"Sub Account" help

I think a similar situation was covered in another post, but I must be 
missing something. I'm new to Money, so I apologize if this was covered 
elsewhere.

I "accrue" funds in my checking account for things such as property tax and 
other items that I only pay once or twice a year.  The accrued portion also 
includes a reserve for emergencies.  I keep a separate running balance for 
the accrued items, so my checking account register only shows the amount I 
have available for other spending.  In other words, my actual balance is the 
"accrued" portion plus the "other spending" portion.

I don't want to set up a separate account for the accrued portion  because 
the money is still physically in my checking account, and downloaded 
information wouldn't match my checking account register. I was thinking about 
using a Classification for the accrued items,  but I wasn't sure how to set 
this up.  Any suggestions would be appreciated.

Thank you.
-- 
Kelsey
0
KelseyG (12)
2/28/2008 5:08:00 PM
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People who really want to see the problem in this "cookie jar" model never 
like this answer, but Money just really doesn't support this model well at 
all. You WILL See this money in your account balance. If seeing it there 
encourages you to spend it, then you will likely spend it.

Money's model is this: plan/project your income and expenses sufficiently to 
KNOW that you will have enough money to make these payments. Check as you go 
along to make sure that your income and expenses are within the plan that you 
already KNOW will have sufficient funds for these occasional expenses. When 
the time comes to pay the occasional expense, voila!, the money is there. No 
cookie jars. No subaccounts. The math just works.

If you can't cope with that model for one reason or another, you will have a 
really hard time coercing it to support the "cookie jar" model. People have 
come up with ways to fake this out, more or less, but mostly less.

There has been a lot written about this which you can find in the archives 
of this newsgroup at http://groups.google.com; do an advanced search of 
newsgroup microsoft.public.money with search terms like subaccount and cookie 
jar and budget and cash flow.

"Kelsey G" wrote:

> I think a similar situation was covered in another post, but I must be 
> missing something. I'm new to Money, so I apologize if this was covered 
> elsewhere.
> 
> I "accrue" funds in my checking account for things such as property tax and 
> other items that I only pay once or twice a year.  The accrued portion also 
> includes a reserve for emergencies.  I keep a separate running balance for 
> the accrued items, so my checking account register only shows the amount I 
> have available for other spending.  In other words, my actual balance is the 
> "accrued" portion plus the "other spending" portion.
> 
> I don't want to set up a separate account for the accrued portion  because 
> the money is still physically in my checking account, and downloaded 
> information wouldn't match my checking account register. I was thinking about 
> using a Classification for the accrued items,  but I wasn't sure how to set 
> this up.  Any suggestions would be appreciated.
> 
> Thank you.
> -- 
> Kelsey
0
2/28/2008 10:08:05 PM
Don't know if you would be interested but you might consider opening a money 
market acct with a place like Vanguard and transferring your "accrued" funds 
to that separate account instead of tracking two different running balances 
in your checking acct which probably does not pay much interest.

I save money using that technique and simply make periodic electronic 
transfers from checking to the money mkt acct which, of course, 
automatically keeps a running balance so you always know exactly how much is 
available and you earn higher interest as well.  When I need some of the 
"accrued" money for property taxes or whatever I simply use an electronic 
transfer from the money mkt acct to the checking acct.

To me trying to account for the "accrued" funds with classifications or 
otherwise would be too much trouble and may not work very well in any event.

Regards

Bill Wood


"Kelsey G" <KelseyG@discussions.microsoft.com> wrote in message 
news:EA736928-883D-4B97-9BB4-FA382B05654A@microsoft.com...
>I think a similar situation was covered in another post, but I must be
> missing something. I'm new to Money, so I apologize if this was covered
> elsewhere.
>
> I "accrue" funds in my checking account for things such as property tax 
> and
> other items that I only pay once or twice a year.  The accrued portion 
> also
> includes a reserve for emergencies.  I keep a separate running balance for
> the accrued items, so my checking account register only shows the amount I
> have available for other spending.  In other words, my actual balance is 
> the
> "accrued" portion plus the "other spending" portion.
>
> I don't want to set up a separate account for the accrued portion  because
> the money is still physically in my checking account, and downloaded
> information wouldn't match my checking account register. I was thinking 
> about
> using a Classification for the accrued items,  but I wasn't sure how to 
> set
> this up.  Any suggestions would be appreciated.
>
> Thank you.
> -- 
> Kelsey 


0
w.wood (230)
3/1/2008 12:01:22 AM
Reply:

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