How to make a report to view Financial Advisor Expenses

Can someone tell me how to create a report that would show all expenses/cost related to Financial Advisor category in my Investment account?

Answers

  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    edited September 2020
    Hmmmm.... not sure how - since on the "Investment" accounts you are probably just seeing those fees deducted from the holdings as "sold" - and you don't have the same types of fields to track things as avail with the "Banking" types of accounts.
    SO... how are those fees represented in the Quicken register for those accounts ?
    Quicken Subscription - Windows 10
  • Hi,

    Thanks for your reply.

    I just create a sub-category: Financial Advisor, under Financial.
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    All you need to is to create a Spending report that includes that Investment Account as a "source" of information, (customize report, click on Accounts tab, make sure that Account is selected), and then restrict the Categories picked up by the report, (customize report, click on Categories tab, make sure only that sub-Category is selected), and you've got what you seek.
  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    edited September 2020
    Just to help me see the light -
    how do you setup a "Category" within an Investment Account transaction -
    like from a brokerage or mutual fund -
    I can see the "Category" in the --> Reports --> Investing --> Investment Transactions -
    But I don't see where or how you do that to track "expenses" ?
    Here is my old 529 Fidelity account - with the $5.00 fee being extracted



    Quicken Subscription - Windows 10
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    edited September 2020
    What you've posted here is a sale of stock resulting in $5.00 being deposited into the same Account in which the sale occurred.  Within the transaction list itself the sale should have been reported as a SoldX action, resulting in the share balance being reduced but with no effect on the cash in the Account.  The cash "magically" disappeared.  Well, it wasn't magic, it was Quicken's programming trick, frequently called a "one-sided" entry.
    You should have entered this transaction with the proceeds recorded "To this account's cash balance."  Then you'd expense that $5 with a MiscExp action.

  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    edited September 2020
    Tom Young said:  The cash "magically" disappeared.  Well, it wasn't magic, it was Quicken's programming trick, frequently called a "one-sided" entry.
    You should have entered this transaction with the proceeds recorded "To this account's cash balance."  Then you'd expense that $5 with a MiscExp action.

    Interesting....  this is what appears for both our 529 account and our 403b account.
    This was how the transactions were downloaded and posted.
    I can see how the magic would happen - the acct "sells" the $5.00 worth and it just disappears into the brokerage fee...
    I also can see how you would suggest to change the X button - and place the proceeds into the cash balance - and then manually add a transaction to expense that fee into a reportable transaction.  
    I was getting hung up on the mentioning of a "Category" entry -
    when I could not see a physical way to actually enter or modify the transaction to add the "Category" -

    Quicken Subscription - Windows 10
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    edited September 2020
    "I can see how the magic would happen - the acct 'sells' the $5.00 worth and it just disappears into the brokerage fee..."
    From an accounting standpoint the $5 disappears from your net worth, just like your net worth would decrease by $5 if you ran that $5 through some sort of fee.  Your balance sheet is correctly stated in either case, but you can't "prove" the change in net worth by reference to what went on in your income and expense statement.
  • Hi,

    Thanks for your reply. I was not familiar with spending reports.

    Can you tell me if there is a way to sub-total the spendings by months without a graphic, i.e. just the numbers in regular fashion way.

    Thanks,
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    I'm not sure exactly what context you're thinking of here with your question about Spending Reports.
    If you create a Spending report - let's use the "Income and Expense by Category" report as our example - and select a multi-month date range, e.g., "Year to date", then you can see "monthly" figures by selecting Month in the "Interval" box, and you can include or exclude the graph by clicking on the "Show Graph/Hide Graph" button.
    If you bore down into the detail of one particular Category - I clicked on the Overall Total Int Inc - then in the resulting detail report you can select to subtotal by month.


  • Hi Tom,

    My problem is that I can't subtotal by months. Where do I click to get to Int Inc?
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Are you saying you want to see the detail behind the "Financial" Category, subtotaled by month?
    If that's the case then click on the Overall Total on the "Financial" line and that is where the detail behind the monthly summary numbers - $266.79, $37.50, etc. - will be displayed, similar to my second picture above.
  • Hi Tom,

    Thanks for your patience helping me.

    I have finally succeeded creating me report. Note however that I have to double-click on the Total of Financial Advisor when the magnifying glass appears.

    Regards
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