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

Has Quicken ever considered creating a paycheck format for certain types of monthly retirement income such as 1099R & SSA-1099 (social security income or pension/annuities) where they are paid similar to a W2 paycheck? The Quicken help section recommends that the “other income” reminder format should be used for all types of other income. Frankly, that format doesn't seem as intuitive in handling social security or IRA annuities which are basically the same as a paycheck. For that reason, I use the W2 paycheck to handle my routine, “other income” retirement income/deductions categories. The paycheck balances net pay nicely and is easier to work with. Unfortunately, the paycheck has a notation that says “W2” and not “other income”. Instead of a paycheck, it could be called something else. It would also be nice if this proposed benefit paycheck had an option to reduce my IRA investments in Quicken by the amount of each annuity or IRA payment. The existing “other income” format could be used for everything else.
Hopefully, I’m not the only retired Quicken user who might appreciate this change!
Hopefully, I’m not the only retired Quicken user who might appreciate this change!
4
Comments
I've used a split transaction for the entire 5 years that I've been receiving Social Security payments.
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
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.
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.
If you would like to see this Idea kept alive and considered for possible future implementation in Quicken, be sure to add your vote and a comment explaining how this Idea would be beneficial for you.
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Thank you,
Quicken Community Support Team
This is my website: http://www.quicknperlwiz.com/
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP