tagging

I am using Quicken for Windows Home Business Rental year 2019 version R14.23 Build 27.1.14.23
I thought when you tagged a property it would go to the journal page of the Rental Property and include everything expenses and income but I am having to manual enter the rent received 

Comments

  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited October 2018
    From C. D. Bales:



    "I thought when you tagged a property it would go to the journal page of the Rental Property and include everything expenses and income ....".



    Your statement makes no sense, so I'm not surprised you are not seeing what you expected to see.



    Assigning a "Property Tag" to a property in Quicken is the first step to tracking income and expenses for a specific property. But it is just the first step; by itself, it does nothing. [And I'm not sure why you mentioned "expenses", when your complaint was limited to "having to manual[ly] enter the rent received".]



    Quicken assumes that you will enter the rent for a property by using the "Rent Reminder" Quicken created when you assign a Tenant to the Property. No Tenant for the Property: no Quicken created Rent Reminder.



    If you use the Quicken created Rent Reminder, you do not have to "manual[ly] enter the rent received", though you do have to manually enter the Rent Reminder (a trivial process compared to manually entering a complete rent transaction). And creating your own Rent Reminder for each Tenant/Property/lease is an even better approach.



    It sounds like you do not understand how the process works, but it's not clear exactly what you do, and don't, understand.



    Posting the specifics of what you assume, what you have done, and what results you have gotten; might help to provide the information necessary to clear up your misunderstandings.
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • Unknown
    Unknown Member
    edited October 2018
    mshiggins said:

    From C. D. Bales:



    "I thought when you tagged a property it would go to the journal page of the Rental Property and include everything expenses and income ....".



    Your statement makes no sense, so I'm not surprised you are not seeing what you expected to see.



    Assigning a "Property Tag" to a property in Quicken is the first step to tracking income and expenses for a specific property. But it is just the first step; by itself, it does nothing. [And I'm not sure why you mentioned "expenses", when your complaint was limited to "having to manual[ly] enter the rent received".]



    Quicken assumes that you will enter the rent for a property by using the "Rent Reminder" Quicken created when you assign a Tenant to the Property. No Tenant for the Property: no Quicken created Rent Reminder.



    If you use the Quicken created Rent Reminder, you do not have to "manual[ly] enter the rent received", though you do have to manually enter the Rent Reminder (a trivial process compared to manually entering a complete rent transaction). And creating your own Rent Reminder for each Tenant/Property/lease is an even better approach.



    It sounds like you do not understand how the process works, but it's not clear exactly what you do, and don't, understand.



    Posting the specifics of what you assume, what you have done, and what results you have gotten; might help to provide the information necessary to clear up your misunderstandings.

    I am not sure how to get a screen shot to help explain.  
  • Quicken Harold
    Quicken Harold Alumni ✭✭✭✭
    edited October 2018
    mshiggins said:

    From C. D. Bales:



    "I thought when you tagged a property it would go to the journal page of the Rental Property and include everything expenses and income ....".



    Your statement makes no sense, so I'm not surprised you are not seeing what you expected to see.



    Assigning a "Property Tag" to a property in Quicken is the first step to tracking income and expenses for a specific property. But it is just the first step; by itself, it does nothing. [And I'm not sure why you mentioned "expenses", when your complaint was limited to "having to manual[ly] enter the rent received".]



    Quicken assumes that you will enter the rent for a property by using the "Rent Reminder" Quicken created when you assign a Tenant to the Property. No Tenant for the Property: no Quicken created Rent Reminder.



    If you use the Quicken created Rent Reminder, you do not have to "manual[ly] enter the rent received", though you do have to manually enter the Rent Reminder (a trivial process compared to manually entering a complete rent transaction). And creating your own Rent Reminder for each Tenant/Property/lease is an even better approach.



    It sounds like you do not understand how the process works, but it's not clear exactly what you do, and don't, understand.



    Posting the specifics of what you assume, what you have done, and what results you have gotten; might help to provide the information necessary to clear up your misunderstandings.

    Hello Becca, appreciate your question.

    Here is some help in attaching a screen shot to us: 

    Windows Snipping Tool Help: https://support.microsoft.com/en-us/help/13776/windows-use-snipping-tool-to-capture-screenshots

    After making a snapshot, you can attach the image to your reply: https://getsatisfaction.com/quickencommunity/topics/to-attach-screenshot-to-your-posts

    Hope this helps.

    Respectfully,
    ~ Quicken Harold.
    Quicken Harold
    Community Moderator
  • Unknown
    Unknown Member
    edited October 2018
    mshiggins said:

    From C. D. Bales:



    "I thought when you tagged a property it would go to the journal page of the Rental Property and include everything expenses and income ....".



    Your statement makes no sense, so I'm not surprised you are not seeing what you expected to see.



    Assigning a "Property Tag" to a property in Quicken is the first step to tracking income and expenses for a specific property. But it is just the first step; by itself, it does nothing. [And I'm not sure why you mentioned "expenses", when your complaint was limited to "having to manual[ly] enter the rent received".]



    Quicken assumes that you will enter the rent for a property by using the "Rent Reminder" Quicken created when you assign a Tenant to the Property. No Tenant for the Property: no Quicken created Rent Reminder.



    If you use the Quicken created Rent Reminder, you do not have to "manual[ly] enter the rent received", though you do have to manually enter the Rent Reminder (a trivial process compared to manually entering a complete rent transaction). And creating your own Rent Reminder for each Tenant/Property/lease is an even better approach.



    It sounds like you do not understand how the process works, but it's not clear exactly what you do, and don't, understand.



    Posting the specifics of what you assume, what you have done, and what results you have gotten; might help to provide the information necessary to clear up your misunderstandings.

    Thank you
  • Unknown
    Unknown Member
    edited October 2018

    This page is confusing for me I am not sure why it shows the property like this when there's only one tag in the tag list

  • Unknown
    Unknown Member
    edited October 2018

    This is where I go to do the rent received and the one I was talking about.  
  • Unknown
    Unknown Member
    edited October 2018

    I hope this can explain what I was talking about with having to enter the rents received and i thought it would put everything for the property here.  Can anyone tell me what I am doing wrong and why it isn't automatically putting the income and expenses for each property we only have 3?
  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited October 2018
    Becca said:


    I hope this can explain what I was talking about with having to enter the rents received and i thought it would put everything for the property here.  Can anyone tell me what I am doing wrong and why it isn't automatically putting the income and expenses for each property we only have 3?

    From C. D. Bales:


    For starters, you're entering the rent received transactions in the Property (House) asset account, and that's not where the rent should be entered. Receiving rent does not itself alter the value of the property.


    As I mentioned before, Quicken expects you to use the Rent Reminder created when you assigned the Tenant to the Property, to enter the rent. And that Rent Reminder should normally specify the account where you deposited the rent (typically a checking account) ... not the account used to track the value of the property. When you use a Quicken created Rent Reminder, the payee, category, tag should be correct.


    The Quicken created Rent Reminders are somewhat problematic, so I personally recommend creating your own Rent Reminder, making sure to use the exact Tenant name for the Payee, a rent income category with a Schedule E rent income tax line item assigned, and tagged with the correct Property tag. The rent income transaction must have a date on or after the first date of the rent period, and on or before the last date of the rent period, if you want it to appear in the correct rent period in the Rent Center. Once you have your own Rent Reminder working, you can delete the Quicken created Rent Reminder.


    When you are ready to enter your rent received transaction, there are a couple of approaches:

    _ Select the tenant row (don't open the Edit tenant dialog, just select the tenant row) in the Rent Center and click the "Enter" button in the Rent Amount column

    - Select the reminder in the "Bill and Income Reminders" tab below the account where the rent will be deposited and click Enter

    - If you create your own Rent Reminder, you can have Quicken "Automatically enter" that reminder in the rent deposit account


    Your rental expenses should also be recorded in whatever Quicken account the expenses were paid from (typically a checking or credit card account) ... with a rental property category and a rental property tag, assigned. Rental property expenses would be entered in a manner similar to the entry of non-rental expenses: using a Reminder, using a Memorized Transaction, or entering manually from scratch.


    For rental property transactions to be accurately tracked, they must have a Schedule E tax line item assigned. If the category for the transaction has a Schedule E tax line item (in the Category List), using that category will suffice. If you create a transaction that uses a category that does not have a Schedule E tax line item assigned, you will have to manually assign the Schedule E tax line item to the transaction (right-click the transaction and select "Tax line item assignments").


    I don't totally follow your Rent Center display. It appears you have more than one tenant for the same property. It's not clear whether they are all "current" tenants (if you have tenants who have moved out, you should Edit their Tenant data to indicate that). It's not clear whether there are multiple tenants on the lease or whether you intend to receive/record rent from more than one tenant at the same property. If you record rent received from multiple tenants for the same property in Quicken, each tenant will appear on a separate line in the Rent Center.


    To get more information for your situation with tenant "Jesue Lobaton", I suggest you create a Banking > Transaction report, and Customize it to show only Payee "Jesue Lobaton", for all accounts for the current year, and make sure Date, Payee, Category, Tag, Amount, and Tax Item are displayed for each transaction. It may be too long to display here, but you should check to be sure all appropriate transactions are present, no inappropriate transactions are present, and all appropriate transactions have the correct date, payee (exactly the same as the Tenant name), category, tag and tax item.
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • Unknown
    Unknown Member
    edited October 2018
    Becca said:


    I hope this can explain what I was talking about with having to enter the rents received and i thought it would put everything for the property here.  Can anyone tell me what I am doing wrong and why it isn't automatically putting the income and expenses for each property we only have 3?

    Thank you
    I do have an account that I put all the income and expenses into, I have had tenants and have put their lease end dates so then this weekend I went in and hid the old tenants and fixed some things but still not going into the Journal.  
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