How to manage split expenses with my wife?

JeanFelix Cote

Hi,

I have been using Quicken for a couple of months now but I still can't figure out a simple way to manage split transactions with someone else. We have multiple expenses that we split 2-way. Those expenses are recorded on another software : Splitwise. I would like to do 2 things.

1. Adjust the amount I paid for a split-expense to the amount I actually should pay. For example, paid 150 at the restaurant but should have paid 75$. So, in other words, have a category of a way to half the cost of these expenses.
2. Add expenses by my wife (in bulk by category) to balance the total.

I don't know how could it be possible, should I Split transactions ? Should I add another account? Should I only add her expenses and then manually half mine? I'm trying to work efficiently with the powerful tool that is Quicken.

Thanks.

jacobs

@JeanFelix Cote said: [How do I] Adjust the amount I paid for a split-expense to the amount I actually should pay. For example, paid 150 at the restaurant but should have paid 75$. So, in other words, have a category of a way to half the cost of these expenses.

You need the $150 transaction amount in the account register so you are able to reconcile the account. But for tracking your expenses, you can use a split to record $75 as your meal expense and $75 as Category="Adjustment" or Category="Transfer", which are special categories which are not counted as expenses.

Or, if you want to track what you spend for your wife or she spends for you so you have a running balance of who owes whom what, you could have an Asset account and make the second split Transfer to that account, increasing the balance she "owes" you. Then when she pays an expense for you, you'd need to record that in the asset account, reducing what she owes you.