In Budget I input all payments and any entries that are repetitive, with date revised monthly. My primary file is my banking account register-BofA xxxx. Instead of entering them monthly, I have an alternative. Second: I have several payments that are monthly.
)įirst: with 28 day cycles, you will end of with 13 "months", that you will have to address. Now if I can just find a budgeting program with a little flexibility instead of the cookie cutter budget. I know its kinda weird and different but it works for me. I find it much easier to budget paycheck to paycheck in 28 day cycles as I do.so I know that my "requirements" are met and if I skip the night out or something that can go straight to debit reduction. The remainder of my paycheck goes into the other for day to day. But for me there was /is a problem with the monthly vs bi-weekly because of just that so I switched it up a few years ago to have on checking receive a portion of my direct deposit equal to recurring bills +10%(a buffer to build up to 3 to 6 months of bills expenses). Try and keep it simple.Total get what your saying and I did that for years. A budget allows you to lay those out so that you know that is possible.Īnd why do you need two budgets anyway? One budget can show you everything you want to know. You have to "store" money for when you need it, for what you need. That is why you have a checking/savings account. You have to budget so that your paycheck lasts the month. Your bills will not magically line up with your paycheck. Even though one could easily setup a yearly budget by just putting the budget numbers for the year in January.Īnd frankly people that try to budget using their paycheck period doesn't make any sense. You can't create budgets on some arbitrary amount of days. Try and keep it simple.Note you can create multiple budgets in Quicken.īut you can't do some of the things you are trying to do.įor instance the budget views do not allow filtering by account. (except for accounts marked "Keep Separate from my Net Worth").Īnd why do you need two budgets anyway? One budget can show you everything you want to know. Even if you have two or three paychecks coming into your budget, it doesn't take long to set this up once a year.Ī budget is for everything you have, all accounts, all transactions, etc. It'll take just a minute, and then you're set for a year. So my suggestion is to let Quicken calculate its incorrect monthly amount (dividing total salary by 12), and then just manually fix it: enter your correct pay amount for a month with two periods and copy it to all months, then manually change the two months int he year when you will get the third paycheck (which is easy to figure out by skimming a calendar). (My wife's larger employer does this.) (If you can't tell by now, I deal with payroll at my company, and have wrestled with the problems of bi-weekly pay over the years!) The odds of Quicken programming in all these ways individuals' paychecks may be handled just seems unlikely to me. (This is what my small company does.) And some companies adjust the number of work days/year every year, which avoids the "leap pay year" but results in employee salaries going up or down from year to year depending on the number of work days/year. (They're foolish they are paying employees more than their true annual salary by doing so - but I know companies that do this.) Some companies skip a week in those "leap pay years" to keep to only 26 pay periods, each paying 1/26th of annual pay per pay period. Some companies simply have an extra pay period every 11 years. Biweekly pay covers 364 days in a year (26 pay periods x 14 days = 364), and there are different approaches companies use to deal with the extra 1 day every year and extra 2 days every leap year. But it gets way more complicated for us bi-weekly pay people. Some people get paid twice a month (bimonthly) to eliminate the two moths a year you and I get a third paycheck, so Quicken would need a bi-monthly pay option in addition to biweekly. You describe my situation: payroll every two weeks (biweekly). [mention://4286004 [mention://4286004 I think the complexity of different payroll approaches makes it unlikely Quicken will try to offer the wide variety of options it would need to in order to match paychecks.
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