![]() I periodically record this difference as an “Adjustment” expense. Cash transactions are hard to track, and sometimes my amount of cash on hand does not match the amount recorded in GnuCash. The adjustment account is an expense account used to keep cash assets accurate. (Hard drive encryption mitigates some of the risk of having all those statements sitting on your hard drive.) Then I reconcile that particular account. When I receive a new statement, I first save the PDF to my hard drive. Today I’d like to explain some things I’ve learned to track using this financial software. In my last post, I wrote a review of GnuCash. So I wish there was an option to disable the profit calculation from showing, but keep the other useful information visible. However, for other Tabs or Pages, such as stock accounts, the summary bar provides useful information, such as the current value of the shares held. In summary (pun intended) the summary bar’s profit calculation is not helpful for personal finance since it doesn’t help you know if you’ve stayed on budget. Suddenly the summary bar reports a profit of $-4200, whereas before it said $800. At the beginning of 2013, I had $4200 in my accumulation, and now in August, my accumulation fund has reached maturity. However, let’s say that since April of 2009, I’ve been saving up to buy a car, and it will cost $5000. This is a monthly profit of $100, so at the end of the year, my profit would show $1200. Lets say I will save $100 a month this year, by spending less than I earn each month. However, I find this idea a bit misleading.įor example, it is August 2013. Therefore, it gives a rough idea of how much money I’ve saved so far this year. The profit is calculated by subtracting YTD expenses from YTD income. On the main accounts page, it shows the grand total of all assets as well as the profit. The summary bar appears above the status bar and includes information pertaining to the currently opened tab. How to filter transactions: View -> Filter By… Click the Status tab. Then, when I submit my next reimbursement, I use transaction filtering to narrow down the display to just the un-submitted reimbursements. Sometimes the reimbursements get cleared out of order because I have submitted them out of order. I mark a reimbursement as cleared once I’ve received the money back from the company. I’ve found this to be helpful when looking at a reimbursements account. Note the two checkboxes, Draw horizontal lines between rows, and Draw vertical lines between columns. Edit -> Preferences dialog, then the Register tab. Make the display a little less cluttered by removing the horizontal and vertical lines from the register view. I’m continuing to learn more about GnuCash in order to use it more effectively.
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