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

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  • 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 1 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 2 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 3 of 26 , May 9, 2012
        View Source
        • 0 Attachment
          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



          [Non-text portions of this message have been removed]
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