I've got Microsoft Money Deluxe 2006 and I've been spending the last few
weeks inputting all of our financial data for the last year (all of 2005).
For the most part I'm done and I'm really liking Money alot. I have been
having some problems but those other problems will be the topic of another,
later post. For now, I'm hoping I can get some help with properly setting
up my paycheck's split transaction data and my associated 401k account.
For each paycheck, I'm contributing 12% into my 401k and my employer is
matching up to 3%. I have my paycheck set up with each line item --
federal, state taxes, etc, along with my pre and post tax deductions. If I
do not include my employer's matching line item then everything balances
out. My gross pay less taxes less pretax deductions less post tax
deductions equals my net pay. If I try to add in my employer matching in
there anywhere, it completely skews the numbers. Is it possible for me to
add my employer matching value anywhere? If so, where?
An associated question: for the line item for my 401k deduction, I have it
set up so that it counts it as a transfer to my 401k account (which I set up
as a seperate account in money). So that for each paycheck, I see an
associated transaction in the "Cash Transactions" view in my 401k account.
So unless I should set that line item up as something else (and I may very
well should as that is actually what my 3rd question below about), that's
all well and good but (assuming I didn't do something wrong) what I'm trying
to do is make it so that my employer's matching is added also. Is this not
something I'm going to be able to do?
My final question is this: In setting up all of the stocks in my 401k, I
went to the website of the company who is handling our 401k (Paychex).
Since the statements I get are only quarterly and since it doesn't detail
all of fund's purchases (date, price, etc), I figure I could just start off
with a single buy transaction using the date, number of stocks and vested
balances that are detailed on my online statement. This is all well and
good. It's showing totals matching the values those on the website. Here
is where things get sticky (and not only for now but also for the future).
If I go to the account summary view for my 401k account, it's showing not
only the total values for the stocks in the fund but also the total of the
contributions I made throughout last year. This is what makes me think I
did something wrong setting up my pacheck such that it automatically credits
my 401k as a 'cash contribution'. Did I, in fact, set my paycheck up wrong?
If not, how can I tell it that my cash contributions went into puchasing
shares in the stocks in my 401k fund? So that my account balances with the
totals I'm seeing on the paychex website?
I hope I articulated my problems and questions adequately. Any help you
guys can provide would be most appreciated!
thnx,
Christoph