Split Salary

Hi, I am new to Quicken and i have connected all my bank accounts, what I would like to know is how do I split my payment deposits so it shows Gross Income, Tax deductions and Net Income. What would be the best way to do this? Thanks in advance.

Best Answers

  • Bob_L
    Bob_L SuperUser ✭✭✭✭✭
    edited January 23 Accepted Answer
    Go the reminders page.  CTL-J.  From there click on add income reminder at the top of the page.  At the bottom of that dialog that opens, I suggest you choose the option to use the paycheck wizard.  That will let you set it up as you wish.  I recommend doing gross with deductions as opposed to just the net amount.
    Quicken Premier Subscription, Windows 10 Home
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Accepted Answer
    Just to be clear since you are new to Quicken.  The paycheck reminder that you setup with what @Bob_L suggested will allow you to enter a transaction into your register with the proper amounts split out, and when you download the transaction you will be matching it to that transaction.
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/

Answers

  • Bob_L
    Bob_L SuperUser ✭✭✭✭✭
    edited January 23 Accepted Answer
    Go the reminders page.  CTL-J.  From there click on add income reminder at the top of the page.  At the bottom of that dialog that opens, I suggest you choose the option to use the paycheck wizard.  That will let you set it up as you wish.  I recommend doing gross with deductions as opposed to just the net amount.
    Quicken Premier Subscription, Windows 10 Home
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Accepted Answer
    Just to be clear since you are new to Quicken.  The paycheck reminder that you setup with what @Bob_L suggested will allow you to enter a transaction into your register with the proper amounts split out, and when you download the transaction you will be matching it to that transaction.
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    NOTE that only the net amount of your paycheck will download ... as that's all that's deposited into your bank account.
    IF you have 401k deductions, or the like, they will download separately into the 401k account, if your 401k Trustee allows such.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • leunam12
    leunam12 Member
    Ok, thank you, I understand