Double-counting income?
in [Quicken]
|
Prev: How to "link" two transactions
Next: Missing Security
From: Gary on 10 May 2010 08:09 I've recently changed my accounts to pay me dividends as income rather than reinvest it. If I get a dividend from, say, a Vanguard mutual fund, the transaction shows up as Dividend Income. When the money is transferred from Vanguard to my savings account, it is also being categorized as income. How do I control this? Is there something written that helps me out of these swamps?
From: Andrew on 10 May 2010 08:24 Gary wrote: > I've recently changed my accounts to pay me dividends as income rather > than reinvest it. > > If I get a dividend from, say, a Vanguard mutual fund, the transaction > shows up as Dividend Income. When the money is transferred from > Vanguard to my savings account, it is also being categorized as > income. > How do I control this? Is there something written that helps me out > of these swamps? How is your money being transferred from your Vanguard account to your savings account? What are you doing to make that happen? -- ------------------------------------------------------------- Regards - - Andrew
From: Keith Snyder on 10 May 2010 08:38 "Gary" <gary_w1(a)hotline.com> wrote in message news:4be7f77b$0$5349$c3e8da3(a)news.astraweb.com... > I've recently changed my accounts to pay me dividends as income rather > than reinvest it. > > If I get a dividend from, say, a Vanguard mutual fund, the transaction > shows up as Dividend Income. When the money is transferred from Vanguard > to my savings account, it is also being categorized as income. > > How do I control this? Is there something written that helps me out of > these swamps? > It looks like you are double reporting the same income, once as Vanguard income, and once again as savings income. In your Vanguard account, record it as DivX, which means "dividend income transfered to another account." In the Xfer field, enter your savings account.
From: John Pollard on 10 May 2010 12:16 Gary wrote: > I've recently changed my accounts to pay me dividends as income rather > than reinvest it. > > If I get a dividend from, say, a Vanguard mutual fund, the transaction > shows up as Dividend Income. When the money is transferred from > Vanguard to my savings account, it is also being categorized as > income. > How do I control this? Is there something written that helps me out > of these swamps? You didn't say just where you were looking that you saw the "income" being double-counted. I suspect that if you looked more, you'd also see the "income" from the transfer offset by an "expense" of the same amount. Typically, either both halves of a transfer are present, or neither is present. Virtually all reports, and many displays, allow you to control which, if any, transfers will appear. On the Advanced tab of most report Customize dialogs is a "Transfers" drop down that allows you to "Exclude all" transfers from the report. If you need finer tuning than that, leave Advanced > Transfers set to "Include all" (or "Exclude Internal", which excludes opening balances and balance adjustments); then select/de-select the desired "account categories" on the "Categories" tab in the Customize dialog (the "account categories" are at the end of the list). -- John Pollard news://<YOUR-NNTP-NEWSERVER-HERE>/alt.comp.software.financial.quicken Your source of user-to-user Quicken help
From: Andrew on 14 May 2010 08:05
John Pollard wrote: ..... I guess we'll never know if we helped the OP. -- ------------------------------------------------------------- Regards - - Andrew |