club accounts


M

Marina Snider

I have a few club accounts where I transfer money every
month for big expenses, ex. car maintenance, Christmas
shopping. When it comes to spending the money I was not
successful in transfering that money back into the budget
so all my numbers balance. Does anybody know how do I
transfer the money back so it shows I have more funds
available to spend that month? The only way I have been
using is to show it as an income, but then my club
accounts don't show the correct balances...
Thanks
 
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D

Dick Watson

What does "transferring money back into the budget" mean??? You mean your
budget thinks you aren't spending much but because of your creative
accounting you can spend more and you want permission from the budget to do
so?
 
C

Christopher

Dick - it's not really to do with creative accounting but many corporations
[and some smaller organisations] create budgets against which expenditure is
monitored. If a payment is made and then possibly refunded for some
reason, the money needs to go back into the budget .......... remain
unspent. In larger corporations there are severe penalties for exceeding
budgets and strangely also for undershooting [makes the guy that approved
the budget look like a moron].
 
D

Dick Watson

I work in a **large** corporation and am stuck with several cost accounts.

My point was that "transferring money back into the budget" has no real
meaning in Money. The case you cite: payment made then refunded is easy
enough: record the refund as a "negative expense" against the original
category. This will appear as a variance in the period that you record it.
 
M

Marina Snider

Something like this. For example, I have been saving up
for my college in a "club account". Now I want to
transfer $1200 every three months back into my checking
account so I can pay for my classes. I want the budget
to recognize that I am spending my saved money versus the
income that month. So when I make a transfer from
my "club" account I want the budget to show I have extra
funds that month so I pay for my college and don't
overspend.
thanks
 
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D

Dick Watson

Budgets don't care much where the money is coming from. They report income
vs. expenses. The money you have saved was income a long time ago. In a
budget way back then it would have been a positive income to expense. Now
you are spending more than you took in. You are depleting your savings. You
are, by any measure, getting poorer.

The only way to do what you want is to take the account with the money out
of the budget. You can do this in the account details. Oh, and record the
expense transactions in the account that you just took out of the budget.
 
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