Create CSV import file with split transaction
B Kaiser
I need to import paycheck data that has numerous splits for each paycheck. For example Gross Pay,Net Pay, Taxes Withheld, 401K, etc.
So far, I have not found any information on what the CSV file should look like. Single transactions are straight forward, but a transaction with multiple splits is not so easy to find documentation.
Any help (maybe a sample file) would be greatly appreciated!
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Support Staff 1 Posted by Ethan on Jan 01, 2023 @ 11:35 PM
Hello,
In general this data wouldn't be in an imported file. Bank data is generally just single transactions, where one receives one lump sum paycheck, pays one total amount to the grocery store, etc. It's then up to the user to create those splits in one's accounting program like Moneydance, making splits for the paycheck details, breaking down how much was spent in each grocery category, etc. I'd recommend that be the approach you take for your paychecks, importing them as is from your bank, and then modifying them using the split function in the category field.
This is an older but still accurate article on how to create paycheck splits in Moneydance: https://infinitekind.tenderapp.com/kb/archive-entering-transactions...
If I'm not understanding your question, could you explain in more detail what you are trying to do, or why you are wanting to make these changes in a CSV instead of the program itself?
Ethan
Infinite Kind Support
2 Posted by B Kaiser on Jan 02, 2023 @ 03:58 AM
Thanks for the response Ethan. I need to record the details of payroll transactions including all the deductions. Furthermore, I update my data on a quarterly basis. So, with 2 of us working, each of us getting 2 checks per month with eight to 10 splits each check would be lots of manual data entry. I quit using Quicken and switched to MD after many many years and use data imports to to populate my MD database. I am a CPA and the detail is important when I prepare my taxes. Not only that, but I am trying to make life easy on myself and manual data entry of bulk transactions is subject to more errors.
There is a similar need for mortgage payments where I need to record principal, interest, property taxes, insurance, etc as a split transaction.
Expense items like groceries, gas, etc are not a problem. I import those without issue. I have Excel spreadsheets where I calculate the detail for paychecks, mortgages, etc and export the data to CSV files. Ideally, I would simply import these CSV files.
3 Posted by dwg on Jan 02, 2023 @ 04:33 AM
As institutions can not provide split transaction data as they have no knowledge of them you do not see that sort of support in CSV, OFX and similar file types. However as QIF was designed as a support tool for unloading and loading of transactions into a financial program (Quicken) this format does support splits. If you have an Excel spreadsheet n the correct format then there are plug ins for Excel that will export a suitable QIF file.
System closed this discussion on Apr 03, 2023 @ 04:40 AM.