I created an expense category called "household" to show contributions made to our joint checking to pay bills. I need help to understand what is the right way to categorize these transactions.
1. I changed the category from expense to income-- that changes the balance at the bottom. It "looks" nice-- but technically it isn't income. . .
2. Individual contributions made by each spouse *from* their individual accounts would rightly, be categorized as a "household" *expense*. However, how should the deposit made to the joint checking be categorized? How do I categorize that?
3. Since the cashflow report is for household expenses-- maybe I need to exclude?? husbands income in this report-- because that is his income deposited into his personal checking account.
attached report for clarification.
Suggestions insight appreciated. -- Thank you!