HomeBank

Tracking ATM withdrawals Money

Asked by linbynd

Problem Statement: On an account when I have made an ATM withdrawal, that money can be considered already debited and cleared on the Account. But I want to further track the withdrawal that I have made and how I used up the cash at later dates.

Currently the only way I see to achieve this is to create a separate CASH account and make a transfer from the primary account to the Cash account and then track the cash spending there. But this feels a bit tedious.

Would this be a good feature to add to homebank just for ATM withdrawals?
when you have a transaction as a ATM withdrawal you can split that into sub-transactions with different dates in the split window. Or another approach could be that we get an option to link a transaction to the Primary ATM withdrawal.

I am not sure if I am thinking the right way. But My goal is to further track the Cash that I have withdrew and on what I have spent that money on.

If this can be achieved in some other manner could someone help me on it.

BTW HomeBank is an awesome tool. Just getting the hang of it.

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Paul White (paulw2u) said : 		#1

I'm just another user offering an opinion.

If you have an ATM transaction split into sub-transactions how do you know how much and when you will spend that cash? You'll still have to edit those sub- transactions to update dates and amounts and possibly add further sub-transactions if you make an unexpected purchase. How would you keep track of any balance that you don't spend? If you draw £20.00 of cash but only spend £19.50 how would you account for the remaining amount?

I'm not sure of your linking option but it seems that you would still have small amounts unaccounted for and you still have to create transactions to link to the ATM transaction. It does seem to be an unnecessarily complicated option that I don't think many people would use especially now that cash is not used much less that it used to in many countries.

If you use a cash account it's balance would always equal the amount of cash in your pocket and/or wallet.

Transferring money to a cash account seems the easiest option to me.

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Launchpad Janitor (janitor) said : 		#2

This question was expired because it remained in the 'Open' state without activity for the last 15 days.