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#7
01-02-2004, 09:30 PM
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 Re: returns Won Lee wrote: - quote - > Mike Guttman wrote:
No, I just leave it that way since it is technically correct. If you show> > I categorize both purchase and rebate as "Computer: Software" (or > > whatever the appropriate purchase category) in case the rebate doesn't > > cover the complete cost of the purchase. > > Yeah that works even better. Another quick question for you. > What do you do when the funds cross multiple accounts. > For example: > You purchase MS Money on your CC. You get the rebate check in the mail. > You deposit it into your checking account. On a general-level your > accounts will balance out, but the transactions don't necessarily cancel > out nicely. Have any problems with this? transactions for that category or for that payee, then everything cancels out. That has been good enough for me. |
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#6
01-02-2004, 09:20 PM
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| Re: returns Mike Guttman wrote: - quote - > I categorize both purchase and rebate as "Computer: Software" (or
Yeah that works even better. Another quick question for you.> whatever the appropriate purchase category) in case the rebate doesn't > cover the complete cost of the purchase. What do you do when the funds cross multiple accounts. For example: You purchase MS Money on your CC. You get the rebate check in the mail. You deposit it into your checking account. On a general-level your accounts will balance out, but the transactions don't necessarily cancel out nicely. Have any problems with this? |
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#5
01-02-2004, 09:06 PM
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| Re: returns I categorize both purchase and rebate as "Computer: Software" (or whatever the appropriate purchase category) in case the rebate doesn't cover the complete cost of the purchase. Won Lee wrote: - quote - > Won Lee wrote: > > Mike Guttman wrote: > > > > I give both transactions exactly the same category. They would both > > > be expenses, one with a positive amount, the other with a negative > > > amount (I ignore the warning), and they cancel each other out. This > > > has been working fine for me. > > > > > Ahh good call. Thanks. > > What about rebates from purchases, like the one I got when I purchased > > MS Money 2003? > > Blah didn't think it through before I started to type away. anyways, I > added in a category for rebate in expenses and will put in a negative > value to cancel the portion the rebate covers. > Thanks |
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#4
01-02-2004, 08:44 PM
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| Re: returns Won Lee wrote: - quote - > Mike Guttman wrote:
added in a category for rebate in expenses and will put in a negative> > I give both transactions exactly the same category. They would both > > be expenses, one with a positive amount, the other with a negative > > amount (I ignore the warning), and they cancel each other out. This > > has been working fine for me. > Ahh good call. Thanks. > What about rebates from purchases, like the one I got when I purchased > MS Money 2003? Blah didn't think it through before I started to type away. anyways, I value to cancel the portion the rebate covers. Thanks |
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#3
01-02-2004, 08:40 PM
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| Re: returns Mike Guttman wrote: - quote - > I give both transactions exactly the same category. They would both be
Ahh good call. Thanks.> expenses, one with a positive amount, the other with a negative amount > (I ignore the warning), and they cancel each other out. This has been > working fine for me. What about rebates from purchases, like the one I got when I purchased MS Money 2003? |
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#2
01-02-2004, 08:39 PM
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| Re: returns Mike Guttman wrote: - quote - > I give both transactions exactly the same category. They would both be
Ahh good call. Thanks> expenses, one with a positive amount, the other with a negative amount > (I ignore the warning), and they cancel each other out. This has been > working fine for me. |
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#1
01-02-2004, 08:27 PM
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| Re: returns I give both transactions exactly the same category. They would both be expenses, one with a positive amount, the other with a negative amount (I ignore the warning), and they cancel each other out. This has been working fine for me. Won Lee wrote: - quote - > Won Lee wrote: > > Hello, > > > Let's say I buy something from Store A with my credit card. > > I enter the transaction into Money 2003. > > In a week I go and DL the transaction for my CC and accept the charge > > from Store A. That same day I decide I no longer what the item > > purchased from Store A. I go and return the item. A week later I DL > > a credit for my CC. > > > What is the best way to record these transactions? I suspect that > > categorizing it as Other Inc is not the best way to do it especially > > if I want to just Export my transactions to TaxCut or TurboTax. > > Another example would be getting a reinbursement check for something I > purchased out of pocket. Don't want to pay more taxes then I need to. -- --- Mike Guttman e-mail: mguttman at yahoo dot com |
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01-02-2004, 08:14 PM
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| Re: returns Won Lee wrote: - quote - > Hello, > Let's say I buy something from Store A with my credit card. > I enter the transaction into Money 2003. > In a week I go and DL the transaction for my CC and accept the charge > from Store A. That same day I decide I no longer what the item > purchased from Store A. I go and return the item. A week later I DL a > credit for my CC. > What is the best way to record these transactions? I suspect that > categorizing it as Other Inc is not the best way to do it especially if > I want to just Export my transactions to TaxCut or TurboTax. Another example would be getting a reinbursement check for something I purchased out of pocket. Don't want to pay more taxes then I need to. |
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#-1
01-02-2004, 08:11 PM
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| returns Hello, Let's say I buy something from Store A with my credit card. I enter the transaction into Money 2003. In a week I go and DL the transaction for my CC and accept the charge from Store A. That same day I decide I no longer what the item purchased from Store A. I go and return the item. A week later I DL a credit for my CC. What is the best way to record these transactions? I suspect that categorizing it as Other Inc is not the best way to do it especially if I want to just Export my transactions to TaxCut or TurboTax. |
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