Budgeted Income not calculating correctly

I am new to budgeting, so I wanted to start out simple. Created a new file, set up a new checking account, and started a new budget for 2022. Added income of $1000 per month. Expected to see Savings of $12,000 in the top summary, with $0 Spending, but my Savings says $9,000. There are no expenses in 2022 or Reminder amounts; it is a new file. Can anyone explain why this would be happening?

Best Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    edited April 16 Accepted Answer
    @mhoppe11

    Soooooo,  looks like you found an issue with the way that Quicken acts.  And it appears that my initial assumption, that it had to do with the current date, is correct. 

    I tried to replicate what you had done - i.e. copy the 2021 over to 2022 using the 3rd option (Copy 2021 budget categories only to 2022) and it produced the same result - namely the 9,000 in "Savings" rather than 12,000.  So then I went to my system clock and manually changed the date to 1/1/2021 and this is what I saw:



    So, apparently the issue is that Quicken uses the current date when it produces that graph and this causes it to incorrectly calculate the "Savings".  I clearly understand using the current date for that calculation in the current year budget, but to also use that same date to calculate "savings" in any projected year seems wrong to me.

    Frankx


                           Quicken H&B-Subscription - Windows 10 Home - Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
  • Quicken_Tyka
    Quicken_Tyka Alumni ✭✭✭✭
    Accepted Answer
    Hello all,

    I have a small update. An official ticket has been opened for this issue. I do not have an ETA for resolution, however, I will provide updates as more information becomes available.

    Thank you for reporting this issue to the Community!

    -Quicken Tyka

    CTP-2046
    ~~~***~~~

Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @mhoppe11

    I suspect that your budget is showing 9,000.00 instead of 12,000 because you just started the budget this month (April) and the total income for this year includes only (even though you post indicated 2022) 9 months - not 12 months.

    Frankx


                           Quicken H&B-Subscription - Windows 10 Home - Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
  • mhoppe11
    mhoppe11 Member
    Hi Frankx. I did a 2022 budget for exactly that reason...wanted to take the date out of the equation. I do have all 12 months set at $1,000, and the total 2020 Budget Summary shows $12,000. But in the summary graph at the top of the page, it shows a Savings of only $9,000.
  • mhoppe11
    mhoppe11 Member
    Here is a screenshot of my setup.
  • mhoppe11
    mhoppe11 Member
    Trying again to post screenshot.
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    edited April 16
    Hi again mhoppe11

    Okay, can you tell me which choice you used when you copied the 2021 budget to 2022?  The choices were as shown below:



    Frankx


                           Quicken H&B-Subscription - Windows 10 Home - Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
  • mhoppe11
    mhoppe11 Member
    I used the bottom option, so that I would only copy categories and not $ values, even though it is a completely new file with no history of any transactions.
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    edited April 16 Accepted Answer
    @mhoppe11

    Soooooo,  looks like you found an issue with the way that Quicken acts.  And it appears that my initial assumption, that it had to do with the current date, is correct. 

    I tried to replicate what you had done - i.e. copy the 2021 over to 2022 using the 3rd option (Copy 2021 budget categories only to 2022) and it produced the same result - namely the 9,000 in "Savings" rather than 12,000.  So then I went to my system clock and manually changed the date to 1/1/2021 and this is what I saw:



    So, apparently the issue is that Quicken uses the current date when it produces that graph and this causes it to incorrectly calculate the "Savings".  I clearly understand using the current date for that calculation in the current year budget, but to also use that same date to calculate "savings" in any projected year seems wrong to me.

    Frankx


                           Quicken H&B-Subscription - Windows 10 Home - Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
  • mhoppe11
    mhoppe11 Member
    Thank you Frankx for helping me come to the conclusion that I'm not crazy. Not sure if Quicken monitors these conversations for potential bugs or not, but I will continue on my budgeting quest knowing this "feature". :smiley:
  • Quicken_Tyka
    Quicken_Tyka Alumni ✭✭✭✭
    Hello @mhoppe11

    Thank you for taking the time to visit the Community to report this issue. I have been able to successfully recreate this issue and have reported this as a bug. I will be back with an update as soon as I have more information.

    Thank you!

    -Quicken Tyka

    ~~~***~~~
  • Quicken_Tyka
    Quicken_Tyka Alumni ✭✭✭✭
    Accepted Answer
    Hello all,

    I have a small update. An official ticket has been opened for this issue. I do not have an ETA for resolution, however, I will provide updates as more information becomes available.

    Thank you for reporting this issue to the Community!

    -Quicken Tyka

    CTP-2046
    ~~~***~~~
  • James J
    James J Member ✭✭
    For what it's worth, I tend to build the budget in excel first, then copy everything over to Quicken.
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