Description/Category and Tags for split transactions

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jtothjr76
jtothjr76 Member
I receive a bonus each year that is deposited directly into my 401(k), (i.e., there is no transaction in my checking account). I also track deductions from my pay (e.g., fed income tax). The problem is that unlike normal pay that deposits into my checking account, this transaction is deposited directly into my 401(k) in Quicken and I lose the Description/Category and Tag labelling ability for the net deposit. For example, if I receive $1,000 as a bonus, after entering the tax deductions, I cannot add a Description/Category or Tag for the net deposit (e.g., _401Contrib). The lack of this ability means that the net deposit won't show up in reports such as Tax Schedule. I can add a two adjustment transactions to the split to accommodate for the lack of this ability, but I generally don't like adding ghost transactions to account for features that should be part of the program. I also don't like adding a zero dollars transaction in my checking account register in Quicken that shows the transfer to my 401(k) since this is not a real transaction that would ever appear in my bank statement.

My hope is that Quicken employees monitor these posts and that this feature could be incorporated into future releases.

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  • jacobs
    jacobs SuperUser, Mac Beta Beta
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    My hope is that Quicken employees monitor these posts…

    Only the site moderators generally see posts here; the developers and product management people generally don't, sorry to say.

    I'm not sure I understand your issue here, though. The deposit in your 401k account is a transaction with Type+Payment/Deposit, right? So you should be able to add a Category, Memo/Note, and or Tag to the overall transaction, as well as to any splits. I'm not sure I understand wanting the net deposit to show up in a tax report; is your concern that there is gross salary which should be reported as income, and the tax deduction reported as taxes paid, in a tax report? I think the best way to do that is probably to do what you said: create a $0 transaction in a non-retirement account so the tax-related parts of this compensation get included in a tax report. (You can adjust the tax report to include the 401k acocunt, but then all your investment income in that account will also show up in the tax reports, and you proabbly would't want that.)

    Quicken Mac Subscription • Quicken user since 1993
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