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Posted by Laura on March 22, 2008, 8:44 pm
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And just because you don't like my answers, does not make them useless.
> LOL! The answer is no. Using the "invalid" domain and/or ID is a common
> munging technique. For more info take a look at this page:
> http://www.fingerlakesbmw.org/main/flmung.php. You will see that this is
> where I got the "sample.invalid". The author of that page is an internet
> friend of mine.He has a lot of good tips on his site. Here is another page
> of his worth checking out: http://k75s.home.att.net/index.html.
>
>>
>>
>> Hey "Laura" and "John"...you guys sock puppets for each other? The
>> similar email addresses, and equally useless responses, are a clue....
>> --
>> Pontius Pilate was the first great censor, and Jesus Christ the first
>> great victim of censorship.
>> ~ Ben Lindsay
>
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Posted by TomYoung on March 24, 2008, 12:21 pm
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>
> It's payment from a property management company for a couple of rental
> properties. Since they account for it in, say, December 2007, and
> their 1099 has it in tax year 2007, I have to have it in that year
> too. Hence the false date on my recording of its deposit in
> Quicken.
Gee, it seems like that problem is easily solved without monkeying
with dates.
Why not 1st record the check as a receivable with a date, say, of
12/31/XX and offsets to whatever income/expense accounts are affected,
and then record the deposit of the check in 01/DD/(XX+1) with the
offset going to the receivable account? Result: all income/expenses
reported in proper period for tax purposes and bank account activity
reflects actual check transaction dates.
Tom Young
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Posted by Bob Fry on March 24, 2008, 6:55 pm
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>> It's payment from a property management company for a couple
>> of rental properties. Since they account for it in, say,
>> December 2007, and their 1099 has it in tax year 2007, I have
>> to have it in that year too. Hence the false date on my
>> recording of its deposit in Quicken.
TY> Gee, it seems like that problem is easily solved without
TY> monkeying with dates.
TY> Why not 1st record the check as a receivable with a date, say,
TY> of 12/31/XX and offsets to whatever income/expense accounts
TY> are affected,
Sounds like what I want. How can I record the check as a "receivable"?
Quicken help didn't too much. This is possible in Q2006 Premier Home
& Business?
--
"Already, the Kay Report identified dozens of weapons of mass
destruction-related program activities and significant amounts of
equipment that Iraq concealed from the United Nations." --President
Bush, 2004 State of the Union Address
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Posted by Laura on March 24, 2008, 7:13 pm
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>=20
> >> It's payment from a property management company for a couple
> >> of rental properties. Since they account for it in, say,
> >> December 2007, and their 1099 has it in tax year 2007, I have
> >> to have it in that year too. Hence the false date on my
> >> recording of its deposit in Quicken.
>=20
> TY> Gee, it seems like that problem is easily solved without
> TY> monkeying with dates.
>=20
> TY> Why not 1st record the check as a receivable with a date, say,
> TY> of 12/31/XX and offsets to whatever income/expense accounts
> TY> are affected,=20
>=20
> Sounds like what I want. How can I record the check as a "receivable"?
> Quicken help didn't too much. This is possible in Q2006 Premier Home
> & Business?
I believe you can use the A/R features in H&B IF you have set up =
business accounts. That's what is it there for. Personal expenses/income =
side of H&B don't use the A/R or A/P functions.=20
The only problem with this suggestion is if your reports are set to run =
on a cash basis, you won't see the Receivable. You would be better off =
using the check date in your register. If it was really a December check =
(per its date), like a paycheck, then it makes sense to use that date in =
Q. Then when you deposit the check just "match" the transaction when you =
do the download. Then your 1099 & Q will match.
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Posted by TomYoung on March 24, 2008, 9:52 pm
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> >> It's payment from a property management company for a couple
> >> of rental properties. Since they account for it in, say,
> >> December 2007, and their 1099 has it in tax year 2007, I have
> >> to have it in that year too. Hence the false date on my
> >> recording of its deposit in Quicken.
>
> TY> Gee, it seems like that problem is easily solved without
> TY> monkeying with dates.
>
> TY> Why not 1st record the check as a receivable with a date, say,
> TY> of 12/31/XX and offsets to whatever income/expense accounts
> TY> are affected,
>
> Sounds like what I want. How can I record the check as a "receivable"?
> Quicken help didn't too much. This is possible in Q2006 Premier Home
> & Business?
I don't have H&B but yes, it's possible. Quicken, at its heart - all
flavors of Quicken - is just an accounting program that deals with
debits and credits (even though Quicken shields you from these terms)
so any entry I can dream up I *know* I can make in any version of
Quicken. Here's how to do it in Quicken Deluxe 2007 which should
pretty much guide you how to do it in H & B:
Tools > Account List > Add Account
(QD2007 then asks what financial institution holds this account, to
which I'd answer "none" because I'm just using this account to get the
accounting I want.)
"Choose the type of account to add" > Asset (A receivable is an asset
so this makes sense, no?)
"Name this account" > End of Year Rent from PM (Name it anything you
want that makes sense to you.)
QD2007 then wants to know the ending date of the "statement" and
ending balance on the "statement" to which I'd answer today's date and
$0 because nobody's providing me a statement and because it's March,
2007 and I only expect this account to have a balance at year end.
QD2007 then closes out the "new account" wizard and I'm taken to the
new accounts register that shows an opening balance as of today of $0.
So, next January 15th I get my check, let's say it's December's rent
for $1,000, and I make an entry to my new account as of 12/31/2008 for
$1,000 offset to Rental Income category. Then, on the same day
(1/15/2009) I deposit this check and reflect this in Quicken with a
deposit to my bank account and the offset to the new receivable
account. At the end of next year the new receivable account has a
balance of $1,000 and 15 days later it has a balance of $0 but my bank
account has gone up by $1,000.
That's all there is to it.
Tom Young
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