How to account for "saving up for X"?
Derek Atkins
warlord at MIT.EDU
Sun Sep 26 20:13:43 EDT 2004
Phil Longstaff <plongstaff at newearth.org> writes:
> On Sat, 2004-09-25 at 09:12, Mark H. Wood wrote:
>> -----BEGIN PGP SIGNED MESSAGE-----
>> One problem is in putting the money into the "dedicated" accounts. When I
>> deposit money in the bank, the left entry goes to the bank account and the
>> right is already claimed: it goes into income:salary. So I need another
>> transaction to dedicate a portion of the money I just banked, and that
>> needs two accounts. I can take it from expense:vacation but to where does
>> it go? Since it represents money in my possession, it's an asset, but
>> what is it and where should it lie in the account hierarchy?
>
> I would create an Equity:vacation account and put it there.
Another option is a subaccount. You can get the total value in the
account tree by compressing the tree at the bank level, and you can
see the individual budget bucket values by expanding the tree.
> Phil
-derek
--
Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
Member, MIT Student Information Processing Board (SIPB)
URL: http://web.mit.edu/warlord/ PP-ASEL-IA N1NWH
warlord at MIT.EDU PGP key available
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