Prevent Quicken from viewing Transfers as Income and Expense

I have Quicken Deluxe 2007. I transfer money between accounts frequently, as do most others. The problem is that Quicken treats these transfers as Income and Expense items, so when I view a report for monthly activity, the transfers end up distorting the true Income and Expense amounts.

The net difference is zero, as there are the same number of Transfer Income items as there are Transfer Expense items. The problem is that I can't see the true Income and Expense amounts without having to manually subtract the Transfer items.

Does anyone know of a workaround?

Thanks

Reply to
xshoppingx
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I wouldn't call it a workaround.

Quicken *defaults* to including transfers in most reports, but it also defaults to including all accounts and all categories in most reports. If Quicken's defaults are not what you want ... you Customize the report.

You can exclude accounts you don't want. You can exclude categories you don't want. And you can exclude transfers you don't want.

You can either exclude all transfers (on the Advanced tab in the Customize dialog), or you can exclude only the transfers to/from specific accounts (on the Categories tab in the Customize dialog).

Reply to
John Pollard

Hi, forgive me if I'm wrong, but it appears from your source address that you may be using the Australian Edition (as I am) - if so I have the same complaint. As John Pollard advises you can alter the REPORTS to give you the results you require. However, if you are referring to Quicken Home Tab - Projected Cash Flow mini charts? i.e. +IN, -Out, =Whats Left, I have the same problem. Maybe I'm missing something to be able to correct this? Regards Frederick

Reply to
Frederick

OOps I top posted, sorry.

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Reply to
Frederick

Neither of my two current newsgroup servers have the previous posts in this thread, and I'm feeling a bit too lazy at the moment to go to Google to find them; so perhaps I will get something out of context here.

I don't know whether I had Q2007 when I last replied to anyone in this discussion, but I have it now.

I agree with you that you can not eliminate transfers from the Q2007 Home tab In/Out/What'sLeft display. But that display is not about income or expense: it's about "Projected Cash Flow" ... and projected "cash flow" is not the same as projected "income/expense".

I believe that "transfers" can be a legitimate ingredient in cash flows in situations when they are not a legitimate ingredient in income/expense.

While I can not address whether the Home tab Projected Cash Flow accurately describes "cash flow" or whether you should need the ability to "correct" that display (part of which depends on Intuit's intention for the display, which I think is described in the Help); I don't think the Projected Cash Flow display should be expected to address projected "income" and "expenses" when that is not its purpose.

Reply to
John Pollard

I'll just chip in, I have Q2007 and I see when I transfer money to savings it shows as a debit but NOT as a credit, so the 'what's left' is meaningless. Another Intuit bungle? JACL

Reply to
JACL

Or another user misunderstanding?

It's impossible to make heads or tails out of your post.

Here's a suggestion.

Explain in detail what you did. Explain in detail what you expected to see, and *why*. Explain in detail what you saw (including everyplace you looked).

Reply to
John Pollard

replying to John Pollard, PBG wrote: Thanks John. Had been a long time since I customized a report (aka retirement IS good) and this certainly was intended as a tool. Quicken is pretty decent at allowing users to tweak reports, but like xshoppingx says, sometimes their logic for defaults falls a bit short. Appreciate your reply...got me ready for tax planning

Reply to
PBG

Quicken is pretty decent at allowing users to tweak reports, but like xshoppingx says, sometimes their logic for defaults falls a bit short.

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No defaults will satisfy all users; it's hard to question Quicken's "logic" when you don't know what all other users want for defaults.

But you can create your own default reports.

Go to Reports > Reports and Graphs Center. Click the "Manage Saved Reports" button and create a new Folder for saved reports. You could call it, "My Default Reports", for example

From the Reports menu, open a report whose defaults you don't like. Customize that report the way you'd like it to appear when you first open it.

"Save" that customized report (if it was the Spending by Category report, for example, you could name it "Default Spending by Category"). Save the report to the "My Default Reports" folder you created above.

Do the same for all reports whose defaults you want to change.

When you next want to create/use one of those reports, open the "My Default Reports" folder and choose the report from there. [Make sure you do not Save that report back into the My Default Reports folder ... unless you are intentionally trying to change its defaults.]

Reply to
John Pollard

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