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Re: Need book - What accounting method(s) is AceMoney based on?

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  • Ed S.
    Hi Jay, Thanks for the info. There was a time when I would never use plastic. Now I use debit and credit cards for just about everything. I pre-pay a gym
    Message 1 of 26 , Apr 28 5:28 AM
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      Hi Jay,

      Thanks for the info. There was a time when I would never use plastic. Now I use debit and credit cards for just about everything. I pre-pay a gym account for the snacks I buy after working out, so that will be tracked as one amount. I don't think I will try to account for all cash spending, unless I find a large amount in a Misc. account each month.

      I discovered that "retirement" can be a full time job. We really need to take control of money matters. When I worked I had this blind spot for money spent on "toys". Now I need to be aware of how the money is spent.

      Thanks and regards,

      Ed S.


      --- In acemoney@yahoogroups.com, "jayleighsmith1" <jayleighsmith1@...> wrote:
      >
      > Hi Ed S. - I travel back & forth between USA & my home in the UK. I have also created a Cash US & a Cash UK account to track pocket money spending in whatever currency I am using. Some of my sub-categories are used by both a cash account & a checking account, or a credit card. For instance - I play golf & have a Golf Category set up to track Sub-Category greens fees, golf snacks, golf winnings (or losses), equipment, etc.
      >
      > I may pay cash in the UK for my greens fees but use my Debit Card in the USA for the same purpose. It's NOT uncommon for my actual pocket change to not match what the AM account states. It's very difficult to remember every little detail of what was spent out of pocket. I usually end up at the end of the month entering a Misc. expense or income item to adjust for the discrepancy.
      >
      > I also have US & UK Credit cards that I manually enter transactions to & then reconcile my totals against the bank totals each month. I'm talking about 2-4 entries per card per month so I don't bother trying to download data from the bank.
      >
      > Regards - Jay
      >
      > --- In acemoney@yahoogroups.com, "Ed S." <edspyhill09@> wrote:
      > >
      > > Julie,
      > >
      > > Thank you so much. You have been immensely helpful. I had not thought about the income categories, but that is also a necessity. I should have AM set up by the end of the week. Then th ereal work begins - input all the data from Jan 01.
      > >
      > > Thanks and kind regards,
      > >
      > > Ed S.
      > >
      > > P.S. I copied your comments (and Thomas') into a file for reference.
      > >
      > >
      > > --- In acemoney@yahoogroups.com, "JuWlz" <julie.wills@> wrote:
      > > >
      > > > Ed
      > > >
      > > > Strangely enough, as I was casting around for info, Alvin Hall did spring to mind (although I don't think I've actually read the book - at least not in full).
      > > >
      > > > As to your question, it really depends on how much detail you a) want to get out and b) are prepared to put in. But certainly a category of subcriptions, subdivided as you describe is certainly a valid way to go. However, if you also buy magazines, software, newspapers, etc. in other ways, an equally valid approach would be to have a category of magazines (actually I make it broader than that, and use "Books and Magazines" - you could include newspapers too), and sub divide into categories of Subscriptions and Occasional (or Subscriptions, Shop, Mail order, Online if you want a greater level of detail - but I'd advise against getting TOO detailed - you'll just agonise over what the subcategories should be, and in all likelihood you won't need that much information.
      > > >
      > > > In that particular example, it really depends on whether you're more interested in WHAT you're spending your money on or HOW you're spending it. There's no right or wrong answer - do what's right for you. And remeber that nothing's irrevocable - it'll take a bit of effort, but you can change your mind later if your first attempt turns out not to work for you - in the category tab, you can change the category:subcateogry "Subscriptions:Magazines" to be "Books, Magazines and Newspapers:Subscriptions" at any time.
      > > >
      > > > NB: the conventional notation is category:subcategory (with a colon between them).
      > > >
      > > > You probably want to do something similar for your income (i.e. category income, with subcategories of the various types / sources). You might not necessarily need to separate out each individual source (the payee information will presumably do that anyway), but you could categorise as Pension, Investment income, etc. Often, less is more.
      > > >
      > > > Julie
      > > >
      > > > --- In acemoney@yahoogroups.com, "Ed S." <edspyhill09@> wrote:
      > > > >
      > > > > Julie,
      > > > >
      > > > > Thank you very much for the answer and info. The purpose of AceMoney makes much more sense now. I prefer tracking my spending (ever read "Your Money or Your Life?).
      > > > >
      > > > > I may still be over-complicating AceMoney but please comment on this scheme.
      > > > >
      > > > > I have many subscriptions: Magazines, software, newspapers, newsletters. Do you think this example is overkill?
      > > > >
      > > > > Category:
      > > > > Subscription
      > > > >
      > > > > Sub-Categories:
      > > > > Magazines;
      > > > > Software;
      > > > > newspapers;
      > > > > <etc.>
      > > > >
      > > > >
      > > > > So when I enter payment for Yoga Journal, it is categorized as a Subscription - Magazine. Is that a logical setup?
      > > > >
      > > > > Regards,
      > > > >
      > > > > Ed S.
      > > > >
      > > > >
      > > > > --- In acemoney@yahoogroups.com, "JuWlz" <julie.wills@> wrote:
      > > > > >
      > > > > > Welcome.
      > > > > >
      > > > > > Under the hood AceMOney is doing double entry accounting, but it's well hidden, and you really don't need to know that.
      > > > > >
      > > > > > Rather than accounting theory, I would suggest that you would be better off thinking about how you want to categorise your spending (using categories and sub-categories) in a way that will help you understand your spending. (I assume this is your intention for using AM or any other personal finance application.)
      > > > > >
      > > > > > The built-in ones may or may not be suitable for your needs.
      > > > > >
      > > > > > AceMoney is basically a tool to record your spending, and optionally categorise it so that you can generate reports about your spending patterns, and optionally create/monitor budgets for different categories of spending.
      > > > > >
      > > > > > You set up accounts in AM to reflect your bank / savings / mortgage / credit card accounts in the real world, and record your transactions (mostly spending) in whichever account they happen in in the real world (sometimes that will be a transfer from one account to another, e.g. from bank account to savings).
      > > > > >
      > > > > > I would suggest you categorise fairly broadly (e.g. don't try to itemise different types of groceries - you'll run out of patience very quickly that way!)
      > > > > >
      > > > > > If you'd like to know what your home costs you, have a Home category. You can then subdivide that into things like Mortgage (or Rent), Insurance, Utilities, Maintenance, Improvements (or Maintenance and Improvements if you don't want to differentiate). You then allocate all of your spending on your Home into one of those category/subcategory combinations when you record (or download) the transaction. If you spend money that doesn't fit into the categories you've got, either create another category/subcategory (e.g. Miscellaneous), or simply allocate it to the Home category without giving it a subcategory. If you decide to separate things out more at a later date, it's not difficult to find all the spending for a particular category/subcategory, and change some of them to be in a new subcategory. Try to find a balance between detail and achievability.
      > > > > >
      > > > > > Any Accounting primer is likely to get bogged down in double-entry accounting and business practice and packages. What you really need to do is think through what you'd like to know about your spending, and devise what sort of categorisation will work best for you. Everything else should fall into place from there.
      > > > > >
      > > > > > Julie
      > > > > >
      > > > > > --- In acemoney@yahoogroups.com, "Ed S." <edspyhill09@> wrote:
      > > > > > >
      > > > > > > I've read the how-to articles which explain how AceMoney works, and I have no issues with those docs. What I really need, I fear, is a good intro to accounting.
      > > > > > >
      > > > > > > Can anyone recommend a good intro book or website that gives a good beginner overview of accounting for personal use?
      > > > > > >
      > > > > > > Ed S.
      > > > > > >
      > > > > >
      > > > >
      > > >
      > >
      >
    • JuWlz
      Hi Ed Glad you re getting it under control. You re right, of course. In a lot of cases, what you re spending on is very often tightly tied to who you re
      Message 2 of 26 , Apr 28 5:44 AM
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        Hi Ed

        Glad you're getting it under control.

        You're right, of course. In a lot of cases, what you're spending on is very often tightly tied to who you're spending it with.

        When you get to it, you won't actually "split out" the credit card payee, as such. You'll have a separate account for your credit card(s), which will contain all the separate transactions for the things that you pay for with the card. So as you're finding with other things, it'll all just happen without you having to do anything about the payments in your current (aka checking) account.

        As to your question, no, I'm not a teacher. However, I used to do software support for a good many years for Hewlett Packard when I first graduated (many years ago!), and as part of that job I did occasionally teach technical courses to customers and write articles for internal technical newsletters.

        Julie

        --- In acemoney@yahoogroups.com, "Ed S." <edspyhill09@...> wrote:
        >
        > Hi Julie,
        >
        > I started to input data and that was the best step. I was too fixated on the categories. Within 2 transactions I realized the Payee list was the important area. I'm finding that the standard categories are sufficient except for some minor changes.
        >
        > The one payee that needs to be split is my credit card, and that will necessitate learning the download steps.
        >
        >
        > Thanks for your solid instruction. Are you a teacher in some form?
        >
        > Ed S.
        >
        > --- In acemoney@yahoogroups.com, "JuWlz" <julie.wills@> wrote:
        > >
        > > Ed
        > >
        > > It may sound odd, but I think in your position I'd start from a more achievable starting point, such as January THIS year - or as far back as your bank lets you download data for your current account. You may well find (especially if you're doing all the data entry manually) that you will run out of steam long before you get anywhere near up to date.
        > >
        > > Tip:
        > > Start by creating all the accounts that you need to track (bank account (aka current account, checking account, depending on what country you're in), any Credit Card accounts, Savings accounts, Mortgage Account (if you have one), etc. Once you have the accounts in place, you can create transactions that are transfers between them, and that will cut down a lot of work.
        > >
        > > Then start your data entry with your main bank account (the one that your income is paid into and your credit cards and savings accounts are paid out of).
      • Bryce Winter
        Hi Donna, Thanks so much for that - it s opened up the world of favorite reports to me! Very useful indeed! Cheers, Bryce. From: acemoney@yahoogroups.com
        Message 3 of 26 , Apr 28 4:30 PM
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          Hi Donna,



          Thanks so much for that - it's opened up the world of favorite reports to
          me! Very useful indeed!



          Cheers,



          Bryce.



          From: acemoney@yahoogroups.com [mailto:acemoney@yahoogroups.com] On Behalf
          Of Maxima driver
          Sent: Saturday, 28 April 2012 4:18 AM
          To: acemoney@yahoogroups.com
          Subject: [acemoney] Re: Need book - What accounting method(s) is AceMoney
          based on?





          Hello Bryce,
          Welcome to Ace Money. Here is what I did.
          Go to Report Page. Bring up a report named Spendings by Sub-categories. Now
          check the box for Filter by Date and select Current Year. Now check
          sub-categories which have to do with taxes such as Medical, Charity etc.
          Next check all the relevant accounts. For instance, you may charge a
          charitable donation to a credit card and you want to make sure it gets
          counted. Now that your report is taking shape, you need to save and name it.
          Go up to Reports on the line above the icons (right next to Tools) click and
          select Add to Favorites. It will allow you to save it named whatever you
          like. Now you can look at this report all year long to see if info is
          showing up as you want it. It is not hard to change this report to the next
          year when you want it. You can make other reports this way: Auto Expenses
          per year, Leisure and miscellaneous, whatever you are watching.
          I hope this is helpful. Good luck with Ace Money. It is great!

          --- In acemoney@yahoogroups.com <mailto:acemoney%40yahoogroups.com> , "Bryce
          Winter" <winter.bryce@...> wrote:
          >
          > Hi Donna,
          >
          >
          >
          > I'm a new user, and this kind of report is something that would be really
          > useful for me too - how do you do it?
          >
          >
          >
          > Cheers,
          >
          >
          >
          > Bryce.
          >
          >
          >
          > From: acemoney@yahoogroups.com <mailto:acemoney%40yahoogroups.com>
          [mailto:acemoney@yahoogroups.com <mailto:acemoney%40yahoogroups.com> ] On
          Behalf
          > Of Maxima driver
          > Sent: Friday, 27 April 2012 4:13 AM
          > To: acemoney@yahoogroups.com <mailto:acemoney%40yahoogroups.com>
          > Subject: [acemoney] Re: Need book - What accounting method(s) is AceMoney
          > based on?
          >
          >
          >
          >
          >
          > I have been using AceMoney for a few years and my favorite thing is a
          > customized report I have made which lists all my tax-deductible expenses.
          It
          > is very useful at income tax time1
          > Regards,
          > Donna
          >
          > --- In acemoney@yahoogroups.com <mailto:acemoney%40yahoogroups.com>
          <mailto:acemoney%40yahoogroups.com> , "Ed
          > S." <edspyhill09@> wrote:
          > >
          > > Thomas,
          > >
          > > Thanks. Great information. I am just about retired and I want to track
          > what I spend as compared to the modest income I get from several sources
          > that are not work. I have basic concerns that I might be spending more
          than
          > what is coming in, and therefore may need to get a job.
          > >
          > > I don't yet have hard answers to questions like: Can I afford a new car;
          > should I give up my gym membership; should I cut out the monthly
          > Thai/Acupressure massage; should I stop driving to the cool Yoga classes
          20
          > miles one way? I think AceMoney will do all this for me.
          > >
          > > Thanks and regards,
          > >
          > > Ed S.
          > >
          > > --- In acemoney@yahoogroups.com <mailto:acemoney%40yahoogroups.com>
          <mailto:acemoney%40yahoogroups.com> , Tom
          > <tstraten@> wrote:
          > > >
          > > > Julie,
          > > > I think you deserve the "best Forum friend"!!!!
          > > > You are not only kind, knowing Acemoney to the tip, patient but also
          so
          > thorough in your answers!
          > > > Congratulations!!! (for the award!)
          > > >
          > > > Now to the answer:
          > > > Acemoney is definitively NOT an accounting software and, as Julie has
          so
          > clearly put, is aimed to spending habits versus income.
          > > > It is true that you could track assets and liabilities
          (active-passive)
          > but that is about all.
          > > > Depreciation, as example, would be very difficult to calculate and
          > estimate. Real life tax calculation is another.
          > > >
          > > > By the way, Julie is right stating that Acemoney is a hidden double
          > entry system, but with a tremendous internal misconception when you ask
          for
          > reports for all transactions, showing transfers. At that precise moment
          you
          > will see that transfers are treated as a SINGLE line transaction with
          > withdrawal and deposit both having the same amount, thus totalizing zero,
          > and this is absolutely incorrect (and illogical). It is true it doesn't
          > matter on a per account basis, but makes impossible a correct processing
          of
          > that info in Excel as Balances will NOT be correct!
          > > > (still hoping this will be corrected in future versions as Late Alex
          had
          > stated in a mail)
          > > >
          > > > It is because accounting is such a difficult matter that we, mortals,
          > are using a simpler way to know our spendings and plan ahead with a nice
          > budget over time. It is what we need as it is what really matters.
          > Accounting is something we do not need.
          > > > By the way, in our school, where we use an accounting system worked by
          > an official accountant but use Acemoney (our secretary put all income and
          > expenses), it is easy to check both systems and forecast.
          > > > It is the best way we found to have the relevant info daily, work with
          > it and CONTROL our accountant (never trust them!)
          > > > Best regards
          > > > Thomas
          > > >
          > > >
          > > > I would suggest (as exemple) the Gnucash software (free) or other
          double
          > entry system, preferably stating its accounting capacities.
          > > >
          > > >
          > > > El 22-04-2012, a las 7:18, "JuWlz" <julie.wills@> escribió:
          > > >
          > > > > Welcome.
          > > > >
          > > > > Under the hood AceMOney is doing double entry accounting, but it's
          > well hidden, and you really don't need to know that.
          > > > >
          > > > > Rather than accounting theory, I would suggest that you would be
          > better off thinking about how you want to categorise your spending (using
          > categories and sub-categories) in a way that will help you understand your
          > spending. (I assume this is your intention for using AM or any other
          > personal finance application.)
          > > > >
          > > > > The built-in ones may or may not be suitable for your needs.
          > > > >
          > > > > AceMoney is basically a tool to record your spending, and optionally
          > categorise it so that you can generate reports about your spending
          patterns,
          > and optionally create/monitor budgets for different categories of
          spending.
          > > > >
          > > > > You set up accounts in AM to reflect your bank / savings / mortgage
          /
          > credit card accounts in the real world, and record your transactions
          (mostly
          > spending) in whichever account they happen in in the real world (sometimes
          > that will be a transfer from one account to another, e.g. from bank
          account
          > to savings).
          > > > >
          > > > > I would suggest you categorise fairly broadly (e.g. don't try to
          > itemise different types of groceries - you'll run out of patience very
          > quickly that way!)
          > > > >
          > > > > If you'd like to know what your home costs you, have a Home
          category.
          > You can then subdivide that into things like Mortgage (or Rent),
          Insurance,
          > Utilities, Maintenance, Improvements (or Maintenance and Improvements if
          you
          > don't want to differentiate). You then allocate all of your spending on
          your
          > Home into one of those category/subcategory combinations when you record
          (or
          > download) the transaction. If you spend money that doesn't fit into the
          > categories you've got, either create another category/subcategory (e.g.
          > Miscellaneous), or simply allocate it to the Home category without giving
          it
          > a subcategory. If you decide to separate things out more at a later date,
          > it's not difficult to find all the spending for a particular
          > category/subcategory, and change some of them to be in a new subcategory.
          > Try to find a balance between detail and achievability.
          > > > >
          > > > > Any Accounting primer is likely to get bogged down in double-entry
          > accounting and business practice and packages. What you really need to do
          is
          > think through what you'd like to know about your spending, and devise what
          > sort of categorisation will work best for you. Everything else should fall
          > into place from there.
          > > > >
          > > > > Julie
          > > > >
          > > > > --- In acemoney@yahoogroups.com <mailto:acemoney%40yahoogroups.com>
          <mailto:acemoney%40yahoogroups.com> ,
          > "Ed S." <edspyhill09@> wrote:
          > > > > >
          > > > > > I've read the how-to articles which explain how AceMoney works,
          and
          > I have no issues with those docs. What I really need, I fear, is a good
          > intro to accounting.
          > > > > >
          > > > > > Can anyone recommend a good intro book or website that gives a
          good
          > beginner overview of accounting for personal use?
          > > > > >
          > > > > > Ed S.
          > > > > >
          > > > >
          > > > >
          > > >
          > > >
          > > > [Non-text portions of this message have been removed]
          > > >
          > >
          >
          >
          >
          >
          >
          > [Non-text portions of this message have been removed]
          >





          [Non-text portions of this message have been removed]
        • Bryce Winter
          Hi, Follow-up question relating to reports: I am trying to make a report to monitor my dividend income versus margin interest expenses. I can t figure out
          Message 4 of 26 , Apr 28 4:38 PM
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            Hi,



            Follow-up question relating to reports: I am trying to make a report to
            monitor my dividend income versus margin interest expenses. I can't figure
            out how to assign categories to dividend income so that I can get it to show
            up on the "Budget by subcategories" report. Is this possible?



            Cheers,



            Bryce.



            From: acemoney@yahoogroups.com [mailto:acemoney@yahoogroups.com] On Behalf
            Of Maxima driver
            Sent: Saturday, 28 April 2012 4:18 AM
            To: acemoney@yahoogroups.com
            Subject: [acemoney] Re: Need book - What accounting method(s) is AceMoney
            based on?





            Hello Bryce,
            Welcome to Ace Money. Here is what I did.
            Go to Report Page. Bring up a report named Spendings by Sub-categories. Now
            check the box for Filter by Date and select Current Year. Now check
            sub-categories which have to do with taxes such as Medical, Charity etc.
            Next check all the relevant accounts. For instance, you may charge a
            charitable donation to a credit card and you want to make sure it gets
            counted. Now that your report is taking shape, you need to save and name it.
            Go up to Reports on the line above the icons (right next to Tools) click and
            select Add to Favorites. It will allow you to save it named whatever you
            like. Now you can look at this report all year long to see if info is
            showing up as you want it. It is not hard to change this report to the next
            year when you want it. You can make other reports this way: Auto Expenses
            per year, Leisure and miscellaneous, whatever you are watching.
            I hope this is helpful. Good luck with Ace Money. It is great!

            --- In acemoney@yahoogroups.com <mailto:acemoney%40yahoogroups.com> , "Bryce
            Winter" <winter.bryce@...> wrote:
            >
            > Hi Donna,
            >
            >
            >
            > I'm a new user, and this kind of report is something that would be really
            > useful for me too - how do you do it?
            >
            >
            >
            > Cheers,
            >
            >
            >
            > Bryce.
            >
            >
            >
            > From: acemoney@yahoogroups.com <mailto:acemoney%40yahoogroups.com>
            [mailto:acemoney@yahoogroups.com <mailto:acemoney%40yahoogroups.com> ] On
            Behalf
            > Of Maxima driver
            > Sent: Friday, 27 April 2012 4:13 AM
            > To: acemoney@yahoogroups.com <mailto:acemoney%40yahoogroups.com>
            > Subject: [acemoney] Re: Need book - What accounting method(s) is AceMoney
            > based on?
            >
            >
            >
            >
            >
            > I have been using AceMoney for a few years and my favorite thing is a
            > customized report I have made which lists all my tax-deductible expenses.
            It
            > is very useful at income tax time1
            > Regards,
            > Donna
            >
            > --- In acemoney@yahoogroups.com <mailto:acemoney%40yahoogroups.com>
            <mailto:acemoney%40yahoogroups.com> , "Ed
            > S." <edspyhill09@> wrote:
            > >
            > > Thomas,
            > >
            > > Thanks. Great information. I am just about retired and I want to track
            > what I spend as compared to the modest income I get from several sources
            > that are not work. I have basic concerns that I might be spending more
            than
            > what is coming in, and therefore may need to get a job.
            > >
            > > I don't yet have hard answers to questions like: Can I afford a new car;
            > should I give up my gym membership; should I cut out the monthly
            > Thai/Acupressure massage; should I stop driving to the cool Yoga classes
            20
            > miles one way? I think AceMoney will do all this for me.
            > >
            > > Thanks and regards,
            > >
            > > Ed S.
            > >
            > > --- In acemoney@yahoogroups.com <mailto:acemoney%40yahoogroups.com>
            <mailto:acemoney%40yahoogroups.com> , Tom
            > <tstraten@> wrote:
            > > >
            > > > Julie,
            > > > I think you deserve the "best Forum friend"!!!!
            > > > You are not only kind, knowing Acemoney to the tip, patient but also
            so
            > thorough in your answers!
            > > > Congratulations!!! (for the award!)
            > > >
            > > > Now to the answer:
            > > > Acemoney is definitively NOT an accounting software and, as Julie has
            so
            > clearly put, is aimed to spending habits versus income.
            > > > It is true that you could track assets and liabilities
            (active-passive)
            > but that is about all.
            > > > Depreciation, as example, would be very difficult to calculate and
            > estimate. Real life tax calculation is another.
            > > >
            > > > By the way, Julie is right stating that Acemoney is a hidden double
            > entry system, but with a tremendous internal misconception when you ask
            for
            > reports for all transactions, showing transfers. At that precise moment
            you
            > will see that transfers are treated as a SINGLE line transaction with
            > withdrawal and deposit both having the same amount, thus totalizing zero,
            > and this is absolutely incorrect (and illogical). It is true it doesn't
            > matter on a per account basis, but makes impossible a correct processing
            of
            > that info in Excel as Balances will NOT be correct!
            > > > (still hoping this will be corrected in future versions as Late Alex
            had
            > stated in a mail)
            > > >
            > > > It is because accounting is such a difficult matter that we, mortals,
            > are using a simpler way to know our spendings and plan ahead with a nice
            > budget over time. It is what we need as it is what really matters.
            > Accounting is something we do not need.
            > > > By the way, in our school, where we use an accounting system worked by
            > an official accountant but use Acemoney (our secretary put all income and
            > expenses), it is easy to check both systems and forecast.
            > > > It is the best way we found to have the relevant info daily, work with
            > it and CONTROL our accountant (never trust them!)
            > > > Best regards
            > > > Thomas
            > > >
            > > >
            > > > I would suggest (as exemple) the Gnucash software (free) or other
            double
            > entry system, preferably stating its accounting capacities.
            > > >
            > > >
            > > > El 22-04-2012, a las 7:18, "JuWlz" <julie.wills@> escribió:
            > > >
            > > > > Welcome.
            > > > >
            > > > > Under the hood AceMOney is doing double entry accounting, but it's
            > well hidden, and you really don't need to know that.
            > > > >
            > > > > Rather than accounting theory, I would suggest that you would be
            > better off thinking about how you want to categorise your spending (using
            > categories and sub-categories) in a way that will help you understand your
            > spending. (I assume this is your intention for using AM or any other
            > personal finance application.)
            > > > >
            > > > > The built-in ones may or may not be suitable for your needs.
            > > > >
            > > > > AceMoney is basically a tool to record your spending, and optionally
            > categorise it so that you can generate reports about your spending
            patterns,
            > and optionally create/monitor budgets for different categories of
            spending.
            > > > >
            > > > > You set up accounts in AM to reflect your bank / savings / mortgage
            /
            > credit card accounts in the real world, and record your transactions
            (mostly
            > spending) in whichever account they happen in in the real world (sometimes
            > that will be a transfer from one account to another, e.g. from bank
            account
            > to savings).
            > > > >
            > > > > I would suggest you categorise fairly broadly (e.g. don't try to
            > itemise different types of groceries - you'll run out of patience very
            > quickly that way!)
            > > > >
            > > > > If you'd like to know what your home costs you, have a Home
            category.
            > You can then subdivide that into things like Mortgage (or Rent),
            Insurance,
            > Utilities, Maintenance, Improvements (or Maintenance and Improvements if
            you
            > don't want to differentiate). You then allocate all of your spending on
            your
            > Home into one of those category/subcategory combinations when you record
            (or
            > download) the transaction. If you spend money that doesn't fit into the
            > categories you've got, either create another category/subcategory (e.g.
            > Miscellaneous), or simply allocate it to the Home category without giving
            it
            > a subcategory. If you decide to separate things out more at a later date,
            > it's not difficult to find all the spending for a particular
            > category/subcategory, and change some of them to be in a new subcategory.
            > Try to find a balance between detail and achievability.
            > > > >
            > > > > Any Accounting primer is likely to get bogged down in double-entry
            > accounting and business practice and packages. What you really need to do
            is
            > think through what you'd like to know about your spending, and devise what
            > sort of categorisation will work best for you. Everything else should fall
            > into place from there.
            > > > >
            > > > > Julie
            > > > >
            > > > > --- In acemoney@yahoogroups.com <mailto:acemoney%40yahoogroups.com>
            <mailto:acemoney%40yahoogroups.com> ,
            > "Ed S." <edspyhill09@> wrote:
            > > > > >
            > > > > > I've read the how-to articles which explain how AceMoney works,
            and
            > I have no issues with those docs. What I really need, I fear, is a good
            > intro to accounting.
            > > > > >
            > > > > > Can anyone recommend a good intro book or website that gives a
            good
            > beginner overview of accounting for personal use?
            > > > > >
            > > > > > Ed S.
            > > > > >
            > > > >
            > > > >
            > > >
            > > >
            > > > [Non-text portions of this message have been removed]
            > > >
            > >
            >
            >
            >
            >
            >
            > [Non-text portions of this message have been removed]
            >





            [Non-text portions of this message have been removed]
          • Robin Moore
            Hi Julie, When you do your report for charity spending I believe you will get two rows. The top row is labelled charity spending and the row below is labelled
            Message 5 of 26 , May 9, 2012
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              Hi Julie,



              When you do your report for charity spending I believe you will get two
              rows. The top row is labelled charity spending and the row below is labelled
              "total". Try double clicking the first row (sometimes you may have to double
              click twice).



              This should expand your report showing all the individual transactions for
              the category and time period you have selected.



              Best wishes

              Robin



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