Having trouble with Splits

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Having trouble with Splits

Postby freakyfoodcdn » Sat Mar 21, 2009 9:15 am

I currently use MyMoney for my personal use (no business) and love it, but I'm having a problem that I'm not sure if it's user error, or I just don't know how to do it correctly. Sometimes when I purchase something I use X dollars cash and X dollars with my debit card/credit card. I'm unsure how to do that using a split so it stays in one transaction. Every time I try to do it in a split transaction, the leftover becomes a deposit, not a withdrawal. I'll give an example. I buy $100 of items from store A. I put $50 on my credit card, pay $50 in cash. When I go to enter the receipt into MyMoney, I want to keep track of the $50 from cash and the $50 from the credit card. Right now I have to enter two separate transaction, one in each account, but it gets confusing and complicated when I'm doing month's end. We're tracking our spending as closely as possible so it might be more in depth than other people's bookkeeping. It's my only problem with the program and I'm not sure if it's the program or me.

can you explain how to do it or if it can/can't be done? Thanks!
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Re: Having trouble with Splits

Postby mthadm » Sat Mar 21, 2009 10:34 am

It is hard to properly model because if you look at your credit card statement they don't know that you paid $50 from cash, as far as the bank is concerned they loaned you $50 and that is what on the statement.

If you want to model transaction after the store receipt capturing the whole $100, then create a new transaction outside of Credit card register, create a new split transactions and create two split transfers, (category - Special, sub-category - Credit Card), put -50 in the amount indicating that money is being taken from Credit Card and Cash.

You will have a split transfer transaction, the total will be $100 and it will be comprised of $50 taken from credit card and $50 taken from cash

It will be difficult to reconcile because the credit card statement and store receipts are different in this case.
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