MoneyWise
Community
App How To
J
Jim

June 12th

Is the cash account in MoneyWise? It will take two transactions -- one to withdraw from checking and a second to deposit in cash. When the cash is spent, then a third transaction for the expenditure will affect the envelope as you suggest. If you don't track cash this way in MoneyWise, then the first withdrawal from checking must be allocated to an envelope without knowing how it will be spent later. In that case, you could come back later and split the transaction or change the amount and add a second withdrawal transaction.
dsh

June 13th

Yes, the cash account is in MoneyWise. So with two separate transactions, each of them will either be forever highlighted as unassigned or I will need to assign them to an envelope. That sounds like I should create an "Intra-Account Transfer" envelope for this. Does that sound correct, or will that cause other problems? When I learned about fund-based accounting, when I was treasurer for my church (several years ago), there was an special account like that to balance out transfers between funds.
J
Jim

June 15th

I don't think it will hurt to have a dedicated envelope for transfer transaction. Then you can see the history easily, too
Please
sign in
to leave a comment
App How To
Similar Posts
Topic
developers
Chad, With Mvelopes shutting down you may be able to snatch up some experienced developers to bring on your team.
Stars
There are stars to the left of the Envelope name. What are their purpose? How do you "uncheck" them?
negative available for funding???
New here. Mvelopes user. I planned my month and autoset my envelopes to fund on the first of December. My paycheck was put into my checking account yesterday, November 1 and I put them in the salary spot. It funded my envelopes today as req...
MoneyWise

Biblical wisdom for your financial journey.

ECFA

© MoneyWise Media, LLC 2022. All rights reserved.