Paycheck Calculator

Note: To access the Paycheck Calculator setup screen, select File/Config from the ribbon bar and select Paycheck/Calculator from the navigator on the left.

Each prompt for the Paycheck Calculation Setup is discussed briefly below.

Displayed Paychecks

Initial Number of Paychecks Visible when the Calculator is Opened

This determines how many paychecks are initially visible when the Paycheck calculator is opened.

Initial Scenario for the Paycheck Calculator's Second Column

Select either Quick Max or Proposed #1. This will be the paycheck displayed in the second column (just to the right of the "Current" column)

Federal 1040 Analysis Options

Initial Second Paycheck for the Paycheck in the 1040 Calculator

Select the initial active paycheck for the 1040 Analysis calculator. If "Active Paycheck", the active paycheck from the initial paycheck calculator will be focused.

Show Federal 1040 Bracket Calculations and Show Annual Contributions

Check the respective box to display (or hide) the respective data.  Data is displayed on the right side of the window below the Federal 1040 Calculations.


Value to Highlight in Paycheck Charts

In the Paycheck charts, you can select to highlight taxes, retirement plan contributions or nothing.


Default FICA and Medicare Method

Default method can be to display values separately or as a single value.

Default Taxation Display

Withholding taxes can be itemized or only show the total value.

Highlight State Withholding Taxes

This will display the state withholding taxes in bold. Note that this feature is used internally when updating state withholding taxes.


Paycheck Withholding Taxes in Reports

Select how to display the taxes in the report. If Same as User Interface is selected, the reports will be configured the same way as the user interface is configured in the active calculator (either the Paycheck or 1040 Analysis calculator).

Employer Contribution Description in Reports

Allows displaying or hiding the employer contribution to the retirement plan. Three methods are available to select from

Always: Displays a description of the employer contribution even if the employer is not making contributions. (If the employer is not making contributions the message will state, "The employer does not contribute to the retirement plan.").

When Employer Contributes: Only displays a description of the employer contribution if the employer is making contributions.

Never: Never displays contributions in the report.