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Projected Profit - Q2017 Home Business not showing accurate amounts

Matt

So I have Quicken Home and Business 2017 for Windows. I have one small business setup. The following happens in the same month - When I create an invoice for example $200, and receive a deposit for $50, the Projected Profit ONLY shows $50 that was received. Why is that? Just by the title, I would assume it's taking the invoice that is due that month and should show that all as PROJECTED. Thoughts?

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Quicken_Tyka

Hey Matt,

Sorry you're experiencing this trouble.

Can you upload an image of what you are seeing?

Do you have any other transactions that are scheduled that could be affect this?

-Quicken Tyka

mshiggins

From C. D. Bales:

I believe you are seeing the results of using "cash basis" for determining when your income and expenses are recognized.

When you report on the "cash basis", income and expenses are recognized when the funds are received/paid. When you report on the "accrual basis", income and expenses are recognized when the invoice is posted.

You can change the global report "basis" in Quicken Preferences for Reports and Graphs.

You can change the report "basis" for an individual report on the Advanced tab of the report Customize dialog.

Matt

As you can see the CURRENT and PROJECTED are the same. This doesn't make sense. It should show PROJECTED as the total from the Invoice that is due the same month, correct?

Matt

@mshiggins so i changed what you mentioned and now it does incorporate the entire invoice in projected BUT now it's the reverse problem, it shows the correct PROJECTED but the Current is the wrong (same as projected). Also the recorded deposits are wrong as now it's showing everything weather paid or unpaid as i actually received it.

mshiggins

From C. D. Bales:

I believe you are misunderstanding Quicken's intention.

Your current profit should be the net of In and Out only for "Recorded" transactions.

Your projected profit should be the net of In and Out for all transactions (which would be both "Recorded" and "Scheduled" transactions).

I don't believe that Quicken intends to treat the possible future payment of your recorded invoice(s) as part of its "projection". I believe it is intended that only "Scheduled Transactions" will comprise the difference between "recorded" and "projected".

Since you have no scheduled transactions in your posted image, your current and projected amounts should be equal.

Matt

From C. D. Bales:

I believe you are misunderstanding Quicken's intention.

Your current profit should be the net of In and Out only for "Recorded" transactions.

Your projected profit should be the net of In and Out for all transactions (which would be both "Recorded" and "Scheduled" transactions).

I don't believe that Quicken intends to treat the possible future payment of your recorded invoice(s) as part of its "projection". I believe it is intended that only "Scheduled Transactions" will comprise the difference between "recorded" and "projected".

Since you have no scheduled transactions in your posted image, your current and projected amounts should be equal.

Ok, that would make sense as I don't have scheduled transactions. I'm surprised that there is no function for this, would be beneficial to see what the anticipated/projected amount of profit/earnings will be for the month.