I would like to run a report that shows the balance of each category, not just the in and outs

RedeemerOwosso

I want to know the balance of each category.

Tom Young

No, you're wrong here.  That report does give you the balances in all your Categories, and the balances in those Categories is the sum of all activity in those Categories from the beginning of your accounting records to today.  This is EXACTLY the sale as looking at a balance sheet report; every number you see on that balance sheet is the sum of all the activity in those Accounts from the beginning of your accounting records to today.

Although Quicken makes a distinction between what regular accountants call "income and expense accounts", ("Categories" in Quicken-speak), and "balance sheet accounts", ("Accounts" in Quicken-speak), there's really no distinction between these accounts, (notice the small "a"), EXCEPT how we tend to look at them: income and expense accounts show up on a "profit and loss" or "income and expense" report which looks at the account over some period of time, while balance sheet accounts are typically looked at "as of" some date.  But both kinds of accounts do have a current "balance" and that current balance is simply the sum of all the activity in each account from the start of the accounting records to "today".

Since balance sheet accounts are typically looked at "as of" some date, a balance sheet report simply lays out those balances as of the selected dates. 

Since income and expense accounts are typically looked at for a "time period", a Spending report asks for the time period to use and lays out the net activity in the accounts over the selected time period.  BUT if you use a beginning and ending period that encompasses every single transaction in all those income and expense accounts you're looking at the current balances in those accounts, just like a "balance sheet."

The balances in income and expense accounts DO exist - they have to because of the "double entry" nature of accounting - but you typically can't see those balances because they are "buried" in the "Overall Total" of an Account Balances or Net Worth report.

EDIT: This probably would have been clearer if I emphasized that you show no "intervals" in your spending report.

Tom Young

Run an Income and Expense by Category Spending report.  Make sure all Accounts, even hidden ones, are selected and set your time period from the earliest transaction date in the file to "today." 

RedeemerOwosso

Thanks Tom, I tried that but it still does not give the balance of each category. Only the inflows and outflows.

Jim_Harman

The last column of the report Tom referenced shows the balance at the end of the selected period.

Are you looking for a running balance or something else?

Tom Young

No, you're wrong here.  That report does give you the balances in all your Categories, and the balances in those Categories is the sum of all activity in those Categories from the beginning of your accounting records to today.  This is EXACTLY the sale as looking at a balance sheet report; every number you see on that balance sheet is the sum of all the activity in those Accounts from the beginning of your accounting records to today.

Although Quicken makes a distinction between what regular accountants call "income and expense accounts", ("Categories" in Quicken-speak), and "balance sheet accounts", ("Accounts" in Quicken-speak), there's really no distinction between these accounts, (notice the small "a"), EXCEPT how we tend to look at them: income and expense accounts show up on a "profit and loss" or "income and expense" report which looks at the account over some period of time, while balance sheet accounts are typically looked at "as of" some date.  But both kinds of accounts do have a current "balance" and that current balance is simply the sum of all the activity in each account from the start of the accounting records to "today".

Since balance sheet accounts are typically looked at "as of" some date, a balance sheet report simply lays out those balances as of the selected dates. 

Since income and expense accounts are typically looked at for a "time period", a Spending report asks for the time period to use and lays out the net activity in the accounts over the selected time period.  BUT if you use a beginning and ending period that encompasses every single transaction in all those income and expense accounts you're looking at the current balances in those accounts, just like a "balance sheet."

The balances in income and expense accounts DO exist - they have to because of the "double entry" nature of accounting - but you typically can't see those balances because they are "buried" in the "Overall Total" of an Account Balances or Net Worth report.

EDIT: This probably would have been clearer if I emphasized that you show no "intervals" in your spending report.

RedeemerOwosso

Thank you Tom. I see what you are saying and understand it. However, for my purposes I just wish I could get a report that says "x" took in income of "Y" and had expenses of "z", so therefore the balance is "b" all one 1 line.

NotACPA

BUT, that  "x took in Y" is going to be entirely dependent upon time frame chosen.  Even if you select "include all dates" as the time frame for your grocery expenses (for example) you're going to have grocery expenses before you started using Q.

Also, in Q, an Income Category only has expenses if you reverse an income item.  And an Expense Category (say, your groceries again) only has income if you take  something back to the store.

SO, I'm totally unsure as to what you're expecting to see on your report ... other than Income in the income categories and expenses in your expense categories. 

Because Categories  don't have balances.

Jim_Harman

So you are looking for a report that would let you select a time period and would have a row for each Category and column headings of Category, Income, Expense, and Balance? [edit: maybe Total would be a better heading than Balance because as Tom says Categories do not have balances]

The only way I know to generate that would be to start with an itemized categories report, select Update to Show and Transaction detail, export the data to Excel and manipulate it there.

volvogirl

Uh,  what is X?  Is that an account like your checking account?  Is it a specific category?  Your whole data file?  A specific person or Tag or business, Rental?

Tom Young

" I just wish I could get a report that says "x" took in income of "Y" and had expenses of "z", so therefore the balance is "b" all one 1 line. "

You're going to have to "roll your own" here, in Excel. 

I'll assume "x" is your entire file.  If "x" is really "you" instead of "spouse" then you're in for a lot of work.  Every piece of income and expense will need to be distinguished between "you" and "spouse" and if some expenditure isn't a "P&L" expenditure, e.g., a car purchase, then you're going to have to somehow split that item between the two of you.

Of course 'took in income" and "had expenses" MUST have a time span element to it.

For sake of argument I'll assume that "x" is your entire file and the time span contemplated is a calendar month.   In that case you'd run a Net Worth report with a beginning date of the 1st day of the month and the ending date as the last day of the month.  You'd specify an interval of a month.  Set "include unrealized gain" as either included or not, depending on your preference.

Take the Overall Total at the beginning of the month and put that in column A of Excel.

Run a by Categories spending report for the same period, with unrealized gain set according to how you set the balance sheet.  Put the income number in column B of Excel and the expence number in column C.  In D set the formula as A+B-C.  The result should be the same as shown of the Net Worth report.  If it's not, you've messed up.