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Quicken for Mac - Requested Features: Add a Paycheck Wizard (updated) (55 Legacy Votes)

I would like to suggest adding two features ASAP to Quicken for Mac. I found these "basic" features very useful in previous windows versions:
(removed 2017 reference - Idea covers all currently offered QMac products)
- Automatic Paycheck - I could setup my paycheck's with gross wage, pre-tax deductions and after tax deductions. The deductions included 401K contributions, Health Savings Account (HSA), etc.
- Mortgage Loans - Setup the loan and schedule payments which would automatically split the payment into principal, interest, escrow, etc.
(removed 2017 reference - Idea covers all currently offered QMac products)
6
Comments
First, click on the link above to go there, then click VOTE at the top of THAT page, so your will vote count for THIS feature and increase its visibility to the developers.
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- Where to find a Help Guide for Quicken for Mac?
- Quicken Mac FAQ list
- Quicken Windows FAQ list
- Help Guide and FAQs for Quicken Mobile
COMPLETE list of Product Ideas - Quicken for Mac to VOTE onObject to Quicken's business model, using up 25% of your screen? Add your vote here:
Quicken should eliminate the LARGE Ad space when a subscription expires
(Canadian
To do that click on this underlined link, following the instructions then VOTE to your heart's content:
Categorized List of IDEAS of Feature Requests and Enhancements to Vote On
(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)
- Where to find a Help Guide for Quicken for Mac?
- Quicken Mac FAQ list
- Quicken Windows FAQ list
- Help Guide and FAQs for Quicken Mobile
COMPLETE list of Product Ideas - Quicken for Mac to VOTE onObject to Quicken's business model, using up 25% of your screen? Add your vote here:
Quicken should eliminate the LARGE Ad space when a subscription expires
(Canadian
(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)
- Where to find a Help Guide for Quicken for Mac?
- Quicken Mac FAQ list
- Quicken Windows FAQ list
- Help Guide and FAQs for Quicken Mobile
COMPLETE list of Product Ideas - Quicken for Mac to VOTE onObject to Quicken's business model, using up 25% of your screen? Add your vote here:
Quicken should eliminate the LARGE Ad space when a subscription expires
(Canadian
You may want to go click on the underlined link to add your vote to more related ideas.
(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)
- Where to find a Help Guide for Quicken for Mac?
- Quicken Mac FAQ list
- Quicken Windows FAQ list
- Help Guide and FAQs for Quicken Mobile
COMPLETE list of Product Ideas - Quicken for Mac to VOTE onObject to Quicken's business model, using up 25% of your screen? Add your vote here:
Quicken should eliminate the LARGE Ad space when a subscription expires
(Canadian
In Quicken Mac, I have one deposit transaction for my pay and a separate one for my wife's pay, each with all the splits for each payroll deduction. When I get paid, I enter the payee "Deposit (my pay)" and the net amount and all the split amounts are automatically filled in. It takes about 3 seconds to enter each paycheck, a few more when deductions change. So I just don't understand what a paycheck wizard does that could make this simpler or faster.
Next time, enter the memorized bill and adjust the splits. The categories will all be there.
Which is EXACTLY how the Paycheck Wizard in Windows worked. Unless your paycheck was exactly the same every pay period, you STILL had to adjust the split line amounts. But the categories remained the same.
In the old Quicken 2007 for Mac, you could actually "memorize" -- lock -- any such transaction, so Quicken would always use the same exact one every time. In Quicken 2017, there is no way to lock a transaction, so be aware that if you make changes to the splits on one paycheck, that's what will come up the next time you use the same Payee. This is why you might want to use a scheduled transaction, as @gmalis suggested, so the same base paycheck comes up twice a month. This is especially important if you have an infrequent different paycheck -- say a bonus -- and you don't want to change your deposit transaction and then have to change it back to normal the next time. On the flip side, if you use a scheduled transaction and there is an ongoing change -- let's say you reached your annual limit for a state unemployment insurance deduction -- you want to make that edit to the *scheduled* transaction so all subsequent deposits use the updated splits.
Oh, and if it's not clear how to create a scheduled transaction, it's easy. Select (single click) your most recent paycheck with all the splits. In the bottom toolbar, click Schedule. From the pop-up menu, select "Schedule Selected Transaction". Your transaction now opens, and there's a pop-up Schedule screen. You can select "Every two weeks" or "Twice a month", depending how your pay schedule works. For "Twice a month, you can then enter the pay dates (e.g. 1st and 15th of every month, or first and third Friday of every month). You'll see the future dates show up in gray in your transaction register. when each date passes, a little red "!" icon will be added to the gray transaction to signal the scheduled transaction should have occurred. Simply click on the transaction, and in the bottom toolbar, to the right of Schedule, click "Deposited".
One more note: if you download transactions from your bank, your manually-entered deposit transaction will duplicate the bank's deposit transaction. Either delete the duplicate transaction from the bank, which doesn't have your splits, or you can drag your transaction over the downloaded one, and Quicken will merge them. It tries to learn this behavior so it can do it automatically in the future.
I use "Social Security Deposit" as the payee for both my retirement benefit and my wife's spousal benefit. The transaction downloaded from my financial institution has only two differences: "FI Id" and "Amount".
I wish Quicken for Windows could match by using both the "Payee" and "Amount" fields. I might cut down on the number of times I import my Quicken Premier data into Quicken for Mac.