Cash Payment

[Ken Blake, MVP]

I'm using Quicken Deluxe 2014. In an investment account, what's a good
way to enter a cash payment amount--an amount paid from the account to
my investment advisor? Every kind of transaction seems to want a
transfer account.

 

[Bert]

In "Ken Blake, MVP"

I'm using Quicken Deluxe 2014. In an investment account, what's a good
way to enter a cash payment amount--an amount paid from the account to
my investment advisor? Every kind of transaction seems to want a
transfer account.

I use "Miscelaneous Expense" for my management fees. Although there's a
field for "Transfer Account" there's no need to enter one.

 

[Ken Blake, MVP]

In "Ken Blake, MVP"


I use "Miscelaneous Expense" for my management fees. Although there's a
field for "Transfer Account" there's no need to enter one.

Thanks very much. I had assumed it was necessary.

 

[Andrew]

Thanks very much. I had assumed it was necessary.

Just throwing out a thought, but you might wish to call it something
like 'Investment Advisory Expense' and link that to a tax-related entry.
I presume that such fees are tax-deductible and might deserve such a
notation/flagging for income tax reminder purposes.

I would think 'Miscellaneous Expense' might not be so-flagged.

JS.

 

[Ken Blake, MVP]

Just throwing out a thought, but you might wish to call it something
like 'Investment Advisory Expense' and link that to a tax-related entry.
I presume that such fees are tax-deductible and might deserve such a
notation/flagging for income tax reminder purposes.

I would think 'Miscellaneous Expense' might not be so-flagged.

Thanks for the thought.

 

[Bert]

I would think 'Miscellaneous Expense' might not be so-flagged.

"Miscelaneous Expense" is the Quicken menu selection from "Enter
Transactions." In it, you then select the actual "Category."

 

[Andrew]

"Miscelaneous Expense" is the Quicken menu selection from "Enter
Transactions." In it, you then select the actual "Category."

Got it. Subsequent category selection then should be selected and
designated as a 'Tax Related Catagory'.

 

[Bert]

Got it. Subsequent category selection then should be selected and
designated as a 'Tax Related Catagory'.

I have two categories to use under "Miscelaneous Expense," one is
"Investment Expense" and the other is "Foreign taxes paid."