When changing a "Withdraw" Action to a Miscellaneous Expense, it still shows as "Withdraw"?

Jerry_
Jerry_ Quicken Windows Subscription Member ✭✭✭✭
My new brokerage firm is downloading  a foreign tax expense  designated as a "Withdraw"  (Action).like so:
                        Date         Action        Security         Description -----------------------------------

Now, if I double-click the transaction, I am taken to this Window where I can change the action to Miscellaneous  Expense like so:

After I select the Enter/Done Button, Here is what the transaction in the Investment Register looks like:
                        Date         Action        Security         Description ---------------------------------------

Now, when I highlight the above transaction, it appears as such:
                        Date         Action        Security         Description -----------------------------------------

It seems to only affect the appearance of the transaction line; for when I double-click again, the Edit Miscellaneous Expense Window reappears showing the Action as Miscellaneous Expense. 

In the meantime, I just create a new Miscellaneous Expense entering the data  for the foreign tax from the Edit Miscellaneous Expense Window above shown, and delete the Withdraw transaction..

Does anybody else have this behavior?

Running on the Quicken Windows Premier Subscription Plan
Retired - former Computer System Analyst

Best Answer

Answers

  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Off the top I believe I have seen that behavior possibly for a couple of years. I use the same fix== delete and re-enter as I want it. 
  • Boatnmaniac
    Boatnmaniac Quicken Windows Subscription SuperUser ✭✭✭✭✭
    I'm not sure I understand your concern.  "Misc Exp" is a general catch all bucket action that can be used for a number of different things...all of which are investment expenses (i.e, tax impact related).  It's simply a withdrawal of cash to pay for something related to your investments.  So, "Misc Exp" is the correct action for this kind of transaction.
    But "Withdraw" is also a valid action for this type of thing because a "Misc Exp" is a withdrawal. 
    Either way, neither one has anything to do with tax classification.  That is controlled by the category and the category appears to be correct.
    So, what am I missing here?

    Quicken Classic Premier (US) Subscription: R60.15 on Windows 11 Home

  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭
    From my seat, it is not a big deal, but I prefer some uniformity.  If I've used MiscExp before for that type of transaction, I'd like to continue to do so.  

    While it appears one can simply edit the transaction and change the action to MiscExp from Withdraw, the reality is that the action does not change even though other aspects (like category) do change.  Thus the irritant.  In other cases, Quicken will not let you "save" an improper change.  In this case, no objection from the program.  It just doesn't do what you told it to do.    
  • Jerry_
    Jerry_ Quicken Windows Subscription Member ✭✭✭✭
    Guys, I just don't like the appearance that is shown on the transaction line. In my  case, when my transaction is high lighted, the description field is confusing.

    Any reports generated are correct. The correct figure is place in the correct category.

    Running on the Quicken Windows Premier Subscription Plan
    Retired - former Computer System Analyst
  • Jerry_
    Jerry_ Quicken Windows Subscription Member ✭✭✭✭
    q_lurker, thanks for your observation.

    I think that the Program should either show the change of Actions correctly on the Transaction Register Line or flag such a change from a Cash.to Investment or Investment to Cash as Invalid via a Dialog Window. :D  

    I have enough problems with changing Dividends or Interest Transactions to Tax-free Ones. But that is another story. :D

    Running on the Quicken Windows Premier Subscription Plan
    Retired - former Computer System Analyst
  • Brian Cross
    Brian Cross Quicken Windows Subscription Member
    When a fee comes in as a withdrawal, the solution is to click on the transaction in the transaction list and remove what is in the Payee field. Quicken will automatically change it to a Miscellaneous Expense when you save it.

    Similarly, if you add a Payee to a Miscellaneous Expense, Quicken will automatically change it to a Withdrawal when you save it.

    I agree this is very confusing because if you try to use the edit window to correct this, the Payee field does not even show up in the window.
  • Brian Cross
    Brian Cross Quicken Windows Subscription Member
    Correction:

    When a fee comes in as a withdrawal, the easiest solution is to click on the transaction in the transaction list and remove what is in the Description column (which is actually the Payee field). Quicken will automatically change it to a Miscellaneous Expense when you save it.

    Similarly, anytime you add a Payee to a Miscellaneous Expense, Quicken will automatically change it to a Withdrawal when you save it.
  • Jerry_
    Jerry_ Quicken Windows Subscription Member ✭✭✭✭
    Brian,

    I just received a chance to apply your "work-around" to an investment transaction denoted as a Withdrawal. I erased the contents in the Description Column while in the Transaction List and saved the transaction, Sure enough, the transaction became a Miscellaneous Expense. I then edited the transaction to enter the Name of the Security which was blank - optional entry. It was still denoted as a Miscellaneous Expense when I saved the transaction.

    Thank you for an easy work around.

    Running on the Quicken Windows Premier Subscription Plan
    Retired - former Computer System Analyst
  • crabassa
    crabassa Member ✭✭
    edited April 2022
    This fix is very tedious.
    As a known glitch, can it please be fixed
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