_IntInc
in [Quicken]
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From: Bruce. on 10 Feb 2010 21:23 I'm wondering if I'm missing something. I'm a Money convert and trying to categorize income correctly. In the case of simple interest income, CDs, savings accounts, whatever, the program does not appear to come with a visible category for that with the correct tax category. The only one I can find is _IntInc. That has the right tax category but is marked as hidden, keeping it hidden when categorizing new register entries. But it does have the correct tax status. So why does the only interest income category have an underscore and why is it by default hidden? Bruce.
From: John Pollard on 10 Feb 2010 21:42 Bruce. wrote: > I'm wondering if I'm missing something. I'm a Money convert and > trying to categorize income correctly. In the case of simple > interest income, CDs, savings accounts, whatever, the program does > not appear to come with a visible category for that with the correct > tax category. > The only one I can find is _IntInc. That has the right tax category > but is marked as hidden, keeping it hidden when categorizing new > register entries. But it does have the correct tax status. > > So why does the only interest income category have an underscore and > why is it by default hidden? Quicken categories that start with an underscore are categories that Quicken requires in order to automatically categorize certain transactions. [And interest income is no where near the "only" such category.] I'm not aware that the _IntInc category is "hidden" by default in Quicken .... whenever that category is required by Quicken. If Quicken doesn't need that category, it is not hidden (please look at the "hide" option for categories) ... it is non-existant. In other words: if you have no "investment" accounts in your Quicken file, Quicken doesn't need its "_IntInc" category - and that category does not exist. On the other hand, once you create an investment account in Quicken ... Quicken needs the "_IntInc" category ... to say nothing of several other "_..." investment categories. What is really troubling you about this? -- John Pollard news://<YOUR-NNTP-NEWSERVER-HERE>/alt.comp.software.financial.quicken Your source of user-to-user Quicken help
From: Robert Neville on 11 Feb 2010 00:24 "Bruce." <noone(a)example.net> wrote: >I'm wondering if I'm missing something. I'm a Money convert and trying to >categorize income correctly. In the case of simple interest income, CDs, >savings accounts, whatever, the program does not appear to come with a >visible category for that with the correct tax category. > >The only one I can find is _IntInc. That has the right tax category but is >marked as hidden, keeping it hidden when categorizing new register entries. >But it does have the correct tax status. > >So why does the only interest income category have an underscore and why is >it by default hidden? The underscore categories are Quicken internal use. Tthere was a thread on this here recently - Google Groups has it. I have "Int Inc" in my list, associated with Schedule B. If you don't have that, create one...
From: Bruce. on 11 Feb 2010 09:44 > Quicken categories that start with an underscore are categories that > Quicken requires in order to automatically categorize certain > transactions. [And interest income is no where near the "only" such > category.] _IntInc is the only one I can find that says "Investment Interest Income" in the entire catagory list. It is also the only one that has the proper tax assignment as "interest income" with tax catagory "Schedule B Interest Income" assigned. > I'm not aware that the _IntInc category is "hidden" by default in Quicken > ... whenever that category is required by Quicken. If Quicken doesn't > need that category, it is not hidden (please look at the "hide" option for > categories) ... it is non-existant. It IS hidden. When you display the catagory List, the 4th column is a check box that says "Hide", and all underscore catagories have "Hide" checked. As a result of this Hide setting, when you are entering new tranactions and use the popup Catagory selection, _IntInc is nowhere to be found. Of course I can uncheck the Hide, but my question is WHY would it be marked Hide straight from Quicken (I'm a new 2010 convert from Money). > In other words: if you have no "investment" accounts in your Quicken file, I have multiple invesement accounts and so recording interest income is critical. So back to my question, what would the only Interest Income catagory have an unscore and why is is hidden by default? > What is really troubling you about this? Since it makes no sense, I assume I'm missing someething. Bruce.
From: TomYoung on 11 Feb 2010 10:37 On Feb 10, 6:23 pm, "Bruce." <no...(a)example.net> wrote: > I'm wondering if I'm missing something. I'm a Money convert and trying to > categorize income correctly. In the case of simple interest income, CDs, > savings accounts, whatever, the program does not appear to come with a > visible category for that with the correct tax category. > > The only one I can find is _IntInc. That has the right tax category but is > marked as hidden, keeping it hidden when categorizing new register entries. > But it does have the correct tax status. > > So why does the only interest income category have an underscore and why is > it by default hidden? > At a guess, the underscore categories are hidden because they are associated with Investing Accounts (Investment Accounts and Retirement Accounts) and are used by Quicken internally to categorize transactions based on the Action you choose. So, *in an Investing Account*, if the Action is "Div" (you could either enter this transaction right in the register itself by selecting "Div" in the Action column of the register or by clicking on the "Enter Transaction" button at the top of the register, selecting "Inc - Income (Div, Int, etc.)" from the drop-down menu and then entering a dollar amount in the "Dividend" box) Quicken will automatically use the "_DivInc" category and associate that income with the security you've entered. CD's and Savings Accounts, on the other hand, are typically set up as Cash Flow Accounts (Spending Accounts and Savings Accounts) and can't be automatically categorized by Quicken because there's no associated "Action" that Quicken can use to select a category. In these accounts *you* provide the category. If you want to use the underscored categories here un-hide them and they'll show up in the menu of available categories. Most people, I'm guessing, prefer to use a category like "Interest Income" or "Int Inc" with suitable subcategories like "B of A CD" or "Schwab Savings." (In fact, if I'm not mistaken, the category "Interest Inc" comes pre-installed with Quicken and is associated with "Schedule B: Interest Income." At least it does in my version of Quicken, Quicken Deluxe 2007.) Tom Young
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