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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Art McClinton wrote:

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
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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
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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.

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