[No Thirst Software] Re: Tracking financial interactions with other people
Thanks for the idea. I'll try to do it with one specific bucket for now. On 29 май, 19:18, Lance wrote: > On May 29, 2:24 am, Oleg Iavorskyi wrote: > > > Thank you for reply. Maybe for this particular case it will work but > > in case I'd need to change money flows due to overtaking from "Dining > > Out" bucket it would be really hard to remember to move money back to > > the original bucket. > > > In any case I think that owing money shouldn't be threated as income > > or expense. I didn't really eat out for two persons moreover I do need > > to know that I still have this money as my asset regardless of where > > they physically is. I think of them more like transfers and in other > > application I've modeled them as transfers too - from my checking > > account to special personal account "John Doe", for example. This way > > I could see our interpersonal balance with "John" - either negative, > > when I have to return credit, or positive, when I should get them > > back. > > If you really want to track at this level of detail, you could create > a bucket for every person and split your Dining Out transactions that > way. > > A slightly less complex solution would be to create a single generic > "Money Loaned" bucket and whenever you loan someone money, you assign > it to this bucket and put their name in the memo field. This way you > can quickly search for a person's name and quickly see all the money > loaned out to and paid back from that person and the sum of those > transactions and this wouldn't skew your Dining Out or other buckets. > > But unless there is going to be a long period of time between loaning > out the money and getting paid back, I'm not sure this is worth the > extra trouble. If you assign the entire transaction to "Dining Out", > sure it looks like you spent a little more than you really did, but > that will correct itself as soon as you get paid back. > > -Lance --~--~-~--~~~---~--~~ 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 no-thirst-software@googlegroups.com To unsubscribe from this group, send email to no-thirst-software+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~--~~~~--~~--~--~---
[No Thirst Software] Re: Tracking financial interactions with other people
On May 29, 2:24 am, Oleg Iavorskyi wrote: > Thank you for reply. Maybe for this particular case it will work but > in case I'd need to change money flows due to overtaking from "Dining > Out" bucket it would be really hard to remember to move money back to > the original bucket. > > In any case I think that owing money shouldn't be threated as income > or expense. I didn't really eat out for two persons moreover I do need > to know that I still have this money as my asset regardless of where > they physically is. I think of them more like transfers and in other > application I've modeled them as transfers too - from my checking > account to special personal account "John Doe", for example. This way > I could see our interpersonal balance with "John" - either negative, > when I have to return credit, or positive, when I should get them > back. > If you really want to track at this level of detail, you could create a bucket for every person and split your Dining Out transactions that way. A slightly less complex solution would be to create a single generic "Money Loaned" bucket and whenever you loan someone money, you assign it to this bucket and put their name in the memo field. This way you can quickly search for a person's name and quickly see all the money loaned out to and paid back from that person and the sum of those transactions and this wouldn't skew your Dining Out or other buckets. But unless there is going to be a long period of time between loaning out the money and getting paid back, I'm not sure this is worth the extra trouble. If you assign the entire transaction to "Dining Out", sure it looks like you spent a little more than you really did, but that will correct itself as soon as you get paid back. -Lance --~--~-~--~~~---~--~~ 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 no-thirst-software@googlegroups.com To unsubscribe from this group, send email to no-thirst-software+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~--~~~~--~~--~--~---
[No Thirst Software] Re: Tracking financial interactions with other people
Thank you! I'll wait patiently and try not to owe too much during this period :). On 29 май, 14:12, Kevin Hoctor wrote: > The ability to track I.O.U.s in MoneyWell is already on the planned > feature list. Thanks! > > Peace, > > Kevin Hoctor > No Thirst Software LLChttp://nothirst.com > > Sent from my iPhone > > On May 29, 2009, at 4:24 AM, Oleg Iavorskyi > wrote: > > > > > Thank you for reply. Maybe for this particular case it will work but > > in case I'd need to change money flows due to overtaking from "Dining > > Out" bucket it would be really hard to remember to move money back to > > the original bucket. > > > In any case I think that owing money shouldn't be threated as income > > or expense. I didn't really eat out for two persons moreover I do need > > to know that I still have this money as my asset regardless of where > > they physically is. I think of them more like transfers and in other > > application I've modeled them as transfers too - from my checking > > account to special personal account "John Doe", for example. This way > > I could see our interpersonal balance with "John" - either negative, > > when I have to return credit, or positive, when I should get them > > back. > > > In MW we have buckets which complicates such interaction. Let's think > > about how in 1931 people owe money. There was no envelope signed like > > "Owe to others" as one couldn't plan for this. Usually it was money > > left in other envelopes or some savings. But how did these people know > > that money wasn't spent but rather "blocked" for some time? They > > should write it down somewhere! However MW doesn't provide such > > capability or I'm not smart enough to figure this out :). > > > So the ultimate question is how to block some amount of money from > > being available for spending? It's not about setting start date for > > money flows. It's about having "outside buckets" where you could put > > and get money but these operations don't mean income or expenses. Such > > paradigm will solve not only problem of tracking interactions with > > other persons but also tracking of savings. > > > Seems that I came up with kind of feature request :) However I > > understand that after yesterday's emails hell this may just be not the > > best time to post it. > > > On 29 май, 01:42, Lance wrote: > >> On May 28, 2:35 pm, Oleg Iavorskyi wrote: > > >>> Hi! > > >>> I'm new to MoneyWell but one day of evaluation was enough for me to > >>> decide that it completely fits my needs. The only problem I see is > >>> absence of straight instructions on how to handle interpersonal > >>> financial interactions in the application. > > >>> I owe money from other people and they owe money from me quite > >>> often. > >>> I'd like to track such transactions in MW (they are cash only most > >>> of > >>> the time). Problem is how to do this "correctly" mixed with buckets > >>> paradigm. I hope next example scenario will help you to understand > >>> my > >>> problem better. > > >> I would recommend assigning the entire credit card transaction to > >> your > >> "Dining Out" bucket. When your colleague pays you back, you can > >> manually enter a "deposit" into your cash account and also assign > >> that > >> to the "Dining Out" bucket so it gets credited back the amount you > >> lended out. > > >> -Lance --~--~-~--~~~---~--~~ 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 no-thirst-software@googlegroups.com To unsubscribe from this group, send email to no-thirst-software+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~--~~~~--~~--~--~---
[No Thirst Software] Re: Tracking financial interactions with other people
The ability to track I.O.U.s in MoneyWell is already on the planned feature list. Thanks! Peace, Kevin Hoctor No Thirst Software LLC http://nothirst.com Sent from my iPhone On May 29, 2009, at 4:24 AM, Oleg Iavorskyi wrote: > > Thank you for reply. Maybe for this particular case it will work but > in case I'd need to change money flows due to overtaking from "Dining > Out" bucket it would be really hard to remember to move money back to > the original bucket. > > In any case I think that owing money shouldn't be threated as income > or expense. I didn't really eat out for two persons moreover I do need > to know that I still have this money as my asset regardless of where > they physically is. I think of them more like transfers and in other > application I've modeled them as transfers too - from my checking > account to special personal account "John Doe", for example. This way > I could see our interpersonal balance with "John" - either negative, > when I have to return credit, or positive, when I should get them > back. > > In MW we have buckets which complicates such interaction. Let's think > about how in 1931 people owe money. There was no envelope signed like > "Owe to others" as one couldn't plan for this. Usually it was money > left in other envelopes or some savings. But how did these people know > that money wasn't spent but rather "blocked" for some time? They > should write it down somewhere! However MW doesn't provide such > capability or I'm not smart enough to figure this out :). > > So the ultimate question is how to block some amount of money from > being available for spending? It's not about setting start date for > money flows. It's about having "outside buckets" where you could put > and get money but these operations don't mean income or expenses. Such > paradigm will solve not only problem of tracking interactions with > other persons but also tracking of savings. > > Seems that I came up with kind of feature request :) However I > understand that after yesterday's emails hell this may just be not the > best time to post it. > > On 29 май, 01:42, Lance wrote: >> On May 28, 2:35 pm, Oleg Iavorskyi wrote: >> >>> Hi! >> >>> I'm new to MoneyWell but one day of evaluation was enough for me to >>> decide that it completely fits my needs. The only problem I see is >>> absence of straight instructions on how to handle interpersonal >>> financial interactions in the application. >> >>> I owe money from other people and they owe money from me quite >>> often. >>> I'd like to track such transactions in MW (they are cash only most >>> of >>> the time). Problem is how to do this "correctly" mixed with buckets >>> paradigm. I hope next example scenario will help you to understand >>> my >>> problem better. >> >> I would recommend assigning the entire credit card transaction to >> your >> "Dining Out" bucket. When your colleague pays you back, you can >> manually enter a "deposit" into your cash account and also assign >> that >> to the "Dining Out" bucket so it gets credited back the amount you >> lended out. >> >> -Lance > > --~--~-~--~~~---~--~~ 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 no-thirst-software@googlegroups.com To unsubscribe from this group, send email to no-thirst-software+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~--~~~~--~~--~--~---
[No Thirst Software] Re: Tracking financial interactions with other people
Thank you for reply. Maybe for this particular case it will work but in case I'd need to change money flows due to overtaking from "Dining Out" bucket it would be really hard to remember to move money back to the original bucket. In any case I think that owing money shouldn't be threated as income or expense. I didn't really eat out for two persons moreover I do need to know that I still have this money as my asset regardless of where they physically is. I think of them more like transfers and in other application I've modeled them as transfers too - from my checking account to special personal account "John Doe", for example. This way I could see our interpersonal balance with "John" - either negative, when I have to return credit, or positive, when I should get them back. In MW we have buckets which complicates such interaction. Let's think about how in 1931 people owe money. There was no envelope signed like "Owe to others" as one couldn't plan for this. Usually it was money left in other envelopes or some savings. But how did these people know that money wasn't spent but rather "blocked" for some time? They should write it down somewhere! However MW doesn't provide such capability or I'm not smart enough to figure this out :). So the ultimate question is how to block some amount of money from being available for spending? It's not about setting start date for money flows. It's about having "outside buckets" where you could put and get money but these operations don't mean income or expenses. Such paradigm will solve not only problem of tracking interactions with other persons but also tracking of savings. Seems that I came up with kind of feature request :) However I understand that after yesterday's emails hell this may just be not the best time to post it. On 29 май, 01:42, Lance wrote: > On May 28, 2:35 pm, Oleg Iavorskyi wrote: > > > Hi! > > > I'm new to MoneyWell but one day of evaluation was enough for me to > > decide that it completely fits my needs. The only problem I see is > > absence of straight instructions on how to handle interpersonal > > financial interactions in the application. > > > I owe money from other people and they owe money from me quite often. > > I'd like to track such transactions in MW (they are cash only most of > > the time). Problem is how to do this "correctly" mixed with buckets > > paradigm. I hope next example scenario will help you to understand my > > problem better. > > I would recommend assigning the entire credit card transaction to your > "Dining Out" bucket. When your colleague pays you back, you can > manually enter a "deposit" into your cash account and also assign that > to the "Dining Out" bucket so it gets credited back the amount you > lended out. > > -Lance --~--~-~--~~~---~--~~ 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 no-thirst-software@googlegroups.com To unsubscribe from this group, send email to no-thirst-software+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~--~~~~--~~--~--~---
[No Thirst Software] Re: Tracking financial interactions with other people
On May 28, 2:35 pm, Oleg Iavorskyi wrote: > Hi! > > I'm new to MoneyWell but one day of evaluation was enough for me to > decide that it completely fits my needs. The only problem I see is > absence of straight instructions on how to handle interpersonal > financial interactions in the application. > > I owe money from other people and they owe money from me quite often. > I'd like to track such transactions in MW (they are cash only most of > the time). Problem is how to do this "correctly" mixed with buckets > paradigm. I hope next example scenario will help you to understand my > problem better. > I would recommend assigning the entire credit card transaction to your "Dining Out" bucket. When your colleague pays you back, you can manually enter a "deposit" into your cash account and also assign that to the "Dining Out" bucket so it gets credited back the amount you lended out. -Lance --~--~-~--~~~---~--~~ 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 no-thirst-software@googlegroups.com To unsubscribe from this group, send email to no-thirst-software+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/no-thirst-software?hl=en -~--~~~~--~~--~--~---
