Why is my cash basis report missing income?
I use quicken home business & rental property and have multiple tenants. I ran a cash basis report on income and expenses to prepare my income taxes. I received a payment from a housing assistance program in excess of 15K during 2022 for 1 tenant. The payment was applied to invoices from the current and prior year. My year end income on the property only shows about 7700. The invoices and payment all show cleared in the register. I have checked that all accounts, categories, tags, and transaction types in the customization window have been selected. I have checked every payment for the year that they were properly applied to invoices and had no unapplied remaineder. Several other tenants accounts do not show income that matches their payments. The only thing that should be missing is payments of security deposits. This is a big deal because had I not caught it, I would have under - reported my income and underpaid my taxes which could result in significant penalties.
Answers
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It took quite a while and 2 hours on the phone with quicken support didn't find it, but I stayed on it till I figured it out. There was one invoice that was paid that did not have a category (a bounced check fee). Nothing after that invoice was included in my totals. Once a category was assigned to that Item all the other items paid after it appeared in the totals. If you're doing scheduled reminders and having them put on an invoicing account make sure they are going in with a category as well. No category = not on any reports by category and possibly screwing up other items with a category.0
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After thinking about this, I think this is a bug in quicken. I can see it not including the entry with no category in the category report, but ignoring the correct category on other invoices with a proper category on them is a flaw. A check of the invoices on customer accounts and warning about un-categorized entries would also be a helpful feature.0