Net Worth Categories - add configuration options [Edited]

TJReader

The use of categories is inconsistent. Accounts have categories such

• Investment - Brokerage
• Investment - Other Investments
• Asset - Real Estate
• Asset - Vehicles
• Asset - Other

Yet Investments on reports only come out as either Brokerage or Retirement. There are Investments that are not brokerage or retirement. Retirement accounts can be brokerage accounts as well.

Other Assets only come out as Property regardless of category. Property is not a category.

Could Quicken reconfigure the types to be configurable and add 2 fields so there are level 1, level 2 and level 3 types. In this way users could have:

• Assets
  • Cash
  • Investment
    • Current
    • Retirement
  • Other Assets
    • Real Estate
    • Vechiles
    • Other
• Liabilities
  • Credit Card
  • Mortgages

These types would be both as headings on the account list and on reports

jacobs

I agree with some of that you wrote, but disagree with some as well…

There are Investments that are not brokerage or retirement. Retirement accounts can be brokerage accounts as well.

Currently, Quicken Mac separates investments into "Brokerage" and "Retirement". You are proposing investments separated into "Current" and "Retirement". So I see that as only a minor nomenclature difference, not a functional change. You can use "Brokerage" or "Other" for any non-retirement investment accounts.

For instance, I have three annuity investments: one is a regular taxable annuity, one is a rollover IRA, and one is a Roth IRA. There's not a specific account type for annuities, but that doesn't matter for Quicken purposes. I use Type=Other, Type=Traditional IRA and Type=Roth IRA for these investments. The "Other" shows up under the Brokerage heading in a Net Worth report; it's not held by a brokerage company, but it is the same for tax purposes, so it doesn't bother me that the label "Brokerage" isn't a fully accurate description. Perhaps "Taxable" and "Tax-Deferred/Tax-Free" would be more accurate labels, but I don't see that as a needed change. (What would be useful, however, is if we could create sub-categories of Retirement to separate the retirement accounts into tax-deferred (IRAs & 401ks) and tax-free (Roth IRAs and 401ks).)

I would guess that the vast majority of Quicken Mac users have relatively few Other Assets and don't really need the three subgroups you've suggested. I'd also note that you suggest "Mortgages" as one of two types of Liabilities, but there are many loans which are not mortgages, which is why they are simply labeled as "Loan" on the current Net Worth report; since I would guess most users don't have more than a handful of loans, I don't think there's a need for sub-categories like "Mortgages" and "Auto Loans" and "Other Loans".

I think the different ways each of us would ideally structure our assets and liabilities is a primary reason why the developers have not yet implemented a way to customize the left sidebar with our own custom groups. Some users would be happy with just being able to customize the sidebar, but others would want Net Worth reports to follow the same custom groupings and order as the sidebar. I do hope they implement that eventually, because one user will always want something different than the next user. You can add your vote and comment regarding the sidebar organization — and the desire to have the Net Worth report follow the same grouping and order — here:

https://community.quicken.com/discussion/7907965/add-an-option-to-re-order-accounts-in-the-sidebar-q-mac-1-merged-vote