When entering a split transaction for the bi-weekly paycheck, do you enter the amounts as positive?

anthonerw

My employer direct deposits my pay. I want to be able to record this as a split transaction to ensure that I accurately tracking taxes, 401K contributions, and other deductions. After I enter the net pay amount, do I enter the deductions as positive or negative numbers in order for the entire transaction to equal my gross pay?

splasher

If you use the paycheck reminder wizard, you enter everything as positive numbers and Quicken subtracts as necessary.

If you are creating your own split, the paychecks gross amount would be positive and the rest would be negative so that the net of the split to be shown in the register would be your netpay.

Sherlock

In the split transaction, the gross pay is a positive entry and the deductions are negative entries.

I suggest you using a paycheck reminder created using the Paycheck Setup wizard to enter your paycheck transactions: press Ctrl + J, select Add > Income Reminder and Paycheck Setup wizard

anthonerw

Thanks for the assistance. It worked out as noted.