Split Transactions with variable amounts
I have a recurring transaction where the dollar amount varies, but the amount is split between two categories. Here's the example:
The payment is to a gas utility, a fixed amount each month goes to a low-income heating fund, the remainder goes to my utility bill. I can setup the fixed amount (say, $10/month), but how do I designate that the remainder goes to my utility expense account?
Comments are currently closed for this discussion. You can start a new one.
2 Posted by -Kevin N. on 05 May, 2010 11:27 PM
Hi mikes.sweeps,
Would this do? Create a reminder for the utility as a split txn. Enter the fixed amount as you normaly would but leave the $ amount blank for the variable portion . Fill it in when it's time to enter the txn.
HTH -Kevin N.
3 Posted by MikeL on 06 May, 2010 12:36 AM
Will it work? Yes. Should it be necessary, though? When posting the transaction the application should be smart enough to say that the remaining amount is posted to the last entry in the split.
--- On Wed, 5/5/10, kmnugent <***@tenderapp.com> wrote:
From: kmnugent <***@tenderapp.com>
Subject: Re: Split Transactions with variable amounts [Switching from Quicken]
To: ***@yahoo.com
Date: Wednesday, May 5, 2010, 7:30 PM
4 Posted by -Kevin N. on 06 May, 2010 01:12 AM
Hi mikes.sweeps, I'm not sure I follow you. The total amount of a split txn. is equal to the sum of the splits. How could there be a remainder?
-Kevin N
5 Posted by MWA_LAS on 06 May, 2010 02:53 AM
I think what Mike is saying is this... Say you have a split transaction where the total is $50. When you enter the first split details with an amount of $33.00 as you tab (I wish) to the next line or click to "add split" that remaining amount ($17.00) should go into the next amount field on this second line... and should one only put $10 on this second line and then add another split, the remaining $7.00 should then be put into the next amount field.
I agree with Mike that this is how it should work and would make the date entry faster.
Marty
6 Posted by -Kevin N. on 06 May, 2010 03:55 AM
Hi Marty,
There can only be a split txn of $50 if and when the sum of the splits equals $50.
The total amount of the split txn ($50) is determined by the addition of splits to the txn. It's not determined beforehand by the user and then built up to meet that amount. If you change the amount of one of the splits, in a $50 split txn. you'll no longer have a $50 txn.
If you click in a pre-existing split in your register, so that it's in edit mode, the total amount displayed is not editable.(it greyed out) If the developers were to make it so that it's editable, then that might be a start to being able to accomplish what you're thinking.
-Kevin N.
7 Posted by MikeL on 06 May, 2010 09:16 AM
Here is what I am saying:
I setup a recurring transaction for $100, divide it as Charity $30, Gas $70. When the bill is actually paid, since gas usage varies each month, it comes in as $53.94, the last entry on the split should automatically adjust for the difference so that the split comes out to: Charity $30, Gas $23.94.
But, yes, I agree with Marty that when I am initially setting up the recurring transaction that the split should open with the first line saying $100, then when I enter Charity $30 the second line should automatically contain $70; should I then enter Taxes $10 the third line should populate with $60.
8 Posted by -Kevin N. on 06 May, 2010 03:41 PM
Think of it this way, your recurring split transaction consists of two txns. one for $30 and the other for $70 equalling $100.
The amount of each of the split txns is not gleaned from the total, it's the other way around, the total is gleaned from the sum of the splits -Kevn N.
9 Posted by MikeL on 06 May, 2010 09:20 PM
You're not comprehending. The transaction is saved as a recurring transaction for $100 (30/70), but when it comes due the actual amount is $75 (30/45). What I want is to be able to enter $75 in the payment field and have MD adjust the amount so that I do not have to open the split and adjust the amount there.
10 Posted by MWA_LAS on 06 May, 2010 09:30 PM
Yes, this would be nice. Hopefully, MD people can look at how Quicken 2007 for the Mac does splits (as much as I hate to give them any credit). This is a smooth and quick way to enter a total amount (say of a charge or payment). Then when you indicate you need to split such transaction, it goes into as many lines (splits) that you want to do simply by tabbing and the amount field keeps updating (to the balance left) as you enter date.
I'd suggest MD check it out in Q2007. The programers should update MD to this type of split entry.... in my humble option.
Regards,
Marty
11 Posted by -Kevin N. on 06 May, 2010 10:05 PM
Hi mikes.sweeps, If I may make a suggestion, you should post a Trac ticket for it.
http://moneydance.com/trac
-Kevin N.
Support Staff 12 Posted by Tom Freeman on 07 May, 2010 04:40 AM
Hi Mike,
Kevin is right you should put a ticket in for the developers to look into this. Currently you do have to manually adjust the correct figures on both sides of the split.
Tom
Angie Rauscher closed this discussion on 24 Jul, 2011 07:48 PM.