nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Paycheck deductions calculated across different payments

AFNY

Hello, how do I add the total pay period deductions from my paycheck if the final net pay is divided into different accounts? I.E. let's say gross pay is 10k, dedications/insurance/taxes/etc are 4k, the net pay is 6k and it goes into a checking account for 3k and the rest 3k to a saving account. Where do I enter the 4k deductions?

Find more posts tagged with

Comments

jacobs

So you have your employer split your net pay into two separate deposit transactions?

I would enter the transaction in your checking account as a $3,000 deposit, with the first split being your personal income category for $10,000, then splits for various withholdings, and then a split for a $3,000 transfer to the savings account (e.g. Category="Transfer:[savings account name]").

Jon

@AFNY What @jacobs describes is how I used to handle my paychecks, which at times I had divided across as many as three accounts (checking, savings & IRA). I always put the main transaction into checking since that's where the majority of my net pay went. In your case since it's split 50/50 you could put it in either checking or savings; I'd recommend you put it in which ever account you use as your primary spending account, which I would assume is checking.

Ps56k2

is this all dependent upon the employer physically doing the split -

vs somehow doing it within Quicken

Jon

@Ps56k2 I assume we're talking about making the Quicken transaction match the split that's being done by the employer. If you need to move money around yourself those would be separate transactions.