Tracking Paycheck Deductions

JoshIAllen

Hey folks, how do you track deductions from your Paycheck like Health Insurance, Dental, Disability, etc. I created recurring monthly "cleared" expenses for these, but I'm curious if anyone has found a better way to track these since they aren't discrete line items in an account I'm linked to.

Flopbot

@JoshIAllen ,

Don’t know if this is the right way, but it has worked well for me so far. Since Simplifi doesn’t yet allow splits within a Recurring Series, I just have multiple Recurring Series set up (Simplifi > Settings > Recurring Series) for each individual deposit.

I gave them slightly different Payee names to help keep everything in order.

• “ACME Corp.” - For the Paycheck proper.
• “ACME Corp (SAV Deposit)” - For all the extra stuff.

********** Added Later **********

I forgot to mention that the ‘ACME Corp.’ Recurring Series uses my ‘Payroll’ category while the ‘ACME Corp.(SAV Deposit)’ Recurring Series uses a different ‘Payroll Withdrawal’ category. Both are income-type categories.

I’m happy to use Simplifi’s preferred way once they implement that Idea Post. Till then, it’s just too time consuming for me to care to do it manually after the Paycheck clears.

Coach Jon

Hello @JoshIAllen,

Thanks for reaching out to the Community! As said, we cannot split transactions within a Recurring Series yet within Quicken Simplifi, however, you can vote for and follow this idea post as it aligns with what you want:

https://community.simplifimoney.com/discussion/98/using-splits-multiple-categories-in-recurring-transactions-4-merged-votes

Additionally, We do have an official way to track Pre-Deposit Paycheck Deductions, which is outlined in this article here: https://help.simplifimoney.com/en/articles/5983781-how-to-track-pre-deposit-paycheck-deductions

Thanks,

Coach Jon