how to split social security income?

[Buddha Buck]

I'm not sure I understand.  I guess our ways of thinking how splits work
and how to enter data differ drastically.

It doesn't matter "where you start".  When you hit the "split" button, you
can add splits to the transaction in any order.  You can even delete the
split that's part of the current account.  Of course, if you do that, when
you save the transaction, it won't show up in the current account (but it
will show up in all the accounts involved in the split transaction).

In this particular case, I would probably start the transaction from the
checking account, since one way of thinking about it is that it's my
paycheck I'm depositing.  However, if I had my salary split between
multiple bank accounts, it might make sense to start from the Income:Salary
account.  But if I happen to be looking at the balance on my FSA when I
realize I haven't put in my latest paycheck, I might start the split there.
 Wherever is currently convenient.


On Fri, Apr 5, 2013 at 7:26 PM, Paula Hendricks <paula at ph-webnet.com> wrote:

> ok, so where do you start? at the income account? and then do a split?
> same with witholding? you start at the income and not the checking account?
>
> how could i be doing this so wrong for so long... heheh....
>
> thank you all so much.
>
>         ph
>
>
>
> On Apr 5, 2013, at 12:49 PM, Buddha Buck wrote:
>
> >
> > On Fri, Apr 5, 2013 at 3:09 PM, Paula Hendricks <paula at ph-webnet.com>
> wrote:
> > wow. i'm probably doing this all wrong then. i put the full amount (in
> your example $1800) in my checking as a deposit and then allocate to
> income/ ss ($1700) and med/ ins ($100)....
> >
> > i always start with my checking account... it seems to work... but it's
> different than what was suggested. hunh.
> >
> > So you are getting a check/direct deposit for the full $1800?  I would
> expect Income/SS to be an income account, and Med/Ins to be an expense
> account, and you can't really add the two sensibly.
> >
> > I analogize the situation to my own paycheck.  Each week, the
> Hypothetical Me receives $1000 in gross salary.  That's my income, and gets
> credited to my "Income:Salary" account.  It doesn't all go into my checking
> account, however.  $120 goes to Federal tax withholding, which I debit
> against Expenses:Taxes:Federal, $80 goes to FICA, which I debit against
> Expenses:Taxes:FICA, $30 goes to my healthcare FSA, which I debit against
> Liabilities:FSA, $60 goes to State tax withholding, which I debit against
> Expenses:Taxes:State, and, finally, there's $710 Net, which I debit against
> Assets:Checking.
> >
> > I do the whole thing as one big split transaction (and, because I'm
> salaried, I can even do it as an SX), and I only put into each account what
> goes into each account.
>
>
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