#251 accepted
Virgil Dupras

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:

  1. Created a "Cash Reserve" asset.
  2. Renamed "Cash" expense to "Cash Wallet"
  3. When I withdraw money via ATM I make a transaction from "Checking account" to "Cash Wallet"
  4. When I pay for something with cash I make a transaction from the "Cash Wallet" expense to the appropriate expense.
  5. 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).
  6. 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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