Trying to enter a credit to tax withheld on paycheck

sjtideman
sjtideman Member ✭✭
I have seen this happen occasionally...
I understand that usually you would enter your paycheck tax amounts as positive numbers, and Quicken will do the math to subtract them from your gross. Fine.
However, sometimes there is a need to enter a negative. My company apparently withheld too much for a tax that stops at a limit - this week they refunded me 4.26. Quicken won't let me enter a negative in the tax field. It gives a warning "You don't need to enter a negative amount for a deduction. Quicken will handle it for you."
I am trying to think of a way to enter this now... do I put in zero, let my check be wrong, and somehow make another entry to correct my tax withholding. It's really annoying that I can't do it the simple, clear way of putting in a negative amount!

You should be able to put a positive or a negative into every amount field. The system should not assume it knows what you're trying to do and block the entry. Maybe an 'are you sure?' would be appropriate.

Thanks!
Windows 11, Version R45.13, build 27.1.45.13
3
3 votes

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Comments

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Can you use the Other Income area, and assign the item to the tax category previously used?
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • sjtideman
    sjtideman Member ✭✭
    I don't see Other Income but I could put it in Other Earnings. Looks like it will let me assign it to that tax category. Thanks!

    I do wish it would let me just do it directly as a negative in the Tax area - is there somewhere I can submit an enhancement request?
  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭
    Another way......sounds like you went over the Social Security max.  Couldn't you just reduce the ss tax line for the net?  
  • sjtideman
    sjtideman Member ✭✭
    There are other taxes that stop as a limit as well, such as NJ SDI/UC, by the way.

    I'm not sure I understand what you mean, though. There's nothing to reduce - the tax was zero on the past few pay checks. I had it set at zero for this one. Now they decided they owe me $4.26, so the total would be negative $4.26. Reducing it is what I'm trying to do... but it won't take a negative number.

    Thanks!
  • Hello @sjtideman,

    Thank you for taking the time to reach out to the Community with your request.

    I went ahead and changed your post to an Idea so other users who have the same or a similar request can vote on your idea by clicking the up arrow (see below).


    Ideas are also reviewed by our Development and Product teams in order to improve Quicken and implement new features requested by customers.

    Please, be sure to add your own vote as well.

    -Quicken Jasmine
  • sjtideman
    sjtideman Member ✭✭
    Thanks!

    As an 'idea' then, I would say that you should be able to put a positive or a negative into every amount field. The system should not assume it knows what you're trying to do and block the entry. Maybe an 'are you sure?' would be appropriate.
  • Hello @sjtideman,

    I have added this little snippet into your original post! 

    Thanks!
    -Quicken Jasmine
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    You could work around the issue by entering the paycheck with a zero amount for the credit. In your example, this would make the paycheck $4.26 less than it actually was. Then you would enter a separate Deposit transaction for $4.26 with the appropriate Tax Category.  
    QWin Premier subscription
  • To keep the paycheck amount equal to the bank transaction you may be able to add an additional entry in the "Earnings" section for that one paycheck. Or, if needed, add it to the Paycheck reminder and leave it zero. I have my paycheck earnings entered as separate line items for Regular Hours, Holiday Pay, Vacation, etc. to match the entries on my paystub. I also receive a "Retroactive Amount" once each year and only add that line item to that specific paycheck.