I am trying to figure out how to properly account for 401k earnings when I receive my paycheck that goes into my checking account every two weeks.
For simplicity, let's say
Paycheck = 100
less 401 k = (20)
less company match (5)
Total Deposit = $75 into my checking account
The $25.00 I receive from my 401k gets automatically deposited in my Schwab
account one week later. I am set up for automatic downloads in Schwab, so it
shows up as a deposit.
My question is how do I properly account for it in my checking account? I
used to account for it as a transfer to my 401k account, but now that I'm
doing automatic downloads, the prior method won't work.
- posted 13 years ago