How to get the rental categories to show up in business income reports

CoolHandJoe
CoolHandJoe Quicken Canada Subscription Member ✭✭
edited May 2022 in Business and Rental Property Tools (Windows)
I have Quicken Home and Business 2019 R22.11. I'm using it for a rental property I have and have included the rental categories that were available. I've just entered 5 years of rental income using the business invoices and received the rent into the "Rents Received" category under the Rental Income category. However, when I run a profit and loss or a balance sheet there is no income and the rental expenses don't show up either. How do you get the rental income and expenses to show up in the business reports? I checked the reports and all the accounts are selected. Any advice? Can I make those rental categories show up in my business reports or will I have to re-categorize all the Rental categories into Business categories?
Thanks all.

Joe

Comments

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    What Schedule  E tax line to you have attached to those rental categories?
    Because it's via the Tax Line that Q determines what's business vs what's personal

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • CoolHandJoe
    CoolHandJoe Quicken Canada Subscription Member ✭✭
    It's the tax line that is associated with the pre set category. "Rental:Gross Rent". Looks like the Business Expenses and Income are all prefixed with "T2125 Business:". Should I find the equivalent business tax line items for the rental and change them in the Rental categories? What a puzzling thing. The rental income doesn't show up under the personal reports either. I wonder if they're just in there for people in the US who can use the property management module. Seems like the rental categories that should have made my life easier are really just an additional complication. Maybe I should try to make it work with the Business Categories and phase out the "faux" rental categories. What do you think
  • UKR
    UKR Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Note: @CoolHandJoe uses Quicken Canada 2019.
  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    UKR said:
    Note: @CoolHandJoe uses Quicken Canada 2019.
    AAAHHH, since the OP didn't mention a country .. I mistakenly assumed Q US and US tax forms. SORRY!

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • CoolHandJoe
    CoolHandJoe Quicken Canada Subscription Member ✭✭
    NotACPA I believe that even though there's no schedule E your information has illuminated what I need to do. Cheers.
  • UKR
    UKR Quicken Windows Subscription SuperUser ✭✭✭✭✭
    since you're one of the few Canadian users with activity in Rental Property Management could I trouble you to capture a screen snapshot of the Category List, showing all your Rental categories together with their tax line assignments (or Canadian equivalents) once you're done with setting things up?
    This might help other Canadian Q users in the same situation.
    Thank you.
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