I track all the money I spend, but my wife doesn't want to be bothered. So, when she takes money from the bank or other sources, I just credit that source and expense the money to an account named for her. you could do the same for each person's "mad" money.
Thank You, Gyle McCollam Gyle McCollam gmccol...@live.com<mailto:gmccol...@gyleshomes.com> email ________________________________ From: gnucash-user <gnucash-user-bounces+gylemc=gmail....@gnucash.org> on behalf of R Losey <rlo...@gmail.com> Sent: Wednesday, February 22, 2023 4:36 PM To: Larry Long <llon...@gmail.com> Cc: gnucash-user@gnucash.org <gnucash-user@gnucash.org> Subject: Re: [GNC] Cash on Hand [was: Interest Income] It's a good idea, but I apparently wasn't clear... we have set up a scheme where each of us gets a certain amount of private money ("pin money" is an old term for this; some call it "mad money" or "fun money") - it can be spent however the person chooses with no questions asked. We have sub-accounts to track our private money, and when we take cash out, it is taken away from the subaccount balance. But when we spend cash from our private fund, we don't track them (by choice). Cash money spent that is NOT from our private account is tracked... and we do have "Gifts" and "Gifts:Birthday" , and "Dining", etc. We try to ensure that we get receipts and record all of these. Sometimes, we run to the store for something small and pay cash - that, too is tracked. Because of that, I just have to adjust the cash balance every now and then, and "Adjustment" works well for our situation. But thank you for the suggestions. RL On Tue, Feb 21, 2023 at 10:09 AM Larry Long <llon...@gmail.com> wrote: > M/M Losey, > As you say, your actual cash funds can easily diverge from what is shown > in your GNC 'Cash on Hand" account.Instead of periodically equalizing via a > "Balance Adjustment" account, you might consider setting up some expense > accounts that allow you to be more definitive. > For recording known spending, you could have some accounts such as these: > > - Expenses:Gifts > - Expenses:Gifts:Christmas > - Expenses:Dining > - Expenses:Dining:Cash Tips > - Expenses:Personal Care > - Expenses:Miscellaneous > When you get a haircut for example, you could enter that as a $25 transfer > from "Assets:Cash on Hand" to "Expenses:Personal Care". > If you are like me, at the end of the month you might find only $60 in > your wallet, while GNC shows $100 cash. Knowing that you did, but not > remembering where you spent the difference, you could always throw $40 in > GNC from "Cash on Hand" into "Miscellaneous". > Larry ________________________________ > On Tuesday, February 21, 2023 at 06:38:31 AM EST, > gnucash-user-requ...@gnucash.org <gnucash-user-requ...@gnucash.org> > wrote: > Date: Mon, 20 Feb 2023 21:24:49 -0600 > From: R Losey <rlo...@gmail.com> > To: Abe Sternberg <abe.h.sternb...@gmail.com> > Cc: gnucash-user@gnucash.org > Subject: Re: [GNC] Interest Income > Message-ID: > <CAGQ=fyhfvdannafhma2nyo+5xdjchkyolxchhnct_z0gmux...@mail.gmail.com> > Content-Type: text/plain; charset="UTF-8" > > In your example, one account is the savings account and the other would be > something like "Income:Interest Income". > > I'm a non-bookkeeper (though I have had an overview of accounting); > unfortunately, the general language which we use has "debit" used to mean > "to take away from" and "credit" meaning "to add to". I could learn the > proper distinction, but I just turn off the formal terms. > > > To me, the idea of double-entry just means that every transaction needs to > balance... for example, a deposit to your checking account doesn't come out > of thin air -- it's either a salary or a gift or a refund or something you > sold: there has to be SOMETHING that it came from. > > I had to create a "balance adjustment" account, since when I cash a check, > I add the cash to "Cash on Hand", but some of that money is private > spending money for family members, and that isn't tracked, so I routinely > have to update the "Cash on Hand" balance. > > ... > > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > -- _________________________________ Richard Losey rlo...@gmail.com Micah 6:8 _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
