I generally don't use a payee name for simple bank/savings interest. Instead I have subCategories for interest, e.g.,
Schwab:Checking Schwab:Savings
The first, obviously, is used in the Schwab checking account and the second used for the Schwab savings account, with no payee in either case.
I find it gives me more control and visibility for reporting especially since the "payee" is the same in both cases. Do whatever seems to serve your purposes better, there's no one "only way to do it."
The only important thing is to use a category that shows it as income (probably taxable), everything else besides the amount is window dressing.
Well, I'd say the ability in using subcategories that include the specific payee is that you can do a total by that type and ensure that the amount of interest and dividends that you are receiving match any 1040s and bank statements over the year as well. Unless you make each type of account as a slightly different name in the payee field if you go that way (And I don't), that is the only way I know you'd be able to break that level of detail down. So I think that's a little more than 'window dressing' as you say, Splasher.
The only important thing is to use a category that shows it as income (probably taxable), everything else besides the amount is window dressing.
True enough for a simple differentiation, but not to the extent of ease of tax preparation. Recall I showed in my first example when I mentioned "Int_Inc:Bank_of_America". One can use differentiating subcategories for each FI under the entire category of "income Income ", or "Dividend Income". It bringims your tax classification of Schedule A dividend and interest under a single category. "Int_Inc:Bank_of_America", "Int_Inc:Citibank",, "Div-Inc:Vanguard", etc. So individual parts of the tax form are subtotalled by type. You can't do that, I believe, by using either the payee name or tags.
But I agree, and have said before, Q offers a lot of power in different ways to use.
Comments
Bank of America Interest
Fidelity Interest
E*TRADE Interest
Questions? Check out the Quicken Windows FAQ list
Simply record, Interest Earned for the Payee and where the Ck # is entered, use DEP.
See this Article for the future: https://getsatisfaction.com/quickencommunity/topics/add-your-quicken-information-to-your-posts-plus-...
Information: https://community.quicken.com/discussion/7871028/quicken-bill-pay-discontinues-on-5-31-20-introducing-quicken-bill-manager
View: https://community.quicken.com/discussion/7859218/work-with-copies-of-your-actual-quicken-data-files/p1?new=1
Schwab:Checking
Schwab:Savings
The first, obviously, is used in the Schwab checking account and the second used for the Schwab savings account, with no payee in either case.
I find it gives me more control and visibility for reporting especially since the "payee" is the same in both cases. Do whatever seems to serve your purposes better, there's no one "only way to do it."
-also older versions as needed for testing
-Questions? Check out the Quicken Windows FAQ list
Well for a simply question, you are getting your Money's worth for posting it.
Information: https://community.quicken.com/discussion/7871028/quicken-bill-pay-discontinues-on-5-31-20-introducing-quicken-bill-manager
View: https://community.quicken.com/discussion/7859218/work-with-copies-of-your-actual-quicken-data-files/p1?new=1
Questions? Check out the Quicken Windows FAQ list
But I agree, and have said before, Q offers a lot of power in different ways to use.