Net pay
Take-home pay — the amount left from gross wages after all withholdings are subtracted: federal and state income tax, Social Security and Medicare (FICA), and voluntary deductions like health insurance and retirement contributions. It is the number that actually lands in your account on payday, and the figure a paycheck-split or payroll allocation divides among your accounts. Because deductions can change, net pay can vary from one pay period to the next even when the hourly rate or salary does not.
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How to split your paycheck across multiple accounts
To split your paycheck across multiple bank accounts, ask payroll to set up split direct deposit and tell them how to divide each check — by a fixed dollar amount, a percentage, or a remainder account that catches what is left. It puts savings on autopilot, dividing the money before it reaches your spending account.
Direct deposit allocation across multiple accounts
Direct deposit allocation is the set of rules payroll follows to divide one employee's net pay across multiple bank accounts. Each account has a method — flat amount, percentage, or balance (remainder) — and a priority that sets the order payroll funds them, with one balance account receiving whatever net pay is left.