Report Showing Expense as Income

James114

I have a report based on my credit card monthly usage.
It shows a expense as as income.
As you can see in the attached image it's showing the Tracfone payment as income even though it shows the amount is negative.
I only use 1 account in the report (Visa).

Any ideas?
James

Jim_Harman

What Category is the Tracfone payment assigned to? If it is an Income category, it will be listed in the Income section of the report.

James114

It has an unassigned Category unlike the other transactions.

Jim_Harman

OK, if you assign it to an Expense category, it should show up in the Expense section of the report

James114

Yea that worked. It was a bit confusing. I guess one must categorize transactions for Quicken to
realize the transaction is income ort debit?

Tom Young

When you establish a Category you denote it as either an income or expense item.  That governs where the Category shows up in a report and affects the sign of the dollar amount show in the report. 

Chris_QPW

James114 said:

Yea that worked. It was a bit confusing. I guess one must categorize transactions for Quicken to
realize the transaction is income ort debit?

You might think that the sign of a transaction would tell if the transaction is income or expense, but that isn't true.  Imagine you buy a shirt, that is an expense/withdraw.  Now you return it.  That is going to be recorded as a deposit, but it isn't income, it is a negative expense, as in you spent X dollars less on clothing.

Therefore Quicken needs to know the category and that category will tell Quicken if it is an expense or income.