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Accounting for payroll deductions

I just started using Mint and was able to tag my payroll deposits as income.  I was wondering if there is a way to actually enter in my full payroll check information to capture all deductions.  It would be really helpful to be able to see Net Income, Taxes, Pre-Tax deductions (401k, health insurance etc.) and after tax deductions.  I get a discount allowing my car insurance to be taken out of my paychecks.  I am not sure how to account for that in Mint as that money is taken out before the payroll deposits into my account.

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1 Best answer
4 Replies
Anonymous
Not applicable

Accounting for payroll deductions

You can categorize your entire paycheck with deductions.

 

You'll need to use a split transaction and enter the splits manually.  

 

1 Categorize your GROSS pay and amount as the first split item.

2 Categorize each deduction and amount, making sure you use a minus sign in front of the amount.

3 Repeat for each deduction.

4 Your NET amount should show at the top of the split amount.  That's the amount that should have been downloaded when deposited from your bank.

 

You'll see separate transactions for each split line in the Mint register.  You can tag each individual split, if you like.  I have tags set up for tax schedules and tax line items.  You can use multiple tags per transaction line.  

 

80sharonc
New Member

Accounting for payroll deductions

I have entered my first payroll check for the year as a split transaction so each item shows up separately .ie payroll taxes are separate from gross wages, etc.  Is there a way to copy the split information to my next payroll check or do I have to enter the split manually each time?

Anonymous
Not applicable

Accounting for payroll deductions

Curious whether you figured out a way to copy the payroll split month to month automatically? Thanks!

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