splitting income transactions results in bank report of uncategorized expenses
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Please read and try this:
Intermediate deposit account for H&B (a.k.a.
"Suspense Account"):When you receive
multiple payments by check per day but only make one summary deposit to your
bank ...- Create a cash (or
manual checking [*]) account, named something like "Checks to
Deposit" with an Opening Balance of $0.00- When filling out
the New Customer Payment form, deposit the check to "Checks to
Deposit" instead of your regular bank checking account.- At the end of the
day, tally up all checks on your deposit slip. In Quicken, in the "Checks
to Deposit" account make a transfer transaction "Daily Deposits"
in the amount of your deposit slip. Put the amount into the Payment column. As
category choose your checking account, surrounded by [square brackets], e.g.
[ABC Bank Checking]. Verify that this reduces the balance in the "Checks
to Deposit" account back to zero (or you have made a mistake somewhere
along the way).
[*] During the Add Account dialog, choose a checking account and, on the next
screen, click on the words "Advanced Setup" then finally choose
"I want to enter transactions manually".
A similar process applies to Rents Received in the RPM feature. Deposit rents received using the proper dialog and send them to the "Checks to Deposit" account instead of your regular checking account. No complicated Splits dialog necessary.
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UKR, this may be good advice for a business, but these are the only two checks I deposit together each month. So it would seem to be way more work for me. I think I just need to understand what I'm doing wrong.0
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Holy moly! I just realized that every time I clear the splits to try again, the register entry is increasing the total amount!0
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Is the secret that I have to erase the topmost total line that a split starts with? (I don't see a way to delete the line itself.)0
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I'm not sure how you're accounting for rents received for these 2 units, but the transaction you're entering doesn't show the deposit to your bank account, which is why it doesn't balance.
You should be accruing rents due and then crediting the amounts when they are paid and deposited somewhere.Quicken 2017 Premier - Windows 10 Pro0 -
If you enter a transaction into the register with an amount, and then split the transaction, Quicken puts the total in split line #1. To enter the individual items in the split, you should start by overwriting line 1 with the first item. Quicken will helpfully put the remainder in line 2. Continue to overwrite with the correct amounts until the last line contains the amount of the final split item.Is the secret that I have to erase the topmost total line that a split starts with? (I don't see a way to delete the line itself.)
The other approach is to enter the transaction in the register without an amount and then split it. The split lines will be empty and you can just fill them in and Quicken will calculate the total.Quicken user since version 2 for DOS, now using QWin Biz & Personal Subscription (US) on Win10 Pro.
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Oh. That explains it. Thanks. I'm half way there.Is the secret that I have to erase the topmost total line that a split starts with? (I don't see a way to delete the line itself.)
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Rich, I'm not understanding. (This is my first week with Quicken.) The register automatically populated with two combined deposits--one via an ATM and one deposited directly at the bank counter. Those are the two lines I split. Am I supposed to do something else?0
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Sorry, I didn't explain that very well. If each rent check was deposited separately, one through an ATM and one at a teller, then you should record these as two separate deposits in your bank account, this is the way it will show up on your statement.
In this case you do not need a split transaction. Make a register entry for each check, identifying the payees and categorize and tag them as you did in the split shown.Quicken 2017 Premier - Windows 10 Pro0 -
I think I got it now, thanks!0
