Combination envelope/account split for transaction

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  • Idea
  • Updated 4 years ago
It would be nice to have an option to split a transaction between accounts and envelopes in the same transaction. I have a petty cash account setup to handle cash transactions. This type of transaction is needed when getting cash back during a normal purchase. Currently, one has to transfer the entire amount to petty cash and then split out each envelope amount leaving the cash withdrawn or in wallet in the petty cash account. This type of transaction would be much easier if one could just split the amount spent into the appropriate envelopes and the amount withdrawn into a petty cash account.
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fedburin

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Posted 9 years ago

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Steven Tafzil, Employee

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Hi fedburin,

Thanks for the suggestion. You're right, being able to split transactions between accounts as well as envelopes would be a better way to handle the cash-back scenario.

As an alternative to what you're currently doing, however, do you think it would be easier to record the transaction as a expense minus the cashback amount? (So a $25 transactions with $20 cashback would be recorded as a $5 transaction?) Then do a single Account Transfer to your Cash Account to represent the cashback?
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fedburin

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That scenario only works if you don't plan on reconciling your account. The transaction must match the amount in order to properly reconcile the transaction.
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Steven Tafzil, Employee

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You're absolutely right!

What about an expense for the full amount, and then a Credit/Refund for the cashback value to a Cash Account? I think that should work, right? It would let you adjust the expense for the Envelope to the proper amount, and it would avoid the Account Transfer, which would let you do everything from the App.

Your original suggestion still holds though, an account split would let you do everything in one transaction.
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fedburin

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That does sound marginally easier than the way I was doing it. I may give it a shot; however, it may be harder for my wife to understand that she needs to randomly assign the cash value to an envelope and then credit the amount back. The type of transaction where this becomes difficult is when multiple splits are involved. I will have her give it shot and post the results. Of course this is a work around. IMO the best solution is still a split envelope/account transfer option. Thank you for you prompt reply.
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michael.handorf

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If you're considering splitting envelope / accounts, please consider splitting envelopes / tags.

For example, on many occasions, I'll have a charge at Costco that is coming out of the envelope 'Food' (say $80). But then I want to split out the alcohol costs ($25, as #alcohol), actual food costs ($40, as #food) and then the remaining $15 as coffee (#coffee). Today, I have to make three separate entries, all to the Food envelope, in order to 'tag' them separately. This results in me generating multiple entires for one Costco purchase.
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Steven Tafzil, Employee

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Hi Michael,

Thanks for the suggestion. The best way to split expenses now is to just use different Envelopes. You could even use Envelope groups like:

Food: Alcohol
Food: Coffee
etc.

You could record a single transaction to Costco for $80, then split the expense to the different Envelopes, all in one transaction.

Generally, we think of tags as a way to organize and review expenses that come from more than one Envelope. For example, if you had a certain hobby that included travel and eating out, you could record those in their normal Envelopes but also tag them to get a sense of how much you spend on that hobby overall.

I realize that's not how you'd like to use EEBA now, but hopefully that can give you a better sense of why it's designed the way it is. Hope that helps!
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Heather East

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Let's not forget transactions such as a deposit with cash back that is going to split from different envelopes... It's hard to believe there isn't a way to have 1 transaction that includes both debits/credits. This is a common type of transaction in day-to-day life. Please, please address this soon.
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Becky Huang, Official Rep

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Hi Heather,

It's true that cash back is a transaction that takes a lot of steps in the current way that Goodbudget works. I've added your voice to our requested features tracker.
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Rebecca L. Lynch

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I have subscribed to your software, and I have the same need as what has been mentioned above.  The original post on this thread was 5 years ago.  It's hard to believe that this concept hasn't been added to your software yet.  I don't think I'm going to renew my subscription.
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Karisa Russell, Official Rep

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Hi Rebecca, 

We appreciate having your vote for adding this feature. Unfortunately, we haven't been working on this feature specifically because there are other more requested features that we have dedicated our time to over these past few years. Because we are a small team of people, we have to really prioritize the features that we can work on. Hope that makes sense. 

If you do decide to stop using Goodbudget, we'll be sad to see you go, but we understand. 

Thanks, again.