Update Cash account documentation
Reported by Virgil Dupras | May 4th, 2011 @ 08:48 PM
A user recently had to deal with a situation where a large amount of cash was kept at home. His solution is worth adding to the documentation:
- Created a "Cash Reserve" asset.
- Renamed "Cash" expense to "Cash Wallet"
- When I withdraw money via ATM I make a transaction from
"Checking account" to "Cash Wallet"
- When I pay for something with cash I make a transaction from
the "Cash Wallet" expense to the appropriate expense.
- When I receive an ammount of money in cash, I put it in the
"Cash Reserve" asset (let's say it's a safe at my house, or a
drawer, but not my wallet).
- Because I have cash at home, I don't need to withdraw from my bank account, that's why when I want to spend it I make a transaction from "Cash Reserve" to "Cash Wallet", then I continue with step 4 above.
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