On 1/28/2018 8:11 PM, Matt Graham wrote:
........ When you look at what liabilities really are, Adrien and I
concluded on this thread that this situation (segmenting money for
future) is really using a separate asset account. After all - creating
a liability INCREASES your cash available. .......
Yes, the problem precisely, we aren't assigning the same meaning to
"available" and "liability"
But your example of what you would like to see:
Template transactions (I'd probably call them "Triggerred transactions", but it
doesn'tmatter) sound awesome. As someone else highlighted, there are implementation
difficulties to consider, but I dont think that it would be too onerous.
In terms of spending from another account but recording against a sub-account,
its easy:
Dr Exp whatever account
Cr Cash I pay for something awesome
Dr Parent account the amount I paid
Cr sub-account the amount I paid
SPECIAL CASE of a GENERAL requirement. The special case might be easy to
implement BUT in general the amounts are NOT going to be the same.
This is actually a fairly common situation for me, say one of the organizations
SELLS a tee shirt (fundraising, but tee shirts might also be being given away
to volunteers).
Db Cash
Cr Sales
Db Cost of goods sold
Cr Tee shirt inventory
<< the shirts might be being sold for $20 but cost the organization $7 >>
Or, and though this is common with our restricted funds (not exactly matching) I will give
an example precisely for your situation. You socked away into this reserve $100/mo toward
the annual renewal of your car insurance based on your ESTIMATE of what that annual bill
will be. But when the bill arrives it is for $1150 or $1250. In both cases you pay the bill
and release the restriction, yes? << in one case, you had more in the fund than
needed but it still can be released to general purposes, in the other you used all of the
fund AND had to add some general funds >>
Michael D Novack
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