Bills and Income question (Q Mac)

K1_

I made a post of a bill to be paid in the future under bills and income. It also showed up as income. Why is that happening?

Quicken Jared

K1_ said:

I made a post of a bill to be paid in the future under bills and income. It also showed up as income. Why is that happening?

Hello @K1_, 

I am sorry for any confusion or frustration you may have experienced. Thank you for getting in touch with the Quicken Community regarding the subject of setting up bills in the software.

First, are you creating manual or online transactions? Regarding your question, bill and income entries would be entered at the same time when set to do so. Specifically, one would go into the Bills & Income tab, then go into the Actions column and click the tiny circle containing the three dots. You would then select Edit All Instances... and under Mark as Paid, choose automatically from the drop-down menu.

I am attaching the following screenshot as a demonstration of this route to creating bills and income entries at the same time.



Would you be able to post a screenshot of what you see when creating a bill, if possible? I am also linking the following thread to explain how to submit screenshots on the Quicken Community:

https://community.quicken.com/discussion/7663259/faq-how-do-i-post-a-screenshot-in-the-community-from-a-mac

I look forward to corresponding further about this, and hope to hear from you again. 

Thank you,

Quicken Jared 

K1_

First I am creating manual transactions. I just took a screenshot of my expense and how it showed up as income also. I do not know how to get the screenshot on this note. Since my last update this has started happening to any new expenses i try to allow for. I can see that I will need more time than I have today to get this screen shot information to you.

Quicken Jared

K1_ said:

First I am creating manual transactions. I just took a screenshot of my expense and how it showed up as income also. I do not know how to get the screenshot on this note. Since my last update this has started happening to any new expenses i try to allow for. I can see that I will need more time than I have today to get this screen shot information to you.

Hello @K1_, 

Thank you for continuing to follow up with me, and for providing additional information regarding the situation. 

Please note that you can also attach screenshots by dragging and dropping them into the body of the comment you are posting, as well.

I hope this is helpful, and look forward to hearing more from you.

Thank you,

Quicken Jared 

K1_

Hello Quicken Jared,
I have a screen shot of the income side and also the bill side. I don't know why when I added this bill it also added one as income. That is what I wanted to know. It had never done this before the last update.
Thanks, K1_

jobworker

Hi @K1_
just a quick question. Is this a Split transaction?

K1_

Hi jobworker,

I had two original bills, each for the same amount. So I am saying that when I first set it up there were only going t be two payments. The first one has been paid and I still owe the second one. Hope this helps.

jacobs

@K1_ In your screenshots, one shows Type=Income and one shows Type=Bill. Can you change the one which shows Income to Bill? 

I'm still a little confused about the transactions you're showing in the screenshots. You said you had two identical bills to be paid, but you're showing two scheduled transactions. Scheduled transactions are for recurring expenses or income, so if you had two bills to be paid, you could have set it up as one scheduled transaction ending after the second payment. Or you could have set it up as two regular (not scheduled) payments on different dates. But here you seem to be showing two scheduled transactions, so I'm unclear what you entered and why.

Since both transactions are transfers rather than categories, Quicken can't use the category to determine whether the transaction is income or expense, so it's using the flow of the transfers to make that determination. It labeled the transfer to your checking account as income, because it's an inflow of money, and it labeled the transfer out of checking to be an expense. But those labels don't actually matter here, because these are both transfers, and transfers are neither income nor expense when it comes to a category (income & expense) report. but if these are identical bills, you need to change the Type=Income one to Bill, or delete that transaction and change the schedule on the other one to cover the two payments you need to make. 

K1_

Hi Jacobs,

I had two identical bills coming to me, so I set the up as a scheduled transaction that ended after the second one was paid. After I set up the scheduled transaction, when I looked at scheduled income I saw that there was an income transaction for the same vendor for the same amount. I did not enter this as scheduled income.
One of the scheduled bill transactions has been paid already and there should be only one left to be paid. Yet one still shows as income. Maybe it has to do with transfers, but I use transfers when paying credit bills also and they don't add an income item.

jacobs

Are you saying that you only entered one transaction, a scheduled transaction with two instances? I'm not understanding where the other transaction came from in that case.

If these is a scheduled transaction which is a transfer, you can open the schedule window, as you have shown in your screenshots, from the account which originated the transfer, but you cannot open it from the other (receiving) account. Yet you're showing scheduled transactions in both accounts, which seem to indicate you create two separate transactions. 

In any case, can you simply change the Type to Bill on the one currently labeled Income? 

And when you say "t shows as Income" are you just talking about the Type field on the schedule transaction, or its there anywhere in Quicken that this transfer amount is actually showing up as income?

K1_

jacobs,
That is exactly what i am saying. I entered a scheduled transaction with 2 instances. I DO NOT KNOW whether the other transaction shown as scheduled income came from. The scheduled income is not showing up anywhere because it is still scheduled and I will be deleting it.