Budgeting Summary 1 - first draft

Matthew Vanecek mevanecek at yahoo.com
Tue Sep 9 19:03:45 CDT 2003


<quote who="Rick Ziegler">
> On Tue, 2003-09-09 at 07:03, Darin Willits wrote:
>
>> I like this idea, and I agree that it could solve the problem of
>> multiple savings goals residing in one physical account.
>
> Great! :)
>
>> To be certain you would have a budget category associated with your
>> saving goal so that you could budget and track your contributions to
>> your savings goal.  But the savings goal itself will be modelled as a
>> separate entity (much like an account).
>
> This is an interesting idea.  I had outlined two methods for
> automatically "funding" the savings goals.  A third option could be
> manual account style transactions.
>
> Drawbacks to that method are that now we need access to a register
> within the reporting system, and each transaction would need to be
> entered manually.
>

Perhaps it would be possible to use Budget Sub-categories, much the same
as you use sub-accounts.  You have a main Savings category.  Under that
you have (prioritized a la Rick) Truck, New Home, and Boat.  The Savings
category is tied to Assets:Savings.  On a report, accumulated deposits to
Assets:Savings are split between Truck, New Home, and Boat based on the
priority.  Overflow is relegated to Savings, while underflow is reported
beginning with the lowest priority item, where equity is that the sum of
Truck, New Home, and Boat = your total Savings goal, and you deposit that
amount to Assets:Savings.

Again, just brain-storming...

Matt




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