Paycheck split auto deposits show up as transfers

jgpetten

Hi!

Using R42.8, Build 27.1.42.8, regularly updates. This has been an ongoing issue since I started using Quicken a couple of months ago.

Paychecks are set up in paycheck wizard with multiple split auto deposits - each auto-deposit appears to be set up the same way in paycheck wizard.

The deposits show up in the account registers as transfers from one of the accounts instead of just deposits into the accounts.

A seemingly related issue, but new today, one of the split auto deposits now shows up as 2 deposits into the account.

The details in the 'track paycheck' window shows the auto deposits exactly as expected.

Any ideas? Thanks in advance for the help.

volvogirl

Yes they will be transfers.  You have to enter the paycheck into one bank account to start.  Then any deposits to other accounts will be transfers from the first account.  There might be a way to show them as deposits in the other accounts but it might be complicated and involve setting up another holding account.  Or put the splits to a category and then make separate deposits in the other accounts and categorize them to the same category to offset it.

jgpetten

Hi Volvogirl, thank you very much for your response.

But it does not seem to agree to the way the paycheck wizard is presented. The paycheck wizard seems to allow split deposits - which would match the reality of what is happening.

If I enter my pay as one deposit and then log transfers, this is not what is happening in the actual paycheck and accounts and it will take some finagling to reconcile the accounts.

Additionally, one of the direct deposits has been showing up correctly.

Any additional thoughts?

Thanks again, I appreciate your feedback.

Jason

Sherlock

jgpetten said:

Hi Volvogirl, thank you very much for your response.

But it does not seem to agree to the way the paycheck wizard is presented. The paycheck wizard seems to allow split deposits - which would match the reality of what is happening.

If I enter my pay as one deposit and then log transfers, this is not what is happening in the actual paycheck and accounts and it will take some finagling to reconcile the accounts.

Additionally, one of the direct deposits has been showing up correctly.

Any additional thoughts?

Thanks again, I appreciate your feedback.

Jason

The paycheck wizard does distinguish the primary account from the other deposit accounts.

Quicken records all the income and deductions in one split transaction in the primary account and uses transfers to distribute the deposits appropriately.  If you do not want enter your paycheck transactions this way, I suggest you set up income reminders to enter the transactions the way you want.

volvogirl

It doesn't matter that the other accounts are showing the deposit as a transfer.  It's still adding to the balance and shouldn't affect reconciling each account.  How is it affecting the reconciliation?  The actual income is the Gross Amount of the check going to the Salary category.   

jgpetten

Sherlock, Volvogirl that does help clarify. Thank you both again for your help.

Yes, the paycheck is entered as a split transaction that seems to have everything in order and enters the correct applicable net deposits into the ledger of the primary and secondary accounts.

There is a second transfer entered as a standalone transaction entry in the primary account for the transfer to one of the secondary accounts. So it is a double deduction in the primary account. But only a single deposit/transfer to the other account. This is the part that is not adding up to me.

Sherlock

jgpetten said:

Sherlock, Volvogirl that does help clarify. Thank you both again for your help.

Yes, the paycheck is entered as a split transaction that seems to have everything in order and enters the correct applicable net deposits into the ledger of the primary and secondary accounts.

There is a second transfer entered as a standalone transaction entry in the primary account for the transfer to one of the secondary accounts. So it is a double deduction in the primary account. But only a single deposit/transfer to the other account. This is the part that is not adding up to me.

The paycheck reminder should not responsible for any standalone transfer transactions in the primary account.  I suggest you attempt to determine the source of the errant transactions.

volvogirl

How did the second transfer get entered?  Oh did you download the other bank account and it downloaded it?  Just delete the duplicate transaction.  

jgpetten

Yeah, no idea :) I was thinking it was from the reminder. It gets entered with a red pencil at the same time as the paycheck. I will look it some more. Thank you!