Equivalent Way to Use the Functionality of Classes in Older Versions of Quicken

Gary D G

For years I used the Class feature in Quicken 2004. This allowed me to keep track of my budgeted categories by showing a balance in each of the defined Classes and sub-Classes. The Class feature allowed for both income and expenses to be itemized in each Class and showed a balance for each Class (unlike the use of Categories). I would very much like to do the same thing in the new Quicken Classic subscription but have been unable. I have tried using Tags in a similar manner but have not been successful.

Is there a way to replicate the Class feature in this manner in the current version?

Thanks

Jim_Harman

The Banking Transaction report subtotaled by Tag does not have income and expense sections.

I just tried it and if you have Tags that are assigned to transactions with both Income and Expense Categories the report groups them together.

jacobs

Tags is what replaced Classes. They have one distinct advantage and one distinct disadvantage over the old Classes: you can apply more than one tag to a transaction, but tags are not hierarchical (e.g. no sub-classes).

Whether with Tags or Categories, you can create a report for just that Tag or Category listing and totaling all the transactions. With a Tag, that would include both income and expense transactions.

Chris_QPW

As far as I know, in Quicken Windows they just changed the name from Class to Tags, none of the functionality changed, Quicken Windows always allowed multiple "Classes/Tags", and they have always not been hierarchical.

But the question was about the budget. Quicken Windows (and Quicken Mac for that matter) is category based, not Class/tags. It has been very long time since I looked at the old budget system that was changed in Quicken 2012 and I was never a "budgeter" but as far as I remember Classes weren't available in the old budget system either, just categories and subcategories.

Gary D G

thank you both for the responses. I can work around the fact that Tags do have hierarchy, but I have been unable to get an accurate report that will simply show the balance for the year in each Tag "category" as well as all the transaction activity in that Tag. I'll try again.

jacobs

I'm a Quicken Mac user, so I unfortunately can't guide you to the exact steps for a correct report, but I believe it should be doable on Quicken Windows as well. Hopefully a Quicken Windows user will pop in here with specific instructions.

Jim_Harman

Try the report at Reports > Spending > Itemized Tags. Select Expand all to see the transaction detail.

For the same data formatted slightly differently, try Reports > Banking > Transaction and subtotal by Tag.

Gary D G

Thanks for the response, but that is exactly what I did. And the report segregated the Tags into an Income section and an Expenses section. What I am trying to do is have all transactions for a given Tag grouped together (both deposits and payments) and a balance then presented for each Tag.

I know this could be done with Classes in Quicken 2004 because that is exactly what I did for about 20 years. (And Classes did allow sub-classes under each Class.) As someone trying to use the new version I am just struggling mightily. I'm not saying it can't be done, but I can't figure out a way to do it after many hours of trying. I am just about ready to return Quicken and try to look elsewhere. It has been very frustrating.

Thanks again for the thoughts.

Jim_Harman

The Banking Transaction report subtotaled by Tag does not have income and expense sections.

I just tried it and if you have Tags that are assigned to transactions with both Income and Expense Categories the report groups them together.

jacobs

In Quicken Mac, it's easy to create a Transactions by Tag report for one or multiple tags which contains all the transactions — income and expenses — using each tag. If more than one tag is included in the report, each is grouped and totaled separately. Within each tag in the report, transactions default to date order, but can optionally be sorted by any other field.

Gary D G

Responding to Jim Harmon's suggestion on Banking → Transactions → Tags report: That worked! Sorry to take so long to get back with you but thank you so much. I have now saved a custom report that does just that.

My next adventure is to try to create Scheduled Transactions for a number of monthly transactions. I have created a number of Memorized Payee Transactions, but I would like to make a lot of those to be automatically entered into my account as Scheduled Transactions on a monthly basis. I don't see a category for that under the Tools Menu. I imagine I can do that, I just need to figure out how.

Thanks for the help.

Jim_Harman

Scheduled Transactions are usually called Reminders in Quicken. Go to Tools > Manage Bill & Income Reminders to set them up.

If they are for a fixed amount each month, you can set them up to automatically enter a few days before the payment or income is due to download. If the amount varies, it is better to set them up to "Remind me" a few days before they are due.

Gary D G

Jim, Thank you. I did experiment myself with that Tool and discovered just what you described. You have been a great help. I think I am on my way, but who knows what my next difficulty with me.

Thank you again.

Jim_Harman

I am happy to help. Setting up Reminders for your regular bills and income helps to avoid missed payments, helps Quicken to properly categorize downloaded transactions, and and also feeds the Tax Planner and Projected Balances.

If you have further questions, please post them separately rather than extending this discussion.