Epsilon Symbol

Michael Collier's Avatar

Michael Collier

02 Apr, 2020 12:23 PM

Epsilon looks like the capital E where the vertical part is rounded. This symbol appears in one of my transactions. What does Money
Dance say this means?

  1. 1 Posted by derekkent23 on 02 Apr, 2020 01:06 PM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi Michael

    If you have a transaction with more than one split, then this symbol will be shown on the 'other side' of the split transaction. The symbol is assigned to each 'non-parent' portion of a split transaction.

    Hope this helps.

  2. 2 Posted by Michael Collier on 02 Apr, 2020 04:53 PM

    Michael Collier's Avatar

    Can you please define what you
    mean by ‘split?’ Thanks.

  3. 3 Posted by derekkent23 on 02 Apr, 2020 05:37 PM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi Michael

    Splits are something I never use but take a look at this article which defines a split

    Hope this helps.

  4. 4 Posted by dwg on 02 Apr, 2020 08:49 PM

    dwg's Avatar

    I'm a fellow user.

    Split transactions are often used for transactions like wages/salary where you have a gross amount with various deductions.

    The split transaction start with the gross amount then has entries for things like Taxation, health insurance etc with the remaining balance going to a bank account.

  5. 5 Posted by jimrh on 03 Apr, 2020 09:17 AM

    jimrh's Avatar

    Another use for splits is where a transaction posts as a gross amount, but needs to be apportioned between more than one category.

    I have a business and my wife has a different, (but related), business. I create an advertisement that includes both of us and (for example), it cost $1000. I can use a split to apportion half to My_Business:Advertising and half to Her_business:Advertising.

    Example 2:
    When I make an overseas transaction using a US debit/credit card, the transaction comes across as something like POS [Merchant's name] (fee 2.50) 1075.50
    I can use a "split" transaction to apportion $2.50 of the transactions gross amount of $1075.50 to "bank fees" and the rest to whatever the category for the transaction would be - groceries, gasoline, incidental meals, or whatever.

    You can combine the two examples to apportion a transaction to more that two categories, $2.50 to bank fees, then half of the residue to me and half to my wife, (or whatever the proportional split would be - it does not have to be equal parts.)

    Moneydance can do the math for you: If you allocate $1000 of that transaction to one category, Moneydance automagically does the calculation and shows you that you have $75.50 left to categorize.

    Because of the fact that division is not always exactly equal, amounts may differ slightly. 27.45 to me and 27.46 to my wife.

  6. System closed this discussion on 03 Jul, 2020 09:20 AM.

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