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Subject Author Date
Accounting for a deduction from your deductions? John Oliver 04-05-2008
Posted by John Oliver on April 5, 2008, 6:00 pm
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 I am using Quicken 2008 Deluxe R 6. I just started a new job that gives
me a $50 per month cell phone allowance. This allowance shows up as a
negative item under my deductions, almost like they're actually
withholding that much less than I "owe" for taxes. I cannot find any
way to account for this in Quicken. I've asked for clarification from
my employer. Does anyone else have to deal with a situation like this?

--
* John Oliver http://www.john-oliver.net/ *

--
Posted via a free Usenet account from http://www.teranews.com


Posted by Oilcan on April 5, 2008, 7:41 pm
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 Place it on the income side of the paycheck (assuming you are using the
Paycheck form). It will not matter what category that you offset to.
Otherwise, don't use the Paycheck form and just memorize your paycheck
as a memorized transaction.

Oilcan

-----Original Message-----
From: John Oliver [mailto:joliver@john-oliver.net]
Posted At: Saturday, April 05, 2008 3:01 PM
Posted To: alt.comp.software.financial.quicken
Conversation: Accounting for a deduction from your deductions?
Subject: Accounting for a deduction from your deductions?

I am using Quicken 2008 Deluxe R 6. I just started a new job that gives
me a $50 per month cell phone allowance. This allowance shows up as a
negative item under my deductions, almost like they're actually
withholding that much less than I "owe" for taxes. I cannot find any
way to account for this in Quicken. I've asked for clarification from
my employer. Does anyone else have to deal with a situation like this?

--
* John Oliver http://www.john-oliver.net/ *

--
Posted via a free Usenet account from http://www.teranews.com


Posted by Michael Rosen on April 6, 2008, 8:35 pm
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> I am using Quicken 2008 Deluxe R 6. I just started a new job that gives
> me a $50 per month cell phone allowance. This allowance shows up as a
> negative item under my deductions, almost like they're actually
> withholding that much less than I "owe" for taxes. I cannot find any
> way to account for this in Quicken. I've asked for clarification from
> my employer. Does anyone else have to deal with a situation like this?

My employer does the same. A negative amount under deductions is
simply an addition. But you cannot input a negative deduction in the
paycheck setup in Quicken. Just add it as other earnings up top and
select a category, such as telephone.

Posted by John Pollard on April 6, 2008, 9:38 pm
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Michael Rosen wrote:
> wrote:
>> I am using Quicken 2008 Deluxe R 6. I just started a new job
>> that
>> gives me a $50 per month cell phone allowance. This
>> allowance shows
>> up as a negative item under my deductions, almost like
>> they're
>> actually withholding that much less than I "owe" for taxes.
>> I
>> cannot find any way to account for this in Quicken. I've
>> asked for
>> clarification from my employer. Does anyone else have to
>> deal with
>> a situation like this?

> My employer does the same. A negative amount under deductions
> is
> simply an addition.

> But you cannot input a negative deduction in the
> paycheck setup in Quicken.

But you can have a negative deduction if you create your own
paycheck transaction rather than using the Quicken Paycheck
Wizard.

> Just add it as other earnings up top and
> select a category, such as telephone.

--

John Pollard
First initial underscore Last name at mchsi dot com
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