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Income for W2 Earners

JagPres2

The Simplifi system regularly categorizes all inbound payments as income. This throws off the other monthly plans including bills, spending, and savings. As a W2 earner, the same recurring bi-weekly payment is received, with an annual bonus, year after year. Simplifi is unable to recognize that other inbound payments are not income but rather refunds or reimbursements. Currently every refund from airlines, Amazon, and ATMs, is treated the same as a bi-weekly direct deposit. Dividends and interest are normally tagged correctly. It would be great to see Simplifi offer a setting for W2 earners that by default only includes bi-weekly salary as income, with the allowance for an annual bonus or manual inputs if other money is received.

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Bills & Income

Comments

RobWilk

You can use rules to categorize the incoming payments if you know what they are. I believe "Personal Income" is the default income category. Still, for example, if you get credit card rewards as a cash back deposit, you can set up a transaction rule that takes those and puts them in your own (even custom) category. Keep in mind, not every user has the same categories; some have totally erased the default categories and come up with their own system that works for them.

-Rob