QBP: Use a "Business" Uncategorized for Transactions in Business Accounts (edited)

mattbroffman

Right now it appears that if an account (e.g. Credit Card) is tied to the business and a new transaction comes in, it shows as "uncategorized." The problem is if I run a report (P&L) the uncategorized items do not show. Ideally, they should show somewhere to let me know those transactions have happened but are not reconciled to the category. The other reason this is important is right now I can't find an easy way to see what transactions in accounts aren't tied to the P&L without going through visually and looking.

Coach Kristina

Hello @mattbroffman,

To clarify, are you wanting Quicken Simplifi to add a default Uncategorized category for businesses?

You should already be able to create a custom category for business transactions in both the Quicken Simplifi web app and the mobile app. For more information and instructions on how to do this, please see this article:

https://support.simplifi.quicken.com/en/articles/10175272-managing-business-categories

I look forward to your reply!

mattbroffman

Ok...it's possible what I was seeing was a bug. It has nothing to do with categories and instead the issue was that all transactions to a business credit card aren't defaulting to be a business expense. What I saw was that a transaction that Quicken would mark as Uncategorized would not show as business. Is this expected? I would assume if it's a business credit card I'd want all expenses as business unless I say otherwise.

Coach Natalie

@mattbroffman, thanks for the reply!

It looks like assigning an account to a business is more for cosmetic purposes. It would still be up to the user to ensure that the transactions downloaded into the account are assigned to the correct category, whether it be a Business Category or a Personal Category. Our FAQ here goes over creating and editing Business Categories in Quicken Business & Personal: https://support.simplifi.quicken.com/en/articles/10175272-managing-business-categories

Since the built-in Category of "Uncategorized" is a Personal Category, it would be used as such when assigned to a transaction. This built-in Category can't be edited to make it a Business Category, but you can create a custom Business Category if you'd like. You can also create Transaction Rules to help with category assignments in general: https://support.simplifi.quicken.com/en/articles/4792733-how-to-use-transaction-rules

I hope this helps get you pointed in the right direction!

mattbroffman

Can I create a rule that would take anything that for a specific credit card would take anything that would have been "Uncategorized" (The personal version) and make it "Business: Uncategorized"?

My suggestion remains the same….I think there should be a business uncategorized that is used for any account that is set as a "business account."

Coach Natalie

@mattbroffman, the ability to create Transaction Rules for Accounts has not quite made its way to Quicken Simplifi yet:

https://community.simplifimoney.com/discussion/1340/ability-to-create-transaction-rules-for-amounts-and-accounts-edited-7-merged-vote

For using a "Business" Uncategorized for transactions in business accounts, I have gone ahead and turned this into an Idea post requesting it so other users can vote on it and our product team can review it.

I hope this helps!

Coach Tara

@mattbroffman Thank you for this suggestion regarding uncategorized for an account that is primarily used for business. I'd love to learn a little bit more about your needs around this. Please use this link to schedule a convenient time to chat. https://calendly.com/d/5b9-j47-skm/45-minute-user-discussion-external

Warmly,

Coach Tara