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Old 07-22-2005, 11:57 AM
Dick Watson
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Default Re: Paycheck direct deposited into 2 accounts

It certainly recapitulates what you want and why you want it, but it doesn't
help me understand what you are seeing as an issue that needs fixed.
Transfer in Money means movement of money that is neither Income
(Wages:Gross Pay) nor Expense (Insurance:Health, Taxes:Federal Income). It
does not necessarily mean you called the bank and said transfer $x from
Account A to Account B. Given this, lots of things in Money end up being
Transfers. Paying a credit card bill is really a Transfer. Withdrawing some
money from the ATM that you spend from a pocket cash account is really a
Transfer. Given this, I'm not sure what you gain by knowing that money made
it into account X because of a Transfer (from a transaction in another
account that just happens to be a Paycheck) and what got there because your
company made two direct deposits. You could put "from the paycheck" in the
note of the transfer split. If it will really work for you, you can always
schedule/enter two separate Paycheck transactions, one of which is called a
"Paycheck" but only has, say, $x on the Wages Tab as Wages:Gross Pay or
similar and the other has all of the stub information but accounts for the
total Wages:Gross Pay - $x instead of the real total for Wages:Gross Pay.

Having had my paycheck direct-deposited to both a checking account and a
savings account for the entire time I've used Money (since 1993) and having
done it the way I described in the first place, I'm at a loss to see the
benefit of doing it the way I just suggested and I do see the complication
that now it's two separate transactions not the one transaction that goes
multiple places. But if it works for you, I'm all for it.

"Jonathan" <Jonathan[at]discussions.microsoft.com> wrote in message
news:39C7D598-A5FA-4F78-90D0-7E13D7B627A1[at]microsoft.com...
- quote -

> A transfer from the Paycheck-Deductions After Taxes tab is currently how I
> am
> handling it. No, it's not what is actually going on. It really is two
> seperate deposits, no transfers, from one paycheck. The reason I'd like to
> work around this is that it is a nuisance when I run reports on the
> account.
> I have to manually differentiate between which transfers were actual
> transfers and which were really deposits from my paycheck. I hope that
> makes
> more sense.



  #1  
Old 07-22-2005, 02:33 AM
Jonathan
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Default Re: Paycheck direct deposited into 2 accounts

A transfer from the Paycheck-Deductions After Taxes tab is currently how I am
handling it. No, it's not what is actually going on. It really is two
seperate deposits, no transfers, from one paycheck. The reason I'd like to
work around this is that it is a nuisance when I run reports on the account.
I have to manually differentiate between which transfers were actual
transfers and which were really deposits from my paycheck. I hope that makes
more sense.

"Dick Watson" wrote:

- quote -

> Deposit the paycheck into one account and, on the after taxes tab, transfer
> the remainder or fixed amount to the other account. It sounds like you are
> close to doing this but are unhappy that it looks like a Transfer in one
> account and a Paycheck in another. I'm not sure why this would be an issue.
> I'd say it's a) what's going on and b) close enough and c) whether it says
> Paycheck or Transfer doesn't make as much difference by a long shot as if
> the amount is correct.
> "Jonathan" <Jonathan[at]discussions.microsoft.com> wrote in message
> news:7AE3B4AE-B1FC-4AA3-B2D2-DD4B6609E960[at]microsoft.com...
> > I have my paychecks direct deposited into two seperate bank accounts. One
> > account always get a fixed amount from the paycheck (eg. $500) and the
> > remainder is put into the other account. Any suggestions for how to best
> > handle this? I'm using Money 2005 if that makes a difference. I currently
> > have it set up to enter the paycheck into the 'remainder' account and then
> > do
> > a transfer of the fixed amount into the other account. While this gets the
> > account balances correct, the account that gets the fixed amount only
> > shows
> > the deposits as a transfer instead of a paycheck being deposited. I'd
> > appreciate any thoughts you may have on this.

 
Old 07-22-2005, 01:29 AM
Dick Watson
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Posts: n/a
Default Re: Paycheck direct deposited into 2 accounts

Deposit the paycheck into one account and, on the after taxes tab, transfer
the remainder or fixed amount to the other account. It sounds like you are
close to doing this but are unhappy that it looks like a Transfer in one
account and a Paycheck in another. I'm not sure why this would be an issue.
I'd say it's a) what's going on and b) close enough and c) whether it says
Paycheck or Transfer doesn't make as much difference by a long shot as if
the amount is correct.

"Jonathan" <Jonathan[at]discussions.microsoft.com> wrote in message
news:7AE3B4AE-B1FC-4AA3-B2D2-DD4B6609E960[at]microsoft.com...
- quote -

> I have my paychecks direct deposited into two seperate bank accounts. One
> account always get a fixed amount from the paycheck (eg. $500) and the
> remainder is put into the other account. Any suggestions for how to best
> handle this? I'm using Money 2005 if that makes a difference. I currently
> have it set up to enter the paycheck into the 'remainder' account and then
> do
> a transfer of the fixed amount into the other account. While this gets the
> account balances correct, the account that gets the fixed amount only
> shows
> the deposits as a transfer instead of a paycheck being deposited. I'd
> appreciate any thoughts you may have on this.



  #-1  
Old 07-21-2005, 11:56 PM
Jonathan
Guest
 
Posts: n/a
Default Paycheck direct deposited into 2 accounts

I have my paychecks direct deposited into two seperate bank accounts. One
account always get a fixed amount from the paycheck (eg. $500) and the
remainder is put into the other account. Any suggestions for how to best
handle this? I'm using Money 2005 if that makes a difference. I currently
have it set up to enter the paycheck into the 'remainder' account and then do
a transfer of the fixed amount into the other account. While this gets the
account balances correct, the account that gets the fixed amount only shows
the deposits as a transfer instead of a paycheck being deposited. I'd
appreciate any thoughts you may have on this.
 

Tags
accounts, deposited, direct, paycheck
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