Help understanding Split transactions concepts.
Can someone help me understand category lines in a split transaction.
- net pay $899.44
- Fed Tax Withholding $200.00
- 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-
Best Answers
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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.
Quicken user since version 2 for DOS, now using QWin Biz & Personal Subscription (US) on Win10 Pro.
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And you probably have other deductions like Social Security, Medicare or FICA. And heath ins or 401K, etc.
I'm staying on Quicken 2013 Premier for Windows.
0
Answers
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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.
Quicken user since version 2 for DOS, now using QWin Biz & Personal Subscription (US) on Win10 Pro.
0 -
And you probably have other deductions like Social Security, Medicare or FICA. And heath ins or 401K, etc.
I'm staying on Quicken 2013 Premier for Windows.
0