The best way to do this...




Okay. Here it is. I have "x" amount of money that I just deposited into my
checking account. However, this money is for an upcoming event, and I
prefer to not put it into my savings account. I do not want it to show in
the balance of my register, so, which is the best way:

Do I: a) Create some fake account, entitled Anniversary Gift or whatever
and then "transfer" the $ to this account (it would still show in checking
account but would be as withdrawal, right, and there it would stay until I
reconcile it; or, b) write a "check" to myself and just leave it as that
until I need it.

This might sound like a stupid little thing, but I just know there must be
an easier way then setting up a fake bank account. I couldn't figure out
how to allocate it to a savings goal. It has to show in the checking
account because it is there, but I don't want to think the money is mine by
seeing it in the balance. Understand?

Any thoughts would be appreciated.




Dick Watson

Quicken offers a feature tailor-made for "faking yourself out" like this
called subaccounts. Money really has no suitable equivalent. Personally, I
think this is a good thing, but many other's mileage varies. Money should
tell truths not aid and abet you in fooling yourself, as I see it.

This issue is treated frequently and there are many different approaches;
most of which you've touched on. You might search this group at Of your choices, I think just creating an expense
to some temporary category (I've got one called "Miscellaneous:Deposit,
Credit to Follow") and leaving this unreconciled until you subsequently
delete it is probably the best solution.


I think you are going to have to create another account - some kind of
holding account and transfer the funds there.

Other option is to actually open another account at your bank.
Checking, savings, or whatever. Most of these accounts are free and
it would truly help you separate you funds.

David Brownridge

The way I deal with that is to leave the money in the cheque acct, and in
Bills & Deposits create a Bill (with frequency Only Once) and the
appropriate future date. Until that "bill" is paid the money will show in
the balance of the account; but if you look at the forecast for the account
you'll see where it gets withdrawn.

The important point is that in terms of "think what money is mine" I never
just look at the balances in the accounts list; rather I check out the
cashflow forecasts.




BB wrote:
| Thank you all for your input. I needed some different ideas.
| Frank, I appreciate your response but I don't understand it. Please
| clarify.

Under Job expense it has two catagories. Non-reimbursed and
reimbursed. In order for me to stay with double entry I placed
a catagory named reimbursed under other income.

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