Tracking the Paycheck Split

How to track paycheck split. In my case, I am transferring (direct deposit) a part of my paycheck directly to a savings account and the remaining money to my checking account.

I would like to know, how to track this transaction ? I would like to consider this amount as a part of my actual earnings and then track this portion as Savings.

Paycheck Split1 → Savings Account → $250
Paycheck Split2 → Checking Account → $1500

In the transactions, we will only see +250 and I have tagged it as Income for now, so how can I factor this amount as a part of my savings goal ?


I would recommend continuing to categorize both transactions as income. You can then budget $250 towards an expense-type category of your choosing e.g. General Savings. This works conceptually because savings are, simply put, budgeted expenses that have no actual transactions yet (Budget - Actual = Savings). :slight_smile: If you are using the Savings Budget sheet, which I highly recommend, you can allow unspent (or overspent) budgeted categories to accumulate from month to month.