How do I label reimbursements for home insurance loss?

barryks4rt
barryks4rt Quicken Windows Subscription Member
edited December 2022 in Registers & Transactions (Windows)
Check was sent to me, but I will need to pay money for repairs.

Answers

  • Jon
    Jon Quicken Mac Subscription SuperUser, Mac Beta Beta
    I would create a special income category for that. They're not taxable income so I wouldn't want that money lumped in with other income categories.
  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    How did you record the repairs to your house? I'd use the same category for the reimbursement, so that the 2 would offset each other.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • Tom Young
    Tom Young Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Or, instead of a "Category", create an "Account" that receives the other side of your deposit entry.  Then, when making payments out of your checking Account for the repairs, use that same Account as the other side of those transactions.  That keeps it out of your Income & Expense or Current Budget reports.
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