Is there a way to add a label to all accounts? Example "Real Estate","Precious Metals","Stocks" etc

JimT29

Is there a way to add a label to all accounts? Example "Real Estate", "Precious Metals", "Stocks" etc

And then get a Net Worth Report by label?

Example:

Not Worth:

20% Real Estate

20% Precious Metals

20% Cash

40% Stocks

jacobs

There is no way to label an account as produce a Net Worth report showing the percentage of the total for each label. There is no way to label accounts other than by editing their names.

As I mentioned before, most users who want to look at their asset allocations do so via reporting available for Investments. Most people would not have separate accounts for each type of investment. They have securities within each account, each of which is automatically or manually assigned to an asset class or mix of asset classes. If you truly have separate accounts for each type of investment you have, then you need to make them investment accounts with a single security belonging to the proper asset class.

But the problem you’ll run into is that Quicken Mac, unlike Quicken Windows, does not allow users to create their own asset classes. So if you have gold bricks and want to see that investment reported as precious metals, there’s no way to do that in Quicken Mac.

jacobs

Are you talking about accounts or investments? You can label individual accounts any way you wish. But that won't affect the Net Worth report other than labeling the accounts. What you're asking for is some way to categorize accounts as different classes of assets. That doesn't exist.

With your holdings in investment accounts, you can get an asset allocation report, both in the investment dashboard and in the Portfolio view. But… it only uses the 7 asset classes built into Quicken Mac; there is no way to add your own asset classes to customize the types of securities you own.

JimT29

I mean labeling an account and pulling a net worth report by account label. Looks like that can't be done. Thanks.

NotACPA

What do you mean by "account label"? How does that differ from the account name?

And in your example, "Real estate", "Precious Metals", "Cash" and "Stocks" are INVESTMENTS … not accounts.

So, please elaborate upon your request.

JimT29

Account name might be "checking account" or "HSA account", but the label might be "Cash".

Or on 3 accounts - "Metals Account #1", "Metals Account #2", "Metals Account #3", I want "Precious Metals" as a label.

I'm trying to do a Net Worth report by label/type of account/investment type/whatever you want to call it.

For Example:

My Net Worth is broken down like so:

10% is in Cash

10% is in Life Insurance

20% is in Real Estate (currently I have an Asset account and Liability account for each property I own)

20% is in Precious Metals 

20% is in Stocks

20% is in Syndications

So it would be nice to be able to put a label (this account is "Cash" or "Life Insurance" or whatever) on each account to make that easier, but doesn't sound possible.

So I will just do it manually .

NotACPA

OK, now you're getting QMac specific … and beyond my knowledge level.

jacobs

There is no way to label an account as produce a Net Worth report showing the percentage of the total for each label. There is no way to label accounts other than by editing their names.

As I mentioned before, most users who want to look at their asset allocations do so via reporting available for Investments. Most people would not have separate accounts for each type of investment. They have securities within each account, each of which is automatically or manually assigned to an asset class or mix of asset classes. If you truly have separate accounts for each type of investment you have, then you need to make them investment accounts with a single security belonging to the proper asset class.

But the problem you’ll run into is that Quicken Mac, unlike Quicken Windows, does not allow users to create their own asset classes. So if you have gold bricks and want to see that investment reported as precious metals, there’s no way to do that in Quicken Mac.

Chris_QPW

Even if one was to use Quicken Windows asset classes there would be no way to use them on a net worth report.