Ability to Exclude part of a split transaction [edited] (3 Merged Votes)
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Need this feature, it's a basic feature for any finance management tool.
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Still anxiously waiting for an update. My renewal date is fast approaching and this is basic core functionality.
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I’m adding my support for this feature as well. My expense reports are paid out with my paycheck. I split my paycheck transaction to show the difference. Since I can’t exclude the payment, I have to leave all the transactions being included as well. If the transactions and payment happen in the same month, it’s not as big of a deal, although it does skew spending for a couple weeks. When the payment and transactions are spread over two months, the income and expense amounts show big peaks and valleys that cause confusion and obfuscate the real gains and losses.
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How long have we been asking for this? 2021?
This response from Quicken was 17 months ago.
Last Updated July 2024We have received confirmation from our product team that this ability is planned!
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What I would do in your situation is set up a manual account called "Reimbursable Work Expenses" (or similar). When you spend the money on those expenses, categorize them as a Transfer to that manual account. The transactions will be excluded from Spending Plan since it automatically doesn't include transfer transactions. When you get your paycheck, split it into two: one line for the actual income, and another line as a Transfer to the manual account, which will apply it towards the spending. This way, the reimbursement also won't count in Spending Plan and the manual account will keep a running balance for you to keep track of what's owed to you.
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Thanks for the suggestion. That would work in the interim. If the lack of this feature starts bugging me too much, I’ll definitely go this route. Thanks!
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I actually like it a lot! I do this with a relative (who I shop for online and they zelle me the balance once a month), and I finally have a good way to reconcile and make sure all the charges are covered and nothing is forgotten.
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What I would do in your situation is set up a manual account called "Reimbursable Work Expenses"
What type of account do you use for that purpose?
I'm using "Other Asset" but I'm wondering if a bogus checking account might work. (Because, in my account list, Other Assets are off the screen unless I collapse some sections of the list. I'd like to see the amount in the reimbursable one on a regular basis.)
DryHeat
-Quicken Classic (1990-2020), CountAbout (2021-2024), Simplifi (2025-…)0 -
Need this feature to be developed
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This is the only workaround for this problem. That we've asked to be fixed for years…
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I agree
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While it may not solve all use cases for the request, I actually don't consider it a workaround. It has a few advantages such as showing you the outstanding balance at any time and allowing you to easily reconcile that you've received the correct amount as a reimbursement.
When transactions are reimbursed I give them a flag, and when reconciling a reimbursement I filter by unflagged transactions to make sure that none are missed and that it adds up correctly. I've tried many systems for this use case over the years and this is definitely the best one I've found.
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@EL1234 Your idea of a receivable account works well, especially for folks who have lots of reimbursable expenses in their jobs and end up with regular reimbursments.
For professionals who have expenses from time to time and who often or usually have expenses that don't get reimbursed, then categorization might be better.
Before my wife retired back when we had to fill out IRS Form 2106, I categorized her expenses in a Professional category with subcategories for Travel, Meals and Miscellaneous. When she did get reimbursements, I would credit them back to those categories thus reducing her expenses. The balance ended up reflected in the Spending Plan and Reports.
She never got a reimbursement combined with a paycheck, but I would still have just split the transaction accordingly:
This avoids transfers and the reports show the total of her unreimbursed expenses. I could plug the numbers into the income tax. Of course, even after the change in the law I still kept up with it that way.
Now she is retired but still does Volunteer work with expenses and she does still get some reimbursements from time to time, so I use the same method but now it is a Recreation category.
But if she got a reimbursement in a paycheck, I probably would end up using a transfer even through my Cash & Payment Account. I don't like that idea at all of combining reimbursement checks with paychecks.
Steve
Quicken Simplifi (Safari & iOS) Since 2021
Quicken Classic (MacOS) Since 2009
MS Money (1991-2009) and Dollars & Sense (1987-1991)0 -
That does work very neatly. But I prefer the ability to reconcile so that I make sure I didn't miss any expenses. But again, if this is rare then it's not as much of an issue and you might not want an extra account in the list (I use Checking so it's near the top but you could also use Other Banking so it's further down and less visible).
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