MS Money Help

SuiDreams

Sorry if this is the wrong place. I was wondering what people did regarding Cash spends in MS Money?

MPH80

It depends. Previously - I just marked it as 'cash withdrawl' and counted it as money that was gone.

Because I was spending quite a bit in cash - instead I created an account called 'cash' and all my withdrawls became transfers to cash. From there - I then recorded the cash spend.

However, because I didn't carry around a little notebook and towards the end of last year I got very busy - I fell behind and started recording more 'cash withdrawls' again. As a result - I've returned to my original method.

M.

choccyface2006

I split the transaction, for example Cash withdrawal £10........... £3 for travel, £5 eating out £2 food, for very small (say under £1) amounts I write of as day-today expenses.

The more information you put into Money, the more detailed and accurate it becomes, like MPH80 I didn't used to elaborate on cash withdrawals but you have a much better picture when you do, although its more time consuming!

Sarah x

choccyface2006

Oh and if I get cash from somewhere other than my bank (say my mum pays me back for something) I have a CASH account on Money that I put it into, then if I pay it into a bank account I transfer it on Money or I catagorise where I have spent it.

Sarah x

SuiDreams

choccyface2006 wrote: »

Oh and if I get cash from somewhere other than my bank (say my mum pays me back for something) I have a CASH account on Money that I put it into, then if I pay it into a bank account I transfer it on Money or I catagorise where I have spent it.

Sarah x

I quite often get cash from Hubby for various things (usually where I pay for something on CC on his behalf), and end to use this rather than paying it into the Bank and then withdrawing more cash. would like to keep track of where it all goes so Cash account sound like the best way.

Thanks

choccyface2006

SuiDreams wrote: »

I quite often get cash from Hubby for various things (usually where I pay for something on CC on his behalf), and end to use this rather than paying it into the Bank and then withdrawing more cash. would like to keep track of where it all goes so Cash account sound like the best way.

Thanks

Well, if your credit card is set up on MS Money, when you spend on it for something that you know you will get the money back, enter the amount and rather than give it a specific category put it down as Miscellaneous, then when you get the cash back, enter it in your cash account as Miscellaneous again to cancel out the first transaction

(Always do this for other refunded items too, enter the refund under the same category as the original transaction)

Sarah x

EagerLearner

I always split cash withdrawals, and make a note in a small notepad as to what it was for - ie: 07/04/08 £10 cash withdrawal = £4.00 lunch, £2.00 savings, £4.00 travel etc.