unofficial microsoft.public.money FAQ and A
[ Home ]
Q) I paid the phone bill, but my roommate owes me half of it. How do I track that in Money?
A) There are two basic approaches to this. Which you pick depends on how frequent this requirement is and how carefully you want to track this obligation--i.e., is the roommate really all that trustworthy.
The first approach: Pay the Utilities:Phone bill. Then record some Utilities:Phone income when your roommate reimburses his share. Depending on your settings, Money will whine about an income categorized as an expense. Tell it that this is really what you want to do.
The second approach: Create a cash account to track your roommate's balance. Pay the Utilities:Phone bill. Add a second transaction for the same category depositing half the amount into your roommate's balance account. (This is a receivable--an asset--so it is a deposit here. Using the same category effectively reduces your spending in this category.) When your roommate pays her share, transfer the amount from the roommate's balance account to whatever account you deposit it in. Whatever the positive balance of that account is what she still owes you.
Please see this disclaimer if you are using Money 2005 or this comment if you are using Money 2006.
| ← Previous | Next → |
| How to do things in Money: Financial Situations Q) I get a pay advance on the 15th and a full paycheck less the advance at the end of the month. How do I track this in Money? |
How to do things in Money: Financial Situations Q) I'm distributing my 401(k)/withdrawing from my IRA--how do I categorize the transfer as income? |
|
Last update: 10 December 2006 |
If this kind of stuff is important to you:
