I was reviewing the Home Tab dashboard for January early today and noticed / saw the below card which indicates that my expenses for January 2024 were $83,834 (mainly business and renovation related).
I noticed that the number higher than I thought and confirmed this in two ways:
i) I looked at the Spending Tab dashboard and noticed / saw teh below card whose amount was $3,625 dollars lower
iii) I looked at the spreadsheet that I created for this exact purpose (i.e., to check / test QWin for accuracy) and note that the personal spending + business spending for my two companies totalled $80,208.78 (i.e., $38,679.35 + $34,715.22 + $6,814.21).
In trying to resole this difference it appears that it caused by the following combination of transactions:
i) credit card account charge of $3,625 (i.e., the amount of the difference);
ii) invoice (i.e., a/r) account charge of $3.625 (i.e., billed to the client);
iii) invoice (i.e., a/r) account payment of $3,625 (i.e., client paid the invoice);
iv) checking account deposit of $3,625 (i.e., funds were deposited into my checking account [i.e., consequence of clearing the a/r account])
The $3,625 deposited into the checking account:
i) is categorized as a transfer in (i.e., is not categorized as an expense) and is therefore not being picked up as an expense / expense reversal; hence the overstatement
ii) cannot be recategorized as an expense because the amount / transaction is then removed as form the invoicing (i.e., a/r ) account.
This is bizarre / non-sensical to me because it means that there is no way to enter an expense when charged to a client and then, when the client repays that expense, have the repayment cancel / net the expense out.
Worth noting, I do understand that the amount is "netted to zero" by looking at the expenses net of "income from client reimbursements" but what I was hoping / would like is to have the expenses net out.
THE ASK: Would appreciate feedback / insight into:
i) Why does Quicken above approach / treatment makes sense?
ii) Why does the Spending Tab / dashboard properly net out the amount but the Home Tab / dashboard card does not?
iii) What, if any, workarounds exist to get the Home tab / dashboard to also net out the amounts?
Thank you.
