[GNC] How to track Family expenses ?

Long Phamhoanglongvn at outlook.com
Thu Mar 12 05:13:39 EDT 2020


Hello,

Explain : 
I want to track how much i or my wife spent for our family. So, I had
"Expense:Family" and "Assets:Family" account, we (me and my wife) will
transfer money when i or her buy foods for our family.

Example :
*Assets:
- Me
---- Checking
---- Cash
- Her
---- Checking
---- Cash
- Family
*Expenses:
- Family :
--   Food :

Step 1 : We transfer "Assets:Family" to "Expenses:Family:Food".
Step 2 : If that bills are from me (pay with Checking), i will transfer my
money to "Assets:Family" from "Assets:Me:Checking".
That practice made easier to track how much money i (or my wife) spent for
our family.
1 - Know how much money "each persons" pay for family
2 - Know Total "Family expenses".

And 2 more questions :
1-  if i bought foods with my credit card, what should i do ?
Should i transfer from "Credit Card" to "Foods" ? then i will make a payment
to "Credit Card" from "Assets:Family", and then transfer my money from
"Assets:Me:Checking" to "Assets:Family" ?
2 - Should i place "Family" account to make expense in Assets or in
Liability ?

Regards.



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