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Can't set _401EmployerContrib as a category in Q Mac

Using Quicken Premier 2020 for Mac. Trying to reflect employer contribution to 401k using the category _401EmployerContrib in the transaction but not being recognized as a valid category. Historically this has been the right category and does appear in the categories window (window->categories). Is there a way to set this category or a new recommended way to track employer contributions?
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  • John_MJohn_M Member ✭✭✭✭
    Mike,

    Did you just transfer from the Windows version to the Mac version? Back when I was using the Windows version, _401EmployerContrib was created automatically by the "Payroll Wizard." The Mac version does not have a similar feature.

    Here is how I account for my 401(k) match. I have an income category called "Employer Match" that I include in my paycheck transaction. So there would be two inflows each paycheck, one for salary and one for the match. Then I have a split transfer in the paycheck that includes both my contribution and the match to my 401(k) account. This creates a cash balance in the 401(k) account which is then debited when the investment transaction occurs. If you use this method, make sure that the income category for the match does not have "Tax-related" checked or it will affect your Tax Schedule report.

    Others may have a different way of accounting for this and I would be very interested in hearing how they do it.
  • UKRUKR SuperUser ✭✭✭✭✭
    Being a Q for Windows user, I don't know what's available in the default list of Categories in Q Mac. I would look for categories that are similarly named, perhaps minus the leading _underscore. If Q Mac can have "hidden categories", look there and remove the "hide" checkmark.
    If you have to create your own categories, "401Employer Contrib" and "401Employer Contrib (spouse)" would be names I'd look for.
    These categories in my Q for Windows list are flagged as taxable, but do not have a tax line item associated with them.
  • kenmc411kenmc411 Member ✭✭
    > @"Mike Hochberg" said:
    > Using Quicken Premier 2020 for Mac. Trying to reflect employer contribution to 401k using the category _401EmployerContrib in the transaction but not being recognized as a valid category. Historically this has been the right category and does appear in the categories window (window->categories). Is there a way to set this category or a new recommended way to track employer contributions?

    I ran into this same problem. To get my budget to tally my contributions, I had to create a new category, which will only help going forward. My 15+ years of transactions that include the _401EmployerContrib category are basically stuck with that category and historical reporting will never line up (I'm not going to go back and change them all to a new category). Not sure if this strictly a budgeting problem, but it is one of many issues I have with Quicken for Mac budgeting (having migrated from Windows).
  • John_MJohn_M Member ✭✭✭✭
    @kenmc411 You say that you are "not going to go back and change them all to a new category." Have you considered merging the old category name into the new one? This post describes how:

    https://community.quicken.com/discussion/comment/20048845#Comment_20048845
  • UKRUKR SuperUser ✭✭✭✭✭
    edited March 3
    kenmc411 said:
    > @Mike Hochberg said:
    ...
    I ran into this same problem. To get my budget to tally my contributions, I had to create a new category, which will only help going forward. My 15+ years of transactions that include the _401EmployerContrib category are basically stuck with that category and historical reporting will never line up (I'm not going to go back and change them all to a new category). Not sure if this strictly a budgeting problem, but it is one of many issues I have with Quicken for Mac budgeting (having migrated from Windows).
    I don't know if that's possible in Q Mac in the same way as in Q Windows ...
    Can you recategorize all transactions pointing to the imported _401... category and change it to the one that Q Mac uses?
    I thought there was a drag-and-drop method of merging categories in Q Mac ...

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