App How To

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.

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.

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
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