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Posted by Ross from Orlando on March 2, 2008, 8:29 am
Please log in for more thread options > Ross Payne wrote:
> > I have set up a paycheck transaction in Quicken. All seems to
> > work
> > fine, except that the employer match (SIMPLE IRA) shows up in
> > reports
> > as uncategorized. Both my contribution and the match are shown
> > in
> > reports as transfers from my employer to the SIMPLE IRA
> > account. So
> > something is off here, but I'm not sure how to fix it. Any
> > ideas?
>
> Nothing is wrong. =A0Both your contribution and your employer's
> contribution are, in fact, "transfers" to your IRA. =A0[Odd that
> you did not quibble about "your" contribution showing up as a
> "transfer".]
>
> Because you have neglected to provide the year of your Quicken
> version, I can't tell whether there could be some minor
> difference in the way the transactions appear from my
> observations; but in my experience, Quicken treats paycheck
> "contributions" to retirement accounts correctly. =A0[Many users
> mis-interpret the "categorization" of Quicken retirement account
> contributions.]
>
> The most important place to look is in the Quicken "Tax
> Schedule" report.
>
> --
> John Pollard
> First initial underscore Last name at mchsi dot com
> Please reply to newsgroup
John,
Thanks for your reply. It is Quicken 2006 Premier Home and Business. I
would not have spotted this issue if not for two things. First, when
entering the paycheck I got a pop up warning to the effect that one of
the items was uncategorized. Second, it (the employer match, not my
contribution) shows up in reports as uncategorized income. In the Tax
Schedule Report that you suggested I look at both mine and the
employer contributions show as transfers.
Ross
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