My wife, using Q07, has transferred money from her cash account to her brokerage account. The transaction appears as "[Tx to Etrade]" in the cash account, and "[Checking]" in the Etrade account. However, when doing a report the transfer shows up as INCOME!! This doesn't seem right. What are we doing wrong here?
TIA
Steve
You are making the invalid assumption that your brokerage is downloading transactions in a Quicken friendly manner. This is rarely the case. You need to speak to them about this.
Since you have not specified anything more than "a report", it's not easy to give you specifics.
All Quicken transactions are treated as either income or expense if you tell Quicken to include them in virtually any "Income and Expense" type report.
You are not obliged to include all transactions in a report, and many reports allow you to aschew the income/expense classifications in favor of alternatives such as inflow/outflow (Cash Flow), or "Category Group" (and you can assign "transfers" to any Quicken category group ... including one you create).
You also have various options for the treatment of transfer transactions (which are virtually always "cash flow" transactions). Check the "Advanced" tab of the Customize routine for whatever report you are producing.
Another qualifer you can use to include/exclude transactions from Quicken reports is: Quicken "Class". Check your Quicken Help for more info on Class: you can assign Classes to Quicken transfers.
Further: you are able to exclude transactions from reports based on such criteria as Payee Name, Category, and Memo (and such exclusions can be generic: for example, you could exclude all transactions that contained the text "not income" in the Memo field).
In short: the odds are very great that you can create a report that displays your data according to your desires; Quicken's defaults can almost always be over-ridden.
Sorry, I was thinking something else.
That depends on how you look at it. From the sending side it's an expense. From the receiving side it's income. Doesn't that make sense?
Doc Rock wrote: My wife, using Q07, has transferred money from her cash account to her brokerage account. The transaction appears as "[Tx to Etrade]" in the cash account, and "[Checking]" in the Etrade account. However, when doing a report the transfer shows up as INCOME!! This doesn't seem right. What are we doing wrong here?
You are making the invalid assumption that your brokerage is downloading transactions in a Quicken friendly manner. This is rarely the case. You need to speak to them about this.
-- Andrew DeFaria What would a chair look like if your knees bent the other way.
Automatic update downloading data works just find for most banks. It doesn't work for most investment brokers. There's a difference there. The investment brokers don't care how their data is portrayed nor conveyed to Quicken users. They have lots of confusing transactions and just about nobody of them does it the same. Banks are different. To shun both is to throw the baby out with the bath water...
sharx35 wrote: Yet another reason why I shun automatic updating using downloaded data. Automatic update downloading data works just find for most banks. It doesn't work for most investment brokers. There's a difference there. The investment brokers don't care how their data is portrayed nor conveyed to Quicken users. They have lots of confusing transactions and just about nobody of them does it the same. Banks are different. To shun both is to throw the baby out with the bath water...
-- Andrew DeFaria The big difference between sex for money and sex for free Is that sex for money usually costs a lot less!
Now if we could just get you included with that bath water and baby... ;-)
sharx35 wrote: Yet another reason why I shun automatic updating using downloaded data. Automatic update downloading data works just find for most banks. It doesn't work for most investment brokers. There's a difference there. The investment brokers don't care how their data is portrayed nor conveyed to Quicken users. They have lots of confusing transactions and just about nobody of them does it the same. Banks are different. To shun both is to throw the baby out with the bath water...
-- Andrew DeFaria The big difference between sex for money and sex for free Is that sex for money usually costs a lot less!
-- Andrew DeFaria He who laughs last thinks slowest!
In my mind and world, you have long since been tossed to the garbage. So then I've succeeded! :-P
I was just commenting and hoping for all other's sake...
sharx35 wrote: Far better people than YOU have tried......and failed, miserably. In my mind and world, you have long since been tossed to the garbage. So then I've succeeded! :-P
I was just commenting and hoping for all other's sake...
-- Andrew DeFaria Diplomacy is the art of saying "Nice doggie!" - Until you can find a rock.
It is a marvel in operation isn't it. Now your mind wouldn't fit in a petrie dish but that's a subject for another thread.
And so I bid you adue, as you land in my kill file. Have fun, I have no more time for f****ng idiots like you! Others, you should follow my lead
- trust me...
sharx35 wrote: YOUR mind is probably the subject of discussion amongst various mental health professionals. It is a marvel in operation isn't it. Now your mind wouldn't fit in a petrie dish but that's a subject for another thread.
And so I bid you adue, as you land in my kill file. Have fun, I have no more time for f****ng idiots like you! Others, you should follow my lead - trust me...
-- Andrew DeFaria If I only had a little humility, I'd be perfect. - Ted Turner
sharx35 wrote: YOUR mind is probably the subject of discussion amongst various mental health professionals. It is a marvel in operation isn't it. Now your mind wouldn't fit in a petrie dish but that's a subject for another thread.
And so I bid you adue, as you land in my kill file. Have fun, I have no more time for f****ng idiots like you! Others, you should follow my lead - trust me...
-- Andrew DeFaria If I only had a little humility, I'd be perfect. - Ted Turner
sharx35 wrote: YOUR mind is probably the subject of discussion amongst various mental health professionals. It is a marvel in operation isn't it. Now your mind wouldn't fit in a petrie dish but that's a subject for another thread.
And so I bid you adue, as you land in my kill file. Have fun, I have no more time for f****ng idiots like you! Others, you should follow my lead - trust me...
-- Andrew DeFaria If I only had a little humility, I'd be perfect. - Ted Turner
sharx35 wrote: YOUR mind is probably the subject of discussion amongst various mental health professionals. It is a marvel in operation isn't it. Now your mind wouldn't fit in a petrie dish but that's a subject for another thread.
And so I bid you adue, as you land in my kill file. Have fun, I have no more time for f****ng idiots like you! Others, you should follow my lead - trust me...
-- Andrew DeFaria If I only had a little humility, I'd be perfect. - Ted Turner
What the f*ck is stopping *you* from not reading if you aren't interested? You know you don't have to read every post ya know! If this doesn't interest you then why is it you have so little self control that you can't merely skip this thread?
Answer is you can't help yourself and have to read, otherwise you wouldn't be responding. Admit it.
Andrew wrote: But you guys are never going to quit - each one wants the last word. Enuf already! (And this is MY last word on the subject....I promise!) What the f*ck is stopping you from not reading if you aren't interested? You know you don't have to read every post ya know! If this doesn't interest you then why is it you have so little self control that you can't merely skip this thread?
Answer is you can't help yourself and have to read, otherwise you wouldn't be responding. Admit it.
-- Andrew DeFaria Why do we wash bath towels? Aren't we clean when we use them?
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