All Collections
Managing Your Transactions
How to Track Pre-Deposit Paycheck Deductions
How to Track Pre-Deposit Paycheck Deductions

Learn how to track your pre-deposit paycheck deductions in Quicken Simplifi

Natalie avatar
Written by Natalie
Updated over a week ago

Overview

If you're looking to keep track of all of your pre-deposit paycheck deductions, such as Federal and State Taxes, Social Security Tax, health insurance deductions, etc., then look no further!

Instructions

At this time, the best way to track your pre-deposit paycheck deductions in Quicken Simplifi would be to split the transactions accordingly. When splitting the transaction, you'll want to use the net amount of your paycheck as the Total, and then assign the primary split using an Income Category such as "Paycheck" and enter the gross amount of your paycheck here as a positive number.

From here, you'll want to add as many split lines as needed, categorize each of the lines accordingly, and then enter the amount of each deduction according to your paystub. Ultimately, the final total should even out to be the net amount of your paycheck.

Note: Please see our Support Article here for more details on using splits in Quicken Simplifi.

How Does This Look in the Spending Plan?

When tracking your pre-deposit paycheck deductions this way, it may look confusing in the Spending Plan, as the Paycheck Income will still display as though it's only counting the net amount, but all of the deductions will appear in the Other Spending section, making it seem like the deductions are being counted against the net amount of your paycheck instead of the gross amount.

No need to fear, however, as the Total amount for the Income section will be updated to reflect the gross amount of your paycheck so that the deductions appearing in the Other Spending section will even out, ultimately leaving you with the net amount of your paycheck being counted in the Spending Plan, and an accurate "available" total.

Please be sure to contact our Support Team if you have any questions or concerns about tracking pre-deposit paycheck deductions in Quicken Simplifi!

Did this answer your question?