Insurance shared with employer
ianmlewis at gmail.com
Thu Jan 19 18:15:14 EST 2006
Do you ever see the $50 your employer pays? or do they just take the $50
you owe out of your paycheck? I wouldn't report any money you don't ever
see on your pay stub.
If you have a $1000 paycheck but $50 is taken out then I would put $1000
in Income:Salary and $50 in Expense:Insurance:Benefits or wherever.
For example, My paycheck is $2000 (well,,,) but my employer
takes out taxes and the portion of the insurance benefits automatically
and deposits it in my checking account. So in my checking account
register I report $2000 in Income:Salary and deduct the Expenses that are
taken out automatically in a split transaction.
As an alternative you could report the Insurance as another form of income
besides salary or something like that. So $1000 in Income:Salary and $50
in Income:Benefits if you want. But if you never really see that money it
seems silly to report it, because at least for me, it's not income.
Hope I'm making sense,
On Thu, 19 Jan 2006 16:32:58 -0500
Marc Tardif <marc at interunion.ca> wrote:
> My employer shares payment of insurance with employees half and half.
> So, if insurance costs $100, my employer pays $50 and I pay $50. The
> problem is that I'm not sure how to account for these amounts.
> For example, lets say I have a salary of $1000. So, my employer adds $50
> for its portion of the insurance which makes my gross salary look like
> $1050. Then, I am deduced the full amount of the insurance $100 which
> brings me to $950.
> How do I account for my salary and insurance in GnuCash? Should I report
> $1050 as Income:Salary and $100 as Expense:Insurance:Benefits? Shouldn't
> I report $1000 as Income:Salary, $100 as Expense:Insurance:Benefits and
> something else for the $50 insurance paid by my employer?
> Marc Tardif
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IanLewis at member.fsf.org
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