Best way to earmark funds?

[Victor Chudnovsky]

That sounds like a good idea! I'll try that.

Thanks!

Victor

On Thu, 2007-11-01 at 17:47 -0700, Andrew Sackville-West wrote:
> On Thu, Nov 01, 2007 at 04:15:18PM -0700, Victor Chudnovsky wrote:
> > Hi all,
> > 
> > What is the best way to earmark funds that I'm reserving for a specific
> > purpose?
> > 
> > Say I'm tracking my money in my savings account, but I want to somehow
> > note that $XX is earmarked for a special project (eg a big purchase) so
> > that it is not really available for me to spend on other things. How do
> > I do this? (I still want the savings ledger to reflect the total money
> > in the bank.)
> 
> What I do in my business is have several sub-accounts to my savings
> account. Money gets squirreled away into those sub-accounts as
> appropriate. When I reconcile the savings account, I be sure the box
> for "include subaccounts" or "with subaccounts", something like that,
> is checked. Its a little funky looking in the reconcile screen because
> if you have split deposits with money going into several subaccoutns
> at once, then it shows as the split amounts. But you get used to it
> quickly and it works well. 
> 
> In my situation, money in sub-accounts as available only for its
> earmarked usage. Money in the main account is unallocated and usable
> for whatever. 
> 
> When I make an expenditure for something that is earmarked, I simply
> transfer the money out of that sub-account and into checking or
> whatever. 
> 
> hth
> 
> A
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