Gnucash and 529 plans
Steve Kelem
steve at kelem.net
Sat Mar 24 22:21:31 EDT 2018
I have a question about recording 529-plan transactions in GnuCash.
Not the basic movement of funds between checking and 529 account, as
discussed 7 times in the GnuCash archives.
There are two aspects of the 529 plan. The first is getting money into
and out of the 529 account. Easy peesy. Already solved.
The second is making sure that all of the expenditures for the 529 plan
(tuition, books, room and board), are matched by a corresponding
withdrawal from the 529 account. That's the part that I don't
understand how to do. The payment transaction already has a source (my
checking account) and a destination (the account representing how much
I've paid to the university. Similarly for the 529 account
disbursement. How do I keep track of whether I've requested enough
disbursements?
Ideally, when I pay for tuition, for example,
1. The funds go out of my checking account into the university
2. I need to make a disbursement request from my 529 plan
3. The disbursement gets deposited into my bank account.
(Repeat for books, room & board...)
My usual problems are remembering to make the disbursement request, and
not being able to check that I don't miss a disbursement request or
make a duplicate request.
It would be nice if there were an account that got a copy of the
tuition payment and a corresponding debit for the disbursement request.
If the account balance is zero, they I'm presumably up-to-date. If the
balance is positive, I need to request a disbursement.
Is there such a mechanism?
Thanks for any help you can give,
Steve
More information about the gnucash-user
mailing list