Linked 401k + Paycheck = Double Entry

I am not sure I am doing things properly. I have a 401k investment account from my employer that I linked up for automatic downloads. At the same time, I have a paycheck entry which details the amount from my paycheck into the 401k account.

The issue is that my balance is double, and I don't see how to create an entry that associates my paycheck entry with what was purchased in the 401k account electronically.

What is the proper method for recording a paycheck into a 401k account and also have the account linked?

Answers

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    If you enter the paycheck transaction in the register first, the transaction downloaded in the 401k account should match the transfer.
  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    Or the paycheck deposit should add cash to the 401K.  Then the 401K download should be a buy using the cash.
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