How to Set up a Paycheck in Quicken?

In the paycheck, most of the information that you need for tax planning are available. With the Quicken paycheck setup wizards, you can easily enter the income and deductions listed on your paycheck. You need to perform only one-time setup and after that you can simply enter single transaction to perform further task. You can also split your paycheck deposit into several categories according to your preference. To take the benefit, first you need to setup a paycheck in Quicken. For this, you can visit www.quicken.com/support or continue reading this blog to know more about paycheck in Quicken.

Here are the steps to set up a paycheck in Quicken just have a look at them:

·        On the way to set up a new paycheck, tap on the Planning tab and if Tax Center button isn't already open then click to open it. Click Add Paycheck and then enter the information that Quicken requests.

·        To make some changes in all future paychecks of a paycheck that you've already set up, simply select Tools menu, open Manage Bill & Income Reminders, and find the paycheck in the list and after that right-click on the paycheck name and simply select Edit.

·        If you just want to make a one-time change into a single paycheck, then you should manage the paycheck in the register.

After adding a new paycheck to Quicken, it displays the paycheck setup wizard. Now, know some more interesting things about this paycheck in Quicken. 

You can control how much of your paycheck you want to track. Are you thinking about how much tax planning you want to do in Quicken? If so, then read out the below points to control it.

·        Select Net amount: You don’t want to use tax planning feature of Quicken plus simply want to track your income and expenses. In this case, you just only need to see create a bill or income reminder.

·        Choose Gross amount: In this, you can easily make use of tax planner or can effortlessly create tax reports or import Quicken data into turbo tax.

For doing this, you need to identify this paycheck according to:

Whether this paycheck is yours or your spouse's as mostly Quicken uses this information to conclude which tax categories to use.

Company Name: By writing company name, you can differentiate your paycheck from other paychecks that you may have setup in to the same data file.

These are just some of the functions, which can help you to make your Paycheck experience enjoyable. You can also take Quicken Chat support team help to its detailed features at your door-step.