[moneydance] Child of?

[Keith Bates]

On Wed, 27 Jun 2007 23:47:41 -0400
"Yehudit Winiarz" <ym.design1 at gmail.com> wrote:

> 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?

That's 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?

I've never done it that way, so I can't say. I have an account at a
credit union where we actually have two accounts under the one
membership- referred to as S1 and S2. They can take money out of the S2
if you overdraw the S1. But even in this situation I tend to operate
them as completely separate accounts so they appear as separate
accounts on MD. 

I'm sure there may be situations where it make sense to have bank
accounts listed as child of another one, but I can't immediately think
of one.


Keith

> 
> 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.
> > _______________________________________________
> > moneydance-info mailing list
> > moneydance-info at moneydance.com
> > http://moneydance.com/mailman/listinfo/moneydance-info
> >
> 
> 
> 


-- 
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.