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How to track income when married..

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dglasgo1

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Jan 31, 2005, 8:15:59 PM1/31/05
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Hi! I've been using Quicken for several years. This past year, I got
married, and am now tracking my wife's income/expenses in Quicken as
well, as we have consolidated our finances.

I'm curious how most people use catagories when recording paychecks.
I've been breaking mine down using the standard Quicken catagories
(salary, fed tax, medicare tax, etc) and the appropriate withdrawls for
benefits from the company.

Now when I input hers, do I use the same catagories? Won't that throw
off monthly reports and such, and make for a mess come tax time? Or
will the taxes not matter since we'll be filing jointly anyway?

To make it more interesting, we work for the same company, so the
paychecks come from the same place :)

I'm curious how most couples handle this. Any suggestions or help you
can offer would be greatly appreciated!

Thanks so much!

-Don

dglasgo1

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Jan 31, 2005, 8:27:41 PM1/31/05
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Nevermind.. I'm a total spaz, and totally missed all the nice 'spouse'
catagories it creates. Sorry about that.

Tx anyway!
-Don

Fred Smith

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Jan 31, 2005, 11:23:08 PM1/31/05
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I use classes: Fred, Linda and Joint. So Salary Income becomes Salary
Income/Fred. I can then run reports on each one of us separately by
specifying a class, or all together by not entering a class.

--
Regards,
Fred
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