Re: Is "Transfer" same as making a "Journal Entry"

[Adrien Monteleone]

Roger,

The Budget Total is showing you how much you have ‘left to budget’. If you’ve 
budgeted everything you plan on receiving, then it should be zero.

If you reduce an asset in your budget (in this case the investment account) it 
is assuming that is converted to spendable cash that can be budgeted. If you 
don’t budget the amount you withdraw, it is added to the total.

So yes, Income - Expense - Transfers = Total.

If you Received $2000, budgeted $2000 and then withdrew $1000, you’d have a 
total of $1000 left to budget.

$2000 - $2000 - (-$1000) = +$1000


Regards,
Adrien

> On Feb 5, 2018, at 4:26 PM, Roger Miskowicz  wrote:
> 
> Thanks Adrien,
> 
> I have income and also make monthly withdrawal from an investment account.  
> In the Budget I enter Income and Transfer say (-$1,000)  from my Investment 
> account and the Monthly Total in the Budget seems to be okay. 
> 
> I want the Total to be the difference between net income and net expenses and 
> I think it does that where on the Budget Spread Sheet it appears the Monthly 
> Total = Income - Expenses -Transfers.
> 
> I am not sure I really understand what is going on but it seems to give me 
> the results for which I was looking.
> 
> On Mon, Feb 5, 2018 at 4:42 PM, Adrien Monteleone 
> > wrote:
> So far my experience with the budget module is that the ‘Transfers’ summary 
> line is telling you about entries in asset and liability accounts. Entries in 
> expense and income accounts do not get summed in the ‘Transfers’ line. (I 
> don’t think Equity does either since Equity IS Income-Expenses)
> 
> So if you budget 90% of one months income/revenue towards expenses and then 
> put 5% into a savings asset account and 5% as a payment (entered as a 
> negative) into a liability account, your transfers summary line would be 10%. 
> The payment of the liability would not be a budgeted expense but a budgeted 
> transfer.
> 
> (the expense was recorded already when you assumed the liability)
> 
> This is how you would budget a mortgage or car payment. You could also budget 
> payments on previous balances to consumer credit cards. (but you would not 
> budget payments on those cards for expenses in the same month that you are 
> budgeting for in their respective expense categories - that would be 
> budgeting the same thing twice)
> 
> It gets tricky when you budget money into savings and then use some or all of 
> that at some point as a payment on a liability, while still socking some away 
> that month into savings. You have to enter the full payment (as a negative) 
> in the liability cell for that period, but then the difference between the 
> full amount you are taking out of savings and the amount you are putting into 
> savings into that month’s savings budget cell. If you had $2000 of savings 
> stored up and you wanted to plop that down as an extra principle payment on a 
> house note, but still put in $250 into your savings account that month, 
> you’re pulling a net $1750 out of the savings account. So your savings cell 
> that month would be -$1750 (you took out $2000, but put $250 back in, you 
> could also have taken only $1750 out, combined it with the $250 in your 
> pocket and used that to make the extra payment.) and your mortgage liability 
> cell would be -$2000. You just want to make sure each period’s cell reflects 
> the net change in the account balance at the end of that period.
> 
> Regards,
> Adrien
> 
> > On Feb 5, 2018, at 8:42 AM, Roger Miskowicz  > > wrote:
> >
> > I am curious as to what 'Transfer' means in the 'Budget'?
> >
> > On Mon, Feb 5, 2018 at 9:19 AM, Fran_3 via gnucash-user <
> > gnucash-user@gnucash.org > wrote:
> >
> >> gnuCash Menue's offer:   Actions -> Transfer
> >> Which seems to allow a simple way to debit one account and credit
> >> another... right?
> >> if so isn't that the same functionality as what is called a "Journal
> >> Entry" ?
> >> Thanks.
> >>
> >> ___
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Re: Is "Transfer" same as making a "Journal Entry"

[Roger Miskowicz]

Thanks Adrien,

I have income and also make monthly withdrawal from an investment account.
In the Budget I enter Income and Transfer say (-$1,000)  from my Investment
account and the Monthly Total in the Budget seems to be okay.

I want the Total to be the difference between net income and net expenses
and I think it does that where on the Budget Spread Sheet it appears the
Monthly Total = Income - Expenses -Transfers.

I am not sure I really understand what is going on but it seems to give me
the results for which I was looking.

On Mon, Feb 5, 2018 at 4:42 PM, Adrien Monteleone <
adrien.montele...@gmail.com> wrote:

> So far my experience with the budget module is that the ‘Transfers’
> summary line is telling you about entries in asset and liability accounts.
> Entries in expense and income accounts do not get summed in the ‘Transfers’
> line. (I don’t think Equity does either since Equity IS Income-Expenses)
>
> So if you budget 90% of one months income/revenue towards expenses and
> then put 5% into a savings asset account and 5% as a payment (entered as a
> negative) into a liability account, your transfers summary line would be
> 10%. The payment of the liability would not be a budgeted expense but a
> budgeted transfer.
>
> (the expense was recorded already when you assumed the liability)
>
> This is how you would budget a mortgage or car payment. You could also
> budget payments on previous balances to consumer credit cards. (but you
> would not budget payments on those cards for expenses in the same month
> that you are budgeting for in their respective expense categories - that
> would be budgeting the same thing twice)
>
> It gets tricky when you budget money into savings and then use some or all
> of that at some point as a payment on a liability, while still socking some
> away that month into savings. You have to enter the full payment (as a
> negative) in the liability cell for that period, but then the difference
> between the full amount you are taking out of savings and the amount you
> are putting into savings into that month’s savings budget cell. If you had
> $2000 of savings stored up and you wanted to plop that down as an extra
> principle payment on a house note, but still put in $250 into your savings
> account that month, you’re pulling a net $1750 out of the savings account.
> So your savings cell that month would be -$1750 (you took out $2000, but
> put $250 back in, you could also have taken only $1750 out, combined it
> with the $250 in your pocket and used that to make the extra payment.) and
> your mortgage liability cell would be -$2000. You just want to make sure
> each period’s cell reflects the net change in the account balance at the
> end of that period.
>
> Regards,
> Adrien
>
> > On Feb 5, 2018, at 8:42 AM, Roger Miskowicz  wrote:
> >
> > I am curious as to what 'Transfer' means in the 'Budget'?
> >
> > On Mon, Feb 5, 2018 at 9:19 AM, Fran_3 via gnucash-user <
> > gnucash-user@gnucash.org> wrote:
> >
> >> gnuCash Menue's offer:   Actions -> Transfer
> >> Which seems to allow a simple way to debit one account and credit
> >> another... right?
> >> if so isn't that the same functionality as what is called a "Journal
> >> Entry" ?
> >> Thanks.
> >>
> >> ___
> >> gnucash-user mailing list
> >> gnucash-user@gnucash.org
> >> To update your subscription preferences or to unsubscribe:
> >> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> >> If you are using Nabble or Gmane, please see
> >> https://wiki.gnucash.org/wiki/Mailing_Lists for more information.
> >> -
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> >> You can do this by using Reply-To-List or Reply-All.
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Re: Is "Transfer" same as making a "Journal Entry"

[Adrien Monteleone]

So far my experience with the budget module is that the ‘Transfers’ summary 
line is telling you about entries in asset and liability accounts. Entries in 
expense and income accounts do not get summed in the ‘Transfers’ line. (I don’t 
think Equity does either since Equity IS Income-Expenses)

So if you budget 90% of one months income/revenue towards expenses and then put 
5% into a savings asset account and 5% as a payment (entered as a negative) 
into a liability account, your transfers summary line would be 10%. The payment 
of the liability would not be a budgeted expense but a budgeted transfer.

(the expense was recorded already when you assumed the liability)

This is how you would budget a mortgage or car payment. You could also budget 
payments on previous balances to consumer credit cards. (but you would not 
budget payments on those cards for expenses in the same month that you are 
budgeting for in their respective expense categories - that would be budgeting 
the same thing twice)

It gets tricky when you budget money into savings and then use some or all of 
that at some point as a payment on a liability, while still socking some away 
that month into savings. You have to enter the full payment (as a negative) in 
the liability cell for that period, but then the difference between the full 
amount you are taking out of savings and the amount you are putting into 
savings into that month’s savings budget cell. If you had $2000 of savings 
stored up and you wanted to plop that down as an extra principle payment on a 
house note, but still put in $250 into your savings account that month, you’re 
pulling a net $1750 out of the savings account. So your savings cell that month 
would be -$1750 (you took out $2000, but put $250 back in, you could also have 
taken only $1750 out, combined it with the $250 in your pocket and used that to 
make the extra payment.) and your mortgage liability cell would be -$2000. You 
just want to make sure each period’s cell reflects the net change in the 
account balance at the end of that period.

Regards,
Adrien

> On Feb 5, 2018, at 8:42 AM, Roger Miskowicz  wrote:
> 
> I am curious as to what 'Transfer' means in the 'Budget'?
> 
> On Mon, Feb 5, 2018 at 9:19 AM, Fran_3 via gnucash-user <
> gnucash-user@gnucash.org> wrote:
> 
>> gnuCash Menue's offer:   Actions -> Transfer
>> Which seems to allow a simple way to debit one account and credit
>> another... right?
>> if so isn't that the same functionality as what is called a "Journal
>> Entry" ?
>> Thanks.
>> 
>> ___
>> gnucash-user mailing list
>> gnucash-user@gnucash.org
>> To update your subscription preferences or to unsubscribe:
>> https://lists.gnucash.org/mailman/listinfo/gnucash-user
>> If you are using Nabble or Gmane, please see
>> https://wiki.gnucash.org/wiki/Mailing_Lists for more information.
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>> You can do this by using Reply-To-List or Reply-All.
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Re: Is "Transfer" same as making a "Journal Entry"

[Roger Miskowicz]

Thanks Phil, that helps.

On Mon, Feb 5, 2018 at 10:47 AM, Phil Longstaff 
wrote:

> In an accounting sense, giving money to pay off the principal of a loan is
> not an expense. It is a transfer to pay down a liability. Similarly, giving
> money towards an RRSP (Canada) or 401K (US) is not an expense. It is a
> transfer to an asset account. These are the transfers that are captured by
> "Transfer". It is the money to pay down liabilities or increase assets.
>
> On Mon, Feb 5, 2018 at 9:42 AM, Roger Miskowicz 
> wrote:
>
>> I am curious as to what 'Transfer' means in the 'Budget'?
>>
>> On Mon, Feb 5, 2018 at 9:19 AM, Fran_3 via gnucash-user <
>> gnucash-user@gnucash.org> wrote:
>>
>> > gnuCash Menue's offer:   Actions -> Transfer
>> > Which seems to allow a simple way to debit one account and credit
>> > another... right?
>> > if so isn't that the same functionality as what is called a "Journal
>> > Entry" ?
>> > Thanks.
>> >
>> > ___
>> > gnucash-user mailing list
>> > gnucash-user@gnucash.org
>> > To update your subscription preferences or to unsubscribe:
>> > https://lists.gnucash.org/mailman/listinfo/gnucash-user
>> > If you are using Nabble or Gmane, please see
>> > https://wiki.gnucash.org/wiki/Mailing_Lists for more information.
>> > -
>> > Please remember to CC this list on all your replies.
>> > You can do this by using Reply-To-List or Reply-All.
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>>
>
>
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Re: Is "Transfer" same as making a "Journal Entry"

[Phil Longstaff]

In an accounting sense, giving money to pay off the principal of a loan is
not an expense. It is a transfer to pay down a liability. Similarly, giving
money towards an RRSP (Canada) or 401K (US) is not an expense. It is a
transfer to an asset account. These are the transfers that are captured by
"Transfer". It is the money to pay down liabilities or increase assets.

On Mon, Feb 5, 2018 at 9:42 AM, Roger Miskowicz  wrote:

> I am curious as to what 'Transfer' means in the 'Budget'?
>
> On Mon, Feb 5, 2018 at 9:19 AM, Fran_3 via gnucash-user <
> gnucash-user@gnucash.org> wrote:
>
> > gnuCash Menue's offer:   Actions -> Transfer
> > Which seems to allow a simple way to debit one account and credit
> > another... right?
> > if so isn't that the same functionality as what is called a "Journal
> > Entry" ?
> > Thanks.
> >
> > ___
> > gnucash-user mailing list
> > gnucash-user@gnucash.org
> > To update your subscription preferences or to unsubscribe:
> > https://lists.gnucash.org/mailman/listinfo/gnucash-user
> > If you are using Nabble or Gmane, please see
> > https://wiki.gnucash.org/wiki/Mailing_Lists for more information.
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Re: Is "Transfer" same as making a "Journal Entry"

[Robert Heller]

Actions -> Transfer is just a convience feature for entering a transaction
that is just a transfer from one account to another. Typically this would be
something like moving funds from a checking account to a savings account or
vice versa.


At Mon, 5 Feb 2018 14:19:53 + (UTC) Fran_3  wrote:

> 
> gnuCash Menue's offer:   Actions -> Transfer
> Which seems to allow a simple way to debit one account and credit another... 
> right?
> if so isn't that the same functionality as what is called a "Journal Entry" ?
> Thanks.
> 
> ___
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> 

-- 
Robert Heller -- 978-544-6933
Deepwoods Software-- Custom Software Services
http://www.deepsoft.com/  -- Linux Administration Services
hel...@deepsoft.com   -- Webhosting Services

   
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Re: Is "Transfer" same as making a "Journal Entry"

[Roger Miskowicz]

I am curious as to what 'Transfer' means in the 'Budget'?

On Mon, Feb 5, 2018 at 9:19 AM, Fran_3 via gnucash-user <
gnucash-user@gnucash.org> wrote:

> gnuCash Menue's offer:   Actions -> Transfer
> Which seems to allow a simple way to debit one account and credit
> another... right?
> if so isn't that the same functionality as what is called a "Journal
> Entry" ?
> Thanks.
>
> ___
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