How do I create a report that show net pay.

Sijidaegu

I spilt up my paycheck and broke It down from 401k to all the taxes. In the reports section I unchecked the Tax Category. It won't looks like I'm saving waaaayyyyy more not having the tax expense. How do I make it show my net income on the inflow or income section of report?

jacobs

@Sijidaegu Net pay isn't an amount tracked by Quicken, so there are two ways I can think of to get what you want...

The first isn't pretty, but it will get you the correct bottom line total: create a report which includes only your gross pay category and all the deduction categories in your paychecks. The report will give you a total of your gross pay and each of your deductions for the period of the report — and the grant total of the report will be your net pay.

A different approach would be to create a unique Payee for your paycheck deposits (e.g. "Paycheck Deposit - me", separate from "Paycheck Deposit - spouse", "Reimbursement Deposit, etc.) You'll have to go back and change the Payee name for your paychecks from the beginning of the year. But then you can create a report for just this Payee, where each entry all be the net pay from each paycheck.

Sijidaegu

I think option 2 suits me best. Been only using quicken since this year and my wife gets paid monthly so should take too long.

Also, in my paycheck split transaction I have “401k contribution”. When I run report it will show 401k contribution as an expense. How can I not have it as an expense. If I hide the 401k contribution it looks like I’m saving money cause it seems that I’m spending less.

Jon

One way to avoid your 401K contribution showing as an expense would be to create a Quicken account for your 401K and change the 401K contribution to be a transfer to the 401K account. This would also give you the opportunity to track your 401K investments.