Income Categories
Gabriel
I would like to categorize my different types of income using unique names such as interest income, dividend income, capital gains, wife’s salary, husband salary, Social Security income, other income, miscellaneous income, etc.
O
Olivia
Merged in a post:
Way to track interest/dividends separately from paycheck
A
Amber
It would be really nice to be able to see not just my total income, but my interest and dividends separate from my paycheck
O
Olivia
Merged in a post:
One time income (bonuses, commissions, etc)
J
Jay
I’ve not really seen this in action yet but was wondering how one time bonuses are handled. My annual bonus comes as a separate paycheck and I’d rather not track it as regular income. Similarly, tax refunds and other one time pay events could be handled in similar manner b
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Sarah
Merged in a post:
Income Tracking
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William
An important part of understanding your budget is knowing how much you are working with. I’d like to be able to enter how much gross income I make, what percentages are going to taxes, 401k, etc. (if applicable) down the the amount of money that will come into my account each month. Similar to expense rules, I’d also like to be able to denote what times of the month it would be in my account. In my opinion, budgets are only effective if they total to or are less than expected income.
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Sarah
Merged in a post:
Split Income Transactions
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David
Direct deposits usually include multiple categories: tax payments, retirement contributions, insurance payments, loan payments etc. would be good to be able to categorize them
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Sarah
Merged in a post:
Track non-salary income (RSUs, ESPP, 401k)
D
Doron
Would be great to be able to calculate income that doesn’t show up in bank account directly.
RSUs get deposited into a brokerage each quarter. Would be awesome if I could know how much that is contributing to income (amortized monthly over the quarter even better!).
401k and ESPP gets taken out of the paycheck and makes it seem like my income is lower than it is when it’s not accounted for. Would be great to track that.
Also sometimes income will be directly deposited into an investment account (e.g. a 401k match from employer or a sign up bonus from a bank).
Would be amazing if copilot could handle this!
S
Sarah
Merged in a post:
Paycheck gross to net breakdown
J
Jay
I would like to be able to track my paycheck stub, starting from gross pay and accounting for my various taxes, benefits (pre and post tax) and other itemization. That way I can see things like ytd OASDI, federal withholding, etc. this would be similar to Quicken’s splitting feature.
Gabriel
Hey y'all! Just a quick note on reimbursements: an option for dealing with them is to mark them as not income (and thus they won't appear in the dashboard as such), and categorize them together with the expense you are getting reimbursed for, so the app offsets them. Since working expenses / reimbursements are usually not considered a part of your monthly budget, you can use an excluded category for that, like the "Work expenses" category your account starts with by default (which automatically captures some common reimbursement platforms like Abacus and Expensify).