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Old 05-25-2004, 09:19 PM
Cal Learner-- MVP
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Default Re: Multiple Paychecks?

In microsoft.public.money, Dick Watson wrote:

- quote -

> Money (any version) can't match one $100 transaction downloaded from the
> bank with the combined effect of a $75 transaction entered in Money and a
> $25 transaction entered in Money.


Oops... I was thinking two paychecks on the same download rather
than combined into the same transaction. I agree.

  #1  
Old 05-25-2004, 09:16 PM
Cal Learner-- MVP
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Default Re: Multiple Paychecks?

In microsoft.public.money, Jim wrote:

- quote -

> I'd like to know if Money (any version) can correctly match two paychecks in
> the same deposit if I download the transactions from my bank? I have one
> paycheck that gets deposited weekly, and the other bi-weekly. So twice a
> month there are deposits with multiple paychecks. Currently I'm using
> another financial software, but considering switching to Money. I'd like to
> know if it can handle this before I do. I have no previous experience with
> Microsoft Money.


If you have transactions in the register, Money will try to match
upon download. Sometimes it guesses wrong. You would want to be
alert and click the Change button after downloading and before
accepting the downloaded transaction.

The transactions can be scheduled to be added to the register in
advance of the anticipated paycheck.

http://www.microsoft.com/money/info/trial/faq.asp tells about the
60-day free trial of Deluxe.

 
Old 05-25-2004, 08:20 PM
Dick Watson
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Default Re: Multiple Paychecks?

Money (any version) can't match one $100 transaction downloaded from the
bank with the combined effect of a $75 transaction entered in Money and a
$25 transaction entered in Money.

Since it is a given in Money that one transaction has one Payee, combining
two separate items into one deposit creates a lot more problems for Money
than for your bank. If these two are paychecks, it only gets worse. Trying
to combine two stubs into one Money paycheck transaction would be confusing
at best.

The answer to this was cited in several threads recently, and has been filed
in my FAQ pending file:
---
The category part is easy. You use the split. But the tougher part is if you
want to list all of the payees. A Money transaction allows one Payee, no
matter how many splits. This makes it hard to list ten payees for ten checks
in one split transaction.

Some choices:

1a) Ignore the payees and put them all in one split transaction.
1b) Put the payees in the memo(s) and make the Payee something like
(various).

2) "Deposit" all the checks in separate transactions to some Money account
that is not the real world Bank account. If you have a pocket change
account, for instance, this is a good place to do it. Then do a single
transfer of the total amount to the actual account where these are
deposited.

3) Ignore the fact that you deposited them in one deposit and create
multiple Money transactions. This makes it slightly more difficult to
reconcile vs. the bank statement since you have to remember that all of
these small deposits in Money add up to that large deposit on the statement.

Re. #1, since a Money Paycheck is a special type of split, if one of the
items deposited is a paycheck and you do full accounting in a Paycheck
transaction, adding other checks to this deposits probably causes more
confusion than it is worth. But you could do it. Just add them to the after
tax tab.

#3 causes grief for those who download transaction data.

"Jim" <jimkoh[at]earthlink.net> wrote in message
news:%23RhwKDpQEHA.904[at]TK2MSFTNGP12.phx.gbl...
- quote -

> Hello,
> I'd like to know if Money (any version) can correctly match two paychecks

in
> the same deposit if I download the transactions from my bank? I have one
> paycheck that gets deposited weekly, and the other bi-weekly. So twice a
> month there are deposits with multiple paychecks. Currently I'm using
> another financial software, but considering switching to Money. I'd like

to
> know if it can handle this before I do. I have no previous experience with
> Microsoft Money.
> Thanks
> Jim



  #-1  
Old 05-25-2004, 07:43 PM
Jim
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Posts: n/a
Default Multiple Paychecks?

Hello,
I'd like to know if Money (any version) can correctly match two paychecks in
the same deposit if I download the transactions from my bank? I have one
paycheck that gets deposited weekly, and the other bi-weekly. So twice a
month there are deposits with multiple paychecks. Currently I'm using
another financial software, but considering switching to Money. I'd like to
know if it can handle this before I do. I have no previous experience with
Microsoft Money.
Thanks

Jim


 

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