized gains" then the report shows that account properly stated. That is, the balance in the report agrees to the penny to the "Market Value" column total for that account's Portfolio View as of 6/30/2008.
However, if I run an Account Balances report as of 6/30/2008 that excludes realized gains then the report shows that account improperly. That is, the balance in the report is off (less than) the "Cost Basis" column total for that account's Portfolio View as of 6/30/2008 by $6.05.
I've deleted the entry and re-entered it, I've validated the file, but nothing has changed. This isn't proper behavior on the part of Quicken, but I don't have any idea how to correct it.
2ND POST Well, I found out *what* was causing the problem, though I don't understand the *why*. I'm going to put it down to a Quicken programming error, though maybe Quicken Matt would like to come in to clear up my confusion.
What was causing the error? The fact that I was splitting the transaction!!! I know, doesn't make a lick of sense, but that seemed to be the issue. So, what I ended up doing was eliminating the split and posting the full $6.05 refund to State Taxes:
Debit Cash $6.05 Credit State Tax Expense $6.05
That got the deposit to show up in the Account Balances report (excluding unrealized gains) properly, i.e., the amount in the report and the total of the Cost Basis column as of 6/30/2008 agreed, at the cost of miss-stating the income and expense report.
To get around this I posted a $0 transaction to the investment account and then *split* it, reducing the refund going to State Tax Expense by $.05 and increasing Interest Income by $.05:
Debit Cash $0.00 Debit State Tax Expense $.05 Credit Interest Income $.05
As far as I know this transaction *doesn't* show up in Quicken's rendition of the balance sheet either, but since it's a $0 entry as far as the balance sheet goes it really doesn't matter.
Never a dull moment with Quicken!