thanks for everyones responses... the way i see it ... there is 1 transaction that left the bank -- that is split among buckets... and i got money back in my hand on that transaction... the bank did not - so the bank did not report it - therefore i don't want to put another line in 'pretending' it was deposited... it wasnt... i also dont want to 'change' the original transaction amount - i agree - that's set in stone... i simply wanted to rearrange the bucket allotment on that transaction to show - "hey i didnt spend 57.75 on RV stuff" (as this wasn't clothes - it was bins for the RV cargo hold that didn't fit :) )... because at year end we like to see what we spend on certain categories that are not a steady monthly amount. so ... here's what i am going to do -- and it goes against my other principal - but i am less bothered by breaking that one.. normally i keep cash back i get 'in hand' (wallet) - as both my spouse and myself always have a small amount 40.00 or so for that odd situation when a merchant doesn't take debit, credit etc (like when we had a freak snowstorm - needed gas - and the merchant would only take cash, because their satellite to head office was down and they couldn't process cards at all). i also keep 20 or so in each vehicle for emerg (gas, parking whatever... ) anyways if i have a bit more its not biggie - because across the year its less than a 100 counted misc... (i go back and change a wd bucket if i know what i spent the last atm wd on). so i simply put that 57.75 this time towards garden stuff (i spent it ! :) ) rather than keeping it for emergency cash. (i should explain we live 40 min from our bank - so cash back is a good thing...saves me a 30 min trip to the atm) :)
i wasn't asking how to handle the transaction and i should have been more clear :) - i was asking what bucket cash goes in -- since i have learned checking 'cash' checkmark doesn't work for me (i have 4 cash accounts that i use for savings tracking - so it seems moneywell doesn't know what to do with checkmarked cash in splits). thanks everyone. ml On Mar 21, 10:09 am, The Watkinson Family <[email protected]> wrote: > I think that you may have misunderstood... > > Creating the deposit transaction as Kevin suggested isn't a fake > transaction. You said that your original purchase was on the debit > card. I'll assume that you spent $200 on the 10th of the months and > were eventually credited back $57.75 on the 12th. > > When you receive your bank statement, or you see your statement on- > line, you should see a charge for $200 on the 10th. > > Even if the store credited the money back to your credit card, this > original transaction wouldn't change. You would have a credit on the > 12th for $57.75 (this credit you should assign to your clothing bucket > which will reduce the amount MoneyWell shows you spent for clothing). > > In the example above (which is a little different from yours), you > wouldn't go back and change the original transaction to $142.75. > While the net change in your account is the same, that $142.75 > wouldn't match any receipts that you have, and it wouldn't match any > bank records. Instead, you should have two transactions. One on the > 10th for $200 and one on the 12th for ($57.75), both assigned to the > clothing bucket. > > In the same way, since you actually received the $57.75 in cash, you > would still have two transactions, it's just that the second one is > credited to your cash account rather the checking/debit account (but > both are assigned to your clothing bucket). While you could go back > and edit the original transaction, and make a split from the $200 into > two $142.25 for clothing and $57.75 transfered to cash, this could > make life complicated. For one thing, you don't have any receipts > that show $142.75. Instead, you have a receipt for the first > transaction of $200, and a second receipt for the second transaction > of $57.75. > > A second reason your approach could get complicated is because it > doesn't work consistently. Consider the situation where you tend to > return things a lot. It's much more complicated to go back and > continually edit the original transactions. Instead, you would want > to actually show how the money came in to your hands--as a credit back > from the store a few days later from the clothing that you returned. > > A third reason would be if you waited a long time after your original > transaction to return the item. In this scenario, you will have > already likely reconciled the original transaction. Would you want to > edit a reconciled transaction? I wouldn't think so. Instead, if you > receive the money back a month later on the 15th, you would leave the > Mar 10th transaction alone and then show a deposit into your cash > account on April 15th. Also, this would show that you actually > overspent your clothing in Mar, and had a change of heart and received > your credit in April. > > You could probably take whatever approach you wanted to. I think that > what Kevin initially described and what I have tried to explain is > more common in the banking/accounting world and would ensure > consistency between your records, the bank's records, and the store's > records. Creating the second transaction isn't creating a "fake" > transaction--it's simply showing a transaction a few days after the > original purchase where the store gave you money in exchange for > returned merchandise. > > How you suggested reconciling the account below with MoneyWell or > Quicken will probably not cause your financial documents to get out of > whack, but it may be difficult a few weeks from now to understand what > actually happened, especially if you were to try and investigate using > bank records or receipts. I have no doubt it makes sense now, but > since it doesn't actually match the documents you have, it could be > difficult later on. > > Anyway, the choice is really up to you whether you'd want to go with > what is more of a standard (which I'd really recommend) or take a > different approach that you're comfortable with. > > Grace to you, > Blair > > On Mar 21, 2009, at 5:44 AM, ciara belle wrote: > > > > > nope sorry dont want to start creating 'fake' transactions... sigh > > then when i look at a month from now i will be like what? where'd that > > come from... > > the original transaction is already removed - and reconciled... in the > > q program i would have just added a line for misc -- so i guess i will > > just do that :) also - if i Dont change the original split it looks > > like i spent 57.75 MORE in that bucket (for which i returned items) > > than i actually did. > > > ml > > > On Mar 20, 5:08 pm, Kevin Hoctor <[email protected]> wrote: > >> On Mar 20, 2009, at 3:36 PM, ciara belle wrote: > > >>> HI there; > > >>> question for ya... > > >>> I spent around 200 at a store.... but some of the items didnt fit -- > >>> so i brought them back - 57.75... but the store doesnt credit back > >>> to > >>> the debit card - they give back cash... so i need to change that > >>> original transaction split to show i have that amount in cash now... > > >>> how do i do this? it has not yet been allotted... > >>> thanks > > >> I wouldn't touch the original transaction (since that is the amount > >> that will be removed from your account). Instead, I'd create a > >> deposit > >> transaction to my Cash account and assign that deposit to the same > >> bucket as the original purchase. This will fund that bucket with the > >> returned cash and you can go spend it on whatever you want still. > > >> Peace, > > >> Kevin Hoctor > >> [email protected] > >> No Thirst Software LLChttp://nothirst.comhttp:// > >> kevinhoctor.blogspot.com --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "No Thirst Software User Forum" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~----------~----~----~----~------~----~------~--~---
