QWindows Sub accounts (16 Merged Votes)

Unknown

Like Mr. Weber asked, is there and consideration being given to providing for subACCOUNTS?

You do understand that you cannot set up sub categories with beginning balances, for example, or reconcile them. I'm fully aware of how to use sub categories and they're not useful for what I need: capability to sub divide an account. If sub accounts aren't coming, sobeit; but please don't patronize me with talk about why they're not useful.

greg.ziolkowski

Like Mr. Weber asked, is there and consideration being given to providing for subACCOUNTS?

Agree!

q_lurker

Like Mr. Weber asked, is there and consideration being given to providing for subACCOUNTS?

Users on this site and its predecessors have mentioned sub-accounts for years, but it always seems to be a select group of users rather than a large number of the base.  My personal sense from this is that the insufficient demand and the probably significant development effort has kept sub-accounts off the table and likely that will continue.  Savings goals are as close as you will get.  

Quicken, Inc. seems to be following the model from Intuit to not pre-announce development efforts - either things that will be done or that won't be done.  If you look all the "Ideas" posted on this site, you'll find very few with a "Not Planned" status. 

Unknown

Like Mr. Weber asked, is there and consideration being given to providing for subACCOUNTS?

[removed] Thanks, q.lurker.  
...Bob

Chas Bicking

Like Mr. Weber asked, is there and consideration being given to providing for subACCOUNTS?

all very nice, but savings goals screw up my actual checking account balance / reconciliation

Unknown

I have a perfect real world example. My wife and I, and my teenage daughter all have credit cards from the same bank and on the same account; however the card numbers are slightly different. When the statement comes, it's a consolidated statement that is separated by each individual. The joint nature of the cards draws from a common credit limit (although each card can be assigned a lesser limit if appropriate), annual fee, interest rate, etc. The convenience of the accounts, and where Quicken would assist, is seeing each card user's purchases rather than having them all lumped onto one statement or transactions downloaded into one Quicken account.

This feature is also available on the Quickbooks products which I use for my employees who also have individually issued credit cards which are all sub-account on the main corporate account. It would be wonderful if Quicken adopted the same feature.

greg.ziolkowski

Another example for the use of SUBaccounts:  Your home.  You may have the cost of when you bought it.  But you probably have made improvements or major repairs.  These should be included in the cost of your home, NOT expensed.  Another factor in evaluating your "asset" is the market value of the home.  Also an offset for the commission that would be paid to a realtor.    Taken together you have the true value of the "account" Home/House.  You don't have to be running a business to have a desire to get a better picture of your Net Worth.

NotACPA

I have a perfect real world example. My wife and I, and my teenage daughter all have credit cards from the same bank and on the same account; however the card numbers are slightly different. When the statement comes, it's a consolidated statement that is separated by each individual. The joint nature of the cards draws from a common credit limit (although each card can be assigned a lesser limit if appropriate), annual fee, interest rate, etc. The convenience of the accounts, and where Quicken would assist, is seeing each card user's purchases rather than having them all lumped onto one statement or transactions downloaded into one Quicken account.

This feature is also available on the Quickbooks products which I use for my employees who also have individually issued credit cards which are all sub-account on the main corporate account. It would be wonderful if Quicken adopted the same feature.

Do you get 1 statement from the bank, with transactions for all of those cards listed thereon ... or do you get 3 statements?

volvogirl

You should add the improvements and market value increase/decrease in the House Asset Account.  You can make the category a transfer back to the same account.  Then it is a one sided entry and goes off into cyberspace. 

greg.ziolkowski

This doesn't achieve my objective of keeping tract of those items separately and being able to have a report that can show the current value without listing all the categories.  The devil is in the details.  You could use Tags to keep track of that detail but how do you get an easy total of those Tag items?

Unknown

This doesn't achieve my objective of keeping tract of those items separately and being able to have a report that can show the current value without listing all the categories.  The devil is in the details.  You could use Tags to keep track of that detail but how do you get an easy total of those Tag items?

Take a calculator and subtract the cost basis of the house from the entire House Asset account.

Might take all of two seconds to calculate. 

greg.ziolkowski

This doesn't achieve my objective of keeping tract of those items separately and being able to have a report that can show the current value without listing all the categories.  The devil is in the details.  You could use Tags to keep track of that detail but how do you get an easy total of those Tag items?

Wrong!

Unknown

This doesn't achieve my objective of keeping tract of those items separately and being able to have a report that can show the current value without listing all the categories.  The devil is in the details.  You could use Tags to keep track of that detail but how do you get an easy total of those Tag items?

Well, I don't know whether you're making a feature request, or just complaining.

Because if it's something you expect Quicken to do for you, there's no way to do it aside from assigning tags and running a report unique to those tags.  Or setting up a separate Home Improvement account and keeping track there.

And if it's a feature request, just my opinion here, but it's not going to happen in the foreseeable future (more like never!).

Phil Becker

Let me give another example of where sub-accounts would be valuable. 

My wife has an AMEX Platinum credit card and I recently took up AMEX's offer of a very low cost Gold Card that would be linked to her account.  I set these up as separate accounts in Quicken, because that is the way AMEX handles the transaction downloads and that part works fine. 

However, where things fall apart is that in the monthly statement from AMEX, the statement COMBINES the charges from the two cards into a single report and gives the total charge for the two cards.  It does not give individual totals for each card.  Same for payments made during the reporting period.

This makes the Quicken reconciliation facility extremely awkward to use.  Essentially, I must manually create two separate AMEX statements each month so that I can enter the total charges and payments for each card into the two separate Quicken accounts.  It is a really an annoying way AMEX has structured this since in on instance it treats the two cards as one account and in the other it treats them as separate accounts.  If Quicken permitted sub-accounts, it would solve the problem.

CPA

I am a retired CPA and former Fortune 500 CFO, who uses Quicken for personal purposes.  

Sub-accounts for assets and liabilities would clearly be a huge improvement for Quicken.  I don't think anyone with an accounting background would argue or dispute that point...no commercial product for even small businesses would sell without that feature.  

[removed]

greg.ziolkowski

Agree totally.

smayer97

It is all a matter of perspective. Quicken is a personal finance management software not true accounting software. This may be a good idea for some but only if there is enough of a demand will they entertain it. Then they still have to see if it fits with the overall vision for the product and the target audience. Then weigh that in with other feature requests or their own plans for new features.

And with only 1 vote above so far, I doubt it will gain much traction. Just my 2 cents.

greg.ziolkowski

If you follow this thread, you'll see that there are many requests for this change.

Unknown

What is difficult to understand is how adding features that those with
more complex situations and/or accounting backgrounds desire....that
don't complicate the product since they are totally optional...can
possibly be a detriment to the product.

It can be detrimental in two ways.

1. Any feature, especially one that like this which would in fact be complicated to put in, will take way development from other features and bug fixes that the majority of Quicken users want.
2. It will complicate the program, and as such potentially introduce more bugs.

[removed]

Many times people come in here and are hoping to persuade Quicken Inc that they should change Quicken so that it fits the market they want.  Whether that be for "CPAs", businesses, foreign countries/languages, ...  It have been my observation that Quicken Inc is being hard pressed to just meet the requirements of the market they are targeting.

You talk about missed opportunities, that startups will fill is Quicken Inc doesn't act.  I doubt it.  There are plenty of financial packages out there that address the needs of CPAs (or don't address them, but are at least the market they are targeting).

It seems like people believe like that if Mc Donald's sells food, and some how doesn't respond to the "unmet need" to cater to millionaires that want the latest French dining experience, that Mc Donald's is somehow "wrong".

[removed]

This thread was posted correctly as an Idea, exactly how Quicken Inc says they want suggestions posted.  And Quicken Inc has said they monitor these threads.  But except in the few times they have asked for some clarifications, they normally don't respond here.

Basically the case has been properly submitted, and I think the suggestion pretty much "fleshed out".  I don't think there is much else to do here.

BTW I don't think you really grasp the magnitude of "Quicken".

1. Quicken Inc gets hundreds of suggestions every year.
2. Quicken is used by millions of people (by Quicken Inc's account, but certainly hundreds of thousands of active users).  4 or 5 people responding in a thread (and not even voting) is a drop in the bucket.

Chas Bicking

Hi Greg,

Thanks for taking the time to post your idea. To make sure we get the suggestion to the correct development team, please let us know what Quicken product (QWin or QMac), what version (2015, 2016, etc.) and what release you have installed. Also, let us know whether you using the US version of Quicken or Quicken Canada. 

Thanks,
Dave

Could it be as "simple" as tagging each asset transaction then using the tags to structure your reporting?

NotACPA

Hi Greg,

Thanks for taking the time to post your idea. To make sure we get the suggestion to the correct development team, please let us know what Quicken product (QWin or QMac), what version (2015, 2016, etc.) and what release you have installed. Also, let us know whether you using the US version of Quicken or Quicken Canada. 

Thanks,
Dave

YES, it is that simple.  Tags are a very simple way to implement "sub-accounts".  And they work in Liability accounts as well.

Unknown

This reply was created from a merged topic originally titled Please add tag to accounts.


I have multiple accounts at several financial institutions.  I would like to see a report that shows the total of those accounts for each one.  For example, I have a checking, savings, and multiple CDs at 'bank x' and a savings and several CDs at 'bank y'.  The report would show the accounts and a total for each bank.  

I assume you could use a 'tag' or some type of group ID to produce the report.

NotACPA

This reply was created from a merged topic originally titled Sub-Accounts.


Why doesn't either the "Net Worth" or "Account Balances" report do what you need?  No tag would be needed.

And, which Q product are you running?

Note: This conversation was created from a reply on: Please add tag to accounts.

volvogirl

This reply was created from a merged topic originally titled Sub-Accounts.


If you want a report of all the accounts at one bank or mutual fund company or brokerage then just include those accounts on the report.  Or do you want a report of all your accounts but subtotaled by Bank?  Don't think you can do that.  

What I think you are talking about is using sub-Accounts.  Like have an Account called Wells Fargo and then all your accounts listed.  Quicken won't do that.  I just run a report for each bank separately.  

Note: This conversation was created from a reply on: Please add tag to accounts.

NotACPA

This reply was created from a merged topic originally titled Sub-Accounts.


OR, just reconcile your accounts one at a time (to make sure that they agree with the bank statements) ... and then look at the bank statements for the total that each holds.

Note: This conversation was created from a reply on: Please add tag to accounts.

Unknown

This reply was created from a merged topic originally titled Sub-Accounts.


Using 2017 (R15) on Windows 10 Pro.  The Net Worth report shows the total for all bank accounts.  I would like to see a sub-total per bank.  The suggestion about sub-accounts would be a better solution than tags.

Maybe next release??

Note: This conversation was created from a reply on: Please add tag to accounts.

NotACPA

This reply was created from a merged topic originally titled Sub-Accounts.


Don't expect sub-accounts anytime in the near future.  Those would be a MAJOR disruption of how Q works.

Note: This conversation was created from a reply on: Sub-Accounts.

Unknown

I hit this thread looking for how to handle two of what seems like common issues, that I can find no guidance/solution for.  I'm using Quicken HBR 2018:
* Have a Bank of America Business acct where the credit card charges seem to come in one account number, and the payments into another account number - this is BoA's method, I have no say in it.  In quicken HBR these setup as two separate accounts when downloading transactions.  How do I reconcile (somehow combine both the charges and payments into one account)?
* For same overall account, I intend to establish an additional credit card/user, so essentially the same question of consolidating transactions for reconcile.  Seems like this would be a common situation for many small businesses, is mentioned above by other users.  
Does quicken expect us to download transactions, then copy/paste them from one account into another before reconciling?  Is there a way to make the second (or other additional) BoA accounts all download their transactions into the same quicken account? - Thx

Unknown

This reply was created from a merged topic originally titled I would like to suggest a feature: Account Group Sub-Classifications.


I cannot figure out a way to create a sub-classification of Account Groups (e.g. "Personal Credit", "Personal Retirement", "Business Asset", etc.)

For Example, under the Account class "Personal Credit," I would love to be able to create sub-classifications, such as "Rewards Cards."  I could imagine others might want to add a sub-classification to separate their college kids' cards like "Kids Credit".  

This may be handy in other account classes like "Personal Retirement"  The automatic download from most of my retirement account vendors (Fidelity, etc.) show up as one account in Quicken no matter how many funds I've invested in.  Others, like Invesco, show up in Quicken differently.  My account at Invesco has five different funds, all of which show up as separate accounts in the account bar.  By being able to add a sub-classification of "Invesco" under "Personal Retirement," I'd be able to see the total value of all five funds in the account bar.  

If there is an option to add these sub-classifications, I can't find it but would love to hear from others about it.  Thank you.

Unknown

This reply was created from a merged topic originally titled Sub-Accounts.


There isn't an option like this.  And you did the right thing to suggest it as in Idea that people can vote on.

Note: This conversation was created from a reply on: I would like to suggest a feature: Account Group Sub-Classifications.