[moneydance] Child of?

[Stan]

I have our savings account as a parent.  I created a child account called
"Emergency Fund" and another child account called "Christmas Fund."

I put funds into the Christmas Fund account every month, although at the
bank, it's just going to our savings account.  The Emergency Fund (hello to
other Dave Ramsey fans) just holds funds for a rainy day, and likewise,
that money is just sitting in our savings account.  In Moneydance, though,
they are three separate accounts, and when I look in the savings account,
it doesn't include what's in the other two.

However, when it's time to reconcile the account, I can put a check in the
box to include subaccounts, and all the money is pooled together, which is
what I need to be able to match it up to what's on the bank statement.

Stan


On 6/27/2007 at 11:47 PM Yehudit Winiarz 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?
>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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>>
>
>
>
>-- 
>The entire purpose of our existence is to overcome our negative habits.
>- Vilna Goan, Commentary to Mishlei 4:13
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