Asset transfers not reported correctly

I transferred a large sum from the sale of an asset to my bank account; then in a separate transaction, I transferred most of that to a brokerage account. Quicken's Income/Expense reports and graphs incorrectly show these as income and expense transactions, respectively, but they should not be included in Income and Expense, as they are just transfers of assets.

What can I do about this? I am running Quicken 2020, ver. R30.14, build 27.1.30.14 on Windows 10.

[I reported this to Quicken Support nearly a month ago and have received no response.]
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Best Answer

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Accepted Answer
    Why are you including transfers in your Income/Expense reports ... because as you accurately note,  they're neither income nor expenses.  You can turn them off by customizing the report.
    Also,  what Tax Attributes do you have set for each of these accounts.  Do TOOLS, Account  List and then click EDIT adjacent to each account.  In the resulting "Account Details" dialog,  click "Tax Schedule" at the bottom of that window.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP

Answers

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Accepted Answer
    Why are you including transfers in your Income/Expense reports ... because as you accurately note,  they're neither income nor expenses.  You can turn them off by customizing the report.
    Also,  what Tax Attributes do you have set for each of these accounts.  Do TOOLS, Account  List and then click EDIT adjacent to each account.  In the resulting "Account Details" dialog,  click "Tax Schedule" at the bottom of that window.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Allan Colby
    Allan Colby Member ✭✭
    Thx for your suggestion. I wasn't able to find a way to exclude transfers specifically, and I can't exclude those accounts as they also contain income and expense transactions. However, I was able to create a 'xfer' tag and use that to exclude selected transactions; this seems to work fine.
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