It would be nice if you can add a split transaction to a series. This helps when you get paid commission and want to split the commission from the base. Any suggestions on what people are doing for that?
@drcolace, thanks for posting to the Community!
I have converted this to a discussion so we can do some educating, as splits in recurring are already a feature in Quicken Simplifi. The steps to do so can be found here: https://support.simplifi.quicken.com/en/articles/3625912-managing-recurring-transactions#h_a5c8a977df
Or, if you're on the mobile app, the steps are available here under "Split Recurring Transactions": https://support.simplifi.quicken.com/en/articles/3597876-managing-recurring-transactions-on-the-mobile-app
Let us know if this helps you accomplish your goal!
Above reply.
I am a little confused on how this works. I have my income coming in weekly and on the 4th friday of each month I get commission. My regular income is setup as a recurring series for income. That transaction on the 4th friday is bigger than that recurring series, due to the commission. I have another recurring series that happens on the 4th friday with an average commission amount (it will vary, which is fine, but wanted to make a series). The transaction comes through as one transaction. How do I split that one transaction into my normal weekly series and a portion of it to my 4th friday income series for the extra in commission on that payday?
Just deep dived. I don't think it can do what I am trying to get it to do. Yes, I can split within a series of where those splits go into a category, but I can't split a transaction to assign it to two different series. One transaction comes in for salary and if you have commission, you can't tie a portion of it to a regular salary series and a portion of it to the once a month commission series. One transaction (though the category in it can be split) cannot go to multiple series.
Thank you for the follow-up,
To clarify, you'd like to be able to link a split transaction to multiple different reminders? If that is what you're trying to do, that functionality is not currently available, but there is an Idea post requesting it:
If it is something you'd like to see added, please add your vote and a comment! Ideas that get enough votes may be implemented in the future!
Thank you!
You are correct that you cannot split a transaction into two different series. And I don't think there is a way to do exactly what you want completely automatically. (I'm assuming you want the commission series so that you can get a better view of what your income will be in future months.)
It is possible, though, to get pretty much the same result like this:
(1) Have one series that occurs every Friday with a split categorized as regular income and a split categorized as commission. Set the regular income to what you expect. The commission will be zero. (You don't actually have to have the commission split in the series if you don't want to. You can just split the 5th Friday transaction when it comes in.)
(2) Have a second series that occurs only on the 4th Friday with the estimated commission amount.
Most weeks you will just check the weekly transaction to make sure the regular income is correct.
On the 4th Friday you will check and correct the split amounts in the weekly transaction and delete the reminder for the commission transaction (because the commission will be in the other transaction).
This would make your predicted income for future weeks fairly accurate, but the price you pay would be having to fiddle with the transactions.
(This would be a lot easier if Simplifi allowed you to specify the 1st, 2nd, 3rd, and 5th Fridays, but you can only do 1st, 2nd, 3rd, and Last Fridays. Five Fridays happen 4-5 times a year, I think, so it would be a headache.)
I am pretty sure that this is the requested idea:
Just a thought, but if your paycheck is fairly consistent each week (or better yet the same), couldn't you use the "commission" category for the overflow? If you use the same income category for the commission, then you would already be using that one for the overflow?
You could just use a simple once a month reminder for the commission so your planned income looked right, and then dismiss it once your paycheck comes in so it isn't counted twice.
