Monthly deduction on a Bi Weekly paycheck

Not without two, independent paychecks (as you described), that I'm aware of.

It's generally not too bad to edit each paycheck. In your case, it sounds like it will affect your tax w/holding, too.

"Mr.Jan" wrote

You don't say specifically what you don't like about this approach.

I just like the automatic approach. Put it in and forget about it. One of the many things I like about Quicken.

It appears you should be able create two scheduled paycheck transactions ... then forget them, just as easily as you can forget one.

The only issue I see is that twice during the year the OP will have 3 pay checks in a single month. I assume that is what he meant by setting up "2 alternating paychecks every 4 weeks is not a 100% solution". Thus twice a year he will need to edit the entries to reverse which is the first paycheck of the month.

Art McClinton

"AMcC" wrote

Fair enough.

But that is worse than which "100%" alternative?

Your correct about my "less than 100%" comment.

I just recorded the paycheck and it appears the vendor is actually taking $100 of each paycheck instead of the $200 from the first check alone. This is easy and it will be interesting to see what happens when I have 3 checks in a month.

This was more of an intellectial exercise than a real need. Updating the posting once a month is no big deal had I been forced to do it that way. Thanks

"Mr.Jan" wrote

Someone emailed me about this subject; they were concerned that Quicken would not permit more than one scheduled paycheck to have the same payee (company).

For that person and any others thinking the same thing: this is a common misconception, which Quicken does nothing to prevent.

At the first point in the paycheck setup dialog where the user is asked for the "company" (payee), Quicken will refuse to accept the name of an existing paycheck payee.

But that is the only time that Quicken will enforce that condition. While you must give Quicken a unique paycheck payee name at that point, later in the paycheck setup process (and anytime after the paycheck has been created), the paycheck payee can be changed to be the same as any other Quicken paycheck payee.

HEY. That is good. It is one of the reasons I did not want to have 2 different sets of transactions. Thanks

Hi, John.

Good advice, as always, but...one little nitpick. (You know me. )

The person - or company - who writes the check is the payor. The payee would be Mr. Jan.

RC

-- R. C. White, CPA San Marcos, TX (Retired. No longer licensed to practice public accounting.) snipped-for-privacy@grandecom.net Microsoft Windows MVP (2002-2010) (Using Quicken Deluxe 2011 R 8 and Windows Live Mail in Win7 x64)

"Mr.Jan" wrote

Someone emailed me about this subject; they were concerned that Quicken would not permit more than one scheduled paycheck to have the same payee (company).

For that person and any others thinking the same thing: this is a common misconception, which Quicken does nothing to prevent.

At the first point in the paycheck setup dialog where the user is asked for the "company" (payee), Quicken will refuse to accept the name of an existing paycheck payee.

But that is the only time that Quicken will enforce that condition. While you must give Quicken a unique paycheck payee name at that point, later in the paycheck setup process (and anytime after the paycheck has been created), the paycheck payee can be changed to be the same as any other Quicken paycheck payee.