How do I define the payee in the case of an income transaction?

perkin-warbeck

I'm brand new to Simplifi, so this is a real newbie question. I receive three pension checks each month from three different sources: X, Y, and Z. These are all automatically deposited into my checking account. In the transaction Account field, I select my checking account. In the Category field, I select Pension, which is an Income category. But what should I put in the Payee field? The payee is the recipient, which is my checking account. Should I simply interpret "Payee" as "Payor" and enter X, Y, or Z?

Coach Natalie

Hello @perkin-warbeck,

Thanks for posting your inquiry to the Community!

I personally put the person or entity paying me as the Payee for income transactions. If my husband sends me money, I use his name for the Payee; when I get paid from work, I use "Payroll Income", or you can also use the name of your company.

Other users may have additional advice for you, but I hope this helps!

-Coach Natalie

perkin-warbeck

Thanks, that's what I have been doing. It would be less confusing if the field was labeled "Payee/Payor" (or "Payee/Payer").

Coach Natalie

Hello @perkin-warbeck,

Glad to help!

For the "Payee" field being relabeled to "Payee/Payor", you can create an Idea post to request this change so other users can vote on it and our Product Team can review it. 🙂

https://community.simplifimoney.com/discussion/998/creating-and-voting-for-ideas-in-the-community

-Coach Natalie