Manually enter a paycheck with splits into Mac Quicken

Question

I am trying to manually enter a paycheck into Mac Quicken (Version 6.12.5) and cannot figure it out. I have 31 splits but I keep getting one additional row with a balance adjustment. Do I record all splits as negative numbers or only specific ones? I have searched but can't find any answers, which tells me I must be overlooking something right in front of me. I would appreciate any help. Thank you.

kohster · Answer

One thing that I learned years ago when entering paychecks into Quicken, never mind the version, is that I needed to double check the final amount that was getting deposited into my bank account and make sure that was right before checking all the split values.  There were definitely multiple occasions where I couldn't figure out where I had made the error in the splits before remembering to check the final deposit amount.

ericsmoldt · Answer

Thank you for your prompt reply! I'm trying to work through this line-by-line. Accounting and finance are not my strength at all, but I'm trying! Thanks again.

jacobs · Answer

Wow, 31 splits seems like a lot for a paycheck. But it should work, whether there are 10 or 31…

Here's a sample paycheck entry:

In this example, the gross pay on the first split line is positive (income), and all the deductions (expenses and transfer to a retirement account) are negative. All the splits add up the net pay amount in the blue main transaction line.

Does looking at this give you any insight into your problem? If your splits don't add up to the total, can you figure out if something is missing, or has the wrong sign. I don't know what all your 31 split lines are for; are there any different types of transactions adding to or subtracting from your pay?