How to divide cash withdrawals into individual cash purchases?

Discussion in 'Microsoft Money UK' started by Scott Curtis, Apr 19, 2004.

  1. Scott Curtis

    Scott Curtis Guest

    Hi,

    I have several ATM withdrawals each month and they show
    up as transactions on my current account. This is fine if
    I want to keep a count of the number of withdrawals but
    it is the individual items that have been purchased using
    the withdrawn cash that I really want ot track?

    Does Money allow me to still show a withdrawal as a
    withdrawal but input individual cash purchases (which
    aren't linked to an account as transactions because they
    come from the already registered ATM withdrawal) so that
    I can track the amount of money spent on things like
    magazines and lunch using cash? If I can link these cash
    purchases to the withdrawn transactions so that I can
    compare the amount of cash withdrawn to the amount spent
    on small cash purchases etc, this would be nice!!

    Hope that makes some sense???

    Thanks
    Scott
     
    Scott Curtis, Apr 19, 2004
    #1
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  2. If you want to track cash purchases, then you should make these withdrawals
    to be transfers into a Cash account, and then, with this cash account, track
    your cash transactions.

    If you start recatagorising the ATM transaction split each time you spend
    money, then you're asking for a lot of work.
     
    Glyn Simpson, MVP, Apr 19, 2004
    #2
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  3. Scott Curtis

    Scott Curtis Guest

    If you start recatagorising the ATM transaction split
    each time you spend
    Tell me about it!! :)

    I was just interested in doing it for a couple of months
    to get a clearer idea of exactly where all the money is
    going...!

    I don't expect to say "This £2.50 was spend on a magazine
    and came from this cash withdrawal." more like "£2.50 was
    spent on a magazine and was bought using cash. The cash
    comes from the overall cash withdrawn throughout the
    month." That way I can budget on cash spent on individual
    items and do comparisons on cash spent to cash withdrawn
    ratios etc.

    I know this will be a lot of work. But Alvin Hall says it
    is worth tracking every single penny for a month or so in
    order to get a clear idea of where it all goes and I
    thought it would be nice to use Money to help that
    tracking!! :)

    Thanks for the quick reply!

    Scott
     
    Scott Curtis, Apr 19, 2004
    #3
  4. I track most of my cash purchases (but not all) although I don't tend to use
    cash that much so it's quite easy. I use a cash account where I transfer in
    the ATM withdrawals, so I don't need to change any transactions once they
    are made.

    Micromanagement can work, although one can be obsessed with it. However, I
    would agree with Alvin on it - if you don't track it like this, you'll never
    know where it all goes if that is something you want/need to do.



    Tell me about it!! :)

    I was just interested in doing it for a couple of months
    to get a clearer idea of exactly where all the money is
    going...!

    I don't expect to say "This £2.50 was spend on a magazine
    and came from this cash withdrawal." more like "£2.50 was
    spent on a magazine and was bought using cash. The cash
    comes from the overall cash withdrawn throughout the
    month." That way I can budget on cash spent on individual
    items and do comparisons on cash spent to cash withdrawn
    ratios etc.

    I know this will be a lot of work. But Alvin Hall says it
    is worth tracking every single penny for a month or so in
    order to get a clear idea of where it all goes and I
    thought it would be nice to use Money to help that
    tracking!! :)

    Thanks for the quick reply!

    Scott
     
    Glyn Simpson, MVP, Apr 19, 2004
    #4
  5. You can split transactions so that each purchase you made with the
    cash is assigned it's own category. It is a hassle but mght be worth
    doing for your purposes. One problem is that next time you make a cash
    withdrawal from the same ATM/Bank, then Money suggests the same split
    even oif the amounts don't add up.

    Andrew
     
    Andrew McGleish, Apr 20, 2004
    #5
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