Using Quicken 2011 Deluxe.I make estimated federal tax payments. The last one each year is due on Jan 15th of the next year. I just made that payment (for tax year 2012) today.Is there any way to get Quicken to recognize that this payment is for 2012? When I run the various reports Quicken does not include this amount in 2012 taxes. And, conversely, it does include the payment I made in Jan 2012 (which was for 2011 taxes) in the 2012 reports.
I'm not sure there is an automatic way to have Quicken do it but there is a way. Create a December income tax expense entry for the amount you are paying in January with the account being Accounts Payable. When you pay it in January you make the entry against the Accounts Payable instead of tax expense.
Bill - not quite following you here. Are you saying to create a category named "Accounts Payable" and then use that as you described?
OK - I created a new account named "Accounts Payable" and entered the estimated tax payment with a date of 12/31/2012. Then, on 1/11/2013 I transferred the money from my checking account to the new account. And now things show up in the reports like they should. A little cumbersome but it works - thanks.
Glad it worked for you.
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