Separating funds virtually

[gpisani]

Hi,

I'm looking help for two use cases:

1) Is there a way to reserve an amount like a virtual moneybox? I have 1000 on XYX Account (Bank), I want to reserve 200 of that amount but I don't want really move that from there (I can't open a real bank account for every monebox to separate funds).

2) I have a monthly transaction (expense account) - but the creditor delays several months to ask for the payment, so I can't make them "reserved' until the transaction really happens, but I want they are considered debt and at same time the track when the expense really "born" (monthly).

I've found a solution, but I don't know if it ok and if it could exists a shortcut to accomplish it. In particular I don't like to use the cash bank as bridge:

Cash (Bank)
Account LoremIpsum (Liabilities)
LoremIpsum (Expense)

Every month I do:

Account LoremIpsum (Liabilities)	Cash (Bank)	30
Cash (Bank)	LoremIpsum (Expense)	30

so:
Account LoremIpsum (Liabilities): -30
Cash (Bank): 0
LoremIpsum (Expense): -30

then, I can have a real transaction payment from a bank account to that liabilty account.

 

[stanbusk]

About your first question, right now iCash doesn't allow that, you can't really block funds in any way. Actually iCash works as in real life. So I guess the only solution would be to create some kind of asset account and move the money there. Not sure how iCash would handle that (in term of report and number display). If you think of a better solution that would need to be added to iCash...

About your second question, I guess you are talking about what is called in accounting as 'Accounts receivable (AR)', Google say: 'Accounts receivable (AR) is the balance of money due to a firm for goods or services delivered or used but not yet paid for by customers. Accounts receivables are listed on the balance sheet as a current asset. AR is any amount of money owed by customers for purchases made on credit.' https://www.google.com/search?client=firefox-b-d&q=account+receivebled si I guess what you do is correct. I also read this: 'The amount of accounts receivable is increased on the debit side and decreased on the credit side. When cash payment is received from the debtor, cash is increased and the accounts receivable is decreased. When recording the transaction, cash is debited, and accounts receivable are credited.'

—
Stan Busk - Software Engineer
at www.maxprog.com

 

[gpisani]

About the first question, it could be handled by a balance type that is ignored in the profit and loss transactions.
For example the type can be named "Money box" (a soft of a liabilitiy against ourself).

I can create more Monay Box account, based on personal purposes (holiday, unaspected problems, etc..). I can choose to feed them freely or by autotomatic transactions.

A money box transaction have to be covered by the (Bank+Portfolio) funds or by the (Bank+Portfolio+Asset+Liability) funds - . A user can choose also a max % limit to dedicate to the money box accounts.
If the money box accounts exceed that funds, the negative amount showed in the virtual derived account (see example) becomes red.

Example:

Cah account: 100
Bank account 1: 1200
Portfolio account 2: 800
---
Money boxes: 0
----
50% (Bank+Portfolio) virtual derived account: 1050

I choose a 50% limit of (Bank+Portfolio), so I can have max 1050 to dedicate to money box accounts. That shoud be a virtual derived account that allows to take advantage of the transaction model.

Transactions:
50% (Bank+Portfolio) Virtual account ==> Holiday: 20
50% (Bank+Portfolio) Virtual account ==> Dream X: 10

Cah account: 100
Bank account 1: 1200
Portfolio account 2: 800
---
Money boxes: 30
----
50% (Bank+Portfolio) virtual derived account: 1020

In the balance view you can display optionally also +(-Money Boxex)

 

[stanbusk]

Well... there is an account type that is not visible by default but can be through the preferences. It is called 'Capital'.
If you set your Money boxes to type 'Capital', they will be ignored in the balance.

Have you tried this option?

—
Stan Busk - Software Engineer
at www.maxprog.com

 

[gpisani]

it is ignored by the balance but that is not that the point (the money are really moved to be part of a capital account).

 

[stanbusk]

From the preferences, I believe you can set iCash to display this type in given places.

 

[gpisani]

the problem Stan, is that not only the transaction have not to be in the balance, but also the money have to remain phisically in a account.
The separation shoud be only logical.

Since a transaction require a "from" and a "to" the suggestion was to create an origin virtual account, based on a % (choosed by user) of the sum of (Bank+Portfolio+Liability) funds: the limit of the "monebox" available.
The "to" shoud be a moneybox or a capital accounts - so, the money are not really moved from where they are (bank, portfolio etc): they would be only logical partition.