[moneydance] Child of?

[Yehudit Winiarz]

Ok, so for example, under expenses I could list "Home", and the children
would be "rent/mortgage, home maintenance, home insurance, home furnishings,
etc." right?
If that's the case, I think I understand the expenses/income part. However,
I'm still stuck on the bank accounts. Are there other reasons why someone
would use the bank accounts as parents/children of each other? How does that
help us use the program, and how are the funds reflected for the bank
account if done this way?

Thanks again,
Yehudit


On 6/27/07, Keith Bates <keith at new-life.org.au> wrote:
>
> On Wed, 27 Jun 2007 21:44:16 -0400
> "Yehudit Winiarz" <ym.design1 at gmail.com> wrote:
>
> > Could you please try to explain further? Firstly, I understand your
> > example (I think), but
> > don't understand what the other banking circumstances are that would
> > incline someone
> > to want to use this feature. Secondly, I have noticed that this
> > option is also available
> > for expenses, etc. How does that fit into your explanation?
> >
> > Thanks,
> > Yehudit
>
> Hi Yehudit,
>
> It works exactly the same for expenses and incomes. For example, my
> church runs a book shop. I have an account called "Bookshop Expenses"
> with sub-accounts (or child accounts) of "Purchases" and "Other"
>
> This allows  me to quickly see on our Reports etc. the overall expenses
> as well as the components of Purchases and Other.
>
> Another use on the income side might be if you have two different
> employers, then you could create a child account under Salary for each
> employer.
>
> Also when entering transaction into moneydance, auto-complete makes
> things very easy. For example to enter "Bookshop Expenses: Purchases" I
> type Book which brings up "Bookshop Expenses" then a colon and P
> completes the account name very quickly and easily.
>
> Hope that explains things more clearly
>
> --
> God bless you,
>
>
> Keith Bates
> 4 Mooloobar St
> Narrabri NSW 2390
>
> Phone: 02 67924890
> Fax: 02 67925418
>
> www.new-life.org.au
>
> If you don't have a reason to live
>
> JESUS IS THE ANSWER!
>
> Ask him into your life today...
> He really does make a difference.
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