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From: Art McClinton on 7 Jan 2010 19:33
I apologize if this has been discussed before but I am a new Quicken user,
but very knowledgeable Money user. I decided to switch from using my
manually created scheduled transaction and set up the pay check transaction
as a new scheduled transaction in Quicken. My employer's retirement does not
seem to match the model used by Quicken (or at least I can not figure out
how to implement using the Quicken Paycheck scheduling algorithm).

We have both a 401A and 403B plans which are funded by 4 separate deductions
(2 of these are matched). I found as soon as I entered the first and the
associated match, that I was not allowed to enter any additional retirement
account information. I then considered that perhaps I could sum the
deductions and matches but found that I could then not direct them to the
appropriate account. It appears that I can only continue my previous large
manually entered split scheduled transaction. Is their some way to actually
enter this using the tool?

Thanks

Art McClinton

From: John Pollard on 7 Jan 2010 21:04
Art McClinton wrote:
> I apologize if this has been discussed before but I am a new Quicken
> user, but very knowledgeable Money user. I decided to switch from
> using my manually created scheduled transaction and set up the pay
> check transaction as a new scheduled transaction in Quicken. My
> employer's retirement does not seem to match the model used by
> Quicken (or at least I can not figure out how to implement using the
> Quicken Paycheck scheduling algorithm).
> We have both a 401A and 403B plans which are funded by 4 separate
> deductions (2 of these are matched). I found as soon as I entered the
> first and the associated match, that I was not allowed to enter any
> additional retirement account information. I then considered that
> perhaps I could sum the deductions and matches but found that I could
> then not direct them to the appropriate account. It appears that I
> can only continue my previous large manually entered split scheduled
> transaction. Is their some way to actually enter this using the tool?

It's not clear why you are trying to change.

Personally, I can't think of one; I'd stick with what is working.

[Quicken paycheck wizard transactions don't allow what you have found they
don't allow. There might be a somewhat clumsy workaround, but why
bother?]

--

John Pollard
news://<YOUR-NNTP-NEWSERVER-HERE>/alt.comp.software.financial.quicken
Your source of user-to-user Quicken help


From: Oilcan on 7 Jan 2010 23:13
You can only have one "401(k), 403(b)..."line. If you receive a Company
Match you will need this. However the design of the Paycheck Wizard
only allows for a company match on this line - even if in your 401(k) if
not funded by Pre-Tax dollars.

I have currently have three lines and have had up to four in the past.
The trick is to use the "Other Pre-Tax Deduction" or "Other After-Tax
Deductions". When you select those, the description can be changed to
whatever you want.

So in the past, I had the following:

Pre-Tax Deductions

Before Tax Basic (relabeled from "Employee Contribution Transfer" from
selecting "401(k), 403(b)...") This line has a secondary entry of the
Employer Match.

Before Tax Supplemental (relabeled from Other Pre-Tax Deduction"

After-Tax Deduction

After Tax Basic (relabeled from "Other After-Tax Deduction")
After Tax Supplemental (relabeled from "Other After-Tax Deduction")

Basically I make these descriptions match the wording on my paycheck.
You can control the mapping of the account. When I look at the 401(K)
Account (I my case all of these book to the same account) I end up with
five line items.

For the second match, you might want to try something like this category
_401(k)EmployerContribution (which for many people is an unused category
as an Earning) and add a second Deposit Account (for example "Company X
403(b)"). The key here is you "add more Earning" to the paycheck so it
need to offset it by going to your Investment Account as a Deposit.

BTW, I assume that the 401(k) and 403(b) accounts are kept separate in
Quicken.

I was able to do the above, but I have looked at it from a reporting
standpoint.

YMMV....

Oilcan

-----Original Message-----
From: Art McClinton [mailto:Art.McClinton(a)cox.net]
Posted At: Thursday, January 07, 2010 4:33 PM
Posted To: alt.comp.software.financial.quicken
Conversation: Setting up a complex Paycheck in Quicken
Subject: Setting up a complex Paycheck in Quicken

I apologize if this has been discussed before but I am a new Quicken
user,
but very knowledgeable Money user. I decided to switch from using my
manually created scheduled transaction and set up the pay check
transaction
as a new scheduled transaction in Quicken. My employer's retirement does
not
seem to match the model used by Quicken (or at least I can not figure
out
how to implement using the Quicken Paycheck scheduling algorithm).

We have both a 401A and 403B plans which are funded by 4 separate
deductions
(2 of these are matched). I found as soon as I entered the first and the

associated match, that I was not allowed to enter any additional
retirement
account information. I then considered that perhaps I could sum the
deductions and matches but found that I could then not direct them to
the
appropriate account. It appears that I can only continue my previous
large
manually entered split scheduled transaction. Is their some way to
actually
enter this using the tool?

Thanks

Art McClinton

From: Art McClinton on 8 Jan 2010 18:25
Thanks for the response. I agree with John that the easiest way to do it is
to continue with what I am doing. Yes, I do have separate accounts for the
401A (not K) and the 403B. The issue however gets tricky in that one of the
company matches goes into the 401A while all of my funds go into the 403B.

I only tried it as I thought it would be an opportunity to clean up what I
had manually set up in Money 10+ years ago. I however decided that why
change something that is working.
"Oilcan" <oilcan(a)nospam.net> wrote in message
news:E1C8F2D3172942A8B2AF7E6301E0D64D(a)AnthonyPC...
> You can only have one "401(k), 403(b)..."line. If you receive a Company
> Match you will need this. However the design of the Paycheck Wizard
> only allows for a company match on this line - even if in your 401(k) if
> not funded by Pre-Tax dollars.
>
> I have currently have three lines and have had up to four in the past.
> The trick is to use the "Other Pre-Tax Deduction" or "Other After-Tax
> Deductions". When you select those, the description can be changed to
> whatever you want.
>
> So in the past, I had the following:
>
> Pre-Tax Deductions
>
> Before Tax Basic (relabeled from "Employee Contribution Transfer" from
> selecting "401(k), 403(b)...") This line has a secondary entry of the
> Employer Match.
>
> Before Tax Supplemental (relabeled from Other Pre-Tax Deduction"
>
> After-Tax Deduction
>
> After Tax Basic (relabeled from "Other After-Tax Deduction")
> After Tax Supplemental (relabeled from "Other After-Tax Deduction")
>
> Basically I make these descriptions match the wording on my paycheck.
> You can control the mapping of the account. When I look at the 401(K)
> Account (I my case all of these book to the same account) I end up with
> five line items.
>
> For the second match, you might want to try something like this category
> _401(k)EmployerContribution (which for many people is an unused category
> as an Earning) and add a second Deposit Account (for example "Company X
> 403(b)"). The key here is you "add more Earning" to the paycheck so it
> need to offset it by going to your Investment Account as a Deposit.
>
> BTW, I assume that the 401(k) and 403(b) accounts are kept separate in
> Quicken.
>
> I was able to do the above, but I have looked at it from a reporting
> standpoint.
>
> YMMV....
>
> Oilcan
>
> -----Original Message-----
> From: Art McClinton [mailto:Art.McClinton(a)cox.net]
> Posted At: Thursday, January 07, 2010 4:33 PM
> Posted To: alt.comp.software.financial.quicken
> Conversation: Setting up a complex Paycheck in Quicken
> Subject: Setting up a complex Paycheck in Quicken
>
> I apologize if this has been discussed before but I am a new Quicken
> user,
> but very knowledgeable Money user. I decided to switch from using my
> manually created scheduled transaction and set up the pay check
> transaction
> as a new scheduled transaction in Quicken. My employer's retirement does
> not
> seem to match the model used by Quicken (or at least I can not figure
> out
> how to implement using the Quicken Paycheck scheduling algorithm).
>
> We have both a 401A and 403B plans which are funded by 4 separate
> deductions
> (2 of these are matched). I found as soon as I entered the first and the
>
> associated match, that I was not allowed to enter any additional
> retirement
> account information. I then considered that perhaps I could sum the
> deductions and matches but found that I could then not direct them to
> the
> appropriate account. It appears that I can only continue my previous
> large
> manually entered split scheduled transaction. Is their some way to
> actually
> enter this using the tool?
>
> Thanks
>
> Art McClinton
>

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