Account Balancing Issue

In a previous upgrade, the ability to view future transactions while balancing my account disappeared. Currently, it only displays transactions up to the current date. This poses an issue for me. I would appreciate either the option to view future transactions for reconciliation purposes or an adjustment to how the rental property module functions.

In the rental property module, there is no provision to specify the month to which rental income should be applied. Consequently, to track rent payments accurately, I have to date receipts for the month the money corresponds to. However, I often receive payments before the designated month. Consequently, during the account reconciliation process, I am unable to mark off a check dated for the first of the following month as already cashed. This discrepancy throws my account out of balance.

I have come across discussions suggesting that future transactions should not be included in reconciliation. Therefore, I suggest adding another date field that can be utilized within the rental property management section to address this issue.

Comments

  • QuickUserPSP
    QuickUserPSP Member, Windows Beta Beta

    @chadbowersox1972 it sounds like you are using the reconciliation process as a rent tracking mechanism because you have no choice and if there was another date available such as "As of" Date, that would solve your issue.

    This might be too simplistic, but would it help if you add the effective or "as of" date to the Memo field? That way the transaction date can be the check post date when you reconcile. After you reconcile you can change the transaction date back to the effective or "as-of" date in the memo field.

  • chadbowersox1972
    chadbowersox1972 Member ✭✭

    There are ways to circumvent this issue, although they are cumbersome. When generating a rental receipt, the system offers two dates: one for the due date and one for the receipt date. However, these dates do not impact the month under which the deposit is displayed in the Rent Center window. Instead, they are determined by the date in the register.

  • chadbowersox1972
    chadbowersox1972 Member ✭✭

    My hope is that the developers at Quicken will come across this post and take it into consideration for a future update, addressing the mentioned issues.

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭

    So, create an Idea post and let other users vote upon your idea. IF it gets sufficient votes, the developers MAY consider it … but not based simply upon this thread.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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