Has anyone experienced this on reports? QMac

mta
mta Member ✭✭
edited June 2019 in Reports (Mac)
Travel is an expense category and should appear in reports as such..here’s the problem..i received refunds/credits that totaled more than I spent thus creating a credit balance in the travel category..because there’s a positive balance in the travel category it appears in the income portion of the report inflating your income and that is incorrect. You should be decreasing your expenditures not inflating your income.......
Perhaps a bug?
Called tech support said I had to report the problem and post here

Best Answers

  • mta
    mta Member ✭✭
    Accepted Answer
    Thank you.......I totally agree.....will try your suggestion in the morning👍🤗

Answers

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    In that Travel category, when were the actual expenses?  When were the refunds/credits?  What period does the report cover?  Which report.
    BECAUSE, if the refunds/credits were the only transactions (or the predominant dollar value during) the period of the report ... then yes you have a Credit balance in that time period for your Expense category.
    And no, it's not a bug ... it's how accounting works.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • mta
    mta Member ✭✭
    Category Report, 1/1/19-12/31/19....All transactions 2019 and I do not disagree with your second paragraph. The category shows a credit balance as it should. However...the placement of the travel category with the credit balance is incorrect. Technically it is money in but It is not income and should not be part of the Income portion of the report...and no, that is not correct accounting practice. Why would you overstate your income?
    FYI. Quicken/ Quickbooks user since 1988 on both platforms...using Q Mac Premier edition currently
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited June 2019
    Sorry, but you're simply wrong. If an expense category has a credit balance it IS included in the income side.  Just as an Income category with a Negative balance would be on the expense side.
    You have received, during the period of the report, more money that you call "Travel" than you've paid.  That's income.
    And, look at the last line of my signature.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • mta
    mta Member ✭✭
    Accepted Answer
    Thank you.......I totally agree.....will try your suggestion in the morning👍🤗
  • mta
    mta Member ✭✭
    Jacobs..... worked like a dream...thank you
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Great! 👍
    Quicken Mac Subscription • Quicken user since 1993
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