<topic sku="core" tNum="226456" author="" xmlns="x-schema:hhTopicSchema.xml"><index><title>Schedule, enter, and itemize a paycheck deposit</title><category>bills</category><klink type="prcdr">How do I schedule, enter, and itemize a paycheck deposit?</klink></index>
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<tease>Why?</tease>
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<p>You can maintain an accurate cash flow forecast by scheduling your future itemized paycheck deposits on the <emph>Manage scheduled bills and deposits</emph> page. Later, when you receive your paycheck, you can enter the deposit in your account register. You can choose to track net pay only, or you can track your gross pay and itemize your paycheck. Itemizing your paycheck will help Money track your taxes and some of your investments, such as your pretax retirement deductions.</p>
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<ol>
<li>Make sure you have your paycheck information handy.</li>
<li>Click <emph>New</emph>, and then click <emph>Paycheck</emph>.</li>
<li>Choose to track taxes and other deductions, or net pay only.</li>
<ul>
<li>If you choose to track taxes and other deductions, click <emph>Next</emph>.</li>
<li>If you choose to track net pay only, click <emph>Finish</emph>, and <emph>skip to step 12</emph>.</li>
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<li>Follow the instructions to enter details about contributions to retirement and savings accounts.</li>
<li>Click the <emph>Wages</emph> tab, and then enter the gross amount shown on your pay stub in the <emph>Amount</emph> column.</li>
<li>Click the <emph>Deductions Before Taxes</emph> tab. Verify that any pretax deductions (such as contributions to a 401(k) or health insurance) you entered in the Wizard appear here. If they don't, or you need to enter another, you can enter them here. Enter the categories as you go. If you've set up your 401(k) in Money, click the category field, click the down arrow, and scroll to the bottom to the <emph>Special</emph> section to find it.</li>
<li>Click the <emph>Taxes</emph> tab, and then enter the amounts deducted from your paycheck (such as Federal Income Tax and Social Security). You can find most tax categories already set up in Money by clicking in the <emph>Category</emph> field, clicking the down arrow, and then scrolling to <emph>Taxes</emph>.</li>
<li>Click the <emph>Deductions After Taxes</emph> tab. Verify that any contributions to savings accounts you entered earlier appear here. If they don't, or you need to enter another, you can enter them here. Enter the categories as you go. To make a transfer, click the category field, click the down arrow, and then scroll down to the <emph>Special</emph> section and click <emph>Transfer: (the account to which you'll make the transfer)</emph>.</li>
<li>Review the totals in the table to make sure everything matches your paycheck stub. Be sure to enter all deductions as positive numbers.</li>
<p> If the sum of the deductions plus your wages does not equal your gross pay, there will be an amount labeled <emph>Unassigned</emph>. Double-check your pay stub and recheck the numbers you entered until the <emph>Unassigned</emph> amount equals zero.</p>
<li>Click <emph>Done</emph>.</li>
<li>Enter the information in the remaining boxes, including the name of your employer, the account in which you will deposit your paycheck, and your paycheck frequency.</li>
<p>Be sure to enter the net amount of your paycheck (the amount your paycheck is made out for after taxes and deductions have been taken out) in the <emph>Amount</emph> box, and enter the date of your next paycheck in the <emph>Next payment date</emph> box.</p>
<li>Select the <emph>Automatically enter transaction into my register</emph> check box if you want Money to enter your paychecks automatically.</li>
<li>If you know when these paychecks will stop, select the <emph>This series will end at some point in time</emph> check box, and then enter the number of paychecks remaining or the date of your final check. </li>
<li>Click <emph>OK</emph>.</li>
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<tease>What if I already entered my paycheck in the account register?</tease>
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<p>In the account register, right-click the paycheck deposit, and then click <emph>Add to Bills & Deposits</emph>. Then follow the instructions on the screen to fill in the scheduling information.</p>
