I have transactions set up to split where we get cash back (like grocery store split groceries/cash)

VermillionSands

I'd like to track the spending of the cash - is there a best-way to do this?

Thank you!

Flopbot

@VermillionSands , so I better understand, are you saying that you are using a “cash envelope”approach for some/all of your groceries?

VermillionSands

No - let me clarify, Chris:

My wife likes to pay for some things with cash, so a few times a month, while at the grocery store or any place that offers "cash-back", she will get an amount of cash in addition to the items (may be groceries, may be clothing - any place where the card-reader offers the option for cash-back) she is purchasing.

[At this point, she walks out of store with items purchased and an amount of cash]

This cash may be used for tipping (better for servers than adding to a card), or small purchases where cash is easier or quicker to use.

Right now, I have a sheet where each spending of cash is recorded (completely outside of Simplifi). The only record Simplifi has at present are transactions which have been split so that some category[ies] is/are listed in addition to cash. So I can see overall amount used on the category, cash. But I do not have a list of where/how much was spent with it (in Simplifi). This is the part I'm unclear of if I can record in Simplifi. Hopefully that paints a bit clearer picture?

John

Flopbot

Okay, I’ll have to give that one a little thought.

You could have “Cashback” as one of your Categories and then do the split with it (ex. Groceries/Cashback)? I honestly don’t know what to do at that point; hopefully someone more creative comes along.

This isn’t what your looking for, but here’s a post about how I do an Envelope System for our groceries.

https://community.simplifimoney.com/discussion/4914/cash-envelopes-simplifi

ajbopp

I think what I might do in this situation is create a manual cash account and record this in Quicken Simplifi as a transfer.

If I use a credit card to:

Buy groceries for $100
Get $50 cash back
Pay $5 service charge

Then I would probably record it with a split

Category - Groceries, $100
Category - Fees and Charges, $5
Category - Transfer, Subcategory - Cash Account, $50

I haven't tried it myself, but I think that should work. Something like this:

Then you can record your tips and small purchases in your Quicken Simplifi Cash Account register just as if it was a bank account.

Flopbot

I’d approve of @ajbopp ’s Idea. That’s pretty clever I think should work.

VermillionSands

Thanks - left for a bit on camping and back in civilization (or passes as it :-P) I'll give the above a try and report after running with that process a bit. Appreciate the suggestions! Thanks

John