› ›

paycheck splits randomly don't appear in the account

JulieJulie Member
edited January 18 in Bank Accounts, Downloading, and Categorization (Windows)
I have not changed my paycheck set up which previously worked correctly every time. I just discovered that 5 times this year the amount my employer puts in my retirement doesn't show up in that account as a credit. The other 19 times this year it did show up exactly as it was supposed to. I did not modify either account nor did I change the set up. It's completely random and now my retirement account shows a negative cash balance when it should be positive.

Comments

  • Jim_HarmanJim_Harman SuperUser ✭✭✭✭✭
    edited December 2018
    It's hard to say how this happened, but it shouldn't be too hard to fix the problems. 

    Are you using the Paycheck Wizard to record your paycheck? If so you can go to to the entry for each of the "bad" paychecks in the account where the net pay is deposited and see if the Employer match amount is correct there. If not, you should be able to correct it and the correct transfer should show up in the 401(k) account. 

    If this doesn't work, you may need to write down all the numbers in the paycheck then delete and re-enter it, making sure the entries are correct.

    As always, back up your data file before making historical changes in case something goes wrong.
    -- Jim QWin Premier subscription
  • JulieJulie Member
    edited December 2018
    Jim,


    Yes I am using the paycheck wizard and on each check the amount does show under “employer match”’and it shows the account name it’s going into. It just doesn’t actually end up in the account. But again, very randomly.
  • Jim_HarmanJim_Harman SuperUser ✭✭✭✭✭
    edited December 2018
    If you go to the destination account, is the XIn missing entirely or is it there but $0.00?

    If you also contributed, is the XIn for your contribution there?
    -- Jim QWin Premier subscription
  • JulieJulie Member
    edited December 2018
    It’s missing entirely. I didn’t contribute.
  • JulieJulie Member
    edited December 2018
    Jim, thanks for the ongoing discussion. I did just realize this happens on every single check where I have to make a slight adjustment on the ss / medicare tax. Every once in a while I end up with an extra penny in my net pay and this is due to the QuickBooks (my employer uses QB) calculation and fraction of cents. On each of these I have to adjust the medicare down a penny and it is on those checks that the contribution doesn't show up in the retirement account. I make no adjustment other than the medicare tax, however, that is the common denominator on all transactions related to this issue. Have you seen that before?
  • SimonSezSoSimonSezSo Member ✭✭
    edited January 18
    Julie, if you search for paycheck issues on this forum, you will see that there are several that describe the same issues you are having.  I myself have had these issues with my paycheck transactions for many years.  In spite of what some say here, it isn't a recent phenomenon.  My solution was to create a "regular" split transaction for my paychecks.  It accomplishes the same end result as a "create paycheck".  I myself don't see an advantage to using a "create paycheck" except that it is a fancy "wizard" that might make it easier for a first time user to create a paycheck transaction.  If you have a match contribution in your "create paycheck", you would need to then create a transaction in your retirement (401k) account to reflect the match contribution. (The match contribution is not actually part of your paycheck calculation).



  • Jim_HarmanJim_Harman SuperUser ✭✭✭✭✭
    edited December 2018
    SimonSezSo said:

    Julie, if you search for paycheck issues on this forum, you will see that there are several that describe the same issues you are having.  I myself have had these issues with my paycheck transactions for many years.  In spite of what some say here, it isn't a recent phenomenon.  My solution was to create a "regular" split transaction for my paychecks.  It accomplishes the same end result as a "create paycheck".  I myself don't see an advantage to using a "create paycheck" except that it is a fancy "wizard" that might make it easier for a first time user to create a paycheck transaction.  If you have a match contribution in your "create paycheck", you would need to then create a transaction in your retirement (401k) account to reflect the match contribution. (The match contribution is not actually part of your paycheck calculation).



    Note that in the split, the gross pay would be a positive number and all the deductions should be negative. When you are all done, the amount left should be what is deposited in your checking account. Make sure each Category has the appropriate tax line item.
    -- Jim QWin Premier subscription
  • SimonSezSoSimonSezSo Member ✭✭
    edited December 2018
    SimonSezSo said:

    Julie, if you search for paycheck issues on this forum, you will see that there are several that describe the same issues you are having.  I myself have had these issues with my paycheck transactions for many years.  In spite of what some say here, it isn't a recent phenomenon.  My solution was to create a "regular" split transaction for my paychecks.  It accomplishes the same end result as a "create paycheck".  I myself don't see an advantage to using a "create paycheck" except that it is a fancy "wizard" that might make it easier for a first time user to create a paycheck transaction.  If you have a match contribution in your "create paycheck", you would need to then create a transaction in your retirement (401k) account to reflect the match contribution. (The match contribution is not actually part of your paycheck calculation).



    Good points Jim.  The other thing I would like to add is to have the same main category for all the splits.  I have "Salary".  It makes it simpler for using the budget feature in Quicken.
  • Jim_HarmanJim_Harman SuperUser ✭✭✭✭✭
    edited December 2018
    SimonSezSo said:

    Julie, if you search for paycheck issues on this forum, you will see that there are several that describe the same issues you are having.  I myself have had these issues with my paycheck transactions for many years.  In spite of what some say here, it isn't a recent phenomenon.  My solution was to create a "regular" split transaction for my paychecks.  It accomplishes the same end result as a "create paycheck".  I myself don't see an advantage to using a "create paycheck" except that it is a fancy "wizard" that might make it easier for a first time user to create a paycheck transaction.  If you have a match contribution in your "create paycheck", you would need to then create a transaction in your retirement (401k) account to reflect the match contribution. (The match contribution is not actually part of your paycheck calculation).



    How exactly do you set up the company match? When using the paycheck wizard it appears in the 401(k) as a transfer from the main checking account, but there is no corresponding deduction there - it is like an intentionally broken transfer.

    I suppose you could make it a Deposit with the Category _401EmployerContrib
    -- Jim QWin Premier subscription
  • SherlockSherlock SuperUser ✭✭✭✭✭
    edited December 2018
    SimonSezSo said:

    Julie, if you search for paycheck issues on this forum, you will see that there are several that describe the same issues you are having.  I myself have had these issues with my paycheck transactions for many years.  In spite of what some say here, it isn't a recent phenomenon.  My solution was to create a "regular" split transaction for my paychecks.  It accomplishes the same end result as a "create paycheck".  I myself don't see an advantage to using a "create paycheck" except that it is a fancy "wizard" that might make it easier for a first time user to create a paycheck transaction.  If you have a match contribution in your "create paycheck", you would need to then create a transaction in your retirement (401k) account to reflect the match contribution. (The match contribution is not actually part of your paycheck calculation).



    Also note:  There is a special hidden account named Tax Impact of 401(k) Accounts the paycheck uses to maintain the _401Contrib and _401ContribSpouse transactions used in various tax reports and views.
    Quicken user since 1997
    Premier on Windows 10
  • SimonSezSoSimonSezSo Member ✭✭
    edited December 2018
    SimonSezSo said:

    Julie, if you search for paycheck issues on this forum, you will see that there are several that describe the same issues you are having.  I myself have had these issues with my paycheck transactions for many years.  In spite of what some say here, it isn't a recent phenomenon.  My solution was to create a "regular" split transaction for my paychecks.  It accomplishes the same end result as a "create paycheck".  I myself don't see an advantage to using a "create paycheck" except that it is a fancy "wizard" that might make it easier for a first time user to create a paycheck transaction.  If you have a match contribution in your "create paycheck", you would need to then create a transaction in your retirement (401k) account to reflect the match contribution. (The match contribution is not actually part of your paycheck calculation).



    I created a new category "Employer Match" and posted the match transaction directly in my 401(k) account.
  • SimonSezSoSimonSezSo Member ✭✭
    edited December 2018
    SimonSezSo said:

    Julie, if you search for paycheck issues on this forum, you will see that there are several that describe the same issues you are having.  I myself have had these issues with my paycheck transactions for many years.  In spite of what some say here, it isn't a recent phenomenon.  My solution was to create a "regular" split transaction for my paychecks.  It accomplishes the same end result as a "create paycheck".  I myself don't see an advantage to using a "create paycheck" except that it is a fancy "wizard" that might make it easier for a first time user to create a paycheck transaction.  If you have a match contribution in your "create paycheck", you would need to then create a transaction in your retirement (401k) account to reflect the match contribution. (The match contribution is not actually part of your paycheck calculation).



    Sherlock, I never figured out the benefit of that hidden account.  I created "401(k) Deferral" and "Employer Match" and posted contributions directly into my 401(k).  If you noticed, I also removed all transfers from my paycheck split transaction.  Maybe only one or two people in this forum will understand why I did this.
  • JulieJulie Member
    edited December 2018
    SimonSezSo said:

    Julie, if you search for paycheck issues on this forum, you will see that there are several that describe the same issues you are having.  I myself have had these issues with my paycheck transactions for many years.  In spite of what some say here, it isn't a recent phenomenon.  My solution was to create a "regular" split transaction for my paychecks.  It accomplishes the same end result as a "create paycheck".  I myself don't see an advantage to using a "create paycheck" except that it is a fancy "wizard" that might make it easier for a first time user to create a paycheck transaction.  If you have a match contribution in your "create paycheck", you would need to then create a transaction in your retirement (401k) account to reflect the match contribution. (The match contribution is not actually part of your paycheck calculation).



    Thanks everyone! All of this is super helpful. Jim, I did end up deleting those paychecks and re-entering and forced the reconciliation so it all worked out. I’m definitely going to start 2019 using the alternative method.
  • mshigginsmshiggins SuperUser ✭✭✭✭✭
    edited December 2018
    SimonSezSo said:

    Julie, if you search for paycheck issues on this forum, you will see that there are several that describe the same issues you are having.  I myself have had these issues with my paycheck transactions for many years.  In spite of what some say here, it isn't a recent phenomenon.  My solution was to create a "regular" split transaction for my paychecks.  It accomplishes the same end result as a "create paycheck".  I myself don't see an advantage to using a "create paycheck" except that it is a fancy "wizard" that might make it easier for a first time user to create a paycheck transaction.  If you have a match contribution in your "create paycheck", you would need to then create a transaction in your retirement (401k) account to reflect the match contribution. (The match contribution is not actually part of your paycheck calculation).



    From C. D. Bales:

    "If you have a match contribution in your "create paycheck", you would need to then create a transaction in your retirement (401k) account to reflect the match contribution".


    Actually, that is not necessary.


    The user can duplicate what the Quicken paycheck wizard does for employer match transactions using a manually created paycheck split transaction. It takes two split lines: a split line that transfers the amount of the employer match to the 401k account (that has the 401k account name in square brackets in the category field); and a second split line with an offsetting amount, categorized to _401EmployerContrib.


    "I myself don't see an advantage to using a 'create paycheck' except that it is a fancy 'wizard' that might make it easier for a first time user to create a paycheck transaction".


    For additional info on possible benefits of using the Quicken paycheck wizard for those with 401k accounts, see: https://getsatisfaction.com/quickenco...


    [If the user wants to see what their Quicken paycheck wizard generated paycheck transaction looks like as a plain split transaction, they can hold down CTRL+SHIFT while clicking the icon to open the register paycheck transaction.]


    [If the user wants to simplify the process of creating a plain split transaction for their paycheck (assuming they already have recorded a Quicken paycheck wizard paycheck), they can right-click a register paycheck transaction and choose "Add Reminder". If modifications are needed, they can then be made in Manage Bill & Income Reminders.]
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • SimonSezSoSimonSezSo Member ✭✭
    edited December 2018
    SimonSezSo said:

    Julie, if you search for paycheck issues on this forum, you will see that there are several that describe the same issues you are having.  I myself have had these issues with my paycheck transactions for many years.  In spite of what some say here, it isn't a recent phenomenon.  My solution was to create a "regular" split transaction for my paychecks.  It accomplishes the same end result as a "create paycheck".  I myself don't see an advantage to using a "create paycheck" except that it is a fancy "wizard" that might make it easier for a first time user to create a paycheck transaction.  If you have a match contribution in your "create paycheck", you would need to then create a transaction in your retirement (401k) account to reflect the match contribution. (The match contribution is not actually part of your paycheck calculation).



    mshiggins I appreciate your comments, but I have had years of trouble with the paycheck wizard such that it was not worth using.  Using a regular split transaction had worked well for me.  There are certain things in Quicken I have learned to avoid.  The paycheck wizard was one of them.  It seems like other users are having the same issues that I was having.  So it seems to be a buggy feature, that may cause more issues than benefit.
  • Charlie220Charlie220 Member ✭
    edited January 18
    SimonSezSo said:

    Julie, if you search for paycheck issues on this forum, you will see that there are several that describe the same issues you are having.  I myself have had these issues with my paycheck transactions for many years.  In spite of what some say here, it isn't a recent phenomenon.  My solution was to create a "regular" split transaction for my paychecks.  It accomplishes the same end result as a "create paycheck".  I myself don't see an advantage to using a "create paycheck" except that it is a fancy "wizard" that might make it easier for a first time user to create a paycheck transaction.  If you have a match contribution in your "create paycheck", you would need to then create a transaction in your retirement (401k) account to reflect the match contribution. (The match contribution is not actually part of your paycheck calculation).



    I'm a long time user of the paycheck wizard functionality (+ 15 years) and it has never given me any issues until I upgraded to QUICKEN PREMIER 2019.  After deleting and re-entering the paychecks multiple times (and one support call), I am going to try SimonSezSo recommendation to convert to a regular split transaction.
This discussion has been closed.