How do you have cash spent show in the correct month if you spend in a different month than withdraw

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Sneely
Sneely Member ✭✭
edited May 2022 in Registers & Transactions (Mac)
I withdraw money from the bank and put it in "my wallet as a placeholder" and then if I don't use it in that same month, when I do use it my spending categories are off for two separate months. One month over and the other under. Anyone have a better way?

Best Answer

  • John_in_NC
    John_in_NC SuperUser, Mac Beta Beta
    Answer ✓
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    I setup a Cash account representing my wallet.

    If I withdraw cash such as you are doing, it is a transfer over to the cash account--nothing spent.

    Then, when I buy something, I enter a transaction in the Cash account for it. It's 100% manually entry, but that isn't a big deal for me as I don't use cash for a lot of transactions. I reconcile once a month to what is in my wallet.

Answers

  • John_in_NC
    John_in_NC SuperUser, Mac Beta Beta
    Answer ✓
    Options
    I setup a Cash account representing my wallet.

    If I withdraw cash such as you are doing, it is a transfer over to the cash account--nothing spent.

    Then, when I buy something, I enter a transaction in the Cash account for it. It's 100% manually entry, but that isn't a big deal for me as I don't use cash for a lot of transactions. I reconcile once a month to what is in my wallet.
  • Sneely
    Sneely Member ✭✭
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    Simple but brilliant - thank you!
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