#TipTuesday: Tracking cash transactions

Coach Natalie

Although cash isn't used as often these days, there are still times when it comes in handy. It's important to know how to track your cash transactions in Simplifi, and there are two easy ways to do so!

First, if you make a trip to the ATM to withdraw money for a specific purpose, you can then locate the withdrawal transaction in Simplifi and simply add the correct Category. Here's how:

1. Locate the cash withdrawal transaction in Simplifi.
   
2. On the Web App, click into the Category field and select the correct Category to recategorize the transaction. On the Mobile App, select the transaction, click the Category field, select the correct Category, then click 'Save' in the upper right.

You can also split the cash withdrawal transaction into multiple Categories when needed!

The next option for tracking cash in Simplifi is to create a manual cash account. Doing so will allow you to categorize your ATM withdrawals as a transfer to the cash account, and you can then manually add your cash expense transactions as they take place. Here's how:

1. On the Web App, select the +Add button at the top of the Accounts List. On the Mobile App, navigate to the Accounts page and then select the plus (+) button in the upper right. 
2. Select 'Add Manual Account' (Web) or 'Add Account' (Mobile).
   
3. Name your account "Cash" and select 'Other Banking' or 'Checking' for the account type, whichever you prefer. 
   
4. If you already have cash, you can create an "opening balance" transaction. You can also categorize any ATM withdrawal transactions as transfers to the cash account.
   
5. Add a manual transaction each time you spend your cash by clicking the blue plus (+) button to the upper right of your transaction activity on the Web App or to the lower right of your transaction activity on the Mobile App.

Adding a manual transaction each time you spend your cash will allow you to track what you're spending cash on, as well as keep track of your remaining cash balance. 

It's that easy! We'd love to hear from you on any tips and tricks you may have for tracking cash in Simplifi! 
 

DannyB

We include a withdrawal of a set amount of cash each month as pocket money that is part of our spending plan and beyond categorizing it as "Petty Cash" we don't track how we spend it... it's fun money.