unofficial microsoft.public.money FAQ and A
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Q) How do other users account for ATM withdrawals?
A) Many users setup a dedicated cash account, I call mine "Pocket Change". Transfer the money to the cash account, enter cash transactions in the cash account, and balance it occasionally against the amount of cash you have on hand, entering either an adjustment income (Other Income:Found Money) or expense (Miscellaneous:[unassigned]) transaction to get back in sync vs. the amount of money in your pocket. You don't have to record everything. Just record the things you remember or care about or have receipts for or whatever. If the amount you are writing off seems to be getting out of hand, you can track more closely. If it's getting to be a pain, track less closely and write off more.
If this is too much of a hassle or if your cash spending is sufficiently small/rare as to not be worth worrying about, you can just use splits to account for it. Say you get $50 from the ATM, spend $40 of tickets to the ball game and pocket the $10 to spend over the next week or two. You can split a withdrawal of $50 into $40 for Leisure:Sporting Events and $10 for Miscellaneous:[unassigned].
Please see this disclaimer if you are using Money 2005 or this comment if you are using Money 2006.
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Last update: 10 December 2006 |
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