[Fwd: tracking cash]

[Carol Champagne]

This is a multi-part message in MIME format.
--------------060609030105000401050509
Content-Type: message/rfc822;
 name="Re: tracking cash"
Content-Transfer-Encoding: 7bit
Content-Disposition: inline;
 filename="Re: tracking cash"

>From - Wed Apr 04 20:34:51 2001
X-Mozilla-Status2: 00000000
Message-ID: <3ACBCBBA.4000303@gnumatic.com>
Date: Wed, 04 Apr 2001 20:34:50 -0500
From: Carol Champagne <carol@gnumatic.com>
User-Agent: Mozilla/5.0 (X11; U; Linux 2.2.17pre10 i686; en-US; 0.7) Gecko/20010105
X-Accept-Language: en
MIME-Version: 1.0
To: "Michael P. Soulier" <msoulier@storm.ca>
Subject: Re: tracking cash
References: <20010404211759.A20898@storm.ca>
Content-Type: text/plain; charset=us-ascii; format=flowed
Content-Transfer-Encoding: 7bit

Michael P. Soulier wrote:

>     Hey people. I'm wondering how people track cash in general. I find that I
> withdraw $40-$60 every few days for general expenditures, lunches, etc. Now, I
> created a cash account for that, so I transfer from my bank account to my cash
> account. But, I don't get receipts for everything that I pay for with cash, so
> there will be untracked expenditures. 
>     What do the rest of you do to handle this?
> 
>     Thanks,
> 
>     Mike

Hi Mike,
In the cash account:
I enter the cash receipts I have, estimate the amounts for purchases I 
made without receipts, then do an adjusting entry to match up the 
account total to what's left in my wallet.  My adjusting entry would be 
a transfer from the cash account to an "Adjustments" expense account 
(call it "Misc." or whatever---just a catchall expense account for 
uncategorized expenses.)

Hope that helps.

Carol


--------------060609030105000401050509--