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MS Money. How to correctly categorize business trip in Money? RRS feed

  • Question

  • My company gives cash for business trip in advance to my regular bank account (debit card). After trip I claim expenses and return the excess cash to company (or getting extra cash from employer if my expenses exceeded the advance)
    What will be the proper way to categorize such movements of cash in MS Money (Home and Business), so i will have adequate statistics of my personal spendings versus business trip spending?
    Saturday, June 4, 2011 8:02 AM

Answers

  • Not sure whetther I created these categories or if H&B did that for me, but I have Job Expense : Reimbursed and Job Expense : Non-Reimbursed categories.   Job Expense : Non-Reimbursed is assigned to Schedule A  - Miscellaneous tax category, but your expenses that are to be reimbursed simply get charged to Job Expense : Reimbursed and your reimbursments are debited to the same category which should always eventually net out to a zero balance.  Since you also get cash advances, debit the Job Expense : Reimbursed.

    I also set up a favorite report for this category to easily see the running balance for expense reports.  These are normally still considered personal expenses since you are an employee.  H&B "Business" expenses are normally for a side business type venture.


    • Proposed as answer by ameridan Saturday, June 4, 2011 7:15 PM
    • Marked as answer by nitrogroup Sunday, June 5, 2011 7:00 AM
    Saturday, June 4, 2011 7:15 PM

All replies

  • Not sure whetther I created these categories or if H&B did that for me, but I have Job Expense : Reimbursed and Job Expense : Non-Reimbursed categories.   Job Expense : Non-Reimbursed is assigned to Schedule A  - Miscellaneous tax category, but your expenses that are to be reimbursed simply get charged to Job Expense : Reimbursed and your reimbursments are debited to the same category which should always eventually net out to a zero balance.  Since you also get cash advances, debit the Job Expense : Reimbursed.

    I also set up a favorite report for this category to easily see the running balance for expense reports.  These are normally still considered personal expenses since you are an employee.  H&B "Business" expenses are normally for a side business type venture.


    • Proposed as answer by ameridan Saturday, June 4, 2011 7:15 PM
    • Marked as answer by nitrogroup Sunday, June 5, 2011 7:00 AM
    Saturday, June 4, 2011 7:15 PM
  • Thanks for advice.

    Just looked into categories - these are standard in MSMoney.

    Sunday, June 5, 2011 7:01 AM