Using splits (multiple categories) in Recurring Transactions (4 Merged Votes)
Comments
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I would to add my vote that this feature is really needed. My paycheck has many different categories and it is a hassle to have to do the split manually every time a get a paycheck
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For those having regular transactions with split categories like a Paycheck with taxes, health insurance, 401k withholdings/deposits, we need the ability to create a recurring income transaction with the Gross paycheck amount, split categories to track the deductions, then finally the net income after deductions assigned to its own income category.
Furthermore, the income report in Simplifi needs to report the 'net' amount of income actually received after deductions rather than the GROSS amount which it does now. It is the net income amount which is the category spend is calculated to create an accurate set of derivative income vs. expense reports. GROSS income should not be used for this purpose and reported only when specifically asked for as an inclusion on a report for calculating tax % paid and other related ratios.
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Please add this
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I have the same issue. In this case it’s because my car insurance and home insurance come together on the same bill. [removed] allows you to do a split in recurring transactions.
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I have a complex paycheck that breaks out into multiple accounts. My hope is to replace legacy quicken with simplify.
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Each entry in Quicken Simplifi (not Simplify - fi as in finance) should map to each transaction at the bank. So if your paycheck goes to multiple accounts, your bank accounts will each have a transaction, and there should be separate transactions similarly in Simplifi.
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Rob Wilkens0 -
@Coach Natalie per the thread, this feature request was submitted to the product team for review back in 2022. Could you share any updates on this long outstanding request? Thanks!
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Count me in as another one who really wants this feature. My own use case: I have an iPhone that I'm financing with Boost Infinite. I get one bill from Boost, but the bill is for two items: a payment on the phone and service for the phone. Compared to many of the other cases I've read about here, this is a pretty minor nuisance, so I would hope that Quicken is working on the problem.
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I am currently looking at switching from Quicken Classic to Simplifi, and I consider this a critical feature that may keep me from making the switch, particularly if there are no firm plans to implement it.
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Quicken
Please add this feature ASAP. This is a no-brainer for being a must improvement for the software.
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+1 vote. Logged in to leave this comment. Many people with mortgages will pay principal + interest + [escrow] in one outgoing payment. As only mortgage interest is deductible for certain tax categories, splitting and accounting the payments separately are extremely useful features. The Classic version was able to automatically split and categorize into separate parts.
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I can think of many reasons why this is an essential feature. Indeed, I assumed it was available but I was just having trouble finding it! One example is to allow tracking of taxes deducted from paychecks or pensions for folks who may have to supplement that with estimated tax payments. Or deductions for medical insurance to have that for income tax filing. Please add this feature.
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+1 vote
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@Coach Natalie per the thread, this feature request was submitted to the product team for review back in 2022. Could you share any updates on this long outstanding request? Thanks!
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Hello @JayT,
We haven't received any updates yet. If you haven't already done so, please bookmark this thread so you will get updates, when available.
Bookmarking and posting your feedback to this thread may also be helpful:
Thank you!
-Coach Kristina
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I would LOVE the ability to split by percent or by amount. For example I have an insurance bill in my spending plan that does vary a bit from time to time. I think that the transaction should be Auto: 80% and Home: 20% and when the transaction posts, Simplifi would assign into the categories by percent. I lose the exact bill to the penny for the convenience of a hands off simple approach, but this is good enough for my lifestyle and reporting.
Insurance Draft
Category Split By Percent:
Home: 20%
Auto: 80%Quicken for Windows user since 1994 (After MYM for DOS)
Simplifi by Quicken since 20230 -
Many of my recurring transactions (paycheck, insurance, utility, etc.) need to be split into multiple categories and / or tags. If the ability to split an individual transaction is available, then it would be logical that the recurring transaction should be able to do as much. Realizing that there is not always a fixed dollar amount associated with the split (such as taxes or other deductions for a variable paycheck), but still at a minimum allowing for the draft component of the split while allowing the user to modify (as needed) seems like a feature set that should be incorporated into Simplifi. This is where most of my time is spent (splitting transactions), where allowing for a series to have a default split would immensely save time.
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It is frustrating that split transactions have to been done manually. It's a time waster that Quicken did automatically. Why would this be hard? Please add.
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Should be able to have different dates on a split transaction. If I prepay a 6 month subscription, I want to allocate the expense across 6 months. Currently have to add separate transactions which is messy and impacts data integrity. It should all be tied to the same payment.
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@BrandonG, thanks for the feedback!
it sounds like you're actually looking for these requests instead:
I hope this helps get you pointed in the right direction!
-Coach Natalie
-Coach Natalie
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Hi @Coach Natalie - those posts have been open for 4 years. Does Quicken plan on implementing these improvements ever?
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I, too, would like to be able to split categories for recurring income and expense items.
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To be honest, some of these gripes have been brought to Quicken's attention repeatedly for some years now, which to my mind indicates that they do not intend to make the requested modifications. We will likely need to learn to live with them or migrate to another product.
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This discussion would probably not still be open to comments if Simplifi was not considering the idea. But the backlog is huge, and things have to be prioritized. Right now I would imagine the main focus is on a handful of ideas to get as many people from the Mint exodus as possible, and there are features they've indicated are a higher priority, such as rollovers (which is a HUGE bit of engineering complexity), than this one.
Anthony Bopp
Simplifi User Since July 2022Money talks. But all my paycheck ever says is goodbye1 -
Upvote
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I just moved over from Mint and find Simplifi to be so much easier: thankyou!!! — the ONE THING I still need is this topic:
= sett up to automatically split identical regular paychecks/deductions for each deposit
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I would like to see recurring transactions with splits set up. Would be very helpful to be able to categorize AND TAG the splits.
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I would also like to see this.
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I realize I'm a few years behind the curve on this one, and after testing around I think I know the answer, but was this function ever implemented or expected to be implemented down the road?
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