Paycheck entry

RMW
RMW Member ✭✭
When I enter a paycheck into Quicken for Mac, I start with net amount deposited into my bank account. Then add the various deductions to get to the gross amount of that paycheck. So far so good. The problem is that in the Income / Expense and Cashflow reports, the reports show the gross amount under Income and the deductions as Expenses. The issue is that the tax, social security, medicare, etc. taxes never hit my account in the first place so they are not expenses from a cashflow point of view. I am unable to see the net amount deposited under Income so my cash flow is incorrect. This is a problem for any transaction that has net income going into the account and money withheld at the source of the payment. Rental Income and Expenses is another area that has this issue. Makes it really hard to compare these reports with the bank statement which only show net income for a paycheck, for example. Hard to explain but perhaps somebody can clear this up for me. Thanks.
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Comments

  • Jon
    Jon SuperUser, Mac Beta Beta
    In the Cash Flow report, if you change the Row selection from Category to Payee, does that help?
    Quicken Mac subscription. Quicken user since 1990.
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