Budget screen is subtracting income

L Battaglia

I have Quicken Classic Deluxe R53.16. I created a new budget for 2023 and for 2024. All budget numbers are entered as positive numbers. Groups are Personal Income, Personal Expenses and Income. Budget is correctly subtracting Personal Expenses items from Personal Income items BUT is also subtracting Income items from that total. Also weird that Personal Income group line totals items in that group as does the Personal Expenses group line BUT Income group line shows zero. As an example for January 2023, Personal Income items is $3,586, Personal Expense items is $7,725 and Income items is $1,200. So, the total line should show ($2,939) but shows ($5,339).

UKR

Sometimes a picture is worth a thousand words …
Can you please capture one or more images of the parts of your Quicken window showing the issue, sensitive information blacked out as necessary to protect your privacy but annotated to describe the situation, and attach the image(s) here?
How do I post a screenshot in the community from windows

How do I post a screenshot in the community from a mac
Please save images to files of file type PNG, JPG, or GIF only. They're easier to work with than PDF files.

L Battaglia

While i was preparing to get you a screen print, i found the software bug. The last Group takes the amount of the Category as an expense even if the Category is an Income item. Plus the Group line does not total the dollars in that Group as it does in all the other Groups.

In the Category "Income", it totals the 10+20+30 to show 60 and that would also be on the Totals line if those were the only line items. BUT, if you add 40 and 50 for the two items in "Income Group", not only does it NOT show 90 on the Group line but it SUBTRACTS 90 instead of ADDING 90 and shows a negative 30 on the Totals line.

For what I need, I will keep an obsolete Category in the Income Group and it will not have a budget amount nor actual amount.

But this software bug should be fixed by Quicken.

UKR

Please show us the category and subcategory definitions of "Income Group", as shown in Tools / Category List, with all columns of the view.

L Battaglia

Here is the categories in Income Group. Hope this helps:

UKR

A Category Group, like "Income Group", should not (cannot?) contain a mix of categories defined as either Income or Expense. One Type only. Edit "Gain (Loss) on Coin Sale" as Income and see if that makes a difference.

L Battaglia

I switched the Gain (Loss) account out of Income Group to the Expenses group as you suggested and it looks like that solved the problem. Now it takes money I put in Other Inc as a positive amount for the Totals line and also shows the dollars on the Income Group line.

Thank you for all your help.

How do you handle the principal amount of loan payments? My budget should account for the full monthly payment on my car loan and home loan but since the loans are liabilities and not income/expenses, they don't show up as they are the Type of "Transfer".

UKR

How do you handle the principal amount of loan payments? My budget should account for the full monthly payment on my car loan and home loan but since the loans are liabilities and not income/expenses, they don't show up as they are the Type of "Transfer".

You can make the principal amount of loan payments visible in your Budgets views by going into "Manage Budget Categories".
Select the loan account name from the list of accounts shown in the "Transfers Out" sidebar tab.

Ditto for your escrow account register.
Interest is already categorized to some expense category like "Loan:Interest"

L Battaglia

Not only is the principal payment not appearing but the interest split does not appear nor the impound property taxes and impound home insurance in either the Current Budget report or the Historical Budget report. I got my budget into Quicken and it balances to my spreadsheet i was using and that is where i am stopping. I don't want to waste any more of your time.

Thanks for all your help.

UKR

How do you record the loan payment transaction in Quicken?
The download from the checking or mortgage account doesn't have any information about Splits for principal, interest and escrow monthly withholding.

For best results, maintain the mortgage account as an "offline" (deactivated) account and use the Scheduled Reminder, created by Quicken during the Loan Setup process, to record the Splits into the correct budget buckets: principal transfers to the mortgage register, interest to a category like Loan:Interest and escrow transfers to a separate Escrow account.
Record the reminder on or before due date in your checking account. Next time you download transactions into the checking account, Quicken will see the existing payment transaction in the register and match the downloaded payment confirmation to it.
When the mortgage company pays insurance or taxes once or twice a year, these payments must be recorded separately in the escrow account, as per the monthly mortgage statement.