Medical Aid and Other Rebates

I would like to see the option to link certain debits and credits together so as to offset one another.

 

Specifically thinking along the lines of Medical Aid or Gap cover paying back money into your accounts for a something that you paid for up front so that you can then offset the two transactions against each other as they are quite obviously linked.

 

Same can apply in a situation where a refund was issued against a given purchase.

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Comments

6 comments
  • Hi Shaun,

    Thanks for the feedback. I'll pass this on to the rest of the team.

    As it stands now, the best way to handle inter-account transfers and reimbursements is to use the Transfer spending group.

    In this way, you can prevent duplicates caused by transferring from one linked account to another in your Budget. We cannot link transactions across account, since we cannot assume at any level that two transactions are linked to one another.

    In order to help with refunds, you can mark each corresponding transaction as Transfers as well so that they do not reflect in your Budget as expenses or income.

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  • Yeah that is how I do it at present but most cases the rebate isn't a 1:1 ratio with the expense and therefore don't want to mark both as a transfer.

     

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  • Hi Shaun,


    In your case, the best way to handle this is to split your initial expense into two parts - the part that's gone out of your account and the part that has been reimbursed.

    You chance the reimbursed part to Transfer, as well as the corresponding rebate.

    You are then left with only the part that you've not been reimbursed for.

    Does this help at all?

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  • That is exactly how I do it now.

     Would just be nice to see an interlink of transactions historically.

    Even better an automated one like my phone that gets rebated monthly so I could quickly glance and see if it happened or not.

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  • If I pay a doctor for example and it costs me R1K then the category is health and medical. When my medical aid reimburses me say, R600, then I assign it as íncome in the health and medical category. That way the actual spend is R400

    I haven't used the reporting too much but does 22seven than calculate as I've intimitated?

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  • Hi Manish

     

    If I understand correctly, the best way around this would be to split the initial expense transaction into 2 parts, one of R400 and one of R600. Then mark the R600 incoming and the R600 outgoing as 'Transfers'. This will "balance the books" and leave only the R400 reflecting as an expense.

     

    All the best,

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