also to clarify - i realize its not moneywell's fault that i have too many cash accounts and am using them not as 'designed'
big grin. ml On Mar 22, 9:05 am, Kevin Hoctor <[email protected]> wrote: > Just to clarify this scenario for others: Adding transactions to a > cash account is the correct way to handle situations when you spend or > receive cash. > > These are not "fake" transactions because they did happen (there are > times when you spend cash or a vendor gives you cash back). These are > not bank transactions though so you don't want to touch your checking > or savings account register with these. > > But the cash account in MoneyWell was specifically designed to track > pocket cash and is the perfect solution for assigning this kind of > cash flow to your buckets. > > Peace, > > Kevin Hoctor > No Thirst Software LLChttp://nothirst.com > > Sent from my iPhone > > On Mar 22, 2009, at 6:04 AM, ciara belle <[email protected]> wrote: > > > > > 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 -~----------~----~----~----~------~----~------~--~---
