tracking cash payments


S

simonwb

hi all

does anyone know how to handle cash in money? if i take
£100 out at a cash point and then go out for a meal and
pay £45 cash - how would i record this? Do i need to make
a transaction in my bank account (cashpoint withdrawal)
and then add money to my cash account ... and then pay
money out from the cash account. sounds complex ;(

is there another way.

thanks in advance.

simon
 
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C

Christopher

It may be a little long winded, but 'transfer' funds from Bank to Cash and
then pay all 'spends' from cash.


hi all

does anyone know how to handle cash in money? if i take
£100 out at a cash point and then go out for a meal and
pay £45 cash - how would i record this? Do i need to make
a transaction in my bank account (cashpoint withdrawal)
and then add money to my cash account ... and then pay
money out from the cash account. sounds complex ;(

is there another way.

thanks in advance.

simon
 
G

Glyn Simpson, MVP

Two ways.

a. Use an account called 'cash'. Cash withdrawals from your bank account are
transfers to this account. Then make deductions out of this for each cash
transaction

b. Make cash withdrawals from the bank account. hen you spend the cash,
alter these withdrawals to be splits, with things you want to track
categorised within.


hi all

does anyone know how to handle cash in money? if i take
£100 out at a cash point and then go out for a meal and
pay £45 cash - how would i record this? Do i need to make
a transaction in my bank account (cashpoint withdrawal)
and then add money to my cash account ... and then pay
money out from the cash account. sounds complex ;(

is there another way.

thanks in advance.

simon
 
S

simon warner-bore

Thanks Glyn. So instead of cashpoint withdrawals from
within my Lloyds TSB account, I make a transfer for the
amount taken out of the cashpoint to the cash account.

Simon :)
 
S

simon warner-bore

thanks christopher - it does seem longwinded .. it would
make sense to have be able to automatically deposit all
cashpoint withdrawls into a cash account linked with the
bank (ie if you have a Llyods TSB current account, you
automatically get an associated cash account).
Simon :)
 
G

Glyn Simpson, MVP

That's correct. Some people do this, others don't micro-manage their cash so
much - at the end of the day, it's possible to go either way.


Thanks Glyn. So instead of cashpoint withdrawals from
within my Lloyds TSB account, I make a transfer for the
amount taken out of the cashpoint to the cash account.

Simon :)
 
J

Jamie Stallwood

That's correct. Some people do this, others don't micro-manage their cash so
much - at the end of the day, it's possible to go either way.
And still others avoid using cash, because it can be so fiddly to
track. Thank the good Lord for Debit and Credit Cards!
 
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G

Glyn Simpson, MVP

Looking at my transaction history in Money, the amount of cash I am using
now is about 5% of what it was 10 years ago....
 

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