Netting off unusual expenses against income

Hi there,

Love this tool. Amazing. Like manna from heaven after many painstaking months manually trying to categorise things.

One question. I collected money from a number of people for a gift for someone. So I got about R4k into the account in lots of R200 per person. Then I paid out a lumpsum of R4k, so the net effect on my account is nothing.

I am confident there is probably a way I can allocate the all the various 'pay-ins' against the final payout so that they don't distort the look of the account?

Can you please share with me how to do that.

Many thanks
Justin

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3 comments
  • Hey Justin. Wow, thanks for that awesome vote of confidence. Fantastic to have you on board!

    We like to show you how money coming into and going out of your linked accounts affected your cash flow when it happened, so there is currently no way to net these amount off against each other.

    You could perhaps mark the individual R200 payments and the R4000 lumpsum as 'transfer'. That way those amounts are hidden from all your Money Month totals. Would that work for you?

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  • Great app, did my initial download and busy asigning. I have a bunch of questions and the above is also a problem for me. I often have money coming in which in actual fact I want to net off against a expense. Some examples.

    Gifts as per example above
    Car rental - they take a deposit of 4k and return 3,5k after rental
    Holiday accommodation bookings - You pay for the whole holiday for 3 families and the other 2 pay you back.

    If you have enough of these the expenses and income is overly inflated and you lose the true sense of what your actual income is. Please consider giving the user the option to choose a income as a expense for the same category.

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  • Hi there Jaco,

    Thanks for the feedback regarding this issue. Unfortunately we have not made any changes to the way we categorise these types of transactions yet, so the answer Andre gave above is still the only way to work around this.

    Do note that you are able to split transactions, so this may help when you look at your holiday situation, splitting the transaction to show your expense and then marking the rest of the transaction as a 'transfer'.

    I hope this makes sense.

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