Memo error in Paycheck function

"David Arnstein" wrote

I use Quicken Premiere subscription, always updated.

I just noticed an issue with the paycheck function. In Quicken, I configured my paycheck to include a pre-tax deduction named Employee Contribution Transfer. This is a cash transfer to my 401(k) account.

So far, so good. But in the register for the 401(k) account, the memo field of the transfer transaction is always "Employer Match Contribution". If I try to change this, Quicken complains and eventually tells me to go to the transfer account and make modifications there.

This might just be a cosmetic annoyance, but I am concerned that Quicken is really classifying this transfer as an employer contribution.

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What is the amount of the "Employer Match Contribution"? [I'm guessing zero.]

I don't think the text of the memo field is an error. Quicken has always put "Employer Match Contribution" in the employer match contribution transfer memo field.

I think the error is that recent releases of Quicken have been entering an employer match transfer transaction in the 401k account (with an amount of $0.00) when there is no employer match intended.

Until Quicken fixes the problem, here is a workaround:

My employer has never contributed to my 401(k) account. Hence, I have not programmed any such contribution or match in my Quicken paycheck. I only have an employee contribution programmed.

To reiterate. In my Quicken paycheck, I have programmed a non-zero amount as my employee contribution. In my Quicken register for 401(k) account, this contribution appears with the memo field "Employer Match Contribution". The dollar amount in both instances is the same.

My employer has never contributed to my 401(k) account. Hence, I have not programmed any such contribution or match in my Quicken paycheck. I only have an employee contribution programmed.

To reiterate. In my Quicken paycheck, I have programmed a non-zero amount as my employee contribution. In my Quicken register for 401(k) account, this contribution appears with the memo field "Employer Match Contribution". The dollar amount in both instances is the same.

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Your comments indicate that you did not bother reading my post in its entirety, or reading the link I provided.

Guilty as charged your honor.

I finally read the link you provided. However I could not get Quicken to respond to Ctrl+shift+s. I assume that I failed to locate the correct context for this keystroke chord.

I found the "Employer Match Contribution" entry, and it is $0.00 as you stated. I am unable to delete it though.

I've had better weeks for sure.

The correct context is the paycheck transaction: open the register, left-click on the paycheck transaction, press Ctrl + Shift + S