This article is about how you can use the 'Split Transaction' feature on Money Dashboard Classic to handle cash transactions.
2. Handling cash by 'Split Transaction' feature
Important to note
The split transactions date is not editable, hence the cash spend will appear linked to the day you have made the ATM withdrawal rather than the day on which you spent the cash
Handling cash by 'Split Transaction' feature
Before we begin the main method for dealing with cash is by using the 'Split Transaction' feature. We will first run through a scenario and it as an example to show you how use the 'Split Transaction' feature to handle cash transactions.
So you decide to take £30 out of the cash machine. You are going to use this money to pay back a friend and for some other smaller payments during the day. Let's say you owe your friend £10.
- You give the friend the cash, then go to the transaction for the cash withdrawal in the Money Dashboard Classic application. Select the transaction and select split transaction. Insert a value of £10 into one part of the split and assign the appropriate tag (Probably going out in this case).
- This leaves the other £20 with the original tag.
- This 'new' transaction will now appear on your transaction list.
Over the next couple of days you spend £6 on lunch with the cash you have left. You also spend £10 on toiletries.
- To deal with this you would go to the transaction for the cash withdrawal (Now with a value of £20).
- Select split transactions and set one with a value to £6 (add the tag Lunch)
- Then split the transaction again and set one with the value £10 (add the tag appearance)
- This creates 2 more transactions and leaves the original cash withdrawal as a value of £4 which is still in your pocket as cash
How to split transactions?
Currently the 'Split Transaction' feature is only available on Web (desktop) and if you are on mobile, iOS. The article 'How do I split transactions?' provides step-by-step instructions on how to do so.