Cash Business meals

I can't figure out how to put cash business meals into money. The only place
seem to be in the checking account, but it was CASH.

Dick
Mon Aug 27 20:09:15 CDT 2007

Perhaps you need to create an account to track cash transactions? If that's
the thrust of what you re wondering, see http://umpmfaq.info/faqdb.php?q=93.
If you are wondering about specific * Business * versions of Money and their
support for this, I can't say for sure, but the same type of approach might
apply.

"Glenn" <Glenn@discussions.microsoft.com> wrote in message
news:94E3E9E7-AA94-4B96-8EDA-1589D7AA7C8E@microsoft.com...
>I can't figure out how to put cash business meals into money. The only
>place
> seem to be in the checking account, but it was CASH.

Glenn
Mon Aug 27 20:58:02 CDT 2007

Thanks. At least I now know an answer, but it was what I was afraid of. I
think I will just use an excel spreadsheet to keep the list for my
accountant. It seems so much easier than doing all that. Why microsoft
doesn't think in terms of simple, I don't know.

"Dick Watson" wrote:

> Perhaps you need to create an account to track cash transactions? If that's
> the thrust of what you re wondering, see http://umpmfaq.info/faqdb.php?q=93.
> If you are wondering about specific * Business * versions of Money and their
> support for this, I can't say for sure, but the same type of approach might
> apply.
>
> "Glenn" <Glenn@discussions.microsoft.com> wrote in message
> news:94E3E9E7-AA94-4B96-8EDA-1589D7AA7C8E@microsoft.com...
> >I can't figure out how to put cash business meals into money. The only
> >place
> > seem to be in the checking account, but it was CASH.
>
>
>

Dick
Mon Aug 27 21:05:55 CDT 2007

What would you think was simpler? How is doing this in Money, more or less
as described in the umpmfaq, more complicated that an Excel solution?

"Glenn" <Glenn@discussions.microsoft.com> wrote in message
news:EA6FC19F-ACB1-4B83-A83F-01557E9B0042@microsoft.com...
> Thanks. At least I now know an answer, but it was what I was afraid of. I
> think I will just use an excel spreadsheet to keep the list for my
> accountant. It seems so much easier than doing all that. Why microsoft
> doesn't think in terms of simple, I don't know.

Dick
Mon Aug 27 21:14:29 CDT 2007

Put another way, what part of the link I sent you to made this sound harder
than Excel? Create an account, enter transactions. Seems like that's as
simple as anything in Money can be. Everything else is about whether you
want the balance of that account to reflect anything in reality and not
distort the balance of your financial picture as depicted by Money.

"Dick Watson" <littlegreengecko@mind-enufalready-spring.com> wrote in
message news:eRgvEgR6HHA.5796@TK2MSFTNGP05.phx.gbl...
> What would you think was simpler? How is doing this in Money, more or less
> as described in the umpmfaq, more complicated that an Excel solution?

ameridan
Tue Aug 28 17:42:00 CDT 2007

I agree; under your Business category, create a subcategory Meals &
Entertainment and link this to Schedule C meals and entertainment and you're
done. Then use your cash or credit card account to record your meals.

Now what does get a little more complicated for me is Mileage. I record
miles and multiply times 48.5 cents per. Then in tax reports I undo back
into miles so that tax software can do the multiplication. I have not read
the linked report and I use Money 2006 Deluxe, rather than the Business
edition.

"Dick Watson" wrote:

> Put another way, what part of the link I sent you to made this sound harder
> than Excel? Create an account, enter transactions. Seems like that's as
> simple as anything in Money can be. Everything else is about whether you
> want the balance of that account to reflect anything in reality and not
> distort the balance of your financial picture as depicted by Money.
>
> "Dick Watson" <littlegreengecko@mind-enufalready-spring.com> wrote in
> message news:eRgvEgR6HHA.5796@TK2MSFTNGP05.phx.gbl...
> > What would you think was simpler? How is doing this in Money, more or less
> > as described in the umpmfaq, more complicated that an Excel solution?
>
>

Mark
Tue Aug 28 19:35:05 CDT 2007


"Glenn" <Glenn@discussions.microsoft.com> wrote in message
news:94E3E9E7-AA94-4B96-8EDA-1589D7AA7C8E@microsoft.com...
>I can't figure out how to put cash business meals into money. The only
>place
> seem to be in the checking account, but it was CASH.

The way to think of it is this: Where do you get the cash from? Most likely
it is either a withdrawal from the checking account, or you perhaps you get
a check from your company and "cash" it at the bank turning it into cash.

You should create a "Cash" account. For example:

Checking account balance = $500

Withdraw $100 cash. Make this a transfer from the checking account to the
cash account (because right after this withdrawla, you still have $500, only
it is $400 in checking and $100 in cash.

Pay for meal, $50. Make this a transaction in your cash account, with
'Payee' the name of the restaurant, and category "Business Expense: Meals"
or something like this.

Now the cash account contains $50 and the expense is taken in the category.

Next day you have another meal, and it cost $75. You notice you have only
$50. So you use your checking account's debit card. So the payeee is the
restaurant, and the category is the same "Business Expense: Meals". Now
checking account goes to $275, Cash account is still $50 and total expenses
is $50 + $75 (0r $125).

Hope this helps.

Mark