How to add Cash from Safe?

Question

I have a problem — my husband (who doesn't do Quicken) sometimes uses cash to pay for things (a practice I try to discourage because it messes up my record keeping). But it's his money (we are both retired). I have added an income category I call Cash from Safe — but I cannot figure out how to add expenses against it. Like paying a plumber $600 or accounting for a $150 restaurant bill. I don't like these things to fall off trhe table, but I don't know how to enter the expenses. Thanks

nmestanas · Answer

What they said!  I have a "Petty Cash" account.  ATM withdrawals transfer in. Cash payment out get the appropriate category.  I don't count loose coins in any balances.  While I don't have a lot of cash transactions (barber, handyman, tips, cash gifts, etc.) and I record them as I spend, the balances can get out of whack after a while.  Like above, I don't feel the need to reconcile to the penny so I just count up what I actually have and just adjust the balance.  Difference categorizes as MISC and is rarely more than few dollars a month.

This methods helps me understand where and how I'm spending cash.

[Deleted User] · Answer

@connums I agree with @thecreator-b that creating a offline cash account is the easiest way to keep track of cash transactions.  I have created an account called "Cash on Hand".  All ATM withdrawals are recorded as transfers from checking (or savings) to this cash account.  Then any purchases with cash are recorded in the cash account.  Also any cash reimbursements are recorded in the cash account as well.  I don't reconcile the cash account to the penny, but it gives me a good ideal of how much cash I have at any point.

thecreator-b · Answer

Hi @connums,

Don't use a Category for expenses for Cas

Use an off-line new Quicken Account, called Cash. This way, you can, Deposit cash, as well as defined going Cash, who the money was paid to. As well as defined a category for the expense. Including doing a split Transaction.  Portion paid with Cash and a portion with a Check or paid with Credit card.