Splitting Categories

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dheinric
Posts: 11
Joined: 29 December 2012, 17:55

Splitting Categories

Post by dheinric »

I have been using an excel spreadsheet that I have developed for the last 20 years. It works very well, but I am looking for something that I can use on our new ipad/iphones.

We have our budget set-up with four variable monthly budget catregories that we track on a monthly and a yearly basis. Everything else is tracked on a yearly basis and is comprised of less variable categories like utilities, mortgage, etc...

I see that you can post a transaction that split the categories by %% and by $$. This happens all the time as we will buy groceries and say shoes at the same store and it is nice to split the transaction into those categories. The way we have worked for years is that if we take cash out, that is automatically charged to the entertainment category. At times someone will spend cash on something other than entertainment and we need to redirect that cash to a different catagory. The way I have been doing it is to enter a transaction with-in the check registry with a total net $0 (removing the same $$ from one category and applying it to another catagory). Other examples are that we will give cash to say a Charity, thus wanting to do a category transfer. Is there a way to do this in your ipad app?

There are also instances that we take some cash out near the end of the month and we do not spend it. At the end of the month we reconcile our monthly spending budget categories and if we have cash, we will apply it to the next month, by again entering a net $0 transaction with-in the check registry, crediting the last month and applying the left over cash to the next month. Is there a way to do this in you ipad app?
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Angeman
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Re: Splitting Categories

Post by Angeman »

dheinric wrote:The way we have worked for years is that if we take cash out, that is automatically charged to the entertainment category. At times someone will spend cash on something other than entertainment and we need to redirect that cash to a different catagory.
You just have to modify the previous transaction to lower the amount of the entertainment split and add anew split for the other category.
dheinric wrote:There are also instances that we take some cash out near the end of the month and we do not spend it. At the end of the month we reconcile our monthly spending budget categories and if we have cash, we will apply it to the next month, by again entering a net $0 transaction with-in the check registry, crediting the last month and applying the left over cash to the next month. Is there a way to do this in you ipad app?
You can create a leftover debit transaction at the end of the month so that it will be included in the previous month budget and then create a leftover credit transaction at the beginning of the new month that will be included in the new budget.
dheinric
Posts: 11
Joined: 29 December 2012, 17:55

Re: Splitting Categories

Post by dheinric »

Yes that is possible. Thanks
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