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Old 09-14-2005, 04:05 AM
Dick Watson
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Default Re: 401(k) Employer contirubtion : Q. regarding FAQ entry

Wages & Salary:Employer Contribution would be fine. The secret is to set the
tax line assignments appropriately. What you call it for cat:subcat is
whatever works for you.

"H Gohel" <gohel[at]babbage.csee.usf.eduXXX> wrote in message
news:%23l0wKyNuFHA.3548[at]tk2msftngp13.phx.gbl...
- quote -

> I'm using Money 2004 Deluxe, and "Gross Pay" isn't a category, but "Wages
> & Salary" is. I know I can add a new category & subcategory, but I'm
> wondering if I should add "Wages & Salary:Employer Contribution" and
> categorize it as an "Employer Matching"? Or is the UFAQ implying that I
> should create a new category called Gross Pay to avoid putting it into the
> same category as Wages & Salary?



  #-1  
Old 09-14-2005, 03:29 AM
H Gohel
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Default 401(k) Employer contirubtion : Q. regarding FAQ entry

My company:

(a) matches a portion of my 401(k) contributions, and
(b) makes a fixed contribution every quarter.

For (a) I plan to use the M04 provided "Wages & Salary:Employer
matching" category and enter the amount from my paycheck.

I'm trying to figure out how to handle (b), which does now show up on
the paycheck, but only the 401(k) custodian's quarterly statements.

The UFAQ <http://umpmfaq.info/faqdb.php?q=14> says, "Use an income
category setup to be excluded from tax reports like "Gross Pay:Employer
Matching," so these funds aren't factored in to tax reports and Tax
Planner calculations."

I'm using Money 2004 Deluxe, and "Gross Pay" isn't a category, but
"Wages & Salary" is. I know I can add a new category & subcategory, but
I'm wondering if I should add "Wages & Salary:Employer Contribution" and
categorize it as an "Employer Matching"? Or is the UFAQ implying that I
should create a new category called Gross Pay to avoid putting it into
the same category as Wages & Salary?

Thanks

--
Himanshu
 

Tags
401k, contirubtion, employer, entry, faq
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