Hourly employees, Union trades

bwgries Member
edited October 2023 in Product Enhancements

Sure would be nice if the pay check input was not just for salary types, those of us that are paid hourly have a lot more numbers to track. Even with my basic computer skills I can make Excel do it automatically …… so I'm sure it'd be really easy for professionals

2 votes

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  • jacobs
    jacobs SuperUser, Mac Beta Beta
    edited September 2023

    What specific functionality would you be looking for?

    Do you have a scheduled transaction for each pay period, with all the tax withholding splits? Yes, you need to change the value each pay period depending on your variable pay for the period, but I find it's pretty quick to do just tabbing through the split lines. How would you want Quicken to make it easier for you?

    Are you wanting Quicken to calculate your withholding amounts based on your pay for the period? That might be do-able, but I see it as a significant challenge for Quicken to keep up with ever-changing federal, state, and local tax rates, as well as changing health-care premiums, union contributions, pension contributions, maximums on certain types of tax withholding, etc.

    And even if Quicken were to have formulas to calculate withholding, you might find differences of a penny or two depending how your company's payroll system and Quicken do their calculations. (For instance, some payroll systems calculate taxes based on year-to-date taxes withheld, resulting in variations of a penny from week to week even when salary remains identical.)

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