Making a split income transaction into a recurring transacton

SRC54
SRC54 Member ✭✭✭
Hi,

Concerning the support article: http://help.simplifimoney.com/en/articles/5983781-how-to-track-pre-deposit-paycheck-deductions

I tried it out but it was a no go for me for the following reasons:

1) Apparently, it still applies to just the top split, which is income so splits are still not supported.  It merely shows the net income in the Spending Plan, but I need the gross income shown in the Spending Plan as I use this to determine my church tithe each month.

2) I can handle this better with just recurring income and expenses, then at the end of the month I can enter my split deposit and just skip the recurring income and expenses for that month and start a new spending plan.

3) I still cannot enter a transfer for the retirement plan since the Spending Plan considers that to be spending.  So I have to do a separate transaction into the Retirement Account.  That means splitting the income between two transactions, ie, I split off the few hundred dollars from income in transaction one and then I do that amount as an income transaction into the Retirement Account.

I wish we could reply to announcements.  Also, I have done so much trial and error with this deleting recurring transactions and actual transactions that when I tried to create a new one using the support article, Simplifi resurrected my ghost recurring transactions instead.  




Steve
Simplifi since 11/2021
Quicken since 2009
Microsoft Money 1991-2009

Best Answer

Answers

  • SRC54
    SRC54 Member ✭✭✭
    edited February 21
    @Coach Natalie
    Sorry this was posted as a question instead of a discussion, but you have clarified some things for me, which I appreciate.  

    So it seems that I can see the gross income if I look over to the other side and ignore the amount on the left that subtracts bills and subscriptions.  Sorry for my confusion.

    Here is my current solution.

    Part I. I have a reminder for the amount of my salary that is put into my Retirement. This correctly shows as a transfer and doesn't count as an expense.

    Part II. I add a pending transaction for the last day of the month for the remainder of the salary subtracting federal, state, social security and medicare taxes as well as my health plan.  I find that everything is counted correctly as income and expenses (those these are shown in Other Spending, which is where they showed up once I entered the actual transaction anyhow.  And the future pending transaction even ends up in the queue of reminders.  I like that.

    I will add my votes, if I haven't already done so, to ignoring parts of transactions as well as allowing splits in reminders.

    I will have more to say about how I would like to see the Spending Plan work, but I needed to understand how it works now first.  I am getting closer to understanding it now.  Thanks.




    Steve
    Simplifi since 11/2021
    Quicken since 2009
    Microsoft Money 1991-2009
This discussion has been closed.