| Author |
Message |
L'l John
Guest
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 Posted:
Thu Dec 16, 2004 5:55 am Post subject:
Social Security & Medicare payment deductions |
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Using Money '04.
I need advice on keeping up with Social Security pension received where the
Medicare insurance is deducted from total payment.
When I download the deposit from the bank it just lists the total amount
deposited, which is the amount due less the deduction for Medicare
insurance.
I would like to keep up with the total S.S. amount received and then record
the amount paid for the insurance.
How should this be handled?
Thanks,
John
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Dick Watson
Guest
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| Posted:
Thu Dec 16, 2004 6:53 am Post subject:
Re: Social Security & Medicare payment deductions |
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Edit the downloaded transactions into a split. In the splits, change the
amount for the income category to the total. Add a second line for an
Insurance:Medicare Premium (or similar) expense. This will be entered as a
negative number. The net should still match the download.
This is just another example of where downloaded transaction data can only
get you so far.
"L'l John" <je_norrisnospam@hotmail.com> wrote in message
news:eAdC5nw4EHA.3876@TK2MSFTNGP10.phx.gbl...
| Quote: | Using Money '04.
I need advice on keeping up with Social Security pension received where
the Medicare insurance is deducted from total payment.
When I download the deposit from the bank it just lists the total amount
deposited, which is the amount due less the deduction for Medicare
insurance.
I would like to keep up with the total S.S. amount received and then
record the amount paid for the insurance.
How should this be handled?
Thanks,
John
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SJCOHEN730
Guest
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| Posted:
Thu Dec 16, 2004 7:26 am Post subject:
Re: Social Security & Medicare payment deductions |
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| Quote: | Subject: Social Security & Medicare payment deductions
From: "L'l John" je_norrisnospam@hotmail.com
Date: 12/15/2004 7:55 PM Eastern Standard Time
Message-id: <eAdC5nw4EHA.3876@TK2MSFTNGP10.phx.gbl
Using Money '04.
I need advice on keeping up with Social Security pension received where the
Medicare insurance is deducted from total payment.
When I download the deposit from the bank it just lists the total amount
deposited, which is the amount due less the deduction for Medicare
insurance.
I would like to keep up with the total S.S. amount received and then record
the amount paid for the insurance.
How should this be handled?
Thanks,
John
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John, if you did this manually like I do you could use the paycheck form for
social security deposits. But since you download, I would agree that Dick's
suggestion also works. Steve
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L'l John
Guest
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| Posted:
Thu Dec 16, 2004 8:18 am Post subject:
Re: Social Security & Medicare payment deductions |
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"SJCOHEN730" <sjcohen730@aol.com> wrote in message
news:20041215212625.07592.00002323@mb-m01.aol.com...
| Quote: | Subject: Social Security & Medicare payment deductions
From: "L'l John" je_norrisnospam@hotmail.com
Date: 12/15/2004 7:55 PM Eastern Standard Time
Message-id: <eAdC5nw4EHA.3876@TK2MSFTNGP10.phx.gbl
Using Money '04.
I need advice on keeping up with Social Security pension received where
the
Medicare insurance is deducted from total payment.
When I download the deposit from the bank it just lists the total amount
deposited, which is the amount due less the deduction for Medicare
insurance.
I would like to keep up with the total S.S. amount received and then
record
the amount paid for the insurance.
How should this be handled?
Thanks,
John
John, if you did this manually like I do you could use the paycheck form
for
social security deposits. But since you download, I would agree that
Dick's
suggestion also works. Steve
|
Thanks Dick & SJCOHEN730,
I don't mind using the manual entry method. I can just delete the downloaded
transaction when I receive my bank updates.
I have set up a recurring deposit using the split transaction to help remind
me to enter it.
Thanks again,
John |
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