Quicken Community is moving to Single Sign On! Starting 1/22/21, you'll sign in to the community with your Quicken ID. For more information: http://bit.ly/CommunitySSO

Best way to utilize Split Transactions

I'm wanting to put Social Security income into my register with split transactions. Is the best way to have the following catagories, line items as split transactions:
(1) Income: Gross SSA ; (2) : Health Care: Medicare Health Insur (3) Fed Withholding: SSA: (4) Total Deductions SSA ((5) Income: SSA Net. This seems to be the most logical to me. I do not use my Quicken to help with taxes, but I'd still like to be able see My SSA net and gross on a report if I need to. Then when I run my reports just check the Category box or uncheck it as necessary for a given category and report, whatever it may be.

Best Answer

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    edited April 9 Accepted Answer
    The "net check" amount is the amount you'd enter as a Deposit in your check register, it doesn't show up on a split line.  Then you'd split that net amount, first showing the gross amount as a larger number than the net number and as a positive number, followed by the deductions show as negative numbers.  The sum of the positive numbers and negative numbers should equal the net number you started with. 
    That's a very reasonable approach and one that many people use. 

Answers

  • TJ102
    TJ102 Member ✭✭✭✭
    Looking for more specific idea on how to do it. I use Kaiser too in CO, so I assume you are too or CA.
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    edited April 9 Accepted Answer
    The "net check" amount is the amount you'd enter as a Deposit in your check register, it doesn't show up on a split line.  Then you'd split that net amount, first showing the gross amount as a larger number than the net number and as a positive number, followed by the deductions show as negative numbers.  The sum of the positive numbers and negative numbers should equal the net number you started with. 
    That's a very reasonable approach and one that many people use. 
  • TJ102
    TJ102 Member ✭✭✭✭
    How do you use help to find out what reports to use to see split transactions expanded in the report
Sign In or Register to comment.