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Generating a comprehensive Income and Expense report

BeDutch

One would think that such report is so fundamental for ALL users that it is part of the pre formatted Quicken reports. NOT SO. The Income and Expense report excludes (most) of the income derived from Investments. I tried to create my own by combining the Income and Expense report with the Investment Income report. I did that via first exporting each separate report into Excel and than looking for duplications and / or omissions.

Interestingly the Investment Income report shows as INCOME transfers from an Investment Account to a Checking account, but it only shows one side of such transfer. Per definition (IMHO) transfers should cancel each other out for Income purposes.

There is also a "balance forward" item shown as Income in the Investment Income Report, which totally mystifies me.

Finally the Investment Income report shows an uncategorized item BOTH in the Income and Expense side. Those are in my case caused by option trades, but it is ( to me !) totally unclear why some are uncategorized in the Income side and others uncategorized in the Expense side. ( it is not in any way related to Buying or Selling such equity options. MY opening and closing / covered sales and purchases show on both sides.

If I cannot generate a RELIABLE COMPREHENSIVE Income and Expense report (for now excluding UNREALIZED GAINS AND LOSSES), what CAN I use Quicken for?

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Comments

Bob_L

The income and expense report by category does include investment income if you customize it to include investment accounts. Did you do that?

BeDutch

Bob, I did. But it does not show. Instead I get when I open the Investment Income Report, in the Transfer section ( WHY IS THAT INCOME??? ) transfers into some accounts, but not the corresponding Transfers Out

BeDutch

Bob_L, Perhaps you can provide me a step by step sequence of how you managed the customization for inclusion of Investment Accounts in the Comprehensive Income and Expenses report. I May have done it wrong???

Bob_L

Click customize. Then go to the accounts tab and choose the ones you want included. For example you may want to exclude retirement accounts, but include non-tax deferred brokerage accounts. The report I used was income and expenses(by category).

BeDutch

Bob, I tried it again, starting with Income and Expenses by category and clicking the first of the two boxes " all accounts " . I seem to get a better result. Will need to analyze that when I am more awake than I am now (22:38 EST ) but will try during the day tomorrow. If it works I will post a larger descriptive closing comment. Thanks for your support so far.