Paycheck format for social security or pension/annuities that are similar to a W2 paycheck (4 Votes)

Hopefully, I’m not the only retired Quicken user who might appreciate this change!
Comments
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Why not simply use a split transaction? The "paycheck" form is nothing other than a fancy screen presentation of a split transaction.
I've used a split transaction for the entire 5 years that I've been receiving Social Security payments.
Q user since DOS version 5
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
The Paycheck reminder leaves a lot to be desired.
For instance it is not nearly as flexible as a reminder for selecting the the schedulting.
There are missing intervals and it isn't possible to state that when it should end.
Not being able to have it end means that someone like a teacher that doesn't have the same paycheck for the whole year can't use it without it over inflating their income. Which is a problem in budgets and the tax planner that use this information for predicting the future.
It also has data enter problems like on my wife's paycheck the amount going to her 401K varies on every paycheck, which I just enter through the keyboard, but when I get to entering the part of the 401K payment that the employer puts in, I have to use the mouse to open up a dialog just to enter it, instead of just being able to get to it through the keyboard. This really slows down the entering of the information.
A note on getting started just using reminders for this function. Lots of times people don't know what categories Quicken is using for various items like the employer contribution to the 401K.
If you have a paycheck reminder entered into the register you can right click on it and then select Add Reminder. Then you will be able to tweak that reminder in the ways that the the Paycheck reminder doesn't allow.0 -
Because SS does come monthly and has no scheduled end (and many pensions are likewise), this does seem straightforward and useful.The Paycheck reminder leaves a lot to be desired.
For instance it is not nearly as flexible as a reminder for selecting the the schedulting.
There are missing intervals and it isn't possible to state that when it should end.
Not being able to have it end means that someone like a teacher that doesn't have the same paycheck for the whole year can't use it without it over inflating their income. Which is a problem in budgets and the tax planner that use this information for predicting the future.
It also has data enter problems like on my wife's paycheck the amount going to her 401K varies on every paycheck, which I just enter through the keyboard, but when I get to entering the part of the 401K payment that the employer puts in, I have to use the mouse to open up a dialog just to enter it, instead of just being able to get to it through the keyboard. This really slows down the entering of the information.
A note on getting started just using reminders for this function. Lots of times people don't know what categories Quicken is using for various items like the employer contribution to the 401K.
If you have a paycheck reminder entered into the register you can right click on it and then select Add Reminder. Then you will be able to tweak that reminder in the ways that the the Paycheck reminder doesn't allow.0 -
Hello All,
This Idea seems to have fallen stagnant and due to the age of the request and lack of User Votes/Comments, it will be archived within the next 7 business days.
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Quicken Community Support Team
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Being in the same boat, retired and on Social Security, I think it might be a good idea to have some quick way of creating a standardized Soc Sec paycheck transaction. A wizard using a set of built-in categories with appropriate tax line items would be nice to have. It took me a while to figure out how best to split my transaction, until I settled on this:I don't know if that's what would work for everyone, but it gets the job done for me.Let's have the programmers take a look at this.In the new wizard, there should be special attention paid to the typical payment schedule for Soc Sec payments: Monthly on the 3rd Wednesday, for example. There are many questions in the Community about how set this up properly.0
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I don't know how standard this split really can be. Mine is similar in structure but different in details from yours. Looks like you have Medicare Advantage but I have traditional Medicare. So my Part D premium and Medi-gap premium are debited separately, directly to the insurers. And I have no tax withheld, but I do (un)fortunately have IRMAA deductions. I also use a subcategory and a tag to distinguish my SS from Mrs. Squirrel's future SS.So the proposed wizard would have to ask a lot of questions.
Quicken user since version 2 for DOS, now using QWin Premier Subscription (US) on Win10 Pro.
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Rocket J Squirrel said:So the proposed wizard would have to ask a lot of questions.Signature:
This is my website: http://www.quicknperlwiz.com/0 -
Related to this: Quicken does not have an SSA-1099 tax form to which you can assign Social Security payments. They show as W-2. This requires separating them from real W-2 items when filing taxes.0