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Subject Author Date
How to allocate money in account? Chips 07-30-2007
Posted by Chips on July 30, 2007, 2:17 pm
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 Using QB Contractor 2006, is there a good way to allocate money you are
given for future expenses to assist in not spending that money for something
else?

GC



Posted by Allan Martin on July 30, 2007, 5:17 pm
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> Using QB Contractor 2006, is there a good way to allocate money you are
> given for future expenses to assist in not spending that money for
> something else?


Tie a string around your finger.




>
> GC
>



Posted by Chips on July 30, 2007, 7:48 pm
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There would be so many strings I would have to label them all.

And I would end up losing circulation and amputating my fingers.

GC

>
>> Using QB Contractor 2006, is there a good way to allocate money you are
>> given for future expenses to assist in not spending that money for
>> something else?
>
>
> Tie a string around your finger.
>
>
>
>
>>
>> GC
>>
>
>



Posted by hatesspam on August 3, 2007, 2:05 pm
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> Using QB Contractor 2006, is there a good way to allocate money you are
> given for future expenses to assist in not spending that money for
> something else?
>
Well, I had a similar situation in that my partners tended to see my bank
balance as 'half full' rather than the 'half empty' it was when you took the
accounts payable into effect.

So, I created a 'Balance transfer' - moving funds from the operating account
into 'Cash'. Viola! The balance in the operating account reflects what is
really available. When I reconcile the bank statement, I leave the 'balance
transfer' uncleared.

Now, to be more elegant or accurate, you might create a new account - maybe
a 'current asset' account - and call it 'Earmarked for future'. At the time
you wish to pay the expense, you can either create a 'reverse' transfer - or
simply delete the initial transaction (not sure how that would affect the
bank reconciliation reports).



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