I use quicken to track expenses and income, and overall I find it very convenient since I can download info from our bank. I haven't figured out yet how to itemize or enter situations where we lay out money for other people and they pay us back. If its just something small ($10-20) then I dont mind because having that as an expense it doesn't mess up overall scheme of things. But what about larger items? for example -we go to the Staples sale and while we are there get a printer for my parents, my parents give me a check to pay me back, the check goes into the savings account next time I'm at the bank.

I cant delete the printer purchase and the check because then both my checking and savings accounts balances will be off.
I dont want the printer to be an "expense" and the check to be "income" of any type because thats not correct.
How should I be entering these transactions to show that they cancel each other out?

Can the printer be and "outlay" and the check be a "reimbursement"?

They have to have a preset for "money laundering"...
If they don't they SHOULD...

Thats exactly what I need, but I dont know how to do that. (its not a business program so I hope thats even an option)

Ok, this morning I checked in the program and of couse outlay/reimbursement is not a preset category.
What do I do now?

Isn't there a business reimbursement category? If not I'm not sure this is possible. Have been wondering myself.

I dont remember seeing a "business reimbursement"....

I could set up an Income: Reimbursement and a Expenses: Outlay categories which would work as a reminder to myself, but not cancel each other out.

I've been reading up in the quicken community website and it looks like my options are
1- Enter the outlay as an expense in whatever category and the reimbursement as a credit in that same category so it subtracts the money.
2- record both the outlay and the reimbursement as a "Receivables"

New question: What should I do with Dec 07 checks that didn't make it do the bank until 2008? (Example, payroll for the month is divided by days 1 -15, and 16-31, so the end of the month check arrives in the next month.)

Should I keep the check in January: Don't care about dates, as not to mess up the my monthly flow of 2 paychecks deposited per month
Or
Edit the checks so the system thinks they belong to 2007: Keep money earned in 2007 and 2008 separate

Bump. Someone, decide for me what makes more sense!!!!!!

keep the dates as they are on the checks (it also makes it easier if you ever have to refer back for whatever reason).
btw, bank of america online does this automatically for you (reports, budgeting, etc).

that must be a new bank

i have no idea what you're talking about

it's a good thing you're a moderator

Many "custom" software packages have special arrangements for swappable hard drives ...

Meaning, when the check was written out?
(I don't normally record that, I just keep track of when the money was deposited.)

no direct deposit?
i would suggest you do what you do normally, but just remember what went where so that when tax time comes around you won't be confused.

No direct deposit Some weeks I feel like I live in the ATM lobby.

with regard to the rebates, just record it as an expense and then only later when you finally get the rebate, mark it as a refund to the account.

re: depositing checks from last month, just be sure to input the date of the check and quicken should automatically accrue it to last years income.