--- language: "en" --- # Quicken Simplifi / Quicken Business & Personal ## Welcome to Quicken University Welcome to Quicken University --- your help and learning center for **Quicken Simplifi** and **Quicken Business \& Personal**. Whether you're just getting started or looking to get more out of a specific feature, use the sections below to find what you need. |----------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------| | [Getting Started](https://info.quicken.com/sim/revised-help.md) | Set up your account, connect your financial institutions, and get familiar with your product. | | [Tracking Income](https://info.quicken.com/sim/track-and-manage-income.md) | Record and manage the money coming in, from paychecks and deposits to invoices and client payments. | | [Tracking Expenses](https://info.quicken.com/sim/daily-transaction-management.md) | Categorize transactions, manage bills, and keep a clear picture of where your money is going. | | [Working With Transactions](https://info.quicken.com/sim/working-with-transactions.md) | Enter, edit, split, and organize your transactions, and set up rules to save time. | | [Bills \& Income: Your Financial Preview](https://info.quicken.com/sim/bills-income-your-financial-preview.md) | Get a forward-looking view of your finances --- showing what's due, what's expected, and how your money is likely to move in the weeks ahead. | | [Budgeting \& Spending Plan](https://info.quicken.com/sim/spending-plan.md) | Build and manage a Spending Plan to budget for bills, everyday spending, and savings goals. | | [Running Reports](https://info.quicken.com/sim/essential-business-reports.md) | Run reports to understand your financial picture and prepare for tax time. | | [Planning Tools](https://info.quicken.com/sim/planning-tools.md) | Explore whether you're on track for retirement and monitor your credit score, including the things influencing it. | | [Financial Basics \& Glossary](https://info.quicken.com/sim/financial-basics.md) | Plain-language explanations of financial and accounting concepts to help you get the most out of Quicken. | --- language: "en" --- # Account Balance ## **Definition** Your account balance is how much money is currently in an account --- or, for a credit card or loan, how much you currently owe. *** ** * ** *** ## **Why It Matters** The balance you see is only accurate if the account is connected and every transaction has been recorded. A missed or duplicate transaction throws the balance off, which can lead to overspending, a missed payment, or an inaccurate net worth figure. ## **How This Works** In Simplifi and Quicken Business \& Personal, each connected account displays its current balance, which updates automatically as transactions download and post. All your connected accounts and account balances are shown on your dashboard. ## **Related Terms** * [Accounts](https://info.quicken.com/sim/accounts.md) * [Using Your Dashboard](https://info.quicken.com/sim/getting-to-know-your-dashboard.md) * [Navigating Your Dashboard](https://info.quicken.com/sim/navigating-your-dashboard.md) --- language: "en" --- # Accounts ## **Definition** An account represents one place your money lives or moves through --- a checking account, savings account, credit card, loan, or investment account --- that you connect to Quicken so its transactions and balance can be tracked. *** ** * ** *** ## **Why It Matters** Every dollar you track in Quicken has to belong to an account, because that's how Quicken knows where money came from and where it went. Without accounts set up correctly --- and business and personal accounts kept separate --- your categories, reports, and net worth won't reflect an accurate picture of your finances. *** ** * ** *** ## **How This Works in Quicken** All your connected accounts and balances are displayed on the left side of your Dashboard. Accounts can be added and connected from this section. During setup, you can specify the type (checking, savings, credit card, loan, investment, or asset). If you are using Quicken Business and Personal, you also can designate the account as business or personal account, so your finances stay separated from the start. *** ** * ** *** ## **Related Terms** * [Navigating Your Dashboard](https://info.quicken.com/sim/navigating-your-dashboard.md) * [Net Worth](https://info.quicken.com/sim/net-worth.md) * [Categories](https://info.quicken.com/sim/categories.md) * [Tags](https://info.quicken.com/sim/tags.md) * [Using Categories \& Tags](https://info.quicken.com/sim/using-categories.md) --- language: "en" --- # Accounts Payable ***Quicken Business \& Personal Only*** If vendors send you bills that you pay later---like monthly software subscriptions, contractor invoices, or supply orders with payment terms---you need to track Accounts Payable. Without it, you'll miss payment deadlines, damage vendor relationships, and won't know how much you actually owe. *** ** * ** *** ## What is Accounts Payable? Accounts Payable is the money you owe to vendors, suppliers, or service providers for goods or services you've received but haven't paid for yet. It represents unpaid bills---expenses you've incurred that you'll need to pay in the future. Think of it as your business's credit card balance or tab that needs to be settled. *** ** * ** *** ## Why It Matters Accounts Payable helps you manage what you owe and when payments are due. Tracking Accounts Payable helps you: * See all upcoming payment obligations in one place * Avoid late fees and maintain good vendor relationships * Plan your cash needs to ensure you can cover bills * Track payment terms and take advantage of early payment discounts * Generate accurate financial reports that show true expenses Without tracking Accounts Payable, you'll miss payment deadlines, damage vendor relationships, and won't have a clear picture of your actual financial obligations. *** ** * ** *** ## Example You receive a $1,200 invoice from your web hosting provider in March with Net 15 payment terms. Until you pay it, that $1,200 sits in Accounts Payable. When you submit payment in mid-March, Accounts Payable decreases by $1,200 and your bank account decreases by $1,200. *** ** * ** *** ## Where to Find It in Quicken Business \& Personal At this time, there is no Accounts Payable workflow supported in Quicken Business \& Personal. *** ** * ** *** ## **Related Topics:** * [Recording and Paying Bills](#) * [Managing Vendor Relationships](#) * [Understanding Payment Terms](#) --- language: "en" --- # Accounts Receivable ***Quicken Business \& Personal only.*** **Accounts Receivable is the money customers owe you for products or services you've already delivered but haven't been paid for yet.** It represents income you've earned---but haven't collected---and plays a key role in managing cash flow and avoiding surprises. Accounts Receivable is made up of **outstanding invoices**: work you've completed or goods you've sold on credit that you expect to turn into cash. You can think of it as an IOU from your customers that should eventually be paid. *** ** * ** *** ## Why It Matters Accounts Receivable shows how much money you've earned but don't yet have in the bank. Understanding and tracking Accounts Receivable helps you: * Know exactly who owes you money and how much * Follow up on unpaid invoices before they become problems * See the difference between **earned income** and **available cash** * Make realistic spending decisions based on expected payments * Generate accurate financial reports that reflect earned revenue Ignoring Accounts Receivable can make your finances misleading---you may appear profitable on paper while cash is tight, or lose track of customers who haven't paid. *** ** * ** *** ## How to Use Accounts Receivable Accounts Receivable isn't just something you record---it's something you actively monitor. Use Accounts Receivable to: * Keep an eye on money that should be coming in soon * Identify unpaid invoices that may need follow-up * Understand whether upcoming income will cover near-term expenses Regularly reviewing what you're owed helps you spot cash-flow gaps early---even during months that look profitable on paper. *** ** * ** *** ## Example You complete a $2,500 website design project in January and send an invoice with Net 30 payment terms. Until the client pays, that $2,500 appears in **Accounts Receivable (Client Invoices)**. When payment arrives in February, the Accounts Receivable balance decreases by $2,500 and your bank account increases by $2,500. If several clients are late paying invoices, your Accounts Receivable balance grows---but your bank balance doesn't. Monitoring unpaid invoices helps you catch this gap before cash becomes tight. *** ** * ** *** ## Seeing Accounts Receivable (What You're Owed) **Accounts Receivable is shown through one core account---called** ***Client Invoices*** **---and several supporting views.** Each view shows the same information, just organized to answer different questions. ### Start Here: Client Invoices = Accounts Receivable In Accounts, The **Client Invoices** account under **Business Payments** is your **Accounts Receivable account**. * The **balance** shows the total amount your clients owe you right now * This is **not a bank account** * It represents money you've earned but haven't received yet > If you want to know **"How much am I owed right now?"**, this balance is the answer. ### Clicking Client Invoices: What Makes Up That Balance When you click **Client Invoices** , you see the **invoice activity behind the balance**. This list includes: * Unpaid invoices (these add to Accounts Receivable) * Paid invoices (shown for history) * Payments applied to invoices Only **unpaid invoices affect the balance** . Paid invoices remain visible so you can see how the balance changed over time. > This view answers: **"Which invoices make up my Accounts Receivable?"** ### Other Ways to Look at What You're Owed These views show the same data, organized differently depending on what you need to do next. #### Sales \& Billing \> Invoices (Filtered to Unpaid) Use this when you want to: * See **specific invoices** that still need payment * Follow up with individual customers #### Clients \& Projects Use this when you want to: * See **who owes you money**, grouped by customer * Spot clients with multiple unpaid invoices ### How the Views Work Together (This Is the Key) Think of it like this: * **Client Invoices (balance)** = *How much you're owed* * **Client Invoices (list)** = *Which invoices create that total* * **Unpaid Invoices** = *What needs follow-up* * **Clients \& Projects** = *Who owes you money* Same data. Different questions. *** ** * ** *** ## About Aging Reports Quicken Business \& Personal does not include a traditional Accounts Receivable aging report. Instead, these views let you track what you're owed and decide when follow-up is needed without formal aging buckets. *** ** * ** *** ## Guidelines for Managing Accounts Receivable Good Accounts Receivable habits help keep cash moving and reduce surprises. As a general guideline: * Review unpaid invoices at least once a week * Follow up shortly after payment terms are missed * Avoid taking on major expenses if a large portion of income is still unpaid * Use invoices (not sales receipts) whenever payment will happen later If unpaid invoices continue to grow, it may signal a cash-flow issue---even if your business appears profitable. **Related Topics:** * [Managing Your Business Income](https://info.quicken.com/sim/business-finance-basics.md) * [Creating and Managing Invoices](https://info.quicken.com/sim/creating-and-managing-invoices.md) * [Using Sales Receipts](https://info.quicken.com/sim/using-receipts-to-track-immediate-payments.md) * [Cash vs. Accrual Accounting](https://info.quicken.com/sim/cash-vs-accrual-accounting-1.md) --- language: "en" --- # Accounts Receivable / Client Invoices Account ## **Overview** Accounts receivable is the money that clients owe you for work you've completed or services you've delivered, but haven't been paid for yet. In Quicken Business \& Personal, this is tracked in your **Client Invoices** account, located under **Business Payments** in your accounts list. Understanding and tracking your Client Invoices is crucial for managing your business's financial health. When you complete work but haven't been paid yet, you have income on paper but no cash in hand---this creates a gap between your business performance and your available money. By tracking what clients owe you, you can better predict when money will arrive, identify payment problems early, and make smarter decisions about taking on new work or managing expenses. You'll need this when you invoice clients after completing work, offer payment terms (like "Net 30 days"), or want to understand why your business seems profitable but you're still cash-strapped. **⚠️ Important:** The Client Invoices account is a tracking tool, not an actual bank account. It shows money you expect to receive, but it's not cash you can spend right now. *** ** * ** *** ## **What's Your Situation?** ### **Scenario 1: Service-Based Business with Payment Delays** You're a consultant who invoices after completing projects, but clients typically pay 2-4 weeks later. You need to track who owes what and when payments should arrive.*Example: Sarah, marketing consultant, completes a $5,000 project and sends an invoice. She needs to track this outstanding amount and follow up if payment is late.* ### **Scenario 2: Managing Cash Flow with Multiple Clients** You have several active clients with different payment schedules and need to predict when money will come in to plan expenses and new projects. *Example: Tom, handyman, has $8,000 in outstanding invoices from various jobs. He needs to know which payments to expect this month before scheduling new work.* ### **Scenario 3: Partial Payments and Deposits** You receive deposits upfront or partial payments, and need to track what's still owed on each project. *Example: Lisa, freelance designer, receives a $2,000 deposit on a $6,000 project. She needs to track that $4,000 is still owed when the work is complete.* ### **Scenario 4: Identifying Problem Clients** You want to spot clients who consistently pay late so you can adjust your payment terms or collection efforts. *Example: Mike, IT consultant, notices certain clients always pay 60+ days late, affecting his cash flow planning.* *** ** * ** *** ## **How Client Invoices Work in Quicken Business \& Personal** ### **When you create and send an invoice:** * The invoice amount is added to your **Client Invoices** balance * This represents money you expect to receive (but don't have yet) ### **When you record a client payment:** * Your **Client Invoices** balance decreases by the payment amount * Your bank account balance increases when you deposit the payment * The "owed money" becomes "actual money" in your accounts ### **Understanding Your Client Invoices Balance:** **✅ Positive Balance (Normal)** Shows outstanding invoices waiting for payment. This is typical and expected. **⚠️ Negative Balance (Needs Attention)** Usually means: * Clients have overpaid * You've received deposits for future work * Credits have been applied You can apply these credits to future invoices or issue refunds. *** ** * ** *** ## **Key Benefits of Tracking Client Invoices** ### **💡 Cash Flow Planning** Know when money is coming in so you can: * Plan major expenses around expected payments * Avoid cash shortages by timing your spending * Decide whether you can afford new equipment or hiring ### **📊 Payment Monitoring** Stay on top of your money by: * Seeing exactly who owes you what amount * Identifying overdue invoices before they become serious problems * Tracking payment patterns to spot consistently late-paying clients ### **🎯 Business Decision Making** Make smarter choices about: * Whether to take on new projects based on expected income * When to follow up on late payments * Whether you need a business line of credit for gaps ### **📋 Professional Record Keeping** Maintain organized books for: * Tax preparation and deductions * Business loan applications * Potential business sale or partnership discussions *** ** * ** *** ## **Views and Tools for Managing Your Client Invoices/Accounts Receivable** ### **Business Dashboard** * View outstanding invoices and payment trends at a glance * See your total accounts receivable balance quickly ### **Custom Reports** * Generate detailed analysis of outstanding invoices * Create aging reports to see how long invoices have been unpaid *** ** * ** *** ## **💡 Best Practices for Client Invoices/Accounts Receivable** ### **Regular Monitoring** * **Review your Client Invoices balance weekly** to catch payment delays early * **Generate aging reports monthly** to identify which invoices need follow-up * **Track payment patterns** to identify problem clients ### **Proactive Management** * **Follow up promptly on overdue invoices** to improve collection rates * **Establish clear payment terms** upfront (Net 15, Net 30, etc.) * **Consider requiring deposits** from new or slow-paying clients ### **Cash Flow Planning** * **Don't count unpaid invoices as available cash** for spending decisions * **Plan expenses around realistic payment timelines**, not invoice due dates * **Maintain a cash reserve** to cover gaps between invoicing and payment ### **Record Keeping** * **Keep detailed invoice records** including dates sent and payment terms * **Document payment follow-up efforts** for potential collection issues * **Reconcile regularly** to ensure your Client Invoices balance is accurate --- language: "en" --- # Adding Accounts ## Overview Accounts are the foundation of your financial workspace in Quicken. They represent the places where your money lives and moves --- such as checking, savings, credit cards, loans, investments, and business accounts (*Quicken Business and Personal only)*. Adding your accounts helps you see your finances in one place so you can: * Track spending and balances * Monitor cash flow * Stay organized for budgeting and taxes * View business and personal finances separately (*Quicken Business and Personal only)* * Generate more accurate insights and reports Quicken can securely connect to many financial institutions to automatically download transactions and balances. You can also create manual accounts for cash, offline accounts, or institutions that do not support connections. *** ** * ** *** ## Why Connecting Your Accounts Matters Connecting your accounts helps Quicken automatically keep your financial information organized and up to date. When you connect an account, Quicken can: * Download transactions and balances automatically * Categorize many transactions for you * Keep your financial data current across institutions * Identify recurring income and expenses * Reduce manual data entry * Improve budgeting, reporting, cash flow tracking, and financial insights Connected accounts are especially helpful when you: * Want a complete view of your finances in one place * Need current balances and recent transaction history * Manage both business and personal finances * Track spending, income, cash flow, or tax-related activity regularly *** ** * ** *** ## Automatic Transaction Categorization As transactions download from connected accounts, Quicken can automatically assign categories based on the merchant, transaction type, and your previous categorization activity. Automatic categorization helps you: * Save time on manual organization * Keep budgets and reports more accurate * Better understand where your money is going * Improve business and personal expense tracking To maintain accurate records, it's a good idea to review downloaded transactions regularly. You can: * Confirm categories are correct * Categorize uncategorized transactions * Update categories for unusual or one-time purchases * Improve the accuracy of reports and tax-related tracking Over time, Quicken can learn from your updates and improve future transaction categorization. *** ** * ** *** ## When to Add or Link Accounts You should add or connect accounts when: * You first set up Quicken * You open a new bank, credit card, investment, or loan account * You want to track business finances separately from personal finances * You need more accurate reports, spending plans, or cash flow visibility * You want transactions to update automatically instead of entering them manually ### Manual accounts are useful when: * Your financial institution is not supported * You want to track cash or offline assets * You prefer not to connect certain accounts online *** ** * ** *** ## To Add a Connected Account 1. From the Dashboard, click **+ New** in the Accounts area. 2. Search for your financial institution. * If your institution appears in the suggested list, select it. 3. Review the consent information, then click **Continue**. 4. Enter the same User ID and Password you use on your financial institution's website. 5. Click **Connect**. 6. Review the accounts Quicken finds. * Uncheck any accounts you do not want to add. * You can rename accounts or update account types during setup or later in Settings. 7. Click **Add**. Once connected, Quicken may review your transactions to identify recurring income and expenses. Your accounts will then appear in your Accounts List. *** ** * ** *** ## To Add a Manual Account 1. From the Dashboard, click **+ New** in the Accounts area. 2. Select **Add Manual Account**. 3. Choose the account type. 4. Enter the account details, such as: * Business or Personal usage type (if applicable) * Account name * Opening balance and date 5. Click **Continue**. The account will be added to your Accounts List. *** ** * ** *** ## To Add an Additional Account from an Existing Financial Institution If you already connected a financial institution, you can add additional accounts from that institution at any time. 1. Click the **Settings** icon. 2. Select **Accounts**. 3. Locate the financial institution. 4. Click the three-dot menu next to the institution. 5. Select **Add a New Account**. 6. Enter your financial institution credentials and click **Connect**. 7. Review the accounts found. * Uncheck any accounts you do not want to add. * You can rename accounts or adjust account types during setup. 8. Click **Add**. *** ** * ** *** ## Keeping Your Accounts Updated Connected accounts refresh automatically when you sign in to Quicken and can also be refreshed manually. To protect your financial institution from excessive requests, Quicken typically retrieves updated balances and transactions every few hours. *** ** * ** *** ## Related Topics * [Supported Account Types](https://info.quicken.com/sim/supported-account-types.md) * [Tracking a Home as an Asset](https://info.quicken.com/sim/using-zillow-to-track-your-real-estate-market-valu.md) * [Tracking a Vehicle as an Asset](https://info.quicken.com/sim/tracking-a-vehicle-as-an-asset.md) * [Setting Up Or Adding a Business](https://info.quicken.com/sim/setting-up-your-business-in-quicken-business-perso.md) * [Working With Transactions](https://info.quicken.com/sim/working-with-transactions.md) --- language: "en" --- # Applying Credit Memos to Invoices ## Overview Applying a credit memo to an invoice means you're using a credit you've previously issued to reduce what the client owes. This formally converts credits into an active reduction on a specific invoice, updating both the client's balance and your books. *** ** * ** *** ## Why Apply Credit Memos to Invoices * **Faster Payments** -- Credits reduce the client's out-of-pocket total, which often leads to quicker payments. * **Professional Experience** -- Clients appreciate when you proactively apply available credits, especially if they've asked. * **Cleaner Account Balances** -- Keeps receivables accurate and reduces the risk of overstatement. * **Accurate Reporting** -- Applied credits leave a clear audit trail, improving your financial transparency. *** ** * ** *** ## When to Apply Credit Memos ### Apply to Existing Invoices * Client requests to use credit on an open balance * You're cleaning up old or unpaid invoices * Client is unable to pay in full but has credit available ### Apply to New Invoices * You're billing for new work and credit is on the account * Credit was issued for a canceled project or returned product * You want to reduce the total due from the client before sending *** ** * ** *** ## How to Apply Credit Memos to Existing Invoices ### Step 1: Locate the Credit Memo * Go to **Clients \& Projects** * Select the appropriate client * Under **Sales History** , click the **Credits** tab * Find the credit memo you want to apply ### Step 2: Start the Application * Click the **three-dot menu** next to the credit memo * Choose **Apply to Invoice** ### Step 3: Choose Invoice and Amount * Select the invoice you want to apply the credit to * In **Amount to Apply**, enter how much to use * (Optional) Split the credit across multiple invoices * Click **Save** *** ** * ** *** ### ✅ What Happens After You Apply the Credit * The invoice balance is reduced by the applied amount * The credit memo's remaining balance is updated * The invoice status may update to **Partial Payment** if not fully paid *** ** * ** *** ## How to Apply Credit Memos to New Invoices ### Step 1: Create the Invoice * Go to **Clients \& Projects** * Select the client and click **+ Invoice** under **Sales History** * Enter invoice details (items, quantities, rates, etc.) ### Step 2: Apply Available Credits * If the client has available credit, it appears near the invoice total * Click **Apply Credit** and enter the amount to apply ### Step 3: Review and Send * The invoice total will reflect the credit * Review and send the invoice as usual *** ** * ** *** ## 💡 Best Practices * **Check With Clients** -- Some clients prefer to approve credit usage first * **Communicate Clearly** -- Let clients know when credits have been applied * **Use Partial Applications Thoughtfully** -- Spread credits across multiple invoices when appropriate * **Document the Source** -- Keep original credit memo details clear * **Review Accounts Regularly** -- Don't let usable credits sit unused *** ** * ** *** ## ⚠️ Important Considerations ### Credit Memo Scope * **Client-level credits** can only be applied to client-level invoices * **Project-level credits** are limited to their original project #### Credit Limits * You can only apply up to the credit memo's available balance * Remaining balances are tracked automatically #### Invoice Impact * Applying credits may change invoice status to **Partial Payment** * All credit applications are recorded for audit and reconciliation *** ** * ** *** ## 🔍 Where to Review Applied Credits * **Sales History \> Billed Tab** -- Shows invoices with applied credits * **Credit Memo view** -- Shows updated balances after each application * **Client Overview** -- Displays real-time credit availability * **Reports** -- Applied credits appear in revenue and AR reporting *** ** * ** *** ### 🛠 Troubleshooting | Issue | Solution | |--------------------------------------|--------------------------------------------------------------------------------| | **Cannot apply credit** | Make sure you're using a credit memo at the correct level (client vs. project) | | **Wrong amount applied** | You may need to reverse and reapply the correct amount | | **Credit not reflected on invoice** | Confirm you clicked **Save** and refresh if needed | | **Client confused by invoice total** | Resend the invoice and include the original credit memo for context | --- language: "en" --- # Applying Credits to Invoices ## Overview Client credits represent **overpayments** , **advance payments** , or **deposits** that can be applied toward future invoices. Using credits ensures that your customer account balances remain accurate, speeds up collections, and helps you avoid issuing unnecessary refunds. Whether a client overpays or prepays, Quicken Business \& Personal makes it easy to apply those credits directly to open invoices. *** ** * ** *** ## ✅ Why It Matters | **Benefit** | **Description** | |------------------------------|-------------------------------------------------------------------------------------------| | **Accurate Client Balances** | Keeps account records clean by properly offsetting overpaid or prepaid amounts. | | **Faster Payments** | Speeds up the payment process by reducing the amount clients need to pay on new invoices. | | **Improved Professionalism** | Builds trust with clients by ensuring every dollar they pay is tracked and applied. | | **Fewer Refunds** | Applying credits is simpler than processing refunds and keeps cash flow healthy. | | **Simplified Bookkeeping** | Allocates payments across periods or invoices without needing to manually adjust totals. | *** ** * ** *** ## 🔁 Common Credit Scenarios * **Client Overpayment** A customer pays $600 for a $500 invoice. The $100 credit can be applied to a future invoice. * **Advance Payment** A client pays $1,000 upfront for ongoing consulting. You apply this credit to future invoices as services are delivered. * **Deposit Application** You collect a $300 deposit. When the final $800 invoice is ready, apply the $300 credit so the client only owes $500. * **Cancelled Service** If a client cancels a prepaid service, their unused portion becomes a credit for future use. *** ** * ** *** ## 🛠️ How to Apply a Credit ### **To apply a client credit:** 1. Go to **Invoices** 2. Find the invoice, click the three dots → **Apply Payment → Use Existing Credit** (available credit(s) will be shown) 3. Enter the amount to apply to invoice and click **Save** 💡 Client credits are managed in the **Clients \& Projects** section and can be applied in full or in part to any open invoice. *** ** * ** *** ## 🔎 Where to Check Client Credit Balances To check client credit balances, go to the **Clients \& Projects** section to view each client's available credit. *** ** * ** *** ## 📌 Important Rules About Credits | **Rule** | **Details** | |------------------------------|-------------------------------------------------------------------------------------------| | **No Overpayments** | You can't apply more credit than the invoice amount. Extra credit remains for future use. | | **Partial Credit Use** | Apply part of a client's credit and save the rest. | | **Multiple Credits Allowed** | Combine various credit sources up to the total amount due. | *** ** * ** *** ## 📘 Best Practices * **Apply Credits Promptly**: Use available credits as soon as an invoice is created to reduce owed balances. * **Communicate Clearly**: Let clients know when you've applied a credit so they aren't confused by the adjusted total. * **Track Credit Origins**: Note whether a credit came from a deposit, prepayment, or overpayment for cleaner records. * **Review Old Credits**: Periodically check for unused credits and follow up with clients or issue refunds per policy. *** ** * ** *** ## 💬 Example: Applying a Project Deposit **Scenario**: You receive a $500 deposit from Fancy Florals for a website project totaling $2,000. **Steps**: 1. Create the $2,000 final invoice 2. Apply the $500 deposit credit 3. Invoice now shows a $1,500 balance 4. ABC only pays the remaining $1,500 **Result**: Clean books, happy client, and no refund needed. *** ** * ** *** ## 🛠️ Troubleshooting Tips | **Issue** | **Try This** | |--------------------------------|-------------------------------------------------------------------------------------------------| | **Credit Not Available** | Check the payment record to confirm it was marked as a credit and not applied to an invoice. | | **Wrong Amount Applied** | Edit or undo the credit application and reapply the correct amount. | | **Invoice Shows Full Balance** | You may have saved but not applied the credit---verify the credit amount was entered and saved. | *** ** * ** *** ## 🤔 When to Use Credits vs. Refunds | **Use Credits When** | **Process Refunds When** | |--------------------------------------|----------------------------------| | Ongoing relationship with the client | Client requests their money back | | Small credit amounts | Client won't be invoiced again | | Easier than processing a refund | Company policy requires refunds | *** ** * ** *** --- language: "en" --- # Applying Partial Payments Partial payments let you record when a customer pays part of an invoice rather than the full amount. **Quicken Business \& Personal** automatically tracks these payments so you can clearly see what's been paid and what's still owed. *** ** * ** *** ## **What Is a Partial Payment?** A **partial payment** is any payment that covers only part of an invoice total. When you apply a partial payment, **Quicken Business \& Personal** updates the invoice to show its status as **Partial** and keeps track of both the **amount received** and the **balance remaining**. *** ** * ** *** ## **How to Apply a Partial Payment** ### **To link a downloaded transaction (after deposit)** Use this method when the payment has already been deposited and appears in your bank feed. 1. Go to **Invoices** in the left-hand panel. 2. Find the invoice, click the **three dots** , and select **Apply Payment → Link to Transaction**. 3. Choose the matching transaction, click **Next** , confirm the details, and click **Save**. 🔄 *This keeps your bank balance and invoice records in sync.* *** ** * ** *** ### **To create a payment for an invoice (before deposit)** Use this method when you've received a **physical payment** (cash or check) and want to record it before making the bank deposit. 1. Go to **Invoices**. 2. Find the invoice, click the **three dots → Apply Payment → Create Transaction**. 3. Enter the payment **date** , **deposit account** , and **amount** , then click **Save**. 📝 *Tip: Best for recording single payments. For multiple payments in one deposit, use the bulk deposit method described below.* *** ** * ** *** ## **How Partial Payments Are Handled** When you apply a partial payment to an invoice with multiple line items, **Quicken Business \& Personal** automatically divides the payment **equally across all items** on that invoice. Each item receives a **proportionate share** of the payment to keep your reports accurate. **Example:** If an invoice totals **$1,000** and includes **two line items** , a **$500 partial payment** applies **$250** to each item. When you run a **Profit and Loss report**, both items will appear separately---each showing the portion of the payment that applies to it, just like in your transaction list. *** ** * ** *** ## **Tracking Progress** You can view payment progress directly in the **Invoices list** or the **Client detail view.** Each new payment automatically reduces the remaining balance until the invoice status changes from **Partial** to **Paid.** *** ** * ** *** ## **Tips** * Record each partial payment as it's received. **Quicken Business \& Personal** will maintain the running balance automatically. * You can **edit or delete** a payment from the same invoice if needed. * Use reports such as **A/R Aging** or **Profit and Loss** to view open and partially paid invoices. --- language: "en" --- # Applying & Recording Payments ## Overview You've received a payment --- congratulations. Now it's time to record that payment in Quicken Business \& Personal to keep your books accurate and your business running smoothly. ### Why Recording Payments Matters Some business owners assume that once the money hits the bank, their work is done. But to truly understand your business performance, you need to track who paid, how much, and which invoice the payment applies to. Recording payments to invoices helps you: ✅ Keep income records accurate ✅ Avoid cash flow surprises ✅ Know what's been paid --- and what's still owed ✅ Stay ready for tax time ✅ Improve your chances of getting loans or credit ✅ Save time by avoiding costly errors 💡 Good records give you insights --- and insights build confidence. *** ** * ** *** ## 🔍 What's Your Situation? In Quicken Business \& Personal, there are four main ways to apply a payment to an invoice. How you record a payment depends on how the funds were received or deposited. ### 1️⃣ The payment has already been deposited and appears in your bank feed **→ Use:** Link a Bank Transaction to an Invoice **Common scenarios:** * Online payments (Stripe, PayPal, Square) * ACH transfers and wire transfers * Venmo, Zelle, or other digital payments * Mobile deposits that have already cleared * Checks deposited at the bank #### 2️⃣ You received a cash or check payment and want to record it before depositing it **→ Use:** Create a Payment for an Invoice **Common scenarios:** * Cash payments received in person * Checks received by mail or in person * Money orders or cashier's checks * Any physical payment not yet deposited #### 3️⃣ You're depositing multiple checks or cash payments together in one bank deposit **→ Use:** Record Multiple Payments in Bulk Deposit with an Undeposited Funds Account **Common scenarios:** * Multiple client checks deposited together * Combination of cash and checks in one deposit * Weekly or daily batch deposits * Any situation where your bank shows one deposit but you have multiple invoice payments #### 4️⃣ Your client has a credit from a deposit or overpayment **→ Use:** Apply an Existing Client Credit to an Invoice **Common scenarios:** * Client prepayments or retainers * Overpayments from previous invoices * Refunds being applied to new work * Deposit credits being used for final invoices *** ** * ** *** ## How to Apply Payments ### 1️⃣ Link a bank transaction to an invoice (after deposit) Use this method if the payment has already been deposited and appears in your bank feed. **Supported payment types:** * **Stripe payments:** Credit cards, debit cards, ACH * **PayPal payments:** PayPal balance, credit cards, bank transfers * **Traditional ACH:** Direct bank-to-bank transfers * **Wire transfers:** Domestic and international * **Digital wallets:** Venmo, Zelle, Apple Pay, Google Pay * **Mobile check deposits:** Photos of checks deposited via banking apps * **Traditional check deposits:** Checks deposited at bank branches or ATMs **To link a downloaded transaction:** 1. Go to **Invoices** in the left-hand panel 2. Find the invoice, click the three dots, and select **Apply Payment → Link to Transaction** 3. Choose the matching transaction, click **Next** , confirm the details, and click **Save** 🔄 This keeps your bank balance and invoice records in sync. #### 2️⃣ Create a payment for an invoice (before deposit) Use this method if you've received a physical payment and want to record it before it's deposited. **Best for these payment types:** * **Cash payments:** Any currency received in person * **Personal checks:** From individuals or businesses * **Business checks:** Company checks received by mail * **Money orders:** USPS, Western Union, or bank money orders * **Cashier's checks:** Bank-guaranteed payment instruments * **Traveler's checks:** Though rare, still occasionally used **To create and apply a payment:** 1. Go to **Invoices** 2. Find the invoice, click the three dots → **Apply Payment → Create Transaction** 3. Enter the payment date, deposit account, and amount, then click **Save** 📝 **Tip:** Best for individual payments. For multiple payments in one deposit, use the bulk deposit method below. #### 3️⃣ Record multiple invoice payments in one bank deposit **(Using an Undeposited Funds Account)** Use this method when you deposit several client payments at once. Your bank will show one combined deposit, while your records should reflect individual payments. 💡 **Example:** * You receive three $500 payments and deposit them together * Your bank shows one $1,500 deposit * Your records show three $500 invoice payments Without proper handling, reconciling this difference can be confusing. Using an Undeposited Funds account keeps everything aligned. ##### 🛠 Set up an Undeposited Funds account The Undeposited Funds account is not included by default --- you'll need to create it the first time you want to use it. But don't worry --- it's a quick, one-time setup. Once it's created, it will be saved in your account list and ready to use any time you record a bulk deposit. 1. Go to **Add Account → Add Manual Account** 2. Choose **Other Business** 3. Select **Undeposited Funds** 🔹 **Note:** This is not a real bank account. It's a temporary holding spot for payments received but not yet deposited. ##### ✅ To record a bulk deposit using the Undeposited Funds account: 1. Go to **Invoices** 2. For each invoice, click the three dots → **Apply Payment → Create Transaction** 3. In the payment details, select **Undeposited Funds** as the Deposit To account 4. Deposit the checks together at your bank 5. When the combined deposit appears in your bank feed, categorize it as a **Transfer to Undeposited Funds** ##### 📊 What This Does: ✅ Your bank account shows one $1,500 deposit ✅ Your invoice records show three $500 payments ✅ Everything reconciles --- cleanly and accurately ##### ❗ Forgot to use your Undeposited Funds account? No problem --- you can still split the bulk deposit after it hits your bank: 1. Open the downloaded bank transaction 2. Click the three dots → **View Transaction → Split** under Category 3. For each portion: * Select the correct Business Income category * Enter the amount * Check **Invoice Payment** * Link to the appropriate invoice 4. Click **Save** #### 4️⃣ Apply a client credit to an invoice Use this method when your client has a credit on their account --- from a deposit, prepayment, or overpayment. **Common credit scenarios:** * **Project retainers:** Upfront payments for ongoing work * **Overpayments:** Client paid more than the invoice amount * **Refund credits:** Money owed back to client, applied to new work * **Deposit credits:** Partial payments made when work was commissioned **To apply a client credit:** 1. Go to **Invoices** 2. Find the invoice, click the three dots → **Apply Payment → Use Existing Credit** (available credit(s) will be shown) 3. Enter the amount to apply to invoice and click **Save** 💡 Client credits are managed in the **Clients \& Projects** section and can be applied in full or in part to any open invoice. *** ** * ** *** ## Advanced Payment Scenarios ### Partial Payments If a client pays only part of an invoice, record the partial payment using any of the above methods. The invoice will remain open for the remaining balance, and you can apply additional payments as they come in. ### Multiple Payment Methods for One Invoice Some clients pay invoices using multiple methods (e.g., partial check payment and partial credit card). Record each payment separately using the appropriate method above. ### International Payments For international wire transfers or foreign currency payments, use the "Link a Bank Transaction" method once the payment appears in your bank feed. Your bank will handle currency conversion. ### Recurring Payments For clients who pay the same amount regularly (retainers, subscriptions), you can set up recurring invoices and link payments as they appear in your bank feed. *** ** * ** *** ## 💡 Best Practices * **Record payments promptly:** Don't wait until month-end to record payments * **Match payment dates:** Use the actual date you received the payment, not when you recorded it * **Keep payment records:** Store copies of checks, payment confirmations, and receipts * **Reconcile regularly:** Compare your invoice records to your bank statements monthly * **Use consistent methods:** Develop a routine for how you handle different payment types *** ** * ** *** ## 🆘 Troubleshooting Common Issues **Problem:** Payment appears in bank but doesn't match any invoice **Solution:** Check if it's a partial payment, overpayment, or payment for multiple invoices **Problem:** Client says they paid but no payment appears **Solution:** Verify payment method and check if payment is still processing **Problem:** Bank deposit doesn't match invoice total **Solution:** Check for bank fees, returned check fees, or processing charges **Problem:** Cannot find the payment transaction to link **Solution:** Verify the payment has cleared your bank and appears in your downloaded transactions By following this guide, you'll maintain accurate financial records and have a clear picture of your cash flow at all times. Remember: good payment tracking today saves hours of confusion later! --- language: "en" --- # Assets & Liabilities **Assets** are things you own that have value. **Liabilities** are debts you owe. Together, assets and liabilities help you understand your overall financial position---not just how much cash you have today. **Net worth** is the difference between the two: **Net Worth = Assets − Liabilities** *** ** * ** *** ## Why Assets \& Liabilities Matter Understanding assets and liabilities helps you see what you truly own versus what you owe. This can help you: * **Understand your true financial position** (beyond your bank balance) * **Track net worth over time** to measure financial progress * **Make better decisions about debt** and large purchases * **Use reports more effectively**, including net worth and balance sheet-style reporting *** ** * ** *** ## What Counts as an Asset or Liability ### Common assets Assets may include: * Checking and savings balances * Investment accounts * Accounts receivable (money clients owe you) * Business equipment or tools * Inventory * Real estate * Vehicles #### Common liabilities Liabilities may include: * Credit card balances * Loans and lines of credit * Mortgage balances * Car loans * Unpaid bills (accounts payable) > **Tip:** If you want a more complete net worth picture, you can manually track certain assets (like property, vehicles, or equipment) even if they aren't connected to a bank. *** ** * ** *** ## How Assets \& Liabilities Work Assets and liabilities work together to show your financial position at a specific point in time. Many transactions affect one side of the equation---and some affect both. ### Buying equipment with a credit card (business) You buy a $3,000 laptop using a business credit card. * **Assets increase** (you now own equipment) * **Liabilities increase** (you now owe the credit card company) * **Net worth stays the same** (asset and debt increase by the same amount) As you pay down the credit card, your liabilities decrease---improving your net worth. *** ** * ** *** #### Paying down a loan (personal or business) You make a $500 loan payment. * **Cash decreases** (an asset goes down) * **Loan balance decreases** (a liability goes down) Your net worth may not change in that moment, but reducing debt can strengthen your financial position over time. *** ** * ** *** #### Sending and collecting an invoice (business) You invoice a client for $5,000. * **Accounts receivable increases** (asset: money owed to you) When the client pays: * **Accounts receivable decreases** * **Bank balance increases** This helps you track what you've earned versus what you've received. *** ** * ** *** ## Where to Find Assets \& Liabilities You can view your overall asset and liability picture in the **Net Worth** To view totals at a glance: * **Accounts** → **Net Worth** (card) To see trends over time: * **Reports** → **Net Worth Report** ### Typical asset accounts include: * Checking and savings accounts * Investment accounts * Client invoices / accounts receivable * Manually tracked assets (property, vehicles, equipment) #### Typical liability accounts include: * Credit cards * Loans * Mortgages * Lines of credit *** ** * ** *** ## Best Practices **Track both sides for a complete picture.** Net worth is only meaningful when assets and liabilities are both accounted for. A net worth figure that only reflects your bank accounts and ignores your mortgage or loan balances isn't telling you much. **Separate business and personal accounts when possible.** For small business owners, keeping business and personal accounts distinct makes reporting cleaner and decision-making clearer. A business balance sheet should reflect business assets and liabilities --- not your personal mortgage. **Start with the accounts that matter most and build from there.** You don't need to track every asset you own on day one. Begin with your bank accounts, credit cards, and loans. Add investment accounts, property, and manually tracked assets over time as you want a fuller picture. **Check your net worth trend, not just the number.** A single net worth figure is interesting. Watching it move over months and years is where the real insight is. A slow, consistent upward trend --- even in small amounts --- is a meaningful signal that your financial position is improving. *** ** * ** *** ## Related topics * [Net Worth](https://info.quicken.com/sim/net-worth.md) * [Accounts](https://info.quicken.com/sim/accounts.md) --- language: "en" --- # Assigning Splits to a Series ## What You're Doing Here You're setting up how a transaction in this Series is split into multiple categories. This screen opens when you select **Assign Splits** while editing a Series. Once set up, these splits are applied automatically each time a transaction matches this Series. *** ** * ** *** ## When to Use Splits This step is optional. Use splits when a single transaction represents **more than one category** and you want to track those parts separately. Common examples: **Income (paychecks)** * Track gross income, taxes, and deductions * See where your money goes before it reaches your account **Bills or subscriptions** * Split bundled expenses into separate categories * Example: An insurance bill that covers home, auto, and life policies * Example: A monthly phone plan that covers business lines and personal lines If you only need to track the total amount, you can skip splits. *** ** * ** *** ## What This Screen Shows **Series Amount** The total amount of the transaction for this Series **Left to Split** The remaining amount you still need to assign Must equal **$0.00** before continuing **Split rows** Each row represents part of the transaction (income or expense) **Overflow** Automatically assigns any remaining amount Useful for handling small changes or variable amounts *** ** * ** *** ## How to Assign Splits ### 1. Add split rows Select **+ Split** to create a row for each part of the transaction *** ** * ** *** #### 2. Enter categories and amounts For each row: * Choose a **Category** * Enter an **Amount** * Click the three dot menu to add Tags, Exclusions, Notes, or --- in Quicken Business \& Personal --- Client \& Project Notes: * Enter all amounts as positive numbers --- Quicken handles the math. * **For paychecks: S** tart by entering your **gross income** (before deductions), then add taxes and deductions as separate split rows. *** ** * ** *** #### 3. Use Overflow for the remainder Leave the **amount** set to **Overflow** --- this allows Quicken to automatically fill in any remaining amount You can change the **category** to control where that remaining amount is recorded This is especially helpful if the transaction amount varies slightly --- Overflow keeps your splits accurate without needing updates each time *** ** * ** *** #### 4. Check your total Make sure: * **Left to Split = $0.00** If not: * Adjust amounts, or * Use **+ Left to Split** to fill the remaining balance *** ** * ** *** #### 5. Save your splits Select **Continue** , then **Update** Your splits will now apply automatically to future transactions in this Series *** ** * ** *** ## Tips * Start simple --- you can always refine splits later * Update splits anytime if amounts change * Use Tags (optional) for deeper tracking *** ** * ** *** ## Related Topics * [Understanding Your Spending Plan](https://info.quicken.com/sim/understanding-your-spending-plan.md) * [Setting Up a Paycheck Series with Splits](https://info.quicken.com/sim/setting-up-a-paycheck-series-with-splits.md) * [Including a Savings Transfer in Your Paycheck Series](https://info.quicken.com/sim/including-a-savings-transfer-in-your-paycheck-seri.md) * [Using Tags to Track Projects and Clients](https://info.quicken.com/sim/using-tags-to-track-projects-and-clients.md) [Categories vs. Tags: What's the Difference?](https://info.quicken.com/sim/categories-vs-tags-what-s-the-difference.md) --- language: "en" --- # Attaching Files to Transactions ## Overview Attaching a file keeps supporting documentation connected directly to a transaction. Instead of storing invoices, contracts, statements, warranty documents, or other financial records in separate folders, you can keep them with the transaction they support. This makes it easier to understand why a transaction occurred, verify an expense, provide documentation to an accountant or business partner, or locate an important record later. **Have a receipt?** Use [Managing Expense Receipts](https://info.quicken.com/sim/managing-expense-receipts.md) instead. Quicken can scan receipts, extract important details, and help you attach the receipt to an existing transaction or create a new transaction. *** ** * ** *** ## Why Attach Supporting Documents A transaction tells you that money moved. An attachment can provide the information behind it. Supporting files can help you: * Document the purpose of a business expense * Keep invoices with the payments that satisfy them * Preserve contracts or agreements related to a payment * Keep tax or accounting documentation together * Save warranty or purchase information for future reference * Answer questions from accountants, clients, business partners, or others For example, a transaction may show a $1,500 payment to a contractor. Attaching the contractor's invoice gives you the supporting details behind that payment. *** ** * ** *** ## Who Should Use Attachments Attachments can be useful when you want additional documentation connected to a financial transaction. You may find them especially helpful if you: * Run a business or track business expenses * Work with vendors, contractors, or clients * Submit or track reimbursements * Maintain records for accounting or taxes * Keep documentation for large personal purchases, warranties, repairs, or insurance If a file helps explain or support a transaction, consider attaching it. *** ** * ** *** ## How Transaction Attachments Work Each transaction can have one or more files attached to it. Once uploaded, the files remain connected to the transaction so you can return to them whenever you need the supporting information. Attaching a file does not change the transaction itself. It adds supporting documentation to the transaction. You might attach: * Invoices * Contracts or agreements * Statements * Estimates or work orders * Warranty documents * Reimbursement documentation * Tax-related supporting documents * Other records associated with the transaction *** ** * ** *** ## Examples ### Vendor Invoice Your business pays a graphic designer $1,200 for a project. Attach the invoice to the payment transaction so you can quickly see what the payment covered when reviewing the expense later. #### Reimbursement You reimburse an employee or business partner for an approved expense. Attach the supporting reimbursement documentation so you have a record of why the payment was made. #### Home Repair You pay a contractor for a home repair. Attach the estimate, invoice, or warranty information so you can find the documentation later without searching through email or paper files. *** ** * ** *** ## File Types You can attach supported files such as: * JPG * PNG * PDF *** ** * ** *** ## Add or Manage an Attachment You can add attachments from Transaction detail and return to the same area later to view or remove them. 1. From the left navigation menu, select **Transactions**. 2. Locate the transaction you want to document. 3. Open **Transaction detail**. 4. In the **Attachments** section, select **Upload**. 5. Locate and select the file, or drag and drop it into the upload area. 6. Select **Update** when finished. The file remains connected to the transaction until you remove it. *** ** * ** *** ## Tips for Managing Attachments * Attach documents when you enter or review the transaction so you do not have to search for them later. * Use clear, readable files. * Use descriptive filenames, especially when attaching multiple documents to one transaction. * For business transactions, consider what documentation you may need later for taxes, accounting, reimbursements, or an audit. * Attach only documents that provide useful information about the transaction. *** ** * ** *** ## Have a Receipt? You can attach receipts, but use **Expense Receipts** in the left Navigation menu to upload a purchase receipt. Quicken scans details such as the merchant, date, and amount and can help you: * Find and attach the receipt to an existing transaction * Create a new transaction from the receipt * Review and categorize the transaction * Create splits when needed * Access the receipt later from the transaction or Expense Receipts For more information, see [Managing Expense Receipts](https://info.quicken.com/sim/managing-expense-receipts.md). *** ** * ** *** ## The Bottom Line Attachments help you keep the documentation behind a transaction with the transaction itself. By connecting invoices, contracts, statements, warranties, and other supporting files to your financial records, you can spend less time searching for documents and have the information you need when questions arise. *** ** * ** *** ## Related Topics * [Working With Transactions](https://info.quicken.com/sim/working-with-transactions.md) * [Mileage Tracker](https://info.quicken.com/sim/mileage-tracker.md) * [Running and Exporting Tax Reports](https://info.quicken.com/sim/running-tax-reports.md) --- language: "en" --- # Overview: What’s Due & What’s Coming ## Overview The **Overview tab** is part of the **Bills \& Income dashboard** . To access it, select **Bills \& Income** from the left navigation, then choose **Overview** at the top of the page. The **Bills \& Income Overview** tab is your financial starting point --- the first place to check when you want to understand what's happening with your money right now. It answers a simple but critical question: **What needs my attention today?** Instead of looking backward at past transactions, the Overview focuses on what's **coming up, overdue, and expected** --- so you can stay ahead of bills, income, and cash flow. **Reminder**: The Bills \& Income Overview is based on the recurring bills, income, and reminders you've set up in Quicken. It reflects what you've told Quicken to expect --- not every transaction in your accounts. *** ** * ** *** ## Who This Is For The Bills \& Income dashboard Overview is useful for: * **Everyday users** who want a quick daily or weekly financial check-in * **Planners** who like to see upcoming bills and paychecks in advance * **Busy households** managing subscriptions, recurring bills, and income timing * **Small business owners or freelancers** tracking near-term cash flow If you don't want to run reports or dig through transactions, this is your **at-a-glance control center**. *** ** * ** *** ## When to Use the Overview View Use Bills \& Uncome Overview tab when you want to: * Start your day or week with a **quick financial check-in** * See if your **upcoming income covers your upcoming expenses** * Catch **overdue or unconfirmed payments** * Plan ahead for a **tight cash flow period** * Understand **when bills and income hit during the month** Think of it as your **financial "now + next" view**. *** ** * ** *** ## What You'll See The Overview tab is organized into four sections that work together to give you a complete picture of your near-term finances: ### Summary Projects your **income, expenses, and net balance** for the selected date range. * Based on your scheduled bills, deposits, and recurring transactions * A **positive net** means you're covered * A **low or negative net** signals you may need to adjust timing or spending This replaces manual math --- Quicken does the calculation for you. *** ** * ** *** #### Reminders Your **financial to-do list**. Shows all upcoming scheduled transactions, including: * Bills * Paychecks * Subscriptions * Transfers and deposits Everything you've told Quicken to expect appears here, so nothing sneaks up on you. *** ** * ** *** #### Past Due Highlights anything that needs attention. These are reminders that: * Passed their due date * Haven't been confirmed or recorded This could mean: * A payment processed but hasn't been marked complete * Something was missed entirely Nothing disappears --- items stay here until you take action. *** ** * ** *** #### Monthly Calendar A visual view of **when money moves**. * Each dot represents a scheduled Reminder * Quickly shows patterns like: * Bills clustering at the start of the month * Income timing vs. expenses * Tight windows between paychecks This helps you **see timing**, not just amounts. *** ** * ** *** ## Why Start Here Most financial tools help you analyze the past. The Overview helps you **manage the present and prepare for what's next**. * **No calculations needed** --- your net is already projected * **No guessing** --- overdue items are clearly surfaced * **No digging** --- everything is visible on one screen If something looks off, you'll know immediately --- and can act before it becomes a problem. *** ** * ** *** ## Take Action Without Leaving the Page You can manage everything directly from the Overview: * Click a Reminder to view and edit its full series * Use the **three-dot menu** to adjust a single instance * Select **+ Series** to create a new recurring transaction This makes the Overview tab not just a dashboard --- but a **working control panel**. *** ** * ** *** ## Examples ### Daily check-in (Personal) You open the Overview and see one Past Due item --- a subscription that already processed. You confirm it in seconds and move on, knowing everything else is on track. *** ** * ** *** #### Planning ahead (Personal) You extend your view to 60 days and notice your net gets tight mid-month. The calendar shows multiple bills and subscriptions hitting the same week as rent. You decide to hold off on a discretionary purchase and plan to cover the gap with savings, avoiding a cash crunch before it happens. *** ** * ** *** #### Catching unexpected charges A Reminder appears for a service you thought you canceled. Because you see it before it processes, you cancel in time and avoid the charge. *** ** * ** *** #### Cash flow visibility (Small Business) You expect a client payment mid-week and have vendor payments due shortly after. The Summary shows a positive net --- confirming you're covered without running reports. *** ** * ** *** #### Managing timing pressure (Freelancer) Your income is irregular, but your bills aren't. The Overview shows whether confirmed income covers fixed expenses --- helping you decide when to spend or hold back. *** ** * ** *** ## Tips * **Adjust your date range** (30, 60, 90 days) to match your planning horizon * Treat **Past Due as a required action list**, not a suggestion * Use the **calendar at the start of each month** to spot timing issues early * Check the **All Past Due panel** (right side) for items outside your current range * **Review included bills and income regularly**, so your projections are correct. *** ** * ** *** ## Related Topics * Bills \& Income * Using the Cash Flow Tab * Using the All Series Tab * Managing Recurring Transactions * Tracking a Refund --- language: "en" --- # Bills & Income: Your Financial Preview ## Overview The **Bills \& Income dashboard** shows what's coming up next --- your upcoming bills, expected income, and scheduled transactions --- so you can see how money will move *before it happens*. On the **Overview tab** you can: * See a **summary** of income, expenses, and net for the selected time period * Review **upcoming and past-due reminders** * View scheduled activity on the **calendar** * Quickly spot what needs attention next This is your day-to-day check-in. The Bills \& Income dashboard is always available from the left navigation menu. *** ** * ** *** ## Your Financial Preview Bills \& Income helps you move from reacting to planning. Instead of piecing things together across accounts, you can: * **See what's due and what's coming in** * **Understand how it affects your balance** * **Take action before transactions happen** *** ** * ** *** ## How It's Organized The dashboard is divided into four tabs --- each designed for a different task: ### Overview --- *Start here* * Quick snapshot of what's happening now * Upcoming bills, income, and reminders * Calendar view of scheduled activity #### Cash Flow --- *Plan ahead* * Project how your balances will change over time * See when money comes in and goes out * Spot potential shortfalls early #### All Series --- *Manage recurring items* * View and edit all recurring bills, income, and transfers * Pause, delete, or adjust schedules * Control what drives your projections #### Refunds --- *Track expected money* * Log and monitor refunds * Get alerted if they don't arrive * Keep expected money visible until it's received *** ** * ** *** ## Where to Go First * **Start with Overview** for a quick check-in * **Review All Series** to confirm your recurring bills and income are accurate * Then use **Cash Flow** to plan ahead with confidence 👉 *Cash Flow projections are only as accurate as the recurring items in All Series.* *** ** * ** *** ## Use for Planning Ahead Your accounts show what already happened. Bills \& Income shows what's about to happen --- so you can plan, avoid surprises, and stay in control. *** ** * ** *** ## **Examples** **Timing gap** Your paycheck arrives after rent is due. Bills \& Income helps you spot the gap early so you can move money or adjust plans. *** ** * ** *** **Irregular income** If you're waiting on a client payment, you can see whether it will arrive before upcoming expenses --- and plan accordingly, moving money if needed. *** ** * ** *** **Subscription check** You notice your expenses feel higher than expected. Use **Overview** or **All Series** to scan upcoming subscriptions and identify anything you can cancel or pause before you're charged. *** ** * ** *** **Busy bill week** Several bills are due around the same time. The **calendar and reminders list** help you see the cluster so you can make sure enough money is in your account---or adjust timing if needed. *** ** * ** *** **Income timing clarity** If you're paid multiple times a month (or from different sources), use **Cash Flow** to see exactly when income hits and how it lines up with upcoming expenses. *** ** * ** *** **Planning a larger purchase** Before making a big purchase, check **Cash Flow** to see how it will impact your balance in the coming weeks---so you can decide whether to move forward or wait. *** ** * ** *** **Fixing inaccurate projections** If something in **Cash Flow** doesn't look right, go to **All Series** to review your recurring bills and income. Updating those ensures your projections reflect reality. *** ** * ** *** ## **Getting to Bills \& Income** Select **Bills \& Income** from the left navigation menu. The Overview tab opens by default, giving you a snapshot of what's happening now and what's coming next. *** ** * ** *** ## **Related Topics** * [Overview: What's Due \& What's Coming](https://info.quicken.com/sim/bills-income-overview-managing-cash-flow-and-upcom.md) * [Cash Flow: Project Your Balances Over Time](https://info.quicken.com/sim/using-the-bills-income-cash-flow-tab.md) * [All Series: Manage Recurring Bills \& Income](https://info.quicken.com/sim/using-the-bills-income-all-series-tab.md) * [Refunds: Track Money You're Owed](https://info.quicken.com/sim/tracking-a-refund.md) --- language: "en" --- # Bulk Deposit ## Definition A bulk deposit is when you combine several payments --- such as checks, cash, or both --- and deposit them into your bank account as one transaction instead of depositing each payment separately. *** ** * ** *** ## Why It Matters Your bank records a bulk deposit as one total amount, even though it may represent payments from several different customers. For a business, keeping those individual payments connected to the combined deposit is important for accurate customer balances, invoice records, and bank reconciliation. Without that connection, it can be difficult to tell which customer payments make up the amount shown on your bank statement. *** ** * ** *** ## How This Works in Quicken **(Quicken Business \& Personal only)** Quicken gives you two ways to connect a bulk deposit to the individual customer payments it contains: * **Undeposited Funds** --- record each customer payment individually before making the bank deposit, then record the combined deposit as a transfer from **Undeposited Funds**. * **Split Deposit** --- if the combined deposit has already been downloaded from your bank, split it into the individual customer payments that make up the total. Both methods allow you to keep the individual payment records while matching them to the single deposit shown by your bank. *** ** * ** *** ## **Related Terms and Topics** * [Handling Bulk Deposits and Undeposited Funds](https://info.quicken.com/sim/using-the-undeposited-funds-account-for-bulk-depos.md) * [Accounts Receivable](https://info.quicken.com/sim/accounts-receivable.md) * [Undeposited Funds Account](https://info.quicken.com/sim/undeposited-funds-account.md) --- language: "en" --- # Managing Your Business Income **Managing your business income means knowing when you've earned money, when you've been paid, and how each transaction affects your cash flow and reports.** This section walks through the tools in Quicken Business \& Personal that help you bill clients, record payments, handle deposits, and keep income accurate for reports and taxes. * [Sales \& Billing Dashboard: Invoices, Estimates, Receipts](https://info.quicken.com/sim/sales-billing-dashboard-invoices-estimates-receipt.md) * [Products \& Services](https://info.quicken.com/sim/products-services.md) * [Estimates, Invoices, and Sales Receipts: What's the Difference?](https://info.quicken.com/sim/estimates-invoices-and-sales-receipts-whats-the-di.md) * [Creating and Managing Estimates](https://info.quicken.com/sim/creating-and-managing-estimates.md) * [Creating and Managing Invoices](https://info.quicken.com/sim/creating-and-managing-invoices.md) * [Accounts Receivable / Client Invoices Account](https://info.quicken.com/sim/accounts-receivable-and-your-client-invoices-accou.md) * [Applying \& Recording Payments](https://info.quicken.com/sim/applying-payments-to-invoices.md) * [Applying Partial Payments](https://info.quicken.com/sim/applying-partial-payments.md) * [Handling Bulk Deposits and Undeposited Funds](https://info.quicken.com/sim/using-the-undeposited-funds-account-for-bulk-depos.md) * [Recording a Client Deposit or Prepayment](https://info.quicken.com/sim/recording-a-client-deposit-or-prepayment.md) * [Applying Credits to Invoices](https://info.quicken.com/sim/applying-credits-to-invoices.md) * [Creating Credit Memos](https://info.quicken.com/sim/creating-credit-memos.md) * [Applying Credit Memos to Invoices](https://info.quicken.com/sim/applying-credit-memos-to-invoices.md) * [Issuing and Applying Refunds](https://info.quicken.com/sim/issuing-and-applying-refunds.md) * [Owner's Draws and Capital Contributions](https://info.quicken.com/sim/owner-s-draw.md) * [Using Sales Receipts](https://info.quicken.com/sim/using-receipts-to-track-immediate-payments.md) * [Online Payments with Stripe](https://info.quicken.com/sim/online-payments-with-stripe.md) --- language: "en" --- # Cash Flow ## Definition Cash flow is the movement of money in and out over a period of time --- how much money is coming in, how much is going out, and when those movements happen. *** ** * ** *** ## Why It Matters Cash flow helps you understand whether you'll have enough money available when you need it. Even if your income is greater than your expenses overall, timing can create problems --- for example, if bills are due before your paycheck arrives or, for a business, before customers pay their invoices. Watching cash flow can help you spot potential shortfalls before they become urgent. *** ** * ** *** ## How This Works in Quicken In Quicken, you can view projected cash flow from the **Cash Flow** tab on the **Bills \& Income** dashboard. It shows how your balances are expected to change over time based on the recurring bills, income, and reminders you've scheduled in Quicken. This gives you a forward-looking view of when money is expected to come in, when it will go out, and how those events may affect your balance. *** ** * ** *** ## Related Terms * [Income](https://info.quicken.com/sim/income.md) * [Expense](https://info.quicken.com/sim/expense.md) * [Accounts Receivable](https://info.quicken.com/sim/accounts-receivable.md) --- language: "en" --- # Choosing Cash vs. Accrual Accounting ## Overview Quicken Business \& Personal supports both **cash basis** and **accrual basis** accounting. The choice depends on how your business operates. * **Cash basis:** Records income and expenses when money changes hands (income when you receive payment, expenses when you pay bills) * **Accrual basis:** Records income when it's earned (invoiced) and expenses when they're incurred---even if no money has changed hands yet Understanding accounting methods is crucial because it affects how you: * See your business performance in reports * Plan cash flow * Prepare taxes **Cash basis** shows actual money movement, while **accrual basis** shows what you've earned and owe regardless of payment timing. Most small businesses use cash basis for tax filing because it's simpler, but accrual basis gives a more complete picture of financial performance. **💡 Key Advantage:** In Quicken Business \& Personal, **you select your default method when setting up your business, but you can switch between methods when running reports**---so you can manage your business on accrual basis and still file taxes on cash basis. *** ** * ** *** ## **🔍 What's Your Situation?** ### **💰 Scenario 1: Simple Cash-Based Business** You run a service business where clients typically pay immediately or within a few days, and you want reports that match your bank account activity. *Example: Tom's handyman service---clients pay when work is completed, expenses are paid as incurred.* → **Use Cash Basis Accounting** ### **📋 Scenario 2: Invoice-Based Business** You send invoices and need to track what you've earned vs. what you've been paid to manage cash flow and business performance effectively. *Example: Sarah's consulting firm---she invoices monthly, clients pay 30 days later, and she needs to track both performance and cash flow.* → **Use Accrual Basis Accounting** ### **🔍 Scenario 3: Tax vs. Management Reporting** You want detailed business insights for management decisions but need simple cash-based reports for tax filing. *Example: David's marketing agency---he needs accrual reports to understand true profitability but files taxes on cash basis.* → **Use Accrual for Business Management, Cash for Tax Reporting** ### **📊 Scenario 4: Growing Business with Credit Terms** You offer payment terms to clients (Net 30), carry inventory, or have significant accounts payable that affect your business planning. *Example: Lisa's design agency---she has multiple projects running, offers credit terms, and needs to match project costs with revenue.* → **Use Accrual Basis Accounting** *** ** * ** *** ## **Understanding the Two Methods** ### **📘 Cash Basis Accounting** **How it works:** Cash basis tracks income and expenses **only when money actually changes hands**. #### **Income Recording:** * When you **receive payment** from a customer * When cash, checks, or electronic payments **hit your bank account** * Not when you send an invoice or complete work #### **Expense Recording:** * When you **pay bills** or make purchases * When money **leaves your bank account** * Not when you receive bills or incur costs **📌 Example:** You complete a $1,000 project and send an invoice on March 15. The client pays on April 10. With cash basis, this income appears in your **April** reports---when you actually received the money. #### **✅ Benefits of Cash Basis:** * **Simple to understand and implement**---matches your bank activity * **Closely aligns with actual cash flow**---shows money you can actually spend * **Preferred for tax filing** by most small businesses and sole proprietors * **Less complex record-keeping**---no need to track unpaid invoices or bills #### **⚠️ Limitations:** * **Doesn't show what's owed to you** (outstanding invoices) * **Doesn't show what you owe** (unpaid bills) * **Can misrepresent business performance** if there are timing differences * **Poor for cash flow planning** beyond current bank balance *** ** * ** *** ### **📗 Accrual Basis Accounting** **How it works:** Accrual basis tracks income and expenses **when they occur**, regardless of payment timing. #### **Income Recording:** * When you **complete work** or **send an invoice** * When you've **earned** the income, even if not yet paid * Creates accounts receivable for unpaid invoices #### **Expense Recording:** * When you **receive bills** or **incur costs** * When the expense **relates to your business**, even if not yet paid * Creates accounts payable for unpaid bills **📌 Example:** You complete a $1,000 project and send an invoice on March 15. The client pays on April 10. With accrual basis, this income appears in your **March** reports---when you earned it. #### **✅ Benefits of Accrual Basis:** * **More accurate picture of business performance**---shows what you've truly earned * **Better for matching income with related expenses** in the same time period * **Ideal for cash flow forecasting**---shows money coming in and going out * **Shows complete financial position**---includes receivables and payables #### **⚠️ Limitations:** * **More complex to manage**---requires tracking unpaid invoices and bills * **Doesn't reflect actual bank balance**---shows earned vs. received money * **Can show profit when you're cash-poor** if customers haven't paid yet * **May require more detailed record-keeping** for accuracy *** ** * ** *** ## **Using Accounting Methods in Quicken Business \& Personal** ### **Setting Your Default Method** When you set up your business, you'll choose a default accounting method: 1. **During business setup:** Select Cash or Accrual as your primary method 2. **In Business Settings:** Change your default method anytime 3. **This affects:** How transactions appear in reports and dashboards by default ### **Switching Between Methods for Reports** Quicken lets you view reports in either method regardless of your default: 1. **Generate any business report** (Profit \& Loss, Balance Sheet, Tax Summary) 2. **Look for accounting method options** in the report settings 3. **Toggle between Cash and Accrual views** to compare results 4. **Use different methods for different purposes** ### **💡 Practical Application:** * **Day-to-day management:** Use Accrual reports to see complete business performance * **Tax preparation:** Switch to Cash basis for tax filing requirements * **Cash flow planning:** Compare both views to understand timing differences * **Client presentations:** Use Accrual to show true business growth and performance **Example Workflow:** Sarah runs her consulting business using accrual basis for management decisions. Each month, she reviews accrual-based Profit \& Loss reports to understand true performance. At tax time, she generates the same reports in cash basis for her accountant. *** ** * ** *** ## **💡 Best Practices and Tips** ### **Choosing Your Method** * **Start with cash basis** if you're new to business accounting---it's simpler to understand * **Consider accrual basis** if you invoice clients or need detailed business performance tracking * **Consult your accountant** about tax requirements for your business type and size * **Think about your business model**---service businesses often prefer cash, product businesses often need accrual ### **Managing Your Method** * **Be consistent** throughout the tax year---don't switch methods mid-year for tax purposes * **Understand the timing differences** between your chosen method and your cash flow * **Use both views in Quicken** to get complete insights into your business * **Train your team** (if applicable) on which method you use for day-to-day decisions ### **Reporting Strategy** * **Run monthly reports in both methods** to understand the differences * **Use accrual for business planning** and performance analysis * **Use cash basis for tax preparation** and compliance (unless required otherwise) * **Compare year-over-year** using the same method for consistent analysis ### **Common Pitfalls to Avoid** * **Don't confuse accounting method with cash flow**---accrual shows earned money, not available money * **Don't switch methods randomly**---consistency is key for meaningful comparisons * **Don't ignore your non-preferred method**---both views provide valuable insights * **Don't make spending decisions** based solely on accrual reports if cash flow is tight ### **When to Reconsider Your Choice** * **Business growth** may require more sophisticated accrual-based tracking * **Changes in business model** (like offering credit terms) may favor accrual * **Tax law changes** may affect which method is most advantageous * **Investor or lender requirements** may dictate using accrual basis for financial statements ### **Getting Professional Help** * **Consult a CPA** about the best method for your specific business and tax situation * **Review annually** with your tax professional to ensure your method still makes sense * **Get advice before switching methods** as this may have tax implications * **Ask about hybrid approaches** where you manage with one method but file taxes with another --- language: "en" --- # Cash vs. Accrual Accounting ***Quicken Business \& Personal Only*** ## Overview Cash and accrual accounting are two different ways to record income and expenses. **Cash accounting** records income when you receive payment and expenses when you pay bills. **Accrual accounting** records income when you earn it and expenses when you incur them---regardless of when money changes hands. A simple way to think about it: **Cash accounting follows your bank account. Accrual accounting follows what you've earned and what you owe.** *** ** * ** *** ### Why It Matters Your accounting method affects how you view your business's financial health and how reports reflect performance. Understanding the difference helps you: * Choose the right view for tax preparation * Make informed cash flow decisions * See your true profitability for a given period * Match income and expenses to the correct timeframe Using the wrong method can make your business look more---or less---profitable than it actually is. *** ** * ** *** ### Cash vs. Accrual: How to Choose Many small businesses use **cash accounting** because it's simple and closely matches actual cash on hand. You may prefer **cash accounting** if you: * Get paid at the time of sale * Don't send invoices or track unpaid bills * Focus on day-to-day cash flow You may benefit from **accrual accounting** if you: * Send invoices and get paid later * Track Accounts Receivable or Accounts Payable * Want reports that reflect when work was done, not just when cash moved Some business owners use **both views**---cash for cash flow awareness, accrual for understanding profitability. *** ** * ** *** ### Examples #### Income Example You complete a $5,000 consulting project in December but don't receive payment until January. * **Cash accounting:** Income appears in January * **Accrual accounting:** Income appears in December (when it was earned) *** ** * ** *** #### Expense Example You receive a $1,200 software bill in December but pay it in January. * **Cash accounting:** Expense appears in January * **Accrual accounting:** Expense appears in December (when it was incurred) These timing differences can significantly change how a month or year looks in reports. *** ** * ** *** ## Where to Find It in Quicken Business \& Personal ### Settings You can set your business accounting method to default to cash or accrual in **Settings \> Business.** Select your business, select your accounting method **Cash** or **Accrual** , and click **Save**. ### Reports Most reports allow you to switch between cash and accrual views. * Navigate to **Reports** * Select a report * Choose **Customize** * Select **Cash** or **Accrual** basis Reports default to **cash basis**, but toggling lets you compare views and better understand timing differences. **Related Topics:** * [Choosing Cash vs. Accrual Accounting](https://info.quicken.com/sim/cash-vs-accrual-accounting.md) * [Running Tax Reports](https://info.quicken.com/sim/running-tax-reports.md) --- language: "en" --- # Categories If you want to know where your money actually goes---whether it's rent, supplies, meals, or software---you need categories. Without them, your financial reports will be meaningless lists of transactions instead of useful insights about your spending and income patterns. *** ** * ** *** ## **What are Categories?** Categories are labels that describe what each transaction is for---like "Office Supplies," "Advertising," or "Consulting Income." They organize your money by purpose rather than by account, letting you see patterns across all your transactions. Think of categories as answering the question: "What was this money for?" *** ** * ** *** ## **Why Using Categories Matters** Categories transform raw transactions into meaningful financial insights. Understanding categories lets you: * See exactly where your money goes each month * Generate accurate Profit \& Loss reports for taxes * Identify spending patterns and find ways to save money * Track deductible business expenses by category * Make informed decisions about where to cut or invest Without proper categories, you can't tell if you're spending $500 or $5,000 on marketing, and your tax reports will be incomplete or wrong. *** ** * ** *** ## **Real-World Example** You spend $1,200 at an office supply store in January. You categorize it as "Office Supplies." Throughout the year, you track all office supply purchases this way. At tax time, you run a report and discover you spent $8,500 total on office supplies---a fully deductible business expense you can now claim with documentation. Another example: You notice your "Meals \& Entertainment" category shows $3,000 in spending last quarter. You realize you're overspending on client lunches and adjust your budget accordingly. *** ** * ** *** ## **Where to Find Categories** * Navigate to: **Settings** \> **Categories and Tags** to view and manage all categories * Apply categories: When entering any transaction, click the **Category** dropdown * View spending and income by category in **Reports** *** ** * ** *** ## **Related Topics:** * [Managing Categories](https://info.quicken.com/sim/managing-categories.md) * [Setting Up Business Categories](https://info.quicken.com/sim/setting-up-business-categories.md) * [Categories vs. Tags: What's the Difference?](https://info.quicken.com/sim/categories-vs-tags-what-s-the-difference.md) * [Creating, Editing, and Deleting Category \& Tag Rules](https://info.quicken.com/sim/creating-editing-and-deleting-category-rules.md) * [Mapping Categories to IRS Tax Schedules](https://info.quicken.com/sim/mapping-categories-to-irs-tax-schedules.md) --- language: "en" --- # Categories vs. Tags: What's the Difference? Categories and tags are powerful tools for organizing your business and personal finances. While they're often used together, they serve different purposes---and using both strategically gives you deeper insight into your income, expenses, clients, projects, and more. **Categories** organize your income and expenses for reports and taxes. **Tags** add extra context---like clients, projects, or events---across multiple categories. **Think of it this way:** Categories = *what* the money was for Tags = *why, where,* or *for whom* ## 📝 Real life examples ### 🍽️ Lunch with a Client on a Business Trip You buy lunch for a client during a trip to Chicago. **How to track it:** * **Category:** `Business:Meals` * **Tags:** `Client A`, `Chicago Trip` **Why it matters:** This setup lets you: * Track all business meals in your **Profit \& Loss report** * Run reports or filter by **Client A** or **Chicago Trip** ### 🎤 Attending a Business Conference You attend a marketing conference in San Diego and incur multiple expenses. **Categories:** * `Airfare → Business:Travel` * `Hotel → Business:Lodging` * `Meals → Business:Meals` * `Conference Fee → Business:Education` **Tags:** `San Diego Conference`, `2025 Marketing` **Why it matters:** Even though the expenses fall under different categories, the **tags** help you view your total cost for the event --- ideal for budgeting, tax deductions, or planning future trips. ## 🔍 Categories - what the money was for **Categories** classify the **type of transaction**. They are required for every entry and used in most standard reports. * Organized in a **parent-child hierarchy** , like `Business:Travel` or `Income:Consulting` * **Only one category** can be assigned per transaction * Used for **budgeting, tax prep**, and key reports like Profit \& Loss * Often auto-assigned by Quicken --- or manually added and remembered for future transactions 💡 **Tip:** If a transaction isn't categorized automatically, you can assign it manually --- Quicken will remember your choice. ## 🏷️ Tags - add custom tracking **Tags** provide extra context. Use them to track purpose, project, person, or event --- across different categories. * **Optional**, user-defined, and flexible * You can apply **multiple tags** to the same transaction * Great for **tracking clients, projects, trips, reimbursements, hobbies, or shared expenses** * Easily searchable and filterable for custom insights 💡 **Pro Tip:** Use tags to run custom reports or group related expenses --- without changing your core category setup. ## 📊 Quick reference categories vs. tags | Feature | 📂 **Categories** | 🏷️ **Tags** | |-----------------|---------------------------------------|-----------------------------------------------| | **Purpose** | Classify what the transaction is | Add extra info --- why, where, or for whom | | **Structure** | Organized in a hierarchy | Flat list --- use one or more per transaction | | **Required?** | ✅ Yes | Optional | | **Example Use** | `Business:Meals`, `Rent`, `Utilities` | `Client A`, `Florida Trip`, `Reimbursable` | | **Helps With** | Budgeting, tax prep, Profit \& Loss | Filtering, project/event tracking | | **Reports** | Used in most reports | Available in custom reports and searches | | **Best For** | Understanding spending categories | Seeing trends across categories | ## 📌 Best practices * ✅ Use **categories** to classify every income and expense transaction * 🏷️ Use **tags** to track **projects, events, people**, or shared goals * 🔁 Be consistent --- avoid variations like `Client A` vs. `client a` * 📊 Use reports by tag for deeper analysis (like reimbursements, client costs, or event budgeting) --- language: "en" --- # Creating and Managing Estimates **Applies to Quicken Business \& Personal** ## Overview An **estimate** (also called a quote or proposal) lets you share pricing with a client **before work begins**. It outlines scope, pricing, and terms without creating any financial transactions. Once accepted, you can convert the estimate into an invoice in one step, avoiding duplicate data entry and ensuring accuracy. *** ** * ** *** ## Where Estimates Fit in the Sales Workflow > **Quote → Bill → Get Paid** Estimates represent the **quote** stage of your sales process. They are optional and are most useful when pricing or scope needs approval before work begins. Depending on how you do business, your workflow may look like: * **Estimate → Invoice → Payment** When pricing is approved before work starts * **Invoice → Payment** When work is completed before billing * **Sales Receipt** When payment is received immediately Use estimates when they add clarity to the agreement. Skip them when they don't. > **Tip:** If work is already complete or payment happens immediately, start with an invoice or sales receipt instead. *** ** * ** *** ## Why Estimates Matter Estimates are often your **first formal interaction** with a client about cost. A clear estimate: * Sets expectations and builds trust * Documents exactly what is included in the quoted price * Reduces misunderstandings and scope disputes * Makes invoicing faster and more accurate * Helps you track which quotes turn into real work Because estimates live in the same system as invoicing and bookkeeping, you maintain a complete record from quote to payment. *** ** * ** *** ## How Estimates Work An estimate looks like an invoice but **does not affect your books**. Think of an estimate as a preview of an invoice that hasn't entered your books yet. Creating an estimate: * Does **not** record income * Does **not** create Accounts Receivable * Does **not** appear in reports * Cannot accept payments > Because an estimate is not a bill, payments must be recorded on an invoice or sales receipt instead. It includes: * Client and optional project information * Detailed line items with descriptions, quantities, and rates * Taxes, discounts, and totals * Notes, terms, and expiration details *** ** * ** *** ## Real-World Examples ### Hourly or Ongoing Work A marketing consultant estimates 25 hours of work at $95 per hour for a website audit. The client approves the estimate before work begins. After completing the project, the consultant invoices only for the 22 hours actually worked. **Why this works:** The estimate sets expectations for cost while allowing flexibility to bill accurately for actual time spent. #### Fixed Price Project A house painter visits a client to assess a job and provides a written estimate for $3,200. The estimate helps the client understand the scope and approve the price before work begins. After completing the job, the painter converts the estimate into an invoice to request payment. **Why this works:** The estimate documents agreed pricing before any work starts. #### Tiered Service Packages A designer creates three standard estimate templates (Basic, Professional, Premium). When a potential client inquires, she customizes one and sends it within minutes. Most clients select a package and approve it, allowing her to quickly convert the estimate into an invoice when the project is complete. **Why this works:** Estimates make quoting fast and professional while keeping pricing consistent. #### Multi-Phase Project An IT consultant breaks a large project into phases within an estimate. The client approves phases 1--3 but postpones the rest. The consultant converts only the approved phases into an invoice and keeps the remaining phases in the estimate for future work. **Why this works:** Estimates allow flexible billing for complex or phased projects. *** ** * ** *** ## Creating and Managing Estimates ### Creating an Estimate 1. In the left navigation, select **Sales \& Billing** → **Estimates**. 2. Click **+ Estimate**. 3. Select the **Business** , **Client** , and optional **Project**. 4. Enter the **Issue Date** and **Estimate #**. 5. Add items, quantities, pricing, taxes, and discounts. 6. Use **Preview** to review. 7. Select **Send to...** or **Mark as Sent (No Email)**. *** ** * ** *** #### Revising an Estimate 1. In the left navigation, select **Sales \& Billing** → **Estimates**. 2. Locate the estimate and open the **three-dot menu**. 3. Select **View Estimate** , then **Edit**. 4. Make changes and **Save**. 5. Re-send the estimate if needed. 6. Update the status if the client needs to re-accept it. *** ** * ** *** #### Duplicating an Estimate 1. In the left navigation, select **Sales \& Billing** → **Estimates**. 2. Locate the estimate and open the **three-dot menu**. 3. Select **Duplicate Estimate**. 4. Edit as needed and **Save**. Useful for recurring or similar jobs. *** ** * ** *** #### Deleting an Estimate 1. In the left navigation, select **Sales \& Billing** → **Estimates**. 2. Locate the estimate and open the **three-dot menu**. 3. Select **Delete Estimate** and confirm. Deleting an estimate does not affect reports or transactions. *** ** * ** *** ## Converting an Estimate to an Invoice When a client approves your estimate, you can convert it directly into an invoice. Client acceptance is not required, but it provides helpful documentation that pricing was approved. 1. In the left navigation, select **Sales \& Billing** → **Estimates**. 2. Locate the estimate and open the **three-dot menu**. 3. Select **Generate Invoice**. 4. Confirm the issue date, due date, and invoice number. 5. Review, preview, and send the invoice. When you convert an estimate: * All items, pricing, and details transfer to the invoice * The original estimate remains in your records for reference * The invoice becomes part of your financial records ### Partial Conversion You can convert **some or all** line items from an estimate into an invoice. This is helpful for phased projects, partial approvals, or progress billing. *** ** * ** *** ## Best Practices for Strong Estimates * Be specific in descriptions * Break large totals into clear components * Include timelines and exclusions * Set expiration dates * Use consistent rate structures *** ** * ** *** ## Common Challenges * **Scope creep**: Update the estimate instead of absorbing extra work * **Comparison shopping**: Demonstrate value through clarity, not discounts * **Verbal approvals**: Always document acceptance * **Old pending estimates**: Follow up or close them to keep records clean *** ** * ** *** ## Related Topics * [Estimates, Invoices, and Sales Receipts: What's the Difference?](https://info.quicken.com/sim/estimates-invoices-and-sales-receipts-whats-the-di.md) * [Sales \& Billing Dashboard: Invoices, Estimates, Receipts](https://info.quicken.com/sim/sales-billing-dashboard-invoices-estimates-receipt.md) * [Creating and Managing Invoices](https://info.quicken.com/sim/creating-and-managing-invoices.md) * [Applying \& Recording Payments](https://info.quicken.com/sim/applying-payments-to-invoices.md) * [Accounts Receivable](https://info.quicken.com/sim/accounts-receivable.md) --- language: "en" --- # Creating and Managing Invoices ***Available in Quicken Business \& Personal*** ## Overview Invoicing is the foundation of getting paid. Invoices help you track earned income, manage what clients owe you, and keep your **Accounts Receivable** up to date. Invoices aren't just bills --- they're an essential part of your financial workflow. Creating and sending an invoice officially records income you've earned, even if you haven't been paid yet. Keeping your invoice records accurate ensures you know: * What's been paid * What's still outstanding * What needs follow-up or correction *** ** * ** *** ## 🔍 What's your Situation? Here are some common invoice-related situations and the actions you can take for each: **1️⃣ You've completed work for a client and need to send an invoice** → *Use: Create and send a new invoice* **2️⃣ You need to update an existing invoice due to a change or correction** → *Use: Edit or update the invoice* **3️⃣ You want to check which invoices are unpaid or overdue** → *Use: Review open and past-due invoices* **4️⃣ You made a mistake or created a duplicate invoice** → *Use: Delete the invoice* ### 📌 Before you begin Before you can create an invoice, make sure your **business information** and **client details** are set up in Quicken Business \& Personal. Once that's done, you'll be ready to create and send invoices in just a few clicks. *** ** * ** *** ## 🛠 How Each Method Works ### Create and Send an Invoice **When to use it:** You've provided a product or service and want to request payment. **To create and send an invoice:** 1. Hover over the left panel and select **Sales \& Billing \> Invoices.** 2. Click **+ Invoice** . 3. Select the **Client \& Project** dropdown and choose a project under the correct client. 4. Enter the **Invoice #** , **Issue Date** , and **Due Date.** 5. Click **+ Add Item** and select an item from the dropdown or choose **New Item** to create one. * Use the **trash can** icon to remove items. * Reorder items by dragging the **dots** to the left of each line. 6. If an item is taxable, check the **Taxable** box. Select or enter the appropriate tax rate in the **Tax** dropdown (only one rate per invoice is allowed). 7. Apply a **discount** if necessary (by dollar or percentage). 8. Click the **Preview** tab to review the final invoice. 9. Click **Send to...** and confirm the **email address** , **subject** , and **message.** * To skip email and just save/print, choose **Mark as Sent (No Email).** 10. Click **Send** to deliver the invoice. ### Edit or Update an Invoice **When to use it:** You need to correct or update an invoice that was already created. 📝 *Note: If the invoice has already been sent, you'll need to resend it after editing.* **To edit or update an invoice:** 1. Hover over the left panel and select **Sales \& Billing \> Invoices.** 2. Click the **Drafts** tab if the invoice hasn't been sent. 3. Find the invoice and click the **three-dot** icon to the right. 4. Select **View Invoice.** 5. If the invoice was sent, click **Edit** at the top, make changes. 6. Click **Save** or **Send to...** to send the updated invoice. ### Review Past Due Invoices **When to use it:** You want to see which invoices are overdue or unpaid so you can follow up. **To review past due invoices:** 1. Hover over the left panel and select **Sales \& Billing \> Invoices.** 2. Click **Unpaid** to view all past-due invoices. 3. Follow up with clients directly or resend the invoice. ### Deleting an Invoice **When to use it:** You need to remove an invoice that was created by mistake or duplicated. **To delete an invoice:** 1. Hover over the left panel and select **Sales \& Billing \> Invoices.** 2. Locate the invoice and click the **three-dot** icon. 3. Click **Delete Invoice.** 4. Confirm deletion in the pop-up by selecting **Delete Invoice.** *** ** * ** *** ## 📌 Best Practices * Invoice promptly after delivering work * Always record payments against invoices to keep **Accounts Receivable** accurate (shown in the **Client Invoices**account) * Review open invoices regularly to follow up and improve cash flow * Before writing off unpaid invoices as bad debt, check with your accountant --- language: "en" --- # Creating Credit Memos Credit memos allow you to reduce a client's balance due when services change, billing errors occur, or refunds are needed. They function like "negative invoices," and can be applied to future invoices or refunded. *** ** * ** *** ## **What Is a Credit Memo?** A **credit memo** is a formal accounting document that reduces what a client owes. Unlike automatic credits from overpayments, credit memos are created manually to adjust account balances for specific reasons, such as: * Cancelled services * Returned products * Billing errors * Scope reductions * Goodwill or service recovery Credit memos can be issued at the **client level** (general credit) or **project level** (specific to a project). They provide professional, auditable adjustments for accurate books and clear client communication. *** ** * ** *** ## **When to Use a Credit Memo** | Situation | Example | What to Do | |----------------------|----------------------------------|----------------------------------| | **Scope Change** | Client reduces project size | Issue credit for unused portion | | **Service Recovery** | Service didn't meet expectations | Issue partial credit as goodwill | | **Cancellation** | Client cancels mid-contract | Credit the unused portion | | **Returns** | Client returns materials | Credit for returned items | | **Billing Error** | Overcharged or billed early | Credit the overbilled amount | *** ** * ** *** ## **Types of Credit Memos** | Type | When to Use | Notes | |-------------------|-------------------------------------|--------------------------------------| | **Client-Level** | For general account adjustments | Can be applied to any invoice | | **Project-Level** | For adjustments tied to one project | Can only be used within that project | ⚠️ *Client-level credits cannot be used within projects, and vice versa.* *** ** * ** *** ## **How to Create a Credit Memo** ### **Client-Level Credit Memo** 1. **Access the Client** * Go to **Clients \& Projects** * Select the desired client * Open the **Sales History** tab → Click **Credits** * Click **+ Credit Memo** 2. **Add Credit Details** * Select or create the credited item/service * Enter a description * Set quantity and rate (credit amount per item) 3. **Set Tax (If Applicable)** * Check **Taxable** if applicable * Select the tax rate from the dropdown 4. **Send or Save** * Click **Send to...** in the top right * Choose **Send** to email or **Mark as Sent** to skip email 5. **Confirm** * Credit will appear under **Credits** * The **Client Credit** tile will update with the available credit amount *** ** * ** *** ### **Project-Level Credit Memo** 1. **Navigate to the Project** * Go to **Clients \& Projects** * Select the client, then the project * Go to **Sales History** → **Credits** * Click **+ Credit Memo** 2. **Configure for the Project** * Ensure the correct project is selected * Follow the same steps for adding items, tax, and sending *** ** * ** *** ## **Best Practices** * **Be clear**: Use descriptive reasons for each credit memo * **Act promptly**: Issue credits as soon as a change or correction is needed * **Keep clients informed**: Send credits to clients to ensure transparency * **Stay consistent**: Use standard item names/categories for reporting * **Review regularly**: Monitor open credits to apply or refund them as needed *** ** * ** *** ## **Important Considerations** * **Credit Level Restrictions**: Client-level ≠ project-level. Create credits in the correct context. * **Tax Settings**: Only check "Taxable" if the refund or credit is subject to tax. * **Audit Trail**: Credit memos become part of your official financial records. * **Client Clarity**: Always explain to the client what the credit is for and how it can be used. --- language: "en" --- # Creating, Editing, and Deleting Category & Tag Rules ## **Overview** **Category and Tag Rules** in *Quicken Business \& Personal* automatically assign downloaded transactions to the correct **expense, income, or transfer categories** , and can also **apply tags** for deeper tracking and analysis. While **Payee Rules** identify *who* the transaction is with, **Category and Tag Rules** define *what kind* of transaction it is --- such as office supplies, client payments, or subscriptions --- and optionally *what it relates to*, such as a client, project, or campaign. These rules are especially useful for business owners, freelancers, and anyone who wants their finances organized consistently and automatically. Use Category and Tag Rules to: * Ensure **tax-deductible expenses** are categorized correctly every time * **Tag transactions** by client, project, or department for detailed reporting * **Automate bookkeeping** for recurring charges (software, utilities, or subscriptions) * Maintain **clean financial reports** for year-end accounting, tax prep, or profitability tracking You'll want to create Category and Tag Rules if you: * Regularly recategorize the same types of transactions * Track both **business and personal** spending in the same account * Need to prepare detailed reports for **Schedule C or tax filing** * Want faster, more accurate **monthly reporting** with less manual work *** ** * ** *** ## **When to Use Category and Tag Rules** Category and Tag Rules help automate repetitive organization tasks, saving you time and improving accuracy. Here are some common examples: * **Recurring Expenses or Income:** Automatically categorize PG\&E as "Utilities" or Stripe deposits as "Business Income." * **Mixed-Use Merchants:** Separate business and personal purchases at the same store (e.g., Amazon Business vs. Amazon Gifts). * **Client or Project Tracking:** Apply tags like "Client A" or "Spring Campaign" to specific transactions for easier reporting. * **Subscriptions and SaaS Tools:** Automatically classify Zoom, Adobe, or AWS charges as "Software" and tag them by team or department. 💬 **Tip:** Start with your most frequent or recurring transactions. Rules work best when applied to consistent patterns. *** ** * ** *** ## **🛠 How to Create or Edit a Category and Tag Rule** You can create these rules directly from **Settings** or from an **individual transaction**. ### **Option 1: From Settings** Use this method when you want to build or review rules across multiple transactions. 1. Go to **Settings** in the left-hand navigation panel. 2. Select **Rules**. 3. Click **+ Rule**. 4. Choose whether to use the **original bank name** or **renamed Quicken name** for matching. 5. Enter one or more **keywords** Quicken should look for in downloaded transactions. *(Tip: Use partial names like "zoom" or "stripe" to catch more variations.)* 6. Check **Update Category**, then select the correct category. 7. *(Optional)* Check **Add Tags**, and choose one or more tags to automatically apply. 8. Click **Continue to Review**. 9. Choose whether to apply the rule to **existing transactions** , then click **Create Rule**. *** ** * ** *** #### **Option 2: From an Individual Transaction** Use this method when you're fixing a specific transaction and want Quicken to remember your choice. 1. Locate the transaction and open the **Category** dropdown. 2. Select the correct category and check **Create a rule to use this category for future transactions**. 3. When the **Create Rule** window opens, confirm or add: * The **matching source** (original or renamed name) * Any **keywords** Quicken should look for * *(Optional)* **Tags** to apply automatically for similar future transactions 4. Click **Continue to Review**, then decide whether to apply the rule to existing transactions. 5. Click **Create Rule** to save. *** ** * ** *** ## **🔍 Real-Life Examples** | **Scenario** | **Use This Rule** | |-------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------| | You always buy office supplies at Staples, but your transactions download as "Uncategorized." | **Category:** Office Expenses | | You get monthly charges from Zoom that should always be Software. | **Category:** Software · **Tag:** Operations | | You want client payments processed through Stripe for a specific client, say *Client A*, to always post as Business Income from Client A. | **Category:** Business Income · **Tag:** Client A | | You use Amazon for both personal and business purchases. | Two rules using keywords like "supplies" (Category: Office Expenses) vs. "gifts" (Category: Shopping). | *** ** * ** *** ## **📌 Best Practices for Category and Tag Rules** * Be **specific** with keywords (for example, "AWS" instead of just "Amazon"). * Use **tags** to track projects, clients, or campaigns without cluttering your category list. * Avoid using **amount alone** unless it's for fixed monthly payments. * **Review rules quarterly** to ensure they still fit your current spending patterns. * Combine **description-based keywords** and **tags** for merchants used across multiple purposes. * Keep each rule **simple and focused** --- one clear purpose per rule improves reliability. *** ** * ** *** ## **Managing and Deleting Rules** * Go to **Settings › Rules**. * Find the Category or Tag Rule you want to update. * Click **Edit** , **Disable** , or **Delete** as needed. * Reorder rules when conflicts arise --- **specific rules should appear above general ones.** *** ** * ** *** ## **💡 Why It Matters** Category and Tag Rules ensure your financial data stays clean, consistent, and audit-ready --- automatically. By combining **categories** for what a transaction is with **tags** for who or what it relates to, you'll save hours of manual cleanup and gain richer insights into your business or personal finances. --- language: "en" --- # Creating, Editing, and Deleting Payee Rules ## Overview Payee Rules help you clean up messy or inconsistent payee names that are downloaded from your bank. Banks often use confusing or varied names for the same merchant --- like `"WAL-MART #1234"`, `"WALMART SUPERCTR"`, or `"WM SUPERCENTER"`. This can make it hard to track your spending and run accurate reports. **Payee Rules solve this problem** by automatically renaming transactions using keyword matching. When a downloaded transaction matches one of your rule's keywords (such as "wal" and "mart"), Quicken renames it to your preferred, standardized payee --- like `"Walmart"`. You'll want to create Payee Rules when: * You're cleaning up long or inconsistent payee names * You want reports grouped under consistent vendor names * You use multiple versions of the same merchant for business and personal expenses * You want to reduce manual cleanup after downloading transactions *** ** * ** *** ## What's Your Situation? **Scenario 1️⃣** : You see five different versions of "Walmart" in your spending report → Use a **Payee Rule** to rename all of them to "Walmart" **Scenario 2️⃣** : You run a business and want "Amazon Web Services" labeled differently from "Amazon.com." → Create **separate rules** using keyword filters for AWS vs. Amazon.com. **Scenario 3️⃣** : You want all gas station transactions renamed to your preferred vendor name → Use keywords like "Chevron", "Shell", and "76" to map to standard payee names **Scenario 4️⃣** : You want to auto-categorize and rename client deposits by name → Create a **combined Payee + Category Rule** (see also: Category Rules) *** ** * ** *** ## Creating a Payee Rule ### **Option 1: From the Settings Menu** Use this method when setting up rules proactively. 1. Select **Settings** from the left-hand navigation panel and select **Rules**. 2. Click **+ Rule** 3. Select Payee and choose to reference either the **original statement name** or **Quicken name.** 4. Add **keyword(s)** that Quicken should look for (e.g., "wal", "mart", "superctr") 5. Check the box to **Rename Payee**, and enter your preferred payee name 6. Click **Continue to Review** 7. Choose whether to apply the rule to **existing transactions** 8. Click **Create Rule** *** ** * ** *** ### **Option 2: From an Existing Transaction** Use this method when you're editing a specific transaction. **Steps**: 1. Locate the transaction and click in the **Payee field** 2. Enter the new Payee Name 3. Check the box for **"Create a rule to rename this payee"** 4. A **Create Rule** window will open automatically 5. Choose statement name reference (original or simplified) 6. Add or confirm keywords 7. Enter your **preferred Payee name** 8. (Optional) Enter or confirm a **Category** 9. Click **Continue to Review** 10. Apply to existing transactions (optional), then **Create Rule** *** ** * ** *** ## ✏️ Editing or Deleting a Payee Rule ### **To Edit a Rule** : 1. Select **Settings** from the left-hand navigation panel and select **Rules**. 2. Find your rule in the list and click **Edit** 3. Update keywords, payee name, or other fields 4. Click **Save** ### **To Delete a Rule** : 1. Select **Settings** from the left-hand navigation panel and select **Rules**. 2. Locate the rule and click the **trash icon** 3. Confirm the deletion *** ** * ** *** ## 📌 Best Practices for Payee Rules * **Use partial keywords**: "starbuck" catches more variations than "Starbucks Coffee" * **Avoid overly broad keywords**: A rule for "shop" might mislabel unrelated stores * **Test before scaling**: Try rules with a few transactions first * **Keep payee names clean**: Use short, business-appropriate names for reports * **Update as vendors change**: Rebranding or new store names may require new rules --- language: "en" --- # Creating Good Transaction Rules ## Overview A good Transaction Rule does more than save you a few clicks --- it consistently identifies the right transactions and applies the right changes, without creating cleanup later. The goal isn't to automate everything; it's to automate the transactions you can identify reliably. This can save you time, keep your transactions organized consistently, make your reports more accurate, and help keep you tax ready. *** ** * ** *** ## When to Create a Transaction Rule Consider creating a rule when you repeatedly make the same change to similar downloaded transactions. Good candidates include: * A merchant that repeatedly downloads with the wrong category * A subscription or bill you consistently categorize the same way * A paycheck or other recurring deposit that needs the same income category * A regular business expense that should always use the same business category * Income from a regular client that you categorize and tag the same way * Recurring rental income or property expenses * A payee that repeatedly downloads with an unclear or inconsistent name * Transactions that consistently need the same tag Note: A one-time purchase or unusual transaction usually doesn't need a rule. Creating rules only for repeatable patterns keeps your rule list easier to understand and maintain. *** ** * ** *** ## Examples of Transactions to Automate If you're not sure where to start, look for merchants, deposits, and recurring transactions that you see often and usually handle the same way. ### Everyday Spending Common examples include: * **Netflix, Hulu, Spotify** → Entertainment * **Chevron, Shell** → Fuel * **PG\&E or other utilities** → Utilities * **Gym memberships** → Fitness or Health * **Recurring insurance payments** → Insurance These are often good candidates because the merchant and purpose are predictable. #### Business Expenses If you run a business, look for recurring expenses such as: * **Adobe, Microsoft, Dropbox** → Software * **Phone or internet provider** → Phone or Internet * **Office Depot or Staples** → Office Supplies * **Regular advertising services** → Advertising * **Recurring vendors or contractors** → Appropriate business expense category Rules can help keep these expenses consistently categorized as they download, reducing cleanup when you need a Profit \& Loss report, review expenses, or prepare for taxes. #### Income Rules can also organize money coming in. For example: * **Regular paycheck** → Salary Income * **Recurring contract client payment** → Business Income + Client tag * **Regular pension or other recurring income deposit** → Appropriate income category * **Tenant payment** → Rental Income + Property tag * **Airbnb or other rental payout** → Rental Income + Property tag This can be especially useful when you want income reports to stay organized without manually categorizing each deposit. *** ** * ** *** ## Be Careful With Mixed-Use Merchants Some merchants may look like obvious candidates for a rule but require more thought. Purchases from these merchants often include items that belong in different categories. For example: * Amazon * Target * Costco * Walmart * Home Depot You may buy several different types of things from the same merchant, and even a single purchase may need to be split across categories. A broad rule such as **Amazon → Office Supplies** could incorrectly categorize personal purchases or other business expenses. For mixed-use merchants, create a rule only when another condition --- such as the account, amount, or downloaded transaction details --- reliably identifies the transactions you want to automate. For example, if purchases from Amazon on a specific business credit card are consistently for office supplies, you could create a rule that categorizes **Amazon transactions from that account** as Office Supplies. > **Where to start:** Scan your recent transactions and look for merchants, payments, or deposits you recognize immediately and tend to categorize the same way every time. Those are often your best first Rules. *** ** * ** *** ## What Makes a Good Rule? An effective rule is **specific enough to recognize the transactions you want, but not so broad that it changes unrelated transactions**. Think of a rule as two questions: **What information reliably identifies this transaction?** and **What should Quicken do when it finds it?** For example: **If:** Payee contains "Netflix" **Then:** Categorize as Entertainment. This works well because Netflix is a predictable merchant and the transaction usually serves the same purpose. A rule for a merchant such as Amazon may require more thought because purchases from the same merchant can belong to many different categories. *** ** * ** *** ## Choose Criteria That Reliably Identify the Transaction Quicken can identify matching transactions using details such as the payee or statement name, account, and amount. You can use one condition or combine multiple conditions when you need more precision. ### One Condition May Be Enough For a merchant that always serves the same purpose, a simple rule may work well. **Example:** Payee contains "Netflix" → Entertainment #### Add Conditions When You Need More Precision Sometimes one detail isn't enough to identify the transaction reliably. For example: **Payee:** Adobe **Amount:** $59.99 → Software Combining conditions can help distinguish a predictable subscription from other transactions involving the same merchant. An account condition can also be useful when similar transactions occur in different accounts but need to be handled differently. > **Why this matters:** A rule that's too broad can save time initially but create more work if you later have to correct transactions it categorized incorrectly. *** ** * ** *** ## Start With Frequent and Predictable Transactions You don't need to automate everything at once. Start with transactions that are both **frequent and predictable**, such as: * Monthly subscriptions * Utilities and recurring bills * Regular paychecks or deposits * Software subscriptions * Recurring vendor payments * Regular client payments * Rent or recurring rental property expenses These transactions provide the greatest time savings with the lowest chance of an incorrect match. As you become comfortable with how Rules work, you can add more where they genuinely reduce repetitive work. *** ** * ** *** ## Use Categories and Tags for Different Purposes A Category describes **what the money was spent on or received for**. A Tag provides another way to identify **who or what the transaction relates to**, such as a client, project, campaign, or rental property. For example: **Category:** Marketing **Tag:** Spring Campaign or **Category:** Business Income **Tag:** Client A Using both can give you more useful reporting without creating overly specific categories. > **Why this matters:** Consistent categories help make spending, income, and Profit \& Loss reports more accurate. Consistent tags let you analyze those same transactions in other ways, such as by client, project, or property. *** ** * ** *** ## Test and Refine Your Rules A rule doesn't have to be perfect the first time. After creating one, review the transactions it matches and ask: * Is it matching the transactions I expected? * Is it missing transactions that should qualify? * Is it changing transactions I didn't intend? * Could adding or changing a condition make the rule more precise? Fine-tuning a rule early can prevent repeated corrections later. *** ** * ** *** ## Review Your Rules as Your Finances Change Rules that worked well a year ago may no longer fit your finances. Periodically review your Rules when: * A subscription price changes * You change banks or accounts * A merchant changes its downloaded transaction name * You stop using a vendor or service * You add a new client, project, or rental property * Your categories or tags change Delete or update rules you no longer need, and reorder rules when new ones overlap with existing rules. *** ** * ** *** ## Common Rule Mistakes ### Avoid: * **Rules that are too broad** --- they may change unrelated transactions. * **Using amount alone when the amount varies** --- price changes can prevent the rule from matching. * **Creating rules for one-time transactions** --- they add complexity without much benefit. * **Automating mixed-use merchants without enough information** --- the rule may not know whether a purchase belongs in the category you selected. * **Ignoring rule order** --- broader rules can interfere with more specific ones. * **Creating too many rules at once** --- start with reliable patterns and add rules as you find repeated work worth automating. * **Never reviewing your rules** --- transactions and financial habits change over time. *** ** * ** *** ## The Goal: Less Cleanup, Better Financial Information Well-designed rules do more than organize your transaction register. When recurring transactions are categorized and tagged correctly as they download, you spend less time cleaning up uncategorized or miscategorized transactions later. Your spending totals, budgets, income reports, and business reports are also based on more consistent data. The best rules quietly handle predictable work in the background while leaving transactions that require judgment for you to review. *** ** * ** *** ## Related Topics * [Reviewing Transactions](https://info.quicken.com/sim/reviewing-transactions.md) * [Understanding Transaction Rules](https://info.quicken.com/sim/using-transaction-rules-to-automate-your-banking.md) * [Splitting a Transaction Across Categories](https://info.quicken.com/sim/splitting-a-transaction-across-categories.md) * [Using Categories \& Tags](https://info.quicken.com/sim/using-categories.md) * [Managing Categories](https://info.quicken.com/sim/managing-categories.md) * [Creating, Editing, and Deleting Payee Rules](https://info.quicken.com/sim/creating-editing-and-deleting-payee-rules.md) * [Creating Good Transaction Rules](https://info.quicken.com/sim/creating-good-transaction-rules.md) --- language: "en" --- # Customizing Your Dashboard ## Overview You can customize your Dashboard so the financial information most important to you is easier to find. Customization can include: * Showing or hiding available tiles * Rearranging tiles * Reordering account groups and accounts * Organizing the page around personal, business, or combined financial priorities Note: The tiles available to you may vary based on your subscription, connected accounts, and the features you have set up. *** ** * ** *** ## Keep the Most Important Information Within Reach Your Dashboard is most useful when it highlights the information that affects your next financial decision. For example: * Someone with predictable household income may prioritize spending, bills, and savings. * A freelancer may care more about invoices, variable income, recurring expenses, and estimated taxes. * A business owner may want profit and loss, customer payments, and products and services near the top. * An investor may want holdings, investments, and net worth to be more visible. * Someone working toward a financial goal may prioritize Savings Goals, Spending Plan, or Credit Score. ### Customizing your Dashboard can help you: * Find frequently used information more quickly * Reduce distractions from tiles you rarely use * Keep upcoming obligations visible * Balance personal and business priorities * Adjust the Dashboard as your financial goals change Showing every available tile does not necessarily make the Dashboard more useful. A focused selection may be easier to review consistently. *** ** * ** *** ## Customize When the Default View No Longer Fits You may benefit from customizing the Dashboard when: * You regularly scroll to find the same information * Some tiles are not relevant to your finances * Important information appears too far down the page * You manage both personal and business finances * You want to prioritize taxes, invoices, spending, savings, or investments * Your financial responsibilities change during the year You may not need to customize the Dashboard immediately if you are new to Quicken. Use the default layout for a while and notice which areas you return to most often. Then adjust the Dashboard around those priorities. *** ** * ** *** ## Start with the Questions You Want to Answer Before changing the layout, identify what you want the Dashboard to help you understand. For example: * What needs my attention today? * Do I have enough available for upcoming expenses? * Are customers paying me on time? ***(Quicken Business \& Personal)*** * Is my business earning more than it is spending? ***(Quicken Business \& Personal)*** * Am I prepared for my next estimated tax payment? ***(Quicken Business \& Personal)*** * Are any new recurring expenses appearing? * Am I making progress toward a savings or investment goal? Your answers can help you decide which tiles should appear near the top and which ones you may not need. *** ** * ** *** ## Choose Which Tiles Appear To open the customization options: 1. Open the **Dashboard**. 2. Select **Customize** in the upper-right corner. The **Customize Dashboard** panel shows the tiles currently available to you. Use the toggle beside a tile to show or hide it. A purple toggle indicates that the tile is shown on the Dashboard. Turn the toggle off when you do not want the tile to appear. Turning off a tile removes it from the Dashboard, but it does not delete the underlying financial information or feature. Close the **Customize Dashboard** panel when you are finished. *** ** * ** *** ## Change the Tile Order Place the information you use most often where it is easiest to see. In the **Customize Dashboard** panel, you can: * Drag a tile using the six-dot handle, or * Use the up and down arrows to move it Continue arranging tiles until the order reflects your priorities. *** ** * ** *** ## Return to the Original Layout You can return the Dashboard to its original arrangement if your customized layout is no longer useful. To reset the layout: 1. Open **Profile**. 2. Select **Reset Dashboard Layout**. 3. Confirm the change, if prompted. Resetting the layout changes how the Dashboard is arranged. It does not remove financial information or disconnect accounts. *** ** * ** *** ## Make Important Accounts Easier to Find The account list gives you quick access to connected accounts and account groups. Rearranging it can help you: * Keep frequently used accounts near the top * Place primary checking or credit accounts where they are easier to find * Organize accounts in a way that reflects how you manage your finances To customize the account list: 1. Select the three-dot menu beside **+ New** or **+ Account**. 2. Select **Customize Account List**. 3. Drag account groups or accounts into the order you prefer. 4. Select **Update**. *** ** * ** *** ## Layout Ideas for Different Financial Priorities These are starting points rather than universal recommendations. The most useful arrangement depends on the questions you need your Dashboard to answer. ### Managing Everyday Personal Finances Consider prioritizing: * Recent Transactions * Review Transactions * Bills \& Income * Spending Plan * Spending Report * Top Spending Categories * Savings Goals * Net Worth This combination keeps current activity and upcoming obligations visible while also showing broader spending and savings progress. ### Running a Business or Freelance Practice Consider prioritizing: * Business Profit \& Loss * Invoices Overview * Review Transactions * Tax Planner * Income Report * Top Products \& Services * Potential Recurring * Recent Trips This combination emphasizes business performance, customer payments, transaction accuracy, recurring expenses, mileage, and estimated taxes. ### Tracking Investments and Long-Term Progress Consider prioritizing: * Net Worth * Holdings * Investments * Savings Goals * Credit Score * Achievements This combination brings longer-term financial progress and investment information closer to the top. ### Managing Personal and Business Finances Together Consider choosing a mix that helps you answer: * What needs attention now? * What money is coming in or going out? * How is the business performing? * What obligations are approaching? * How are my overall finances progressing? For example: * Review Transactions * Bills \& Income * Business Profit \& Loss * Invoices Overview * Tax Planner * Spending Plan * Net Worth * Investments You can also arrange the account list so business and personal account groups remain visually distinct. *** ** * ** *** ### Examples - Dashboards Supporting Different Goals #### Focusing on Spending Jamie is working to reduce discretionary spending. Jamie prioritizes Spending Plan, Spending Report, Top Spending Categories, and Watchlist. This makes it easier to see both the monthly plan and the spending patterns affecting it. #### Monitoring Recurring Expenses Taylor wants to reduce unnecessary subscriptions. Taylor moves Potential Recurring and Bills \& Income higher on the Dashboard. This makes repeating transactions easier to notice and review. #### Managing Personal and Business Activity Samantha uses Quicken Business \& Personal. Samantha keeps business accounts separate from personal accounts and places Review Transactions near the top. This makes it easier to ensure business and personal expenses are categorized correctly. #### Preparing for Quarterly Taxes Morgan runs a consulting business. During most of the quarter, Morgan keeps Business Profit \& Loss and Invoices Overview near the top. As the estimated tax deadline approaches, Morgan moves Tax Planner higher so the upcoming obligation stays visible. *** ** * ** *** ## Adjust the Layout as Your Priorities Change Your ideal Dashboard may change throughout the year. For example: * Move Tax Planner higher before estimated tax payments. * Prioritize Invoices Overview when customer payments are outstanding. * Move Spending Plan higher when reducing monthly expenses. * Prioritize Savings Goals when preparing for a major purchase. * Move Holdings or Investments higher during an investment review. * Add Potential Recurring when evaluating subscriptions. * Hide tiles that no longer apply. The best Dashboard layout is one that helps you quickly understand what needs attention and move to the appropriate next step. *** ** * ** *** ## Related Topics * [Getting to Know Your Dashboard](https://info.quicken.com/sim/getting-to-know-your-dashboard.md) * [Quick Start Guide](https://info.quicken.com/sim/getting-started-with-quicken-simplifi-setup-guide.md) --- language: "en" --- # Customizing Your Transaction Columns ## Overview The **Columns** menu lets you control which information appears in your transaction list. By showing or hiding specific columns---such as Tags, Status, Check #, Client/Project, or Invoice---you can tailor your view to match the task you're working on. Customizing columns does not change your data. It only changes how your transactions are displayed. Your column selections: * Persist across sessions * Apply to all accounts (combined view and individual accounts) * Remain in place until you change them *** ** * ** *** ## To Customize Your Column View: 1. Select **Transactions** from the left navigation. 2. Click the **gear icon** in the upper right corner of the Transaction Activity section. 3. The **Columns** menu opens with available column options. Changes apply immediately---no save button required. *** ** * ** *** ## Why Customizing Columns Helps Your transaction list can contain a large amount of information. Customizing columns helps you: ### Focus on what matters for the task Different tasks require different information. * Tax prep requires Category, Tags, and Usage (QBP). * Reconciliation requires Check # and Status. * Invoice follow-up requires Invoice and Unpaid (QBP). Showing only relevant columns makes it easier to scan and identify issues quickly. *** ** * ** *** #### Reduce visual clutter Although many columns are available, most tasks only require a handful. Hiding unnecessary columns: * Reduces horizontal scrolling * Improves readability * Speeds up review sessions *** ** * ** *** #### Match your workflow Different users prioritize different information: * Freelancers often keep Client/Project and Usage visible (Quicken Business \& Personal) * Contractors rely on Check #. (Quicken Business \& Personal) * Service businesses focus on Invoice and Status. (Quicken Business \& Personal) * Personal finance users prioritize Category, Tags, and Status. Your view can adapt to how you work. *** ** * ** *** ## Available Columns The Columns menu includes: * **Account** -- Source account * **Attachments** -- Indicates receipts or documents * **Bank Payee** -- Merchant name from your bank * **Check #** -- Check number for check transactions * **Checkbox selection** -- Enables bulk actions * **Client/Project** -- Assigned client and project *(Quicken Business \& Personal only)* * **Exclusion** -- Whether excluded from reports * **Flag** -- Color marker for follow-up * **Invoice** -- Linked invoice number *(Quicken Business \& Personal only)* * **Notes** -- Comments added to the transaction * **Recurring** -- Indicates recurring transactions * **Reviewed** -- Whether you've confirmed the transaction * **Split** -- Indicates split categorization * **Status** -- Pending, Cleared, or Reconciled * **Tags** -- Custom labels * **Unpaid** -- Invoice payment status *(Quicken Business \& Personal only)* * **Usage** -- Billable, non-billable, or personal *(Quicken Business \& Personal only)* Business-only columns appear in Quicken Business \& Personal and do not appear in Simplifi. *** ** * ** *** ## When to Customize Columns ### During tax preparation Show: * Date * Payee * Category * Tags * Usage (Quicken Business \& Personal) Hide: * Check # * Attachments * Bank Payee This makes it easier to scan and verify deductible expenses. *** ** * ** *** #### When reconciling accounts Show: * Check # * Status * Bank Payee This helps match transactions against your bank statement. *** ** * ** *** #### For invoice follow-up (Quicken Business \& Personal) Show: * Invoice * Client/Project * Status * Unpaid Quickly identify outstanding payments and follow up efficiently. *** ** * ** *** #### During daily reviews Use a minimal view: * Date * Payee * Category * Status Add additional columns only when you need more detail. *** ** * ** *** ## Examples ### Travel Expense Tracking Jordan recently returned from a two-week trip and wants to review all travel-related spending. He customizes his transaction view to display: * Date * Payee * Category * Tags * Notes He filters by the tag "Italy Trip" and hides columns like Check # and Reviewed that aren't relevant to this task. This focused view helps him quickly see total trip spending, identify larger expenses like flights and hotels, and compare actual spending to what he expected. Once he finishes reviewing the trip, he restores his usual daily view. ### Business Tax Season Workflow Marcus runs a freelance design business. During tax season, he customizes his transaction view to display: * Date * Payee * Client/Project * Category * Tags * Usage He hides Check # and Attachments since they aren't relevant to categorization. This streamlined view helps him quickly review hundreds of transactions and confirm that business expenses are correctly assigned. When tax season ends, he adjusts his columns for regular monthly reviews. *** ** * ** *** ## Resetting to Default Columns To return to the standard column set: 1. Click the **gear icon**. 2. Select **Reset columns to defaults**. The view immediately returns to the default configuration. *** ** * ** *** ## Tips for Effective Column Management * Start minimal and add columns as needed. * Think in task-based "modes" --- tax prep mode, reconciliation mode, daily review mode. * Keep Client/Project visible if you track billable work (QBP). * Show Status during month-end to identify pending transactions. * Display Tags when filtering by tags to confirm assignments visually. *** ** * ** *** ## Related Topics * [Working With Transactions](https://info.quicken.com/sim/working-with-transactions.md) * [Using Categories \& Tags](https://info.quicken.com/sim/using-categories.md) --- language: "en" --- # Tracking Expenses Tracking your spending is one of the most powerful steps you can take toward financial confidence. Accurate spending tracking also ensures that: * **Reports reflect the real story** of your finances * **Budgets and spending plans** are based on facts, not guesses * **Cash flow insights** help you avoid unexpected shortfalls * **Net worth** calculations stay accurate over time * **Tax summaries** include everything you're entitled to (especially business deductions) * **Your financial health** --- personal or business --- becomes visible and measurable This section helps you **review, organize, and understand your transactions** so they accurately reflect what's happening with your money. You'll find guidance on: * Using **categories and tags** to organize spending * Separating **business and personal transactions** (when applicable) * Using **automation** to reduce manual work and stay consistent As you apply these tools, raw bank activity becomes clear, reliable information---helping you avoid surprises, spot patterns faster, and make confident financial decisions. Learn more: * [Managing Expense Receipts](https://info.quicken.com/sim/managing-expense-receipts.md) * [Mapping Categories to IRS Tax Schedules](https://info.quicken.com/sim/mapping-categories-to-irs-tax-schedules.md) * [Viewing and Editing Category Mappings for Tax Reports](https://info.quicken.com/sim/viewing-and-editing-category-mappings-for-tax-repo.md) * [Recording Shared Expenses \& Reimbursements](https://info.quicken.com/sim/recording-shared-expenses-reimbursements.md) * [Mileage Tracker](https://info.quicken.com/sim/mileage-tracker.md) --- language: "en" --- # Debt-to-Asset Ratio Your **debt-to-asset ratio** shows how much of what you own is financed by debt. It compares: * What you **owe** (loans, credit cards, mortgages) to * What you **own** (cash, investments, property, business assets) It answers a simple question: > How much of my financial life is built on borrowed money? *** ** * ** *** ## The Simple Formula Debt-to-Asset Ratio = **Total Liabilities ÷ Total Assets** If you own $500,000 in assets and owe $200,000: $200,000 ÷ $500,000 = **0.40 (40%)** That means: * 40% of what you own is financed with debt * 60% belongs to you outright (your equity) *** ** * ** *** ## Why Debt-to-Asset Ratio Matters This ratio helps you understand your overall financial stability. * A **lower ratio** means you rely less on debt. * A **higher ratio** means more of your assets are financed by borrowing. Lenders and financial institutions often look at this number to assess risk. For individuals and business owners, it's a helpful snapshot of long-term financial health. *** ** * ** *** ## How It's Different from Net Worth Net worth shows: Assets -- Liabilities = What you own outright. Debt-to-asset ratio shows: Liabilities ÷ Assets = How leveraged you are. Both use the same numbers --- but they tell different stories. *** ** * ** *** ## Where to Find It in Simplifi \& Quicken Business \& Personal You can see the information used to calculate this ratio in the **Net Worth view**. The Net Worth view shows: * Total Assets * Total Liabilities * Your overall financial position From those totals, you can quickly understand your debt-to-asset ratio. *** ** * ** *** ## What's a "Good" Ratio? There isn't one universal number, but generally: * Under 30% → Lower financial risk * 30--60% → Moderate leverage * Over 60% → Higher reliance on debt Context matters. A homeowner with a mortgage or a growing business may naturally have a higher ratio. The goal isn't zero debt --- it's sustainable, manageable debt. *** ** * ** *** ## Related Topics * [Tracking Business and Personal Asset Accounts](https://info.quicken.com/sim/tracking-business-and-personal-asset-accounts.md) * [Net Worth](https://info.quicken.com/sim/net-worth.md) --- language: "en" --- # Deposit ## Definition A deposit is money added to an account, such as a paycheck, customer payment, cash deposit, or transfer from another account. A deposit increases the balance of the account receiving the money, while a withdrawal decreases it. *** ** * ** *** ## Why It Matters Recording a deposit correctly helps you understand where your money came from and keeps your account balances and reports accurate. For example, a paycheck may be recorded as income, while money moved from savings to checking is a transfer --- not new income. Some deposits may also combine several payments into one **Bulk Deposit**, which requires additional tracking so your records match what the bank shows. *** ** * ** *** ## How This Works in Quicken Deposits appear as transactions in your account register. They may be downloaded automatically from your financial institution or entered manually. How you categorize or record the deposit depends on what the money represents, such as income, a customer payment, or a transfer between accounts. *** ** * ** *** ## Related Topics * [Income](https://info.quicken.com/sim/income.md) * [Transfers](https://info.quicken.com/sim/understanding-transfers.md) * [Bulk Deposit](https://info.quicken.com/sim/bulk-deposit.md) --- language: "en" --- # Displaying Split Transaction Details ## Overview A split transaction is a single purchase divided across two or more categories. If you ever divide one transaction between multiple spending types --- such as groceries and household supplies, or business and personal expenses --- you're using a split transaction. For example, a $363.74 Costco purchase might be split between: * Office Supplies --- $50.00 * Personal Checking --- $313.74 By default, split transactions appear as a single row in your transaction list. The Category column displays **--- Split ---**, and you must open the transaction to see how it is divided. The **Display \> Split Items** setting lets you choose whether split transactions appear as one row or as separate rows for each category directly in your transaction list. This is a display preference only. It does not change your data, totals, or reports. *** ** * ** *** ## The Two Display Options ### Default View (Display \> Split Items Off) Each split transaction appears as a single row. * The Category column shows **--- Split ---** * The full breakdown is hidden * You must open the transaction to see the individual split categories This view keeps your transaction list compact and easier to scan. *** ** * ** *** #### Expanded View (Display \> Split Items On) Each split transaction displays as multiple rows --- one for each category in the split. In this view: * The original parent row does **not** appear * Each split line shows its own category and amount * The split lines together equal the full transaction total You can see the full breakdown without opening the transaction. *** ** * ** *** ## When to Use Each View ### Use the Default View when: * You want a cleaner, more compact transaction list * You rarely work with split transactions * You're scanning recent activity quickly #### Use the Expanded View when: * You are reviewing business vs. personal allocations * You are verifying tax-related categories * You want to audit how transactions were split * You're filtering or sorting by category and want full visibility *** ** * ** *** ## How to Turn Split Display On or Off 1. Go to **Transactions** from the left navigation. 2. In the Transaction Activity section, click the **gear icon** at the right end of the column header row. 3. Scroll to the **Display** section. 4. Click **Show Split Items** to toggle it on or off. A checkmark indicates the setting is on. Changes take effect immediately. *** ** * ** *** ## Important Notes * This setting changes display only --- it does not affect totals. * Reports, balances, and calculations remain the same. * Column settings and display preferences apply across all accounts. * Your selection persists across sessions until you change it. *** ** * ** *** ## Examples ### Example 1: Personal Spending Split You make a $150 Target purchase that includes: * Groceries --- $90 * Household Supplies --- $40 * Pharmacy --- $20 With **Split Items off**, you see: Target \| --- Split --- \| $150 With **Split Items on**, you see: Target \| Groceries \| $90 Target \| Household Supplies \| $40 Target \| Pharmacy \| $20 This lets you confirm that each portion of the purchase is categorized correctly without opening the transaction. *** ** * ** *** #### Example 2: Business + Personal Split You split a $363.74 Costco purchase between: * Office Supplies --- $50.00 * Personal Checking --- $313.74 With **Split Items off**, you see: Costco \| --- Split --- \| $363.74 With **Split Items on**, you see: Costco \| Personal Checking \| $313.74 Costco \| Office Supplies \| $50.00 Both views represent the same transaction --- only the display changes. *** ** * ** *** ## Related Topics * [Working With Transactions](https://info.quicken.com/sim/working-with-transactions.md) * [Splitting a Transaction Across Categories](https://info.quicken.com/sim/splitting-a-transaction-across-categories.md) * [Managing Your Business Categories](https://info.quicken.com/sim/setting-up-business-categories.md) --- language: "en" --- # Editing Multiple Transactions ## Overview Bulk editing saves you time when you need to apply the same changes to multiple transactions. Bulk editing is a fast way to clean up imported transactions, organize expenses, or correct information across several transactions in just a few clicks. It's especially useful after downloading transactions from your bank or credit card, when you notice several transactions that all need the same update. *** ** * ** *** ## When Should You Use Bulk Editing? Use bulk editing whenever several transactions need the same change. Instead of repeating the same edit over and over, you make it once and apply it to every selected transaction. You can bulk edit properties such as: * Reviewed status * Payee name * Category * Tags * Notes * Follow-up flags * Exclusion status * Client and Project assignments (Business \& Personal) *** ** * ** *** ## Examples ### Clean up newly imported transactions You download a month's worth of credit card transactions and notice that several restaurant purchases were imported without a category. Select all of the restaurant transactions, assign them the **Dining** category, and apply the change to every transaction at once. #### Standardize a payee name Your bank imported the same merchant using different names, such as **AMZN Mktp** , **Amazon Marketplace** , and **Amazon.com**. Select those transactions and update them to a single payee name so your transaction history and reports stay organized. #### Organize business expenses After returning from a client conference, you select all of your travel-related purchases---hotel, meals, parking, and airfare---and assign the same **Client \& Project** and **Business Travel** tag to every transaction. This keeps your records consistent and makes it easier to review expenses or prepare invoices later. *** ** * ** *** ## Bulk Edit Multiple Transactions 1. In **Transactions**, select the checkbox next to each transaction you want to edit. 2. Click the **More** (three-dot) menu above the transaction list. 3. Select **Bulk edit transactions**. 4. Select the transaction property (or properties) you want to update. 5. Enter or select the new value. 6. Click **Apply**. > **Tip:** Bulk edits apply the same change to every selected transaction. Before clicking **Apply**, confirm you've selected only the transactions you want to update. *** ** * ** *** ## Related Topics: * [Working With Transactions](https://info.quicken.com/sim/working-with-transactions.md) * [Reviewing Transactions](https://info.quicken.com/sim/reviewing-transactions.md) * [Using Categories \& Tags](https://info.quicken.com/sim/using-categories.md) * [Searching Transactions](https://info.quicken.com/sim/searching-transactions.md) * [Filtering Transactions](https://info.quicken.com/sim/filtering-transactions.md) * [Flagging Transactions](https://info.quicken.com/sim/flagging-transactions.md) --- language: "en" --- # Equity ## Definition Equity is the value you own after subtracting what you owe. A simple way to think about it is: **Equity = Assets − Liabilities** For example, if your home is worth $400,000 and you owe $300,000 on the mortgage, you have $100,000 in home equity. *** ** * ** *** ## Why It Matters An asset's total value doesn't necessarily tell you how much of it you actually own. Equity gives you a clearer picture by accounting for the debt attached to that asset. The same idea applies to a business. **Owner's equity** represents the portion of the business that belongs to its owner after the business's liabilities are subtracted from its assets. *** ** * ** *** ## How This Works in Quicken For personal finances, the value of assets such as a home or vehicle and the balances of related loans contribute to your overall **Net Worth**. **(Quicken Business \& Personal only)** Business equity is reflected as **Owner's Equity** on the **Balance Sheet Report**, representing business assets minus business liabilities. *** ** * ** *** ## **Related Terms** * [Assets \& Liabilities](https://info.quicken.com/sim/assets-liabilities.md) * [Net Worth](https://info.quicken.com/sim/net-worth.md) * [Net Worth Dashboard](https://info.quicken.com/sim/net-worth-dashboard.md) --- language: "en" --- # Running Reports ## Overview The**Reports** dashboard gives you a clear picture of your financial life --- from where your money goes each month to how your business is performing over time. Whether you want to track personal spending, prepare for tax season, or review your business's profit and loss, reports put that information at your fingertips in a format you can act on. Note: Business reports are available in *Quicken Business and Personal.* *** ** * ** *** ## Reports Dashboard The Reports dashboard is organized into two areas: * **Report Options** --- A gallery of report types you can run at any time. Each report type generates a fresh view based on your current data and the date range you choose. * **Saved reports** --- Reports you've customized and saved. Saved reports retain your date range, filters, and settings so you can run the same report again without reconfiguring it each time. *** ** * ** *** ## Report Types Quicken offers eight report types, each designed to answer a different financial question. ### **Personal Finance Reports** * **Spending** --- Breaks down your expenses by category so you can see exactly where your money goes. Useful for identifying areas where you're overspending. * **Income** --- Shows all income transactions over a period, organized by source. Helpful for tracking how much you earn and from where. * **Income \& Expense** --- Compares your total income against your total expenses side by side. A quick way to see whether you're living within your means. * **Net Worth** --- Tracks your total assets minus your total liabilities over time. Rising net worth is a sign your overall financial position is improving. * **Taxes** --- Summarizes transactions assigned to tax-related categories --- such as deductible expenses or taxable income --- to help you or your tax preparer at filing time. * **Savings** --- Shows your progress toward savings goals over time. ### **Business Reports** These additional reports are available in Quicken Business and Personal. They pull from transactions assigned to business categories. * **Profit \& Loss** --- Shows your business income minus your business expenses for a given period. This is the clearest view of whether your business is making money. * **Balance Sheet** --- A snapshot of what your business owns (assets), what it owes (liabilities), and the difference between the two (equity). Useful for understanding the overall financial position of your business at a point in time. **Monthly Summary** The **Monthly Summary** is a snapshot-style report that gives you a high-level view of your income, spending, top categories, and top payees. Click **Snapshot** to open it. *** ** * ** *** ## Saved Reports When you customize a report --- adjusting the date range, applying filters, or selecting specific accounts --- you can save it so you don't have to reconfigure it next time. Saved reports appear in the panel on the right side of the screen and in the tab bar at the top. **Tip:** Saved reports are especially useful for recurring reviews, like a monthly budget check-in or a year-end tax summary. *** ** * ** *** ## Related Topics * [Profit \& Loss Report](https://info.quicken.com/sim/understanding-your-profit-loss-report.md) * [Balance Sheet Report](https://info.quicken.com/sim/understanding-your-balance-sheet.md) * [Spending Report](https://info.quicken.com/sim/spending-report.md) * [Income Report](https://info.quicken.com/sim/income-report.md) [Tax Preparation and Reporting](https://info.quicken.com/sim/tax-preparation-and-reporting.md) * [Using Filters in Reports](https://info.quicken.com/sim/using-filters-in-reports.md) * [Saving, Exporting, and Printing Reports](https://info.quicken.com/sim/saving-exporting-and-printing-reports.md) --- language: "en" --- # Estimates, Invoices, and Sales Receipts: What’s the Difference? Estimates, invoices, and sales receipts are **sales documents** that represent different stages of working with customers. Choosing the correct document ensures your financial records are accurate, your customer communications are clear, and your reports reflect the true state of your business. Think of these documents as part of a natural progression---from **pricing** , to **billing** , to **payment**. *** ** * ** *** ## Overview Each document serves a distinct purpose based on **when work happens and when payment is received**. * **Estimates** are used *before* work begins to share pricing. * **Invoices** are used *after* work is completed when payment is still owed. * **Sales receipts** are used when payment is received immediately. Although they may look similar, each document affects your records differently. *** ** * ** *** ## Why These Differences Matter Using the right document at the right time keeps your records **accurate, meaningful, and easy to manage**. ### For your bookkeeping * **Invoices** track money customers owe you (Accounts Receivable) * **Sales receipts** record income immediately * **Estimates** do not affect your books until converted #### For your customers * Professional, consistent documentation * Clear expectations around pricing and payment * Records they can use for their own accounting #### For tax and reporting * Accurate income reporting * Clear documentation of business activity * A reliable audit trail if needed #### For business decisions * Visibility into outstanding payments * Insight into which estimates convert to sales * Better understanding of cash flow *** ** * ** *** ## Estimates: Before the Work **"Here's what it would cost."** An estimate (also called a quote or proposal) provides a customer with an expected price before any work begins. Estimates help customers evaluate scope and cost but are not bills and do not affect financial reports until converted. ### Key characteristics * Created before the customer commits * Can be accepted, rejected, or negotiated * Not legally binding * Does not record income or balances #### Example A landscaper provides a $2,500 estimate to redesign a backyard. The customer reviews and approves the pricing before work starts. #### When estimates work best * Pricing needs approval before work begins * The job is large, custom, or planned * Scope may change **Common use cases:** contractors, event planners, web developers, mechanics *** ** * ** *** ## Invoices: After the Work, Before Payment **"You owe this amount."** An invoice is sent after work is completed or products are delivered when payment has not yet been received. Invoices create Accounts Receivable and help you track who owes you money. ### Key characteristics * Issued after delivery or completion * Includes payment terms (Net 15, Net 30, etc.) * Tracks outstanding balances * Requires follow-up until paid #### Example A graphic designer completes a project and sends a $1,200 invoice with payment due in 15 days. #### When invoices work best * Payment will be received later * You offer payment terms * You need to track unpaid balances **Common use cases:** consultants, agencies, wholesalers, freelancers *** ** * ** *** ## Sales Receipts: Payment Happens Immediately **"Paid in full."** A sales receipt records a completed transaction where payment is received at the time of sale. Because payment is immediate, there is no outstanding balance. ### Key characteristics * Payment received right away * No Accounts Receivable created * Income recorded immediately * Serves as proof of purchase #### Example A coffee shop sells a latte and receives payment at checkout. The sales receipt records the transaction. #### When sales receipts work best * Payment is collected on the spot * The sale is completed immediately **Common use cases:** retail, salons, food trucks, in-person services *** ** * ** *** ## Common Sales Workflows ### Estimate → Invoice → Payment Customer requests pricing → estimate is approved → work completed → invoice sent → payment recorded **Example:** A photographer estimates $800 for a wedding, converts it to an invoice after the event, and records payment when received. #### Invoice → Payment Work completed → invoice sent → payment recorded **Example:** A monthly bookkeeping service invoices a client at month-end and receives payment later. #### Direct Sale (Sales Receipt) Product or service delivered → payment received → transaction complete **Example:** A customer pays for grooming services at pickup, and a sales receipt records the sale. *** ** * ** *** ## Guidelines for Choosing the Right Document Use this quick guidance when deciding: * Use an **Estimate** when pricing needs approval before work starts * Use an **Invoice** when work is complete but payment is still owed * Use a **Sales Receipt** when payment is received immediately Choosing the correct document ensures your financial records reflect what's actually happening in your business---and saves time correcting mistakes later. *** ** * ** *** ## Related Topics: * [Sales \& Billing Dashboard: Invoices, Estimates, Receipts](https://info.quicken.com/sim/sales-billing-dashboard-invoices-estimates-receipt.md) * [Creating and Managing Invoices](https://info.quicken.com/sim/creating-and-managing-invoices.md) * [Using Sales Receipts](https://info.quicken.com/sim/using-receipts-to-track-immediate-payments.md) * [Accounts Receivable](https://info.quicken.com/sim/accounts-receivable.md) * [Handling Bulk Deposits and Undeposited Funds](https://info.quicken.com/sim/using-the-undeposited-funds-account-for-bulk-depos.md) --- language: "en" --- # Expense ## **Definition** An expense is a cost you incur for goods, services, bills, or other needs, such as groceries, utilities, rent, or business supplies. Not every payment or withdrawal is an expense---for example, moving money between your own accounts is a transfer. *** ** * ** *** ## **Why It Matters** Tracking expenses helps you understand where your money is going, create realistic budgets, and compare spending with income. For a business, accurate expense tracking also helps you understand the cost of operating the business, measure profitability, and maintain reliable financial and tax records. *** ** * ** *** ## **How This Works in Quicken** Quicken uses expense categories, such as Groceries or Office Supplies, to organize and report your spending. In Quicken Business \& Personal, expenses can be designated as personal or business expenses and, when applicable, associated with tax categories. Properly categorized business expenses are included in business reports such as Profit \& Loss. *** ** * ** *** ## **Related Terms** * [Tracking Expenses](https://info.quicken.com/sim/daily-transaction-management.md) * [Income](https://info.quicken.com/sim/income.md) * [Transfers](https://info.quicken.com/sim/understanding-transfers.md) --- language: "en" --- # Filtering Transactions ## Overview The **Filters** panel lets you narrow your transaction list by selecting structured criteria such as category, payee, account, tag, flag, or review status. Filtering temporarily hides transactions that don't match your selections. Your data isn't changed or deleted. Remove the filters and everything reappears. *** ** * ** *** ## Where to Find It Select **Transactions** from the left navigation. Click the **Filter (funnel) icon** next to the Search bar to open the Filters panel. *** ** * ** *** ## When to Use Filtering Filtering is best when you want to work through a group of transactions or focus on a specific subset of activity. For example: * Review business expenses before tax time * Locating a specific transaction when you know the payee, category, or account * Check transactions for one client before invoicing (Quicken Business \& Personal only) * Work through flagged items * Find transactions that haven't been reviewed * Review a single account independently * Confirm which transactions will appear in a report Filtering is ideal for focused review and cleanup tasks. *** ** * ** *** ## How Filtering Works The Filters panel has three sections: ### Filter Types Choose what you want to filter by: * Categories * Payees * Tags * Accounts * Clients \& Projects (QBP only) * Flags * Advanced ### Options Select one or more options within that filter type. Many lists include a search field to help you quickly find items. ### Selected Filters A summary shows everything you've selected across filter types. You can remove individual selections or clear filters entirely. Click **Apply** to update your transaction list. When filters are active: * The Filter icon shows a badge with the number of selections applied. * The transaction list updates to show only matching results. * The toolbar reflects the count and net total of filtered transactions. Filters reset when you leave the Transactions view. *** ** * ** *** ## Understanding Filter Logic Filters follow two simple rules: * Within a single filter type, selections work as **OR**. * Across different filter types, selections work as **AND**. Example: If you select: * *Office Expenses* and *Meals* under Categories * *Amazon* under Payees You'll see transactions that are: (Office Expenses OR Meals) AND Amazon. Understanding this helps you combine filters intentionally. *** ** * ** *** ## Filter Types ### Categories Filter by top-level category or expand to select specific subcategories. In Quicken Business \& Personal, Business categories appear. In Simplifi, only Personal and standard categories appear. Example: Select **Office Expenses** to review business supply purchases before tax time. *** ** * ** *** ### Payees Filter transactions from one or more merchants. Example: Select a vendor to review all transactions associated with them. *** ** * ** *** ### Tags Filter by custom tags used to track projects, trips, or campaigns. Example: Filter by "Home Office" to review related expenses. *** ** * ** *** ### Accounts Show transactions from one or more specific accounts. Example: Select your business checking account to review only business activity. *** ** * ** *** ### Clients \& Projects (QBP only) Filter transactions tied to a specific client or project. Example: Before generating an invoice, filter by a client to confirm all billable transactions are included. *** ** * ** *** ### Flags Filter transactions by color flag or find transactions that haven't been flagged. Example: Filter by Yellow to resolve items marked for follow-up. *** ** * ** *** ### Advanced Additional options include: * Bills \& Subscriptions * Excluded / Not excluded in reports * Excluded / Not excluded in spending plan * Reviewed / Not reviewed Example: Select **Not reviewed** to work through transactions waiting for confirmation. *** ** * ** *** ## Combine Filters You can select options across multiple filter types at the same time. Example: To review all unreviewed business expenses for one client (QBP): * Select **Business** under Categories * Select the client under Clients \& Projects * Select **Not reviewed** under Advanced Click **Apply** to see only transactions that match all selected criteria. *** ** * ** *** ## When to use Filters Instead of Search Use **Filters** when: * You want to review or work through a defined group of transactions. * You prefer selecting from lists rather than typing search expressions. * You're focusing on cleanup, review, or preparation tasks. Use **Search** when you're looking for something specific or combining detailed search conditions. *** ** * ** *** ## Removing Filters To adjust or remove filters: * Remove individual selections in the Selected Filters column * Clear one filter type * Select **Clear Filters** to remove all filters You can also click the ✕ on the Filter badge in the toolbar to reset everything instantly. *** ** * ** *** ### Final Note Filtering helps you manage transactions efficiently by narrowing your view to exactly what you need---whether you're preparing taxes, invoicing clients, reviewing account activity, or cleaning up uncategorized entries. --- language: "en" --- # Financial Basics & Glossary Most of us aren't CPAs, and managing money can feel confusing or frustrating at times. But the good news is that a handful of simple concepts can make everything click. Once you understand the basics, Quicken Simplifi and Quicken Business \& Personal start to feel clearer, easier, and a whole lot more intuitive. You might even find yourself sounding like a financial pro in no time. These concepts are the foundation of how your money is tracked, organized, and shown back to you. You can return to this section anytime you run into a term or idea you want to understand better. Think of it as your go-to guide for making sense of how your financial system works, so you can stay in control, avoid common mistakes, and make informed decisions with confidence. Learn more about... * [Accounts](https://info.quicken.com/sim/accounts.md) * [Account Balance](https://info.quicken.com/sim/account-balance.md) * [Accounts Payable](https://info.quicken.com/sim/accounts-payable.md) * [Accounts Receivable](https://info.quicken.com/sim/accounts-receivable.md) * [Assets \& Liabilities](https://info.quicken.com/sim/assets-liabilities.md) * [Bulk Deposit](https://info.quicken.com/sim/bulk-deposit.md) * [Cash vs. Accrual Accounting](https://info.quicken.com/sim/cash-vs-accrual-accounting-1.md) * [Cash Flow](https://info.quicken.com/sim/cash-flow.md) * [Categories](https://info.quicken.com/sim/categories.md) * [Debt-to-Asset Ratio](https://info.quicken.com/sim/debt-to-asset-ratio.md) * [Deposit](https://info.quicken.com/sim/deposit.md) * [Equity](https://info.quicken.com/sim/equity.md) * [Expense](https://info.quicken.com/sim/expense.md) * [Income](https://info.quicken.com/sim/income.md) * [Net Worth](https://info.quicken.com/sim/net-worth.md) * [Transactions](https://info.quicken.com/sim/understanding-transactions.md) * [Tags](https://info.quicken.com/sim/tags.md) * [Transfers](https://info.quicken.com/sim/understanding-transfers.md) * [Undeposited Funds Account](https://info.quicken.com/sim/undeposited-funds-account.md) --- language: "en" --- # Flagging Transactions ## Overview Some transactions need a second look---maybe you don't recognize a charge, need to find a receipt, or want to discuss an expense with your partner or accountant before filing it away. Flags let you mark transactions with a color of your choosing so you can find them again quickly, without changing how they're categorized. If you've ever thought, *"I'll come back to that later,"* and then forgotten, flags are built for exactly that situation. *** ** * ** *** ## Flags are Visible Reminders A flag is a personal reminder attached to a transaction. It doesn't affect your reports, categories, budgets, or account balances. It's simply a visual cue that tells you this transaction still needs your attention. Because you decide what each color means, flags adapt to the way you work. Some people use a single color for every item that needs follow-up. Others create a simple system---for example: * **Red:** Investigate an unfamiliar charge * **Yellow:** Ask a partner or accountant * **Blue:** Finish updating later There's no right or wrong approach. The system works because the colors have meaning to you. *** ** * ** *** ## How to Add a Flag Once you've decided a transaction needs follow-up, adding a flag takes just a click. 1. Click the **Flag** icon next to the transaction. 2. Select one of the eight available colors: * Red * Orange * Yellow * Green * Blue * Violet * Brown * Black **Tip:** If you don't see the Flag column, click the **gear** icon above the transaction list and enable **Flag**. *** ** * ** *** ## Removing a Flag Click the flag icon and select **None** at the bottom of the color picker. **Tip:** Remove flags once you've resolved the issue so your flagged transactions remain a useful to-do list instead of a collection of completed tasks. *** ** * ** *** ## Finding Your Flagged Transactions Filtering by flag lets you see only the transactions you marked for follow-up, so you don't have to search through your full transaction list. 1. Click the **Filter** funnel icon above the transaction activity. 2. Select **Flags**. 3. Select one or more flag colors. 4. Click **Apply**. Your transaction list updates to show only transactions with the selected flag color or colors. To return to your full transaction list, click the **X** on the flag filter shown in the Quick filters area above your transactions. **Tip:** You can select more than one color at a time. For example, you might filter for both red and yellow flags to review transactions you need to investigate or discuss with someone. *** ** * ** *** ## Flags vs. Tags It's easy to confuse Flags and Tags, but they serve different purposes. * **Flags** are temporary visual reminders that help you remember to follow up on a transaction. Once you've resolved the issue, you typically remove the flag. * **Tags** organize transactions by project, client, property, or other long-term categories. Tags can be used for reporting and tracking over time, while flags do not appear in reports. If you need to group transactions for reporting, use a Tag. If you simply want a reminder to come back to a transaction later, use a flag. > **Note:** A transaction can be both **Reviewed** and **Flagged**. Marking a transaction as Reviewed means you've confirmed it's accurate. A flag simply reminds you there's still a follow-up action to complete. *** ** * ** *** ## Examples ### Investigating an Unfamiliar Charge Sam notices a subscription charge he doesn't recognize. Rather than stopping what he's doing to research it, he flags the transaction **red**. A few days later, he filters his transactions by red flags, confirms it's an annual renewal he forgot about, and clears the flag. #### Confirming the Right Category Priya isn't sure whether a purchase belongs in **Business: Office Supplies** or **Personal: Shopping** . She flags the transaction **yellow** as a reminder to ask her accountant. Once she confirms the correct category, she updates the transaction and removes the flag. #### Verifying a New Transaction Rule Olivia creates a new transaction rule to automatically categorize payments from one of her regular vendors. Rather than assuming the rule is working correctly, she flags the next few transactions from that vendor **green**. During her weekly review, she confirms each one was categorized correctly, then clears the flags once she's confident the rule is working as expected. #### Monthly Review Together Alex and Morgan review their finances together once a month. During the month, either person flags transactions they're unsure about. At the end of the month, they filter their flagged transactions, answer their questions together, then clear the flags before finishing their review. *** ** * ** *** ### Guidelines for Use * Choose a simple color system you'll remember. For example, use red for transactions to investigate, yellow for questions you need answered, and blue for tasks to finish later. * Use flags for temporary follow-up, not long-term organization. If you need to group transactions for reporting, use Tags instead. * Clear flags once you've completed the follow-up so your flagged transactions remain a reliable action list. *** ** * ** *** ## Related Topics * [Working With Transactions](https://info.quicken.com/sim/working-with-transactions.md) * [Reviewing Transactions](https://info.quicken.com/sim/reviewing-transactions.md) * [Searching Transactions](https://info.quicken.com/sim/searching-transactions.md) * [Attaching Files to Transactions](https://info.quicken.com/sim/attaching-receipts-to-transactions.md) * [Managing Categories](https://info.quicken.com/sim/managing-categories.md) --- language: "en" --- # Quick Start Guide ## **Overview** New to Quicken Simplifi or Quicken Business \& Personal? This guide walks you through the core setup steps so you can get oriented quickly and start seeing value right away. You do not need to set up everything at once. Start with the basics: 1. Connect your accounts 2. Review your dashboard 3. Review your transactions 4. Choose what you want to do next Everything else builds from there. *** ** * ** *** ## **Step 1: Connect Your Accounts** You may have connected your accounts during setup --- if so, take a moment to confirm everything appears correctly. If you are running a business, notice how your Business and Personal accounts are separated. If you skipped this step or only added some accounts, now is the time to finish. Connected accounts are what bring Quicken to life. Once connected, Quicken automatically downloads transactions and balances so your financial information stays current. You can connect personal and business: * Bank accounts * Credit cards * Loans * Investment accounts If your financial institution does not support automatic downloads, you can still add accounts manually. Note: Transactions may take a few minutes to appear after connecting an account for the first time. If your Dashboard looks empty, give it a moment and refresh. **Next:** [Adding Accounts](https://info.quicken.com/sim/adding-accounts.md) *** ** * ** *** ## **Step 2: Set Up Your Business** *(Quicken Business \& Personal only)* To track your business and personal finances separately, you must add your business. If you didn't add your business during initial set-up, or your are adding an additonal business, make sure to do that now. This helps: * Keep business and personal finances separated * Improve reporting accuracy * Organize tax-related activity and keep you tax ready * Create clearer financial insights You can always refine things later --- the goal right now is simply getting organized. Quicken Simplifi users: Skip ahead to Step 3. **Next:** [Setting Up Or Adding a Business](https://info.quicken.com/sim/setting-up-your-business-in-quicken-business-perso.md) *** ** * ** *** ## **Step 3: Explore Your Dashboard** Your Dashboard is your financial home base. Your Dashboard is designed to help you quickly understand your finances at a glance. Spend a few minutes exploring the different sections and getting familiar with the information Quicken is already organizing for you. Your Dashboard gives you a quick snapshot of: * Account balances * Recent transactions * Upcoming bills * Spending activity * Net worth * Cash flow insights The Dashboard is also customizable, so you can organize it around what matters most to you. **Tip**: Don't worry about understanding every feature yet. Start by getting comfortable with your financial picture. **Next:** [Getting to Know Your Dashboard](https://info.quicken.com/sim/getting-to-know-your-dashboard.md) *** ** * ** *** ## **Step 4: Review Your Transactions** With your accounts connected, Quicken has already started categorizing your downloaded transactions. Take a quick pass to make sure things generally look correct. You do not need to review every transaction right away. Instead, focus on: * Incorrect categories * Duplicate transactions * Missing business expenses * Obvious errors Correcting a few important items now helps improve your reports, spending summaries, and future categorization. **Tip**: Don't aim for perfection on your first pass. Quicken learns from your edits over time. **Next:** [Working With Transactions](https://info.quicken.com/sim/working-with-transactions.md) *** ** * ** *** ## **You're Ready --- Where Should You Go Next?** Some people want to jump into action - by creating a personal budget or invoicing a client. Others prefer to build trust first by reviewing their finances and learning how things work. Choose the path that feels most useful to you. Here are some options: ### **Quicken Business \& Personal Users** #### Option 1: Review Transactions \& Accounts Start by reviewing your recent transactions and account activity so you can see where your money is going and confirm everything looks accurate. As your accounts download data, Quicken begins organizing your income, expenses, balances, and recent business activity automatically. This is one of the fastest ways to build confidence in your financial data and better understand how money moves through your business. You do not need to review every transaction right away --- just scan for anything that looks obviously incorrect or unfamiliar. **Next:** [Working With Transactions](https://info.quicken.com/sim/working-with-transactions.md) *** ** * ** *** #### **Option 2: Set Up Invoicing \& Payments - Get Paid** Ready to start using Quicken for day-to-day business operations? Create your invoice template, send invoices, record payments, or issue sales receipts. Even setting up your invoice template now can save time later. **Next:** [Tracking Income](https://info.quicken.com/sim/track-and-manage-income.md) *** ** * ** *** #### Option 3: Review Business \& Personal Categories Review your categories to make sure business and personal finances stay clearly separated for reporting, budgeting, and taxes. Categories help Quicken organize your financial activity so reports, spending summaries, and tax-related tracking are more accurate and useful over time. You can always refine categories later --- the goal right now is simply creating a clean foundation. **Next:** [Using Categories \& Tags](https://info.quicken.com/sim/using-categories.md) *** ** * ** *** #### **Option 4: Explore Business Cash Flow** Review how money is moving through your business by monitoring income, expenses, balances, and upcoming bills. This is often one of the fastest ways to understand your business finances. **Next:** [Running Reports](https://info.quicken.com/sim/essential-business-reports.md) *** ** * ** *** ### **Simplifi** #### **Option 1: Explore Your Spending** Not ready to create a Spending Plan yet? Start by reviewing where your money is already going. You can: * View spending by category * Identify subscriptions * Review monthly trends * Understand your cash flow **Next:** [Spending Report](https://info.quicken.com/sim/spending-report.md) *** ** * ** *** #### **Option 2: Review Recurring Bills \& Income** Confirm upcoming bills, paychecks, subscriptions, and recurring expenses so you can better understand your monthly cash flow. This is a great way to feel more organized without setting up a budget. **Next:** [All Series: Manage Recurring Bills \& Income](https://info.quicken.com/sim/using-the-bills-income-all-series-tab.md) *** ** * ** *** #### **Option 3: Create a Spending Plan** Ready to take the next step? A Spending Plan helps you organize your monthly income and expenses so you can make intentional financial decisions. You can start simple and refine it over time. **Next:** [Budgeting \& Spending Plan](https://info.quicken.com/sim/spending-plan.md) *** ** * ** *** #### **Option 4: Customize Your Dashboard** Make Quicken feel more personal by organizing your Dashboard around the information you care about most. **Next:** [Getting to Know Your Dashboard](https://info.quicken.com/sim/getting-to-know-your-dashboard.md) *** ** * ** *** ## **Keep Going at Your Own Pace** You do not need to master everything in one day. Quicken is designed to grow with you. Start with the basics, build confidence, and return to new features when you're ready. *** ** * ** *** ## Related In-Product Guides * [Welcome to Quicken Business \& Personal: Your First 5 Minutes](https://simplifi.quicken.com/?pendo=CxgYOV3jNvFfzH4v5sYTi--KumI&step=-qIV6eO-bqQyMskhusrC9h4cCMY) ## Related Topics * [Getting to Know Your Dashboard](https://info.quicken.com/sim/getting-to-know-your-dashboard.md) * [Financial Basics \& Glossary](https://info.quicken.com/sim/financial-basics.md) * [Tracking Business and Personal Asset Accounts](https://info.quicken.com/sim/tracking-business-and-personal-asset-accounts.md) * [Tracking Income](https://info.quicken.com/sim/track-and-manage-income.md) * [Tracking Expenses](https://info.quicken.com/sim/daily-transaction-management.md) * [Working With Transactions](https://info.quicken.com/sim/working-with-transactions.md) * [Bills \& Income: Your Financial Preview](https://info.quicken.com/sim/bills-income-your-financial-preview.md) * [Budgeting \& Spending Plan](https://info.quicken.com/sim/spending-plan.md) * [Sharing Your Finances with Partners, Family, or Accountants](https://info.quicken.com/sim/sharing-your-finances-with-partners-family-or-acco.md) * [Importing Transactions from Other Platforms (Web App Only)](https://info.quicken.com/sim/how-to-manually-import-transactions.md) --- language: "en" --- # Using Your Dashboard ## Overview The Dashboard is your financial home base. Each time you sign in, it brings together information from your connected accounts and tools so you can quickly see what is happening with your money. Your Dashboard gives you a quick snapshot of: * Account balances and net worth * Recent transactions and transactions that need review * Spending and income * Upcoming bills and subscriptions * Savings goals, investments, and credit score If you are using Quicken Business \& Personal, you will also see a snapshot of: * Business profit and loss * Customer invoices * Mileage and recent trips * Tax planner and estimated taxes These are just some of items you can display on your Dashboard. To tailor your Dashboard to what you want to see most, see [Customizing Your Dashboard](https://info.quicken.com/sim/customizing-your-dashboard.md). *** ** * ** *** ## Start with a Quick Financial Check-In You do not need to review every tile or account each time you sign in. A quick look at the Dashboard can help you answer three questions: * Do my accounts and balances look current? * Is there anything I need to review or prepare for? * What is the most useful action I can take next? For example, you might notice: * An unfamiliar or uncategorized transaction * A bill or estimated tax payment coming due * An unpaid customer invoice * A change in spending or income * Progress toward a savings, investment, or credit goal Because this information appears together, you can decide what matters without opening every account, report, or financial tool separately. **Note:** The information shown on your Dashboard depends on your subscription, connected accounts, and completed setup. You may not see every feature described in this topic. *** ** * ** *** ## What the Dashboard Helps You Understand Think of the Dashboard as a collection of financial signals. Each section or tile helps answer a different question. ### What do I have? Your Account list and tiles such as Net Worth, Holdings, and Investments show the value of your accounts, assets, and investments. #### What has recently happened? Recent Transactions shows purchases, payments, deposits, and other account activity. Review Transactions highlights activity that may need to be categorized, checked, or corrected. #### What may happen again? Bills \& Income helps identify bills, subscriptions, transfers, and income that may repeat. Recognizing recurring activity can make future cash flow easier to anticipate. #### Where is my money coming from and going? Income Report, Spending Report, and Top Spending Categories help you recognize income and spending patterns, including changes that may deserve a closer look. #### What is coming next? Bills \& Income, Invoices Overview, and Tax Planner help you prepare for expected money coming in or going out. #### How is my business performing? With Quicken Business \& Personal, tiles such as Business Profit \& Loss, Invoices Overview, Top Products \& Services, and Recent Trips help you monitor business activity. #### Am I making progress? Spending Plan, Savings Goals, Watchlist, Achievements, and Credit Score help you follow specific priorities and longer-term progress. *** ** * ** *** ## Notice, Investigate, and Act The Dashboard helps you notice a question or change. Select the related account, transaction, amount, tile, or link when you are ready to investigate or take action. For example: * Open an unfamiliar transaction to review its details. * Open Review Transactions to categorize or correct activity. * Open Spending Report when spending has increased. * Open Bills \& Income to prepare for upcoming payments. * Open Tax Planner to review an estimated tax payment. * Open Invoices Overview to check expected or overdue payments. * Open Spending Plan to see what is available to spend. * Open Net Worth to review your broader financial position. You do not have to solve everything at once. Choose the item that is most important today, take the next useful step, and return to the rest when needed. *** ** * ** *** ## Examples ### A Quick Personal Finance Check-In Taylor signs in, checks account balances, and reviews recent activity. After confirming that the newest transactions look familiar, Taylor checks Bills \& Income to make sure enough money is available for upcoming payments. In a few minutes, Taylor knows that everything is on track without opening every account separately. #### Finding Something That Needs Attention Alex notices several uncategorized transactions in Review Transactions. Alex opens them, assigns the correct categories, and identifies which purchases were business expenses. The Dashboard makes it easy to see where attention is needed and begin fixing it. #### Preparing for a Repeating Expense Morgan sees a transaction in Potential Recurring that appears to be an annual software renewal. Morgan confirms the recurring expense and plans for it before the next payment is due. *** ** * ** *** ## **Related Topics** * [Customizing Your Dashboard](https://info.quicken.com/sim/customizing-your-dashboard.md) * [Net Worth Dashboard](https://info.quicken.com/sim/net-worth-dashboard.md) * [Adding Accounts](https://info.quicken.com/sim/adding-accounts.md) * [Tracking Income](https://info.quicken.com/sim/track-and-manage-income.md) * [Tracking Expenses](https://info.quicken.com/sim/daily-transaction-management.md) * [Working With Transactions](https://info.quicken.com/sim/working-with-transactions.md) * [Bills \& Income: Your Financial Preview](https://info.quicken.com/sim/bills-income-your-financial-preview.md) * [Planning Tools](https://info.quicken.com/sim/planning-tools.md) --- language: "en" --- # Categorizing Credit Card Payments ## Overview Credit card expenses are recorded at the time of purchase --- not when you pay the bill. When both accounts are connected, Quicken automatically records payments as transfers, so no manual categorization is needed. Still, understanding how this works helps you catch miscategorizations before they cause problems. If a payment is accidentally changed from a transfer to an expense, your reports will double-count spending --- showing both the original purchases and the payment for them. *** ** * ** *** ### Categorizing Credit Card Payments #### The One Rule That Clears Up the Confusion **Credit Card Purchases are Expenses** **Credit Card Payments are Transfers** When you: * Buy office supplies on your credit card → That purchase is the expense. * Pay your credit card bill → You are moving money from checking to the credit card account. You are not spending the money twice. *** ** * ** *** ## How Quicken Handles This Automatically If both your checking account and credit card account are connected, you typically do not need to categorize credit card payments yourself. The system handles this automatically. Here's what happens behind the scenes: * When you make a purchase on your credit card, the transaction appears in the credit card account and is categorized as an *expense*. * When you pay your credit card bill, the payment is automatically recorded as a *transfer* between accounts. You are not recording a second expense --- you are simply moving money from checking to reduce the credit card balance. ### What You'll See: **In your Checking account:** The payment shows the credit card account name as the category. **In your Credit Card account:** The payment shows as *Transfer \> \[Checking Account Name\]*. These two entries are linked. If you delete the payment from one account, it disappears from both --- because they're two sides of the same transaction. #### Why This Matters If you understand this behavior, you'll know: * Why the payment doesn't appear as an expense * Why it shows differently depending on the account view * Why deleting or changing one side affects the other Most issues arise only when the transfer is changed to an expense category. *** ** * ** *** ## What Goes Wrong --- and How to Fix It Problems almost always start the same way: someone manually changes a transfer to an expense category. **Example:** A $2,000 credit card payment is recategorized as an expense. Your reports now show: * $2,000 in original purchases * $2,000 for the payment * **Total: $4,000** --- but you only spent $2,000. This double-counting affects Profit \& Loss reports, spending summaries, tax reports, and budget tracking. **If your expenses look higher than expected after a credit card payment, check the payment category first.** It should always show as a transfer, not an expense. **To fix a miscategorized payment:** 1. Go to **Transactions** 2. Find the credit card payment in your checking account 3. Open the transaction 4. Change the **Category** to the credit card account name 5. **Save** The linked entry in the credit card account updates automatically. Rerun your reports --- the totals should now reflect actual spending. *** ** * ** *** ## The Exception: Interest and Fees The credit card payment itself is not an expense. But interest and certain fees are. Common examples: * Interest charges * Late fees * Annual fees * Foreign transaction fees When these charges post, they appear as separate transactions in your credit card account. They are not part of the payment transaction. In most cases, you'll simply categorize these charges appropriately (for example, as **Interest Expense** or **Bank Fees**) if they are not already categorized automatically. Your payment remains a transfer --- even when interest or fees are involved. *** ** * ** *** ## Common Scenarios **Paying the full balance** Maria charges $3,200 in January and pays it in full at month-end. Her reports show $3,200 in expenses (from the purchases). The $3,200 payment is a transfer and adds nothing to expenses. **Carrying a balance with interest** James has a $5,000 balance. A $50 interest charge posts to his credit card account. He makes a $500 payment. The $50 interest is categorized as Interest Expense. The $500 payment is a transfer. His reports reflect only $50 in new expenses for the period. **Mixed business and personal use** Sarah categorizes each purchase individually as she goes. When she pays the card, the payment stays a transfer --- the categorization work was already done at the purchase level. *** ** * ** *** ## How to Fix Incorrectly Categorized Payments If a payment was mistakenly categorized as an expense: 1. Go to **Transactions** 2. Locate the credit card payment in your checking account 3. **Open** the transaction 4. Change the **Category** to the credit card account name (this creates a transfer) 5. **Save** The linked transaction in the credit card account will update automatically. After correcting, rerun your reports --- totals should now reflect actual spending. *** ** * ** *** ## Tips * Review purchases regularly rather than waiting for the monthly statement. * Never change an automatically created transfer to an expense category. * Reconcile your credit card account monthly to catch errors early. * If expenses appear doubled, check recent credit card payments first. *** ** * ** *** ### Related Topics * [Using Categories \& Tags](https://info.quicken.com/sim/using-categories.md) * [Adding Accounts](https://info.quicken.com/sim/adding-accounts.md) * [Tracking Expenses](https://info.quicken.com/sim/daily-transaction-management.md) --- language: "en" --- # Importing Transactions from Other Platforms (Web App Only) ## Overview Most accounts connect automatically and don't require importing transactions. However, if you have accounts from **other financial apps or institutions that don't support automatic connections** , you can bring those transactions using a **CSV file import**. Importing is ideal for transferring large batches of data --- such as when you're moving from another platform or adding historical transactions --- and works with files from: * **Mint** * **Personal Capital (Empower)** * **Apple Card** * **Custom CSV files** (from Quicken Classic or other sources) This helps you fill in missing transaction history, import older data, or migrate from another app without re-entering everything manually. 💡 **Note**: Importing is only available on the Web App. The mobile app does not currently support importing transactions. If you only need to add a few items, you can add manual transactions instead. ## When to Use Importing ### 📥 Migrating from Another App You previously used Mint or Personal Capital/Empower and want your past transaction history. → Use the Mint or Personal Capital/Empower import option when uploading. ### 🕰️ Filling in Historical Data Your bank only provides 90 days of downloadable transactions, but you need a full year of data. → Export older transactions from your bank into a CSV file and import them into your account. ### 🧾 Starting a Manual Account You prefer to track an account manually (e.g., an offline savings account or investment fund). → Use the CSV import to bring in your transaction history once, then add new transactions manually going forward. ## Before You Begin * We **recommend** downloading and using our[++**CSV Template**++](https://app.simplifimoney.com/files/import%20template.csv)to avoid any issues with importing**.** * Of you are importing to a manual account, you must create the manual account before having the ability to import transactions * If you're importing transactions from **Empower** (**Personal Capital)** , **DO NOT** alter the downloaded file. * **Categories are** **not imported**. You will need to categorize your transactions once imported. Only tags entered into the 'Tags' column will import. * Depending on your bank, you may be limited to download the last **90 days** of transactions. Older transactions can also be imported into Quicken using a CSV file. If you need transactions older than 90 days, you will need to contact your bank for further assistance. * **Mint**: Do not make any changes to the downloaded CSV or JSON file before importing. Make any necessary edits after the import. * **Mint**: Mint imports are limited to 10,000 transactions per import. ## Formatting Your CSV File ### Preparing and formatting your transactions for import * When importing your transactions, you will only be able to import **one account at a time.** * You will only be able to import the account's transactions **once.** * If imported transactions are **deleted** , you will have tomanually create the transaction. * Re-importing the deleted imported transaction to the same account **will not** restore the transaction. * If you are creating your **own CSV file** from scratch, you will need to make sure that you are using the exact same columns that are in our [++**downloadable template.**++](https://app.simplifimoney.com/files/import%20template.csv)Your CSV file should include: * Your headers should be labeled as **Date** , **Payee** , **Amount** , and **Tags.** * All of your transactions should have a **date** , **payee** , and **amount**. Leaving empty fields can lead to issues. * Dates need to be entered as **M/D/YYYY** (i.e., 1/1/2022). * **Negative** **transactions** need to have a **negative sign (-)** in front of the amount of the transaction, or the transactions will import as a positive transaction. ## How to Import Transactions 1. Sign in to Quicken Simplifi or Quicken Business \& Personal (Web App). 2. Select **Transactions** from the left menu. 3. Choose the account you want to import into. 4. Click the **Import** icon (cloud with upward arrow) in the top-right corner. 5. Choose your import data source (Mint, or Personal Capital /Empower, Apple Card or CSV file). 6. Review and follow the instructions provided for the import data source. 7. Select the file you want to import, or drag and drop it into the upload window. 8. Review the import summary, then click Import. After import, your new transactions will appear in your register. Review and categorize them to keep your reports accurate. ## Troubleshooting If transactions didn't import correctly: * Make sure the file headers exactly match the required names: Date, Payee, Amount, Tags. * Check that all dates use M/D/YYYY format. * Verify expenses include a negative (--) sign. * Re-download our CSV template to ensure proper column alignment. ## Key Takeaways * Importing is for bulk uploads, not individual transactions. * You can import one account, one time using the Web App. * Always back up your data before importing. * Use the Quicken Simplifi CSV template for best results. ## Troubleshooting Common Issues ### Import Failures * Check headers match exactly: Date, Payee, Amount, Tags * Verify date format is M/D/YYYY * Ensure no empty fields in required columns * Confirm negative signs on expenses ### Wrong Transaction Types * Expenses importing as income: Add negative signs * All amounts positive: Check CSV for missing minus signs ### Mint-Specific Issues * File modified: Re-download without changes * Over 10,000 transactions: Split into multiple files * Wrong import option: Select "Mint" not generic CSV ### Additional Notes * **Attachments**: While only CSV files can import, you can attach other file types (PDFs, images) to transactions after import * **Manual entry alternative**: For just a few transactions, manual entry is faster than import ## The Bottom Line Importing transactions requires careful preparation but enables you to maintain complete financial records. Use the official template when possible, follow formatting rules exactly, and plan time for categorization after import. Remember that imports are permanent---deleted imported transactions must be manually recreated. **Tip**: Before importing, create a test file with just 10-20 transactions to verify your formatting. If the test works, proceed with the full import. --- language: "en" --- # Including a Savings Transfer in Your Paycheck Series ## **Overview** If your employer splits your direct deposit between accounts---sending part of your paycheck to savings---you can include that transfer in your Paycheck Series. This lets you: * Track both deposits accurately * Keep your Spending Plan clean * Automatically record the transfer each pay period Once set up, both the checking deposit and savings transfer are created automatically when the Series matches a transaction. *** ** * ** *** ## **How it Works** When you add a transfer as a split in your Paycheck Series, Quicken automatically creates: * A **deposit reminder** in your checking account (net pay after deductions and transfer) * A **transfer reminder** in your savings account Each is tracked independently, so: * Your checking account shows exactly what was deposited * Your savings account shows the incoming transfer No manual entry is required. *** ** * ** *** ## **How Transfers Affect Your Spending Plan** Transfers between your own accounts are **excluded** from your Spending Plan and reports. This prevents: * Inflated income totals * Distorted budget calculations Your Spending Plan will show only the **net deposit into checking**---the amount available to spend. *** ** * ** *** ## **Add a Savings Transfer to Your Splits** Follow the same steps used to set up paycheck splits. **When assigning splits:** 1. Add your **gross income** and **deductions** as usual 2. Select **+ Split** to add a new row 3. In **Category**, select your savings account (this creates a transfer) 4. Enter the transfer amount 5. Set the final **Personal Income** row to **Overflow** 6. Confirm **Left to Split = $0.00** 7. Select **Continue** , then **Create** or **Update** Your savings transfer will now be included automatically in future paychecks. *** ** * ** *** ## **Example** Maria is paid biweekly and automatically transfers part of her paycheck to savings. **Gross pay:** $2,400.00 | Category | Amount | |----------------------------|------------| | Personal Income | +$2,400.00 | | Federal tax | $240.00 | | State tax | $96.00 | | Social Security | $148.80 | | Medicare | $34.80 | | Transfer: Joint Savings | $300.00 | | Personal Income (Overflow) | Overflow | **Net deposit into checking (Series amount):** $1,580.40 The math: $2,400.00 − $818.60 (taxes/deductions) − $300.00 (transfer) = $1,580.40 Left to Split = $0.00 ✓ Quicken creates: * A **$1,580.40 deposit** in checking * A **$300.00 transfer** to savings Maria's Spending Plan reflects $1,580.40 (available to spend), while her savings account shows the $300.00 transfer. *** ** * ** *** ## **Tips** * **Expect two reminders** You'll see one for the checking deposit and one for the savings transfer. This is expected---not a duplicate. * **Transfer amount changed?** Update the split amount to match your new direct deposit setup. * **Multiple savings accounts?** Add multiple transfer rows---each creates its own reminder. * **Using percentages?** If your employer splits by percentage, use a typical dollar amount and rely on **Overflow** to adjust for variations. * **Transfer not appearing?** Confirm the split row is linked to the correct account and that the account is connected. *** ** * ** *** ### **Related topics** * Set up a Paycheck Series with splits * Understanding Income Series * Working with the Spending Plan * Update your Paycheck Series after a pay change --- language: "en" --- # Income ## Definition Income is money you earn or receive, such as wages, business revenue, interest, or investment income. *** ** * ** *** ## Why It Matters Tracking income accurately helps you understand how much money you are bringing in and compare it with your expenses. For a business, accurate income records are essential for measuring profitability and creating reliable financial reports. Not every deposit is income---for example, loan proceeds or transfers between your own accounts should not be treated as income. *** ** * ** *** ## How This Works in Quicken Quicken uses income categories to identify and organize income transactions. In Quicken Business \& Personal, business income can also be associated with your business, clients and projects, invoices, and sales receipts, helping keep business and personal activity separate and supporting reports such as Profit \& Loss and tax reports. *** ** * ** *** ## Related Topics * [Tracking Income](https://info.quicken.com/sim/track-and-manage-income.md) * [Managing Your Business Income](https://info.quicken.com/sim/business-finance-basics.md) --- language: "en" --- # Income Report ## **Overview** The Income report shows all the money coming in---across your personal finances, your business, or both---in one place. Use it to quickly understand your income sources: * How much income you've received * Where that income is coming from * How it's changing over time Whether you're reviewing paychecks, tracking client payments, or analyzing business performance, this report gives you a clear, actionable view of your income. **Where to find this report** Go to **Reports** in the left navigation, then select **Income** **Report**. *** ** * ** *** ## **Why The Income Report Matters** It's easy to estimate what you earn. It's harder to see exactly: * What came in * Where it came from * How consistent it is The Income report isolates your income sources from everything else so you can focus on what's coming in---without the noise of spending. This becomes especially valuable if you manage both business and personal finances togehter (*Quicken Business and Personal users)*. You can: * View business and personal income together for a full financial picture * Or separate them to evaluate each independently Use this report when you want to: * See total income for a specific time period * Identify your largest income sources * Compare business vs. personal income * Spot trends or seasonal patterns * Prepare for taxes or financial planning * Confirm expected payments were received *** ** * ** *** ## **Who Should Use This Report** **Personal finance users (** ***Simplifi*** **)** Use it to verify income, track changes over time, and make informed budgeting decisions. **Business owners and self-employed users (** ***Quicken Business \& Personal*** **)** Use it to monitor both personal and business income sources. For business, use the income report to monitor revenue, evaluate clients or income streams, and stay on top of cash flow---one of the most important indicators of business health. *** ** * ** *** ## **What You'll See In The Report** When you open the Income report, you'll see two main sections: **The summary chart** at the top displays your total income for the selected period along with a visual breakdown by income type --- for example, how much came from Business Income versus Personal Income. The chart makes it immediately clear which income source is larger without having to read through individual transactions. **The "Income transactions by category" table** below the chart lists every income transaction in detail. Transactions are grouped by category by default --- Business income first, then Personal --- and each row shows the date, account, payee, any tags applied, and the amount. You can expand or collapse category groups to focus on what you need. *** ** * ** *** ## **Customizing The Report** The Income report is built to be flexible. A handful of controls at the top of the report let you shape the data to match exactly what you're trying to understand. ### **Choose Accounts to Include** Use the **All Business/Personal** dropdown to control which accounts are included: * **All Business/Personal** --- Full view across everything * **Business(es)** --- Business income only * **Personal** --- Personal income only *Tip:* Reviewing business and personal separately makes performance and tax prep much clearer. *** ** * ** *** #### **Set the Date Range** Use the date selector to choose how far back you want to look. Common options: * **Month to date** --- Track current progress * **Quarter to date** --- Monitor business performance * **Year to date** --- See the big picture * **Last month / quarter / year** --- Review completed periods * **Recent 3, 6, or 12 months** --- Spot trends * **Custom** --- Define your own range **Tip**: The date range drives everything in the report---always set this first. *** ** * ** *** #### **Applying Filters** Click **Filters** to narrow your view. You can filter by: * **Categories** --- Focus on specific income types * **Payees** --- See income from a specific client or employer * **Tags** --- Track projects or revenue streams * **Accounts** --- Include specific accounts only * **Clients \& Projects** --- Business-specific tracking * **Advanced** --- Additional options Filters can be combined to answer very specific questions. Example: *"How much did I earn from one client last quarter?"* *** ** * ** *** #### **Switch Between Transaction and Summary Views** Use the **Transaction / Summary** toggle: * **Transaction** --- Shows every individual transaction * **Summary** --- Shows totals only Use **Transaction** for verification. Use **Summary** for quick analysis. *** ** * ** *** #### **Changing How Data is Grouped** Use the **Category** dropdown to reorganize the table: * **Category (default)** --- Income types * **Account** --- Where income landed * **Tag** --- Projects or use cases * **Payee** --- Who paid you This doesn't change your data---just how you view it. *** ** * ** *** #### **Adjust Settings** Click the gear icon in the upper right of the transaction table to access additional display and calculation settings. **Accounting Method** * **Cash basis** --- Income appears when received (default) * **Accrual basis** --- Income appears when earned 💡 Most users should use Cash basis. Accrual is typically for invoicing businesses. **Display Options** * Show expenses as negative * Hide cents **Table Settings** * Manage columns * Alternate row color * Expand/collapse groups * Adjust row height *** ** * ** *** ## **Saving, Exporting, and Printing** Once you've customized the report the way you need it, you have three options for preserving or sharing it. ### **Saving a Report** Click **Save** (or select **Save as new report** from the three-dot menu) to save your current report configuration --- including account selection, date range, filters, and view settings --- as a named report. Saved reports appear in the Reports tab bar so you can return to the same view anytime without reconfiguring it. **Why save a report?** If you review your business income every month, save the report once with your preferred settings. Next month, just open it and update the date range --- everything else is already set. #### **Exporting a Report** Select **Export** from the three-dot menu to download the report data. Exporting is useful when you need to share income data with an accountant, import it into another tool, or include it in a spreadsheet for further analysis. #### **Printing a Report** Select **Print** from the three-dot menu to print the report or save it as a PDF. This is helpful for record-keeping, sharing with a financial advisor, or including in a loan application or business plan. *** ** * ** *** ## **Real-World Examples** ### **Example 1: Reviewing Monthly Household Income** Maria and her spouse both work full-time. At the end of each month, Maria opens the Income report set to **Last Month** and the **Personal** account portfolio. She can immediately see that two paychecks came in and a small interest deposit appeared --- confirming that all expected income for the month is accounted for before she adjusts their household budget. #### **Example 2: Tracking Business Revenue by Quarter** David runs a consulting practice as an sole propriter. At the end of Q1, he opens the Income report, selects his **business account portfolio** , and sets the date range to **Last Quarter** . He changes the row grouping to **Payee** to see revenue organized by client. He can see that one client represents over 60% of his quarterly revenue --- a useful signal that he may want to diversify his client base heading into Q2. #### **Example 3: Using Income Data to Make Better Business Decisions** The Income report becomes especially powerful when you use it to compare --- not just to review. **Comparing businesses against each other** If you run more than one business, you can use the account selector to view each business portfolio separately, then compare totals side by side. If one business is generating significantly more income than the other, that's useful information --- especially if you're spending equal time on both. The report gives you the data to ask the harder question: is the time I'm putting into this business proportional to what it's bringing back? **Comparing clients within a business** Switch the row grouping to **Payee** and filter to your business accounts, and the report reorganizes around who is actually paying you. This view makes it easy to see which clients are your biggest income sources --- and which ones aren't. This is where the Income report moves from bookkeeping into business strategy. If you're spending 80% of your time on a client that represents only 20% of your income, that's a signal worth paying attention to. The inverse is also worth watching: if 80% of your income is coming from a single client --- especially one whose project is wrapping up --- you're exposed. Losing that client next month means losing the majority of your revenue. Grouping by payee and reviewing the last three to six months can surface patterns that are easy to miss when you're in the middle of doing the work: which client relationships are growing, which are shrinking, and where your time is actually generating a return. **Example 4: Seeing Income You've Earned But Haven't Been Paid Yet** Diane runs a small marketing agency and invoices clients at the end of each project, with payment terms of 30 days. She switches her Income report to **Accrual basis** so the report reflects income she's already earned --- even when payment hasn't arrived yet. She groups the table by **Payee** to see what each client owes for the current quarter, then filters by **Tags** to break revenue down by project type. Without accrual basis, her report would only show what's actually landed in her bank account --- undercounting income she's already earned and making her business look less healthy than it actually is. With accrual basis, she can see the full picture: work completed, invoices outstanding, and revenue on the way. **Example 5: Preparing for Tax Season** Priya has a mix of business and personal income. When it's time to file taxes, she opens the Income report set to **Last Year** and the **All Business/Personal** view. She uses the **Categories** filter to isolate business income only, then exports the report to share with her tax preparer. She repeats the process filtering to personal income for a second export. Her tax preparer has clean, organized summaries without needing access to her Quicken account. **Example 6: Verifying a Client Payment** Jordan is waiting on a payment from a client. She opens the Income report, clicks **Filters** , and filters by the client's name under **Payees**. The payment appears in the list, confirming it was deposited and categorized correctly --- and she can see the exact date and amount without scrolling through her full transaction register. *** ** * ** *** ## **Tips and Notes** * Use this report with the **Spending report** to understand full cash flow * Transfers may appear but net to $0.00 (they are not income) * Only recorded transactions appear---make sure accounts are up to date *** ** * ** *** ## **Related Topics** * [Running Reports](https://info.quicken.com/sim/essential-business-reports.md) * [Profit \& Loss Report](https://info.quicken.com/sim/understanding-your-profit-loss-report.md) * [Using Filters in Reports](https://info.quicken.com/sim/using-filters-in-reports.md) * [Tracking Expenses](https://info.quicken.com/sim/daily-transaction-management.md) * [Using Categories \& Tags](https://info.quicken.com/sim/using-categories.md) [Next Page](https://info.quicken.com/llms-full.txt/1)