Unable to display items that are in the register based on Tags or based on Income filters
I am unable to get a report to display records that are 'tagged'. Some show some do not.
I am using the Income and Expenses template. ie. Months across top, items down left side. Income and Expenses.
The scenario is.
A transfer from Acct A into Acct B occurs as an income feed, and the record is tagged as "Drawdown".
The transfer also has a SPLIT transaction with the other item categorised as 'TAX' and also tagged as "Drawdown" but this element ie. Effectively NOT being transferred into the Acct B register but 'trackable' by its categorisation (and its tag).
Other records are also entered direct into Acct B representing an 'income' and categorised as such and also tagged as "Annuity".
These are also "SPLIT" records, with a tax portion in the split that is a debit from the total. ie It reduces the amount that is shown in the register. Visible only if you open the SPLIT. But reportable due to its categorisation.
The report is, filtered on tags "annuity" and "Drawdown" and will display the Annuity income and the tax deductions correctly but I cannot get it to display any of the "drawdown" from the Acct A to B transfer.
I have also tried including and excluding the Accts A and B in the filters, both together and independently. No change.
Any ideas ?
Is there a way to mark the transfer input as 'income' since this maybe the issue.
Meantime I cannot find any other report template that will allow me to select the required records but will keep trying them.
Thanks
Kev
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1 Posted by kevin on 21 Oct, 2024 06:24 PM
JUST TO ADD
I changed the tag to be identical on all transactions. Yet still the transfer into Acct B will not display.
This appears to be the case for any transfer from one acct to another.
No matter which side of the transfer is 'tagged' the reports will NOT include the entry as 'income'.
I am on latest version.
I believe the only way is to find a way to mark the transfer record as INCOME for it to become part of the INCOME & EXPENSES report. But I can see no way of achieving this.
2 Posted by mike63492 on 25 Oct, 2024 10:16 AM
Hi there
I am another user. If the tag in account B shows with [] brackets, it is as if the tag is not really there in account B (only in A) for the search function in the register. Same is true for Cheque # and Description
It is a bit of a pain, but in account B you can type or paste in the same Tag (or Reference or Description) and the search should then work.
Hope it helps
Mike W
3 Posted by mike63492 on 25 Oct, 2024 10:17 AM
Also applies to reports
4 Posted by kevin on 25 Oct, 2024 03:09 PM
@mike - Yes fully aware. I've tried this. The tags are still ignored.
That is because it is not seen as INCOME It's a catch 22 here I believe.
But I will keep searching for options.
5 Posted by dwg on 25 Oct, 2024 08:12 PM
An income and expense report will only show items that have been categorized. An account to account transfer is not an I & E item it is an asset transfer from one account to another hence will not appear in these reports.
There are plenty of discussions in the forums about how to show such items as income through using a extra pair of transactions.
Tags are just used as a sub filter in reporting rather than as a selection criteria in their own right.
6 Posted by kevin on 26 Oct, 2024 09:16 PM
@DWG - Yes , I understand INcome/Expense reports.
Yes - I know how to use tags.
I was hoping there was a template that had a tag filter that DID NOT restrict to INcome and Expense items. It seems not.
I'll research the forum for the other approaches, but it maybe just too much to bother with. ie. 3 or 4 transactions manual adjusted every month just to produce a tax and income report of "INCOME" from my Pensions and Investment accounts.
It may not be classic accounting but nonetheless it's income that HMRC requires me to track. .
7 Posted by Stuart Beesley ... on 27 Oct, 2024 06:04 AM
Ok. So I think I have a similar situation with regards to SIPP Drawdown, transfers and HMRC reporting. What I do is as follows
I have a ‘tax junk catceory’ that is ignored by all reports.
In my bank account I have a transaction reminder that records my SIPP/pension income using splits for gross, tax etc. there is no transafer, it just magically appears
In the investment account I have another reminder that automatically records the gross withdrawal of the pension, as an Xfr transfer from investment (cash) to the junk account.
I’m sure with some variation of this you will get what you need.
I also use the junk account to create manual txns to record capital gains that appear on income and expense too.
8 Posted by kevin on 27 Oct, 2024 08:42 AM
Hi all.
Thanks for input.
Yes Stuart. Similar problem.
I have accounts that track the SIPP fund. So all my income is transfers.
But I’ve now cracked it with a 7 split transaction in the SIPP account set for each month. 4 of the 7 being dummies.
Ie.
2 records are the actual money xfrr. The drawdown fund into my current account. A net payment after tax, and second being the a tax free element.
Then 1 record is the income tax payment (which never hits any account) but is seen as expense and can be reported on.
Then 2 dummy records for the before tax total drawdown and the tax free drawdown element. Categorised as income. These are as per normal records but they stay in the SIPP account.
Finally 2 dummy records, categorised as such, to cancel out the above 2 drawdowns and keep the SIPP total fund accurate. These are then filtered out of reports and so never seen.
I could have used a dummy account for some of this, but this works fine. I now include the SIPP acct into the report.
Thanks to all for their help.
Crazy solutions to a normal situation.
I still feel moneydance should be able to handle this better in reports but it cannot because there isn’t a template that doesn’t appear to filter one or other of these records out. Hence we have to have fake records everywhere.
I understand all the explanations that it has to conform to accounting practices but all I am trying to do is to create a report that allows me to report my income and tax paid to the HMRC requirements. (IRS in USA).
They kinda set all the accounting standards.
Allowing a transfer between accounts to be defined as a form of “income” as an additional option, is not an unreasonable suggestion. It would remove, in my case, 4 crazy dummy transactions per month.
I earn money in my invested pension fund.
I theforen “draw a salary” from this fund. The mechanics being that the pension fund sells shares and transfers monies to a “SIPP account” which under UK Law, manages the consolidated pensions as middlemen, the monies between the pension fund investment managers and the individual.
The SIPP account then transfer monies exactly as a salary to my current acct. And pay tax on the taxable portion in a PAYE manner. Some drawdown remains tax free for a period, up to a certain value.
This is standard process.
I track/miss or my pension fund and the SIPP account. And so everything in this process is “a transfer”.
So I would argue this is exactly standard accounting requirements as per the HMRC. Challenge them. :-)
:-) :grinning::grinning:
System closed this discussion on 26 Jan, 2025 08:50 AM.