How do I use net pay w/ budget

J. Holmes
J. Holmes Member ✭✭✭✭

I set-up a reminder in Quicken Mac to track my paycheck.  The reminder includes salary less deductions.   When it comes to using the budget feature, my preference is to use my net pay.  How do I get the budget to use net vs. gross pay? 

Below is an example of a reminder.  Notably, the gross amount (Income & Salary category) is carried over to the budget vs. net amount.  


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Best Answer

  • J. Holmes
    J. Holmes Member ✭✭✭✭
    Answer ✓
    Thanks @Jon for the insights.  Yes, I track my paycheck as a split transaction to account for other accounts that I track in Quicken e.g. HSA, retirement savings, etc. 

Answers

  • Jon
    Jon SuperUser, Mac Beta Beta
    I don't think there's any way to have gross pay & deductions in the paycheck transaction but net pay in your budget. If you want to use net pay in your budget, then your paycheck transaction will have to have only the net pay in it and not be a split transaction.

    If you have any retirement savings withheld from your paycheck and you're tracking those accounts in Quicken, you'll have to enter those deposits as separate transactions.

    Quicken Mac subscription. Quicken user since 1990.

  • J. Holmes
    J. Holmes Member ✭✭✭✭
    Answer ✓
    Thanks @Jon for the insights.  Yes, I track my paycheck as a split transaction to account for other accounts that I track in Quicken e.g. HSA, retirement savings, etc. 
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