401(K) Employer Contribution Transaction Category

NKBadger

Hello,

I noticed that the 401(K) Employer contribution in a Paycheck is recorded as a transfer from the bank account under Deposit Account section of the Paycheck to the 401(K) account.

The amount is not included in Net Pay calculations, but appears in Cash Flow report for the bank account as an Outflow from the bank account.

This surely is a bug. Has anyone encountered this situation?

I think Quicken needs to record the Employer Contribution as a Deposit transaction in the 401 (K) account. To get a correct cash flow report, I have to delete the employer contribution transaction in the 401(K) account and re-enter as a deposit transaction instead of a transfer-in transaction.

Any other tips would be useful.

-Neeraj

Chris_QPW

The paycheck wizard plays a trick with the Employer contribution that you can't see unless you change it into a regular split transaction.

If you right click on a paycheck transaction in the register and select Add Reminder and then dig into the split you will see these two split lines with offsetting amounts:

The overall effect should be that this amount is zeroed out.