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Tracking Tax Deductible Business Expenses in Quicken Home, Business & Rental Property

I am looking to automate the process for tracking tax-deductible business expenses in Quicken Home & Business. I have created a category called "Deductible Business Expenses" and assigned that to line items within my transaction register. I am also including "Notes" to identify specifically what the expense was. I am generating the report "Spending by Payee" and filtering by the category "Deductible Business Expenses". This shows me the payee name and the amount. Does anyone know if there is a way to include the "Notes" column in this report to identify for my accountant what each of those expenses was specifically for? 

Comments

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited June 2018
    No, there is no way to get the Notes field included in any reports or presentations.  (That greatly limits the value of the Notes field, IMO.)  

    I would suggest you create and/or use more specific categories - Office supplies, Utilities, etc..  Also make sure each such category is assigned an applicable Schedule C tax-line item.  Quicken should be offering a standard set of such expenses.     
  • Unknown
    Unknown Member
    edited June 2018
    Michael
    Question: Why are you wanting to use the notes attribute field instead of the memo field?  I would think you can use most of the pre-existing business expense categories, re-assign them to your choice of tax-line items, use payee/description field, tags (isolate clients), and memo field.  All of these are reportable/exportable.  Export to Excel and it will be very easy for anyone including your accountant to isolate, group, and/or filter the dataset.
  • Unknown
    Unknown Member
    edited June 2018
    Robert,
    Great suggestions. Thank you. I think this provides me with a workaround that makes sense. I appreciate your assistance. 
    Michael 
This discussion has been closed.