Paycheck Setup Modification

BBouquet
BBouquet Quicken Windows Subscription Member ✭✭
in Product Enhancements

For hourly paid people, add the option of using percentages of the gross amount for at least the following fields:

401k, 401k Match, Social Security, Medicare, Federal Tax

So you key in the Gross Amount and these fields automatically calculate the amounts based on the percentages.

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  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭

    That sounds like a good idea, but I can imagine the results might be a little off due to rounding issues. Is "pretty close" good enough for you?

    Also Federal tax withholding is not a straight percentage of your gross pay. It is a fixed amount plus a percentage of the amount above your bracket minimum.

    QWin Premier subscription
  • BBouquet
    BBouquet Quicken Windows Subscription Member ✭✭

    As long as the percentage option allows a manual overwrite on the individual paycheck you are entering.

  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭

    If you will be adjusting the amounts anyway, doesn't that reduce the value of the percentages?

    QWin Premier subscription

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