Do you count yourself as a Payee?

Hey guys! Probably a dumb question but when I'm entering in my paycheck...should I put in myself as a payee or leave it blank. 

What do you guys do?

 

Thanks! 

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  • I just use a payee of "paycheck." When I worked multiple jobs I used the company name as the payee. (The field really should be labeled Payee/Payor.)

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  • I put in the "Payer" rather than the payee for income, otherwise how do I know who it came from?

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  • I use "{Company} Paycheck" to distinguish between wife's pay check and mine.  I don't know that it has ever mattered that put the company name in there, but feels more organized.   I use "Interest Earned" for all bank interest and cash from credit card points.   One rule I use is, all Interest Earned goes to the "Fun" budget, and any money left over after budgeting for next month from paychecks goes to "Emergency Savings".

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  • For me, the issuer of the check or transfer is the name I put in the column "Payee".  You could also note what kind of income (Paycheck, Gift, Dividend etc...) after the name to help visually track what kind of funds received.

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  • I just assume it means payer for income so I use the company it comes from i.e. my clients, the bank (for interest) etc.

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  • The income and expenses report aggregates income and expenses by payee. So put there whatever best suits this purpose. For example, I often get a few hundred dollars for giving a guest lecture at a different university. But AnyState Tech will probably only ask me to speak once, so it’s not important to track AnyState Tech as the payee. However if I rename AnyState Tech and University of NorthernState and OtherCountry University all as payee: “speaking honorarium”  I can pull a report that tells me how much I earned in honoraria this year. This might be relevant for separating main pay from bonus pay, main pay from side hustle pay, for aggregating Aunt Lucy and Great Grandma Pearl as “gifts” or what have you. 

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