Tracking Money in Savings Account

[Derek Atkins]

Wayne Bird <wrbird at hotmail.com> writes:

>> (2) Your account structure looks like it's (way?) too complicated. You
>> need an account for checking and one for savings (Assets:Current:Checking
>> and Assets:Current:Savings). You need Expenses:Healthcare:Dental. You need
>> Liabilities:Dentist. You need something like Income:Inheritance. I think
>> that's it, for this transaction.
>
> This is where I'm getting really confused.  I thought I was following the
> subaccount structure that Derek talked about and I confirmed in a previous
> e-mail:

You only need to follow the subaccount structure *IF YOU ARE TRYING TO
BUDGET FOR FUTURE EXPENSES*.  For example, if you're trying to budget
for a TV, saving $50 each month to build up the $2000 for that TV, that
would be when you'd want a Savings (or Checking) Subaccount.

However in this case the subaccounts don't make sense.  You're just
using them as passthrough accounts, not as budgeting envelopes.

>> > Please remember to CC this list on all your replies.
>> > You can do this by using Reply-To-List or Reply-All.

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
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