Negative payslip


R

Roland Appleby

Was wondering if there's a better way to handle payslips with a
negative amount than what I'm doing at the moment.

What I'm doing is setting the category of the payment to payslip and
entering the payslip details but with all the positive values as
negative and vice-versa. I'm doing this because it warns that a
withdrawal is being classified as income otherwise.

Am using Money 2003.
 
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R

Rob

Roland said:
Was wondering if there's a better way to handle payslips with a
negative amount than what I'm doing at the moment.

What I'm doing is setting the category of the payment to payslip and
entering the payslip details but with all the positive values as
negative and vice-versa. I'm doing this because it warns that a
withdrawal is being classified as income otherwise.

Am using Money 2003.
Not sure if I've missed the point. Surely if you do that you make the
account balance wrong by twice the absolute value of the payment? It could
also mess up any reports you run later.

I generally find it best to ignore this warning (unless I have made a
mistake) - and have a "withdrawal" under an income as this is really what
you have, -ve income.

I do a similar thing for "job expenses - reimbursed" and so enter the
reimbursment as a deposit under an expese category. Reimbursement is not
income but a sort of loan repayment. The result is that the current total
for the category shows how much I am currently owed.

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G

Glyn Simpson, MVP

If you're paying someone, then I don't see why you can't do it this way,
ignoring the warning - sounds like a good way to me
 
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R

Roland Appleby

I made a bit of a mistake in my original post - I actually have to
enter all the values in the payslip as negative amounts for it to
produce the correct result and get the warnings anyway. Otherwise, it
seems to end up as a deposit for double the negative amount (i.e. a
credit for twice as much as the debit it ought to be). I'm not sure
why this is as it doesn't make much sense to me. If I look at the
categories (gross pay, income tax, etc.) it appears to show the
information as it's supposed to be, so pay is shown as positive and
tax negative. I guess that means the budget stuff isn't adversely
affected.

Thanks - Roland
 

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