Short Range Outlook (SRO)

Chris Mead
Chris Mead Member ✭✭
Quite some time ago I had a conversation with a very experienced individual with lots of responses regarding the concept of 'forward scheduling.'  To predict my balances in the future, I enter the repeating cost (or income) and carry the entries forward up to six months.  This was quite a powerful tool in Quicken 2007 for MAC and in fact gave me a short range outlook for my finances.

The individual stated that the new version does indeed have this feature - and in fact it does...but its not really very good.  For transactions that vary somewhat, like a credit card or Costco bill, it falls flat.

The use case is this:  I schedule an average cost for a bill.  For example, $2,100 for a Visa bill.  I carry that forward 6 months or so with all my other transactions (electric bill, mortgage, income, etc.). I can see if I am getting close to zero at any particular time in the future or if I can afford something else that I wasn't planning on.

When I get a bill from Visa, normally due in 3 weeks, and I modify that particular future date's entry (remember, it is in 3 weeks), not only does it modify that entry but forces modification of all future entries after that in the register.  So if there was a particularly light or heavy bill, the so-called average was then upset which in turns kills the principle of the SRO.

Quicken 2007 did not work this way.  Scheduled transactions were maintained in another look-up table.  That table also reported back how far any particular transaction was scheduled forward directly in the register.  One could just press a button and use entries into the register and the last date scheduled would increment by whatever frequency one chose (month, week, bi-week, 2 month, etc.). When one modified an entry in the register, the schedule table was never modified.

This version of Quicken, in forcing the individual to schedule forward directly in the register, has marched us backward in terms of the functionality.  So suggestion: Make it work like Quicken 2007.

Comments

  • smayer97
    smayer97 SuperUser, Mac Beta, Canada Beta ✭✭✭✭✭
    edited August 2018
    Actually, QM2007 has ALWAYS worked this way (I know because I still use it). QWin has a feature that allows you to modify the first occurrence of a scheduled transaction. You can add your VOTE to 
    Add Ability to Edit First Transaction in Bill Reminder (Schedule Transactions) Series Without Changing the Rest.

    First, click on the underlined link above to go there, then click VOTE at the top of THAT page, so your will vote count for THIS feature and increase its visibility to the developers by seeking to have the features you need or desire end up in the latest version.

    While you are at it, you may want to add your VOTE to related IDEAS found on the 
    List of Requests for Bill Reminders (aka Scheduled Transactions) and Graph Features (aka Cash Flow Forecast or Projected Balance). Click on the underlined link, then follow the instructions to add your vote to more related ideas. Your VOTES matter!

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)
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    Add your VOTE to Quicken for Mac Product Ideas

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    (Canadian user since '92, STILL using QM2007)
  • Quicken_Tyka
    Quicken_Tyka Alumni ✭✭✭✭
    edited August 2018
    Hello Chris!

    Are you using scheduled transactions or have you entered transaction at a later date?

    If you are using scheduled transactions, the transaction has to be marked as paid prior to changing the amount.

    I've created a series of scheduled transactions.

    image

    When the first transaction has actually been paid, I mark that transaction as paid using the Paid Icon on the bottom of the screen.

    image

    I can then change the amount without affecting the rest of the scheduled transactions.

    image

    Let me know if you are going about it a different way!

    -Quicken Tyka
    ~~~***~~~
  • smayer97
    smayer97 SuperUser, Mac Beta, Canada Beta ✭✭✭✭✭
    edited June 2018

    Hello Chris!

    Are you using scheduled transactions or have you entered transaction at a later date?

    If you are using scheduled transactions, the transaction has to be marked as paid prior to changing the amount.

    I've created a series of scheduled transactions.

    image

    When the first transaction has actually been paid, I mark that transaction as paid using the Paid Icon on the bottom of the screen.

    image

    I can then change the amount without affecting the rest of the scheduled transactions.

    image

    Let me know if you are going about it a different way!

    -Quicken Tyka

    That works...though not as ideal for all circumstances as the IDEA option...but that is the work-around, at least for now.

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)
    Have Questions? Help Guide for Quicken for Mac
    FAQs: Quicken Mac Quicken Windows Quicken Mobile

    Add your VOTE to Quicken for Mac Product Ideas

    Object to Quicken's business model, using up 25% of your screen? Add your vote here:
    Quicken should eliminate the LARGE Ad space when a subscription expires

    (Canadian user since '92, STILL using QM2007)
  • John_in_NC
    John_in_NC SuperUser, Mac Beta Beta
    edited June 2018

    Hello Chris!

    Are you using scheduled transactions or have you entered transaction at a later date?

    If you are using scheduled transactions, the transaction has to be marked as paid prior to changing the amount.

    I've created a series of scheduled transactions.

    image

    When the first transaction has actually been paid, I mark that transaction as paid using the Paid Icon on the bottom of the screen.

    image

    I can then change the amount without affecting the rest of the scheduled transactions.

    image

    Let me know if you are going about it a different way!

    -Quicken Tyka

    As Tyka pointed out, marking it as paid allows you to make a one time change.

    Tip: Just double click on the field on the reminder you wish to change (like the Amount), and you will get a drop down asking if you wish to mark as paid, skip, etc. Simply hit return as mark as paid is the default, and focus will go directly to the field you double clicked on. Enter the amount, and hit return. 
  • Chris Mead
    Chris Mead Member ✭✭
    edited January 2019
    Thank you - as a work around (marking the item paid) may work but is not correct.  The actual amount is not paid until it is actually paid.  You can 'pay' in the future, you can accrue.  It is different - but in your response that's how I would interpret it.

    How would this be handled in reconciliation?  Would it be off by that amount?

    Yes, the "idea", meaning do it like quicken 2007, is the right way to handle the process.

    Chris
  • John_in_NC
    John_in_NC SuperUser, Mac Beta Beta
    edited June 2018

    Thank you - as a work around (marking the item paid) may work but is not correct.  The actual amount is not paid until it is actually paid.  You can 'pay' in the future, you can accrue.  It is different - but in your response that's how I would interpret it.

    How would this be handled in reconciliation?  Would it be off by that amount?

    Yes, the "idea", meaning do it like quicken 2007, is the right way to handle the process.

    Chris

    I wouldn't overthink this. Quicken is dumbed down cash based accounting, not accrual. Enter the transactions on the date that they should occur; reconciliation should not be impacted.

    There really should not be any difference between 2007 and older. You are simply posting future transactions. 
This discussion has been closed.