Downloading transactions should match Scheduled Paychecks rounding to within a few cents

VinceH

Paychecks may vary from one pay period to another, typically by only a few cents. It would be helpful for Quicken to recognize that an income in one's bank account on a date that matches the schedule that only differs by a few cents and should automatically match the downloaded transaction to the scheduled transaction.

Gilles9

I wouldn't want this to happen

UKR

OK, so the paycheck differs by "a few cents" every once in a while.
Now the 64¢ question is: What should Quicken do with the difference? Which of the many Split categories should Quicken assign the difference to? Might there be more than one category in need of adjusting?
Quite obviously, it can't (or shouldn't ever) leave the amount uncategorized.

Sorry, if I could vote on this Idea, I'd vote "No, do not make any program change". 👎️

VinceH

Those are good points, especially the categorization challenge. Perhaps then, Quicken can prompt placing the scheduled transaction next to the matched one and let the user allocate the difference to the appropriate categorization until the totals add up to the deposited amount? This will be an alternative to Quicken creating a new transaction with no splits which must then be edited to insert the split line items (which cannot be copied and pasted as a group) and then skipping the scheduled one.

UKR

IMHO, you should record your paycheck BEFORE you download transactions from the bank containing the deposit transaction. This way, the reminder with the correct paycheck amount is already on file and the downloaded deposit can be automatically matched to the register transaction.

majorgear

This is a great idea. I schedule paychecks to forecast income along with expenses, but my paycheck can differ by hundreds of dollars based on bonuses and other income incentives.

If they cannot match automatically, perhaps a compromise would be to manually match them. For example, select both transactons, right-click , and select "match transactions" .

jacobs

@majorgear To match the downloaded paycheck with the manual scheduled transaction, you just need to drag one over the other. This will change the manual transaction from scheduled to deposited. It will retain the amount of the downloaded transaction, since that's the correct amount received by your bank. If there's a difference, whether pennies or hundreds of dollar, you then need to edit the transaction and adjust the split amount(s) to make the remainder amount sitting in the last (uncategorized) split line go to zero.

M M

There have been many great points made. After reading them all, I second the option to automatically match my paycheck to my scheduled transaction paycheck if it only differs by a few cents. Then it can have an exclamation or something in the column where the blue dot appears to alert me that there is some uncategorized money that I need to adjust. I mean, if I'm going to have to adjust it after dragging it to match anyway, why not just automatically match? If there are intense opinions on both sides, make it an option and let us choose how much of a variance is acceptable. .01, .05, or 100 (for the user above with bonus issues and variances).