[GNC] Confused About Budgeting monthly transfers

[larry johnston]

Jon,

If I understand your question, it relates to transferring or spending money
going into an IRA. I had a similar problem with RRSP's in Canada. When you
transfer funds they aren't actually spent even though you have them in an
account that you can't use. My solution which I am sure is not proper
accounting, but seems to work for me, was to set up a separate  GNUCash
file for RRSP's and then instead of transferring the money I spent it in my
main file and recorded it in the RRSP file. Then my budget worked for me.

Larry

On Wed, Jul 15, 2020 at 3:17 AM Jon Griffith <jon at jongriffith.com> wrote:

> I'm a first time user of gnucash and I've run into a challenge that I can't
> figure out.
>
> Preface:  My budget is a plan.  My budget is a zero based budget, meaning
> that I start with the income I'm expecting, and I "spend" all of it until
> nothing is left every month.  Part of that "spending" is transferring $$
> into savings, which is a net zero Income/Expense transaction.
>
> Hypothetical:  Every month I receive $3000 net.  I need to "spend" 15% of
> that by moving it to my Roth IRA.  So, I transfer $450.00 to my IRA from my
> Checking account (Liquid to Non-liquid asset transfer).
>
> I would figure that on my Budget, I could enter $450.00 as a value for the
> IRA asset account and it would be subtracted from the total at the bottom
> of the budget in the "transfer" row thereby reducing what I have left to
> spend for that month.
>
> Problem:  Some asset accounts affect the transfer value on the budget and
> some don't.
>
> I understand how to do a transfer from a register, but "planning" for that
> transfer such that it affects the budget bottom line seems to be spotty.
> What am I missing?
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