Be sure to enable Advanced Register for all accounts. There is a setting
somewhere in the jungle that is now Tools|Settings.

As noted by others, once in Advanced Register, there is a "Special Category"
that enables you to Transfer money between accounts. This is a very useful
category.

As to your paycheck, the "best practices" way to categorize the deposit is
to categorize everything else and then what's left, the net pay, is the
balance of the transaction and is what's deposited. The "Paycheck"
transaction enables you to do just that. Read in Help or look in the Sample
data file to get some hints as to what a Paycheck can look like. The typical
way to do the "pay goes to two or more accounts" trick is to include one or
more transfers--again, the Transfer is your friend--on the After Taxes tab
of the Paycheck that transfer portions of the paycheck to other accounts.
You enter the Paycheck in the account that gets the bulk of the money and
the transfers tap off things like savings to their respective accounts.

The reason to schedule a Paycheck via Bills|New|Paycheck is to capture all
of the information once and so that Money can use this to project things
like cash flow and taxes vs. withholding. Having the Paycheck scheduled
enables all of these things. The fact that the paycheck is direct deposited
doesn't change the need to enter it as a transaction in Money. If you
download transaction data, hopefully Money will see the downloaded amount
and match it up with the scheduled deposit. Where this gets tricky is cases
like where Money downloads the "deposit" into, say, the savings account that
gets a small portion of the paycheck (the bank's data can't tell Money that
this is really what Money knows as a Transfer from the scheduled Paycheck).
Another case this gets trick is for changes from paycheck to paycheck, say
different tax amounts due to rounding or a little overtime and its
associated wages and taxes. For these reasons, it will generally be less
trouble to enter the paycheck by hand, cross checking each of the paycheck
components between the pay and the transaction you are entering before
downloading any of the data.

When Money can download all of my paycheck data, and get it entered the way
I'd enter it, is the day I'll start downloading transaction data.

"Mike" <Mike[at]discussions.microsoft.com> wrote in message
news:2436229B-D9DE-440D-985A-30C9B6AB9BE3[at]microsoft.com...
- quote -

If you use the "Special: Transfer <accountname> " category as opposed to
an "Expense" category, it should do exactly what you want. The assets
will appear in one account as a Payment and the other as a Deposit.

If you mean that you have your paycheck directly deposited into the
actual account (as opposed to the account in Money), you should still
setup your paycheck in the Bills section for cashflow forcasting, etc.
When you download (assuming you do) the transactions, Money will match
the scheduled transaction with the downloaded transaction.

Create a test file and play around with setting up your paycheck.
Whether you want to track net pay or gross pay with the various
deductions is up to you...your decision will determine how to
categorize.

"Mike" <Mike[at]discussions.microsoft.com> wrote in message
news:2436229B-D9DE-440D-985A-30C9B6AB9BE3[at]microsoft.com...
- quote -

Those are simply separate accounts, in Money. Your bank may call them 'sub'
accounts, but what that simply means is they're related.

- quote -

Use the special 'Transfer:' category.

- quote -

The initial deposit to your primary savings account is all that concerns
your paycheck. The later transfer is unrelated and is simply a transfer.

Are you using Simple or Advanced register?
--
Chris Cowles
Gainesville, FL

I am new to Money 2006 deluxe and just installed it yesterday. I was
succesful in getting my banking information synchronized with Money. However,
I am a bit confused by two things.

1) I have 5 sub accounts all under the same account number at my bank. One
is checking, one is primary savings, the others are simply savings accounts
with different sub account numbers. I tend to transfer money from one account
to the next. For instanace if I need to make a large payment by check then I
would transfer money from one of the other 4 accounts into my checking
account.

My question is what should these transacations be categorized as in both
accounts. It seems to me this would be considered a transfer but Money wants
to treat it as an expense.

2) I have my pay check directly deposited into my primary savings account. I
then have part of this money automatically transferred to another sub account.

- What should the initial depoist be categorized as, Net Pay?
- What should the transfer be categorized as for both accounts, still Net Pay?
- Since I have direct deposit do I still need to setup my paycheck
information via Bills> New> Paycheck??

Thanks