Help understanding Split transactions concepts.

TTSguy

Can someone help me understand category lines in a split transaction.

1. net pay $899.44
2. Fed Tax Withholding $200.00
3. State Tax withholding $48.00

How is this supposed to look in the Split transaction? I want to be able to use those split transactions to be able to report and see net and gross pay in a report. See my snapshot-

Split snip.png

Rocket J Squirrel

Line 1 should be gross pay. Lines 2 & 3 should be negative numbers to represent the withholdings. The net is the sum of the 3 split lines and that's what gets deposited into your account.

volvogirl

And you probably have other deductions like Social Security, Medicare or FICA. And heath ins or 401K, etc.

Rocket J Squirrel

Line 1 should be gross pay. Lines 2 & 3 should be negative numbers to represent the withholdings. The net is the sum of the 3 split lines and that's what gets deposited into your account.

volvogirl

And you probably have other deductions like Social Security, Medicare or FICA. And heath ins or 401K, etc.