Handling shared expenses in a bank account

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melimeli
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Joined: 05 October 2022, 23:23

Handling shared expenses in a bank account

Post by melimeli »

Hi,
I have read the indications about handling shared expenses, but I don't fully understand the steps, so I would like to ask for more details with an example.

I have created a "savings" account (lets call it "Bank1") where I register all transactions. These transactions are all automatically upload through a csv file.

Among them, 90% correspond only to my own expenses.
The problem for me is that some of them correspond to my partner and I would like to know what he owes and in which categories.

So let's say there is an expense in "Bank1" that would corresponde to the category Supermarket of 100€ and of these, 20€ correspond to his expenses.
Then there is another expense in Bank1 category Transportation of 40€ in which 10€ are mine and he needs to pay me 30€.
And one more in "Bank1" for Supermarket again of 80€ and he owes me 15 of these euros.

How should I modify each of these transactions so that somewhere in iCompta interface I know that:
- he owes me a total of 65€
- he owes me 35 in supermarket and 30 in transportation category.

There is a mention to the "transfer" option in the user guide that I'm not sure if should be used here and how (among others since in any case he should be the one to transfer to me 65€, so is not a transfer from my account to him.

Thanks in advance.
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Angeman
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Re: Handling shared expenses in a bank account

Post by Angeman »

melimeli wrote: 05 October 2022, 23:38 So let's say there is an expense in "Bank1" that would corresponde to the category Supermarket of 100€ and of these, 20€ correspond to his expenses.
You create a 100 € transaction with 2 splits :
- 80 € category Supermarket
- 20 € transfer to your partner person (not his checking account, his special person account)

If you really want to know the categories in which he owes you then you also have to modify the other side of the 20 € transfer than has been created in his person and change the category to Supermarket there.
melimeli wrote: 05 October 2022, 23:38 - he owes me a total of 65€
This information will be displayed directly underneath his person account.
melimeli wrote: 05 October 2022, 23:38 - he owes me 35 in supermarket and 30 in transportation category.
For this you will have to look at a splits report that targets only his person account.
melimeli
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Joined: 05 October 2022, 23:23

Re: Handling shared expenses in a bank account

Post by melimeli »

Thank you!
Let me ask you two more questions:
- why it is named Transfer to? It sounds to me like this would mean that I have to transfer to this person the money, not that the person owes me that money
- why I have to assign the category in his person account and not in mine? What would be the problem with this?
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Angeman
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Re: Handling shared expenses in a bank account

Post by Angeman »

melimeli wrote: 06 October 2022, 22:59 - why it is named Transfer to? It sounds to me like this would mean that I have to transfer to this person the money, not that the person owes me that money
Well strictly speaking it's a transfer to another account. This account is a special imaginary one but still it's an account from the software perspective.
melimeli wrote: 06 October 2022, 22:59 - why I have to assign the category in his person account and not in mine? What would be the problem with this?
This is because it's not your expense but his. You can assign it in your account if you want but if you do so, the splits report for your account will display false results unless you specifically exclude transfers to your partner's person in the splits filter of the report.
melimeli
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Joined: 05 October 2022, 23:23

Re: Handling shared expenses in a bank account

Post by melimeli »

OK!
Then at some point he will pay me back and there will be one income in my "Bank1" account for a total of 65€ in this example.
How should I set it so it reflects that my partner owes me now 0€ and the transaction is ignored in any of my balances?
With this I think I will have closed the full loop
Thank you
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Angeman
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Re: Handling shared expenses in a bank account

Post by Angeman »

It will be a 65 € transfer from any of his accounts to your "bank 1" account.
melimeli
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Re: Handling shared expenses in a bank account

Post by melimeli »

Hi again,
now that I'm using the Transfer option as in the example, I would like to create the following rule, but I don't see how.
I have a rule to setup a category automatically based on the Name of the transaction.
When the transaction is of category "Invoice" I would like to split it in two, one would be kept to Invoice (under my name) and the other would be transferred (50% always) to the account of my partner. Since all invoices will go this way I would like to make it automatic.
I know how to make a rule for Invoice based on the Names, however I dont know how to make the second part of splitting 50% and Transfer to him one of the splits in a rule
Thank you
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Angeman
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Re: Handling shared expenses in a bank account

Post by Angeman »

You need to set up the actions of your rule like this (the order of the actions is important) :
Capture d’écran 2022-12-04 à 12.14.54.png
Capture d’écran 2022-12-04 à 12.14.54.png (121.72 KiB) Viewed 112438 times
melimeli
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Re: Handling shared expenses in a bank account

Post by melimeli »

Hi
I have a shared savings account in icompta with my partner, so we are both owners.
Sometimes he makes a mistake and charges his own expenses to this account. This means that there is an expense of e.g. 100€ in one single split with two owners. This should be the full amount to him, so he owes me 50€. I tried the transfer option but it doesn't offer me his name (probably since he is owner of the account too?). So I could remove my name and make it 100% his expense but this doesn't reflect in his Person account so that he owes me 50€.
How could it be done?
Thanks
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Angeman
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Re: Handling shared expenses in a bank account

Post by Angeman »

In this case you have to make a transfer from his person to your person so that it will be part of the debts computation.
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