Tony, I wouldn't recommend having unassigned transactions, though if you use it for income it won't create anything other than an accounting problem.
Imagine the following envelope scenario. When you receive your paycheck, you divide all of your money between envelopes. When you don't leave something unassigned in MoneyWell, it's like sticking money under the mattress and not making it available to your envelopes. While this can create a buffer for you and help keep you out of trouble with cash flow, it also makes it difficult to know how much money you actually have to spend. You could also forget about it, since it's not in your envelopes, and you may need it but not realize you have the money. That's the basic effect of not assigning all your income to buckets. Your checking account will report that you have more money that you actually have divided between all your buckets. The converse problem is even worse--spending money without assigning it to a bucket. If you have all you money divided between envelopes, but then you spend money without assigning it to a bucket (or without removing it from an envelope), you have reduced the amount of money that you have, but not changed how much you say you have in envelopes. The net effect of this is that if you were to spend all your money from the envelopes, you would overdraft your checking account. For this reason, I assign all transactions to a bucket. I have a bonus income bucket, and I have a bank fees bucket in which I put my interest. There are some situations that you would not assign a transaction to a bucket (and it would also not mess up your cash flow as I described above), but I think that it's beyond the scope of your question... Grace to you, Blair Watkinson On Mar 25, 2009, at 8:59 PM, Tony wrote: > > When depositing paychecks, bonuses, interest, etc, into a checking > account, should a bucket be assigned to them? I don't want to > automatically send them to the salary bucket. If I don't assign them > a bucket, then they show up as Unassigned. Is having unassigned items > not good practice? I found I can also right click and make the bucket > optional for these kinds of transactions. What are others doing and/ > or what is recommended? Thanks > > > --~--~---------~--~----~------------~-------~--~----~ 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 -~----------~----~----~----~------~----~------~--~---
