Tax Reports, please!

Vger's Avatar

Vger

18 Apr, 2009 12:48 PM

One of the few things that I am REALLY going to miss from Quicken is their "Tax Summary" and "Tax Schedule" reports. This has often been invaluable at tax time to find relevant transactions that do not show up on 1099's, or for which a receipt was misfiled.

I hope you good folks can prioritize doing even a simpler version of this!

Thanks!

  1. 1 Posted by Brian Adler on 22 Apr, 2009 06:52 AM

    Brian Adler's Avatar

    Thank you for this suggestion. I will research the possibility of this with Sean, our developer.

  2. 2 Posted by Barry Gorrell on 20 May, 2009 06:41 PM

    Barry Gorrell's Avatar

    Most users of personal finance applications do so for three primary reasons. First, they want to quickly and accurately record, review and analyze financial transactions. Second, they want to record investments and track their performance. Third, they want to record and report on tax related catagories to help with tax preparation and planning. Moneydance does a great job with the first two, but appears lacking in the tax area.

    It would be great if when creating or editing income and expense catagories there was a check box to designate if a particular catagory was tax related. If a catagory is tax related a second pull down menu should allow the selection of a specific tax catagory. Of course such a tax catagory list might need minor updates from year to year. Advanced users would probably also like a feature for editing/updating the tax catagory list with customized tax catagories.

  3. 3 Posted by John Selden on 21 May, 2009 01:09 AM

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    Just as a suggestion until this feature request is implemented, you can already create a tax report in the current version of Moneydance.

    Go ahead and create all of your tax categories just as Barry suggested. You can even put the label "{TAX}" at the end of every tax-related category name so they are easy to distinguish. (This is similar to the suggested checkbox.)

    Then you just generate either an "Income and Expenses" report or "Detailed Income and Expenses" report. For that report, you can pick any and all categories you want to appear. Select all the tax categories you identified or created. Pick the full calendar year for the dates. Generate the report and then have Moneydance MEMORIZE IT. When Moneydance memorizes a report, you can give it a custom name, like "2009 Tax Report."

    You only have to do the upfront work once (which is a small price to pay if you need/want this functionality now). Once the report is memorized, you only need to click the report name to generate an updated report. Voila, one-button tax reporting!

  4. 4 Posted by Brian Adler on 21 May, 2009 03:51 PM

    Brian Adler's Avatar

    I have created a new ticket for this suggestion in trac. Please vote on it if you would like to see this implemented.

    http://moneydance.com/trac/ticket/1880

  5. Brian Adler closed this discussion on 21 May, 2009 03:51 PM.

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