How do I record a negative amount in Misc Exp? (edited)

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NebularNovice
NebularNovice Member ✭✭
edited September 2023 in Investing (Windows)

How do I record a negative amount in Misc Exp?

I just had a foreign dividend transaction which includes foreign withholding (and a custodial fee). That is initially done as dividend income for the dividend, misc exp for a tax withheld category (Tax:Foreign Tax Withheld) and investment expense for the custodial fee.

Now they have reversed the dividend (to do a different set of amounts). How do I reverse the misc exp and investment expense? Q accepts a negative dividend amount, but negative numbers do not work for misc exp or investment expense. They just get changed to positive.

I must be missing something obvious, but I couldn't find any discussion on this here.

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  • QWinUser
    QWinUser Member ✭✭✭✭
    edited August 2023 Answer ✓
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    @NebularNovice - to create a "MiscInc" transaction, you would use an "Inc - Income" transaction. Towards the bottom of the input screen, you will see a place to put in a "miscellaneous" transaction. Simply choose the category you need and put in the amount. I think you need to put in the amount first and then the category for it to work.

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Answer ✓
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    And to get to the dialog that @qwinuser shows above, click on Enter Transactions and select Inc-Income.

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  • QWinUser
    QWinUser Member ✭✭✭✭
    Answer ✓
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    @NebularNovice - The MiscInc transaction usually shows as a "Deposit" if you have the "Payee" field filled in. If you blank out the "Payee" field it should then show as "MiscInc".

Answers

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
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    Use a MiscInc transaction instead of MiscExp. With the same original category.

  • NebularNovice
    NebularNovice Member ✭✭
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    I was going to quote Homer Simpson. Then I realized I did not use a MiscInc transaction type because I did not see it in the menu. How do I get a MiscInc transaction?

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
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    If the original transactions are incorrect, you could edit them to use the correct values or delete and replace them with the correct transactions.

    Rather than rejecting answers, please explain why you don't like them.

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  • NebularNovice
    NebularNovice Member ✭✭
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    I didn't reject the previous answer. I asked how to implement it. If I can enter MiscInc, that is a good solution, but I can't see how to do it. (Apparently I should have skipped the humor and just asked the question.)

    I will explain my rejection of your suggestion: it gets too far away from the listing of transactions in Vanguard. I would be removing 6 transactions. It is also a slippery slope in principle. I like Q to represent history as well as possible.

  • QWinUser
    QWinUser Member ✭✭✭✭
    edited August 2023 Answer ✓
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    @NebularNovice - to create a "MiscInc" transaction, you would use an "Inc - Income" transaction. Towards the bottom of the input screen, you will see a place to put in a "miscellaneous" transaction. Simply choose the category you need and put in the amount. I think you need to put in the amount first and then the category for it to work.

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Answer ✓
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    And to get to the dialog that @qwinuser shows above, click on Enter Transactions and select Inc-Income.

    QWin Premier subscription
  • NebularNovice
    NebularNovice Member ✭✭
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    Thanks to both. That does put it in as a deposit, but I can live with that.

  • QWinUser
    QWinUser Member ✭✭✭✭
    Answer ✓
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    @NebularNovice - The MiscInc transaction usually shows as a "Deposit" if you have the "Payee" field filled in. If you blank out the "Payee" field it should then show as "MiscInc".

  • NebularNovice
    NebularNovice Member ✭✭
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    Thanks. Payee was apparently hidden because I changed an existing entry. Once I started a new transaction as Miscinc, it stayed as Miscinc. (It actually flips to the Income transaction entry in the middle, but displays in the register as Miscinc.)

    I also discovered that if I just enter Miscinc in the action column, I get to the same place. (Or if I type M, the dropdown menu includes Miscinc.) Lots of things hidden around here — to be discovered from answers in here.)

  • QWinUser
    QWinUser Member ✭✭✭✭
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    You will find that there are many different options and ways to enter transactions into Quicken. That does make it confusing, but also it allows for flexibility for the user. That is why Quicken is a very complex program. It also makes it a challenge when you get answers in this Quicken forum. Each user has "their way" to get a task done, which may not agree with another's, but ultimately it does get you to the same place. You are right about the "hidden" things that are not documented. It's like an Easter Egg hunt, but sometimes it can be like a mine field.

This discussion has been closed.