On Sun, 17 Jul 2005 23:19:52 GMT, "Bgreer5050" <bgreer5050[at]yahoo.comwrote:

- quote -

expense the insurance is a reimbursement for.


<<Remove the del for email>

Or another way to do it is to perform a split on the original expense transaction -

$100 dentist = $25.00 dental expense and $75.00 A/R Insurance reimbursement
When the $75 check is received transfer it to the A/R Insurance reimbursement account to zero the balance.
That way, you can easily keep track of outstanding reimbursements - see how long it takes to receive the check and avoid negative expenses several months later...

just a thought -
"Tom Oviedo" <reply[at]via.newsgroup.com> wrote in message news:eY2SdgziFHA.3608[at]TK2MSFTNGP12.phx.gbl...
I have a category, "Home Exp" and several sub cats, capital improvements
(like adding cabinets in my office or tile flooring), repairs and maint,
furniture and decor (my wife's account), mort interest, insurance, etc.

I assume you had to pay for reapirs for some sort of covered event. I'd just
credit to "Home Exp:Repairs" with a note in the memo, Ins reimb for
<whatever> .

I do this all the time with medical claims. Our kids' dentist doesn't take
our insurance. I pay from "Health Careental". When the check comes in, it
gets credited to that expense category and shows up as a "plus" on the
reports... you know exactly what that was.

My thinking... it's really not income. Income is money you earn from your
job or business... or investment. This is reimbursement for an expense. If
you put it in income, it's not as clear in your reports what that was as if
you classified that credit to an expense category.


"Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
message news:uONovqyiFHA.3316[at]TK2MSFTNGP14.phx.gbl...
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That works as long as you have the refund in the same month, otherwise, your
reports will show the negative expense in the next month. It would be nice
if I could indicate to money that a certain expense has been refunded.

Also, Money really needs a way to have Income categories that don't show up
in the Income reports by default. Refunds, rebates, reimbursements, and
equity increases are not handled very well by Money's reporting.

Tod

"Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
message news:uONovqyiFHA.3316[at]TK2MSFTNGP14.phx.gbl...
- quote -

I could get with that program to--assuming there is some expense it's
offsetting. But it's not offsetting the cost of buying the insurance.

BTW, I wouldn't say it's not income. In a strict accounting--not IRS form
1040--sense it surely is.

"Tom Oviedo" <reply[at]via.newsgroup.com> wrote in message
news:eY2SdgziFHA.3608[at]TK2MSFTNGP12.phx.gbl...
- quote -

I have a category, "Home Exp" and several sub cats, capital improvements
(like adding cabinets in my office or tile flooring), repairs and maint,
furniture and decor (my wife's account), mort interest, insurance, etc.

I assume you had to pay for reapirs for some sort of covered event. I'd just
credit to "Home Exp:Repairs" with a note in the memo, Ins reimb for
<whatever> .

I do this all the time with medical claims. Our kids' dentist doesn't take
our insurance. I pay from "Health Careental". When the check comes in, it
gets credited to that expense category and shows up as a "plus" on the
reports... you know exactly what that was.

My thinking... it's really not income. Income is money you earn from your
job or business... or investment. This is reimbursement for an expense. If
you put it in income, it's not as clear in your reports what that was as if
you classified that credit to an expense category.


"Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
message news:uONovqyiFHA.3316[at]TK2MSFTNGP14.phx.gbl...
- quote -

I don't think I'd do it that way. I have a category, Other Income:Insurance
Proceeds Received for this kind of stuff. This didn't lower the cost of your
home insurance. Setting this income to Insurance:Home will cause problems in
reporting and future budgeting since it will make it look like your
insurance expenses are lower than they really are.

There are other cases where you do want to do this. Example: buy some
Clothing, return some Clothing for credit or your money back. In cases like
this, you just tell Money you know you want to record an income with an
expense category. It'll get over it.

"Bgreer5050" <bgreer5050[at]yahoo.com> wrote in message
news:sIBCe.197$IG2.190[at]newssvr33.news.prodigy.com...
- quote -

I recently received money from an Insurance Claim on my home owners
insurance.

I put it in the Home Insurance category. Money then asks if I want to put
an income in an expense category.

It seems to me that it makes sense to credit the Home Owners Insurance
account.

What would be the disadvantages of doing this?