Entering transaction from monthly annuity

ktpmm5 · November 22

I am trying to record a monthly pension I receive from a former employer

that is deposited into my checking account. As seen in the pic I have the pre-built tax category Gross Annuity followed by the monthly deductions. The last amount is a category I added, Net Annuity, which is obviously my gross annuity minus the deductions. However, after I enter the Net Annuity amount, a new line is displayed with the amount in red that later shows up as an Uncategorized transaction. What am I doing incorrectly?

splasher · November 22

Your entering the "Net Annuity" split line is causing the extra line.

You can't have both a "Net Annuity" line and still have the bottom line of the transaction be the amount that is deposited into the account.

If you were to keep the "Net Annuity" line and then click on the "Adjust" button at the bottom, you would find that the transaction would zero out since you have accounted for every cent of Gross.

Since you have entered the amount of the actual transaction into the transaction prior to doing the split, Quicken is just making sure with the uncategorized split line that the math is correct.

volvogirl · November 22

You don’t enter a line for the Net Annuity. That is the deposit amount you are splitting out. You enter the gross total amount as income and enter the deductions as expenses. That should equal the checking deposit.

splasher · November 22

Your entering the "Net Annuity" split line is causing the extra line.

You can't have both a "Net Annuity" line and still have the bottom line of the transaction be the amount that is deposited into the account.

If you were to keep the "Net Annuity" line and then click on the "Adjust" button at the bottom, you would find that the transaction would zero out since you have accounted for every cent of Gross.

Since you have entered the amount of the actual transaction into the transaction prior to doing the split, Quicken is just making sure with the uncategorized split line that the math is correct.

Q97 · November 22

From the screenshot, the deductions appear to be positive (since their digits are black). They should be negative

splasher · November 22

https://community.quicken.com/discussion/comment/20523757#Comment_20523757

Good catch, I missed that completely.

volvogirl · November 22

You don’t enter a line for the Net Annuity. That is the deposit amount you are splitting out. You enter the gross total amount as income and enter the deductions as expenses. That should equal the checking deposit.

ktpmm5 · November 24

I was afraid that was going to be the answer. I will try and figure out how to produce a report with my Net Annuity calculated on the fly. I appreciate the responses

splasher · November 24

If you do the split correctly, "+" for the Gross and "-" for the deductions, the Net Annuity is the amount of the deposit.

You could run a report for just that account and payee. As is, it will just show the amount of the deposits (Net Annuity), if you want to see more, you can have the report show the splits and the bottom line of the report will still show the total of the deposits (Net Annuity), but also all the "ins" (Gross) and "outs" (Deductions).

Now, if your definition of "Net Annuity" is not the amount of the deposit, explain what you want to include in "Net Annuity" and maybe someone will have an idea on how to achieve that goal.

Entering transaction from monthly annuity

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