Trying to set-up lottery accounting method showing purchase before outcome is known.

CBLProd

I want to record the cash purchase date of my scratch off or drawing tickets to show potential LOSS (lose entire ticket price) or WIN (winnings minus original ticket price). Each entry would probably have to be a SPLIT transaction that would need updating after outcome of gamble is received.

I want to record the ticket price initially as a gambling LOSS but need to get result of drawing at a later date for an update to potentially change it to a WIN minus the ticket cost.

I think the ticket cost might need to be a separate account for gambling losses (gambling fees?) in addition to main Gambling Losses account.

Maybe some suggestions here? Quicken Classic Premium version 8.5.2.

Jon

I would just enter each ticket purchase as an expense transaction. If any of the tickets win you can go back and turn it into a split transaction afterwards, no point in doing that up front. Create an expense category for the purchases and an income category for the winnings. Run a category report with just those two categories to get the net winnings (or losses) for any given time period.