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: snipped-for-privacy@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