The side bar balance and anywhere that values the account will add up the parent and the sub accounts - as you have seen. I save money differently by 'hiding' it from reports. Thus when I run reports, the savings are hidden from the bank account.
I assume this is 'pretend' savings where you 'hide' the money from your bank account? If yes, see below. If not, then ignore
1. Under your master account create a sub account called hide-savings.
- E.g. if bank is called BANK, then create under BANK a sub account called hide-savings
2. Create a new Asset account called my-savings
3. every time you want to save, then transfer money from the bank sub account called hide-savings to the asset account called my-savings. You can do this monthly by a transaction reminder.
Now your bank account balance in reports and sidebar will show you the net amount (less savings). Your Bank register will not show the savings transactions. Reconcile will still work. When you want the money back, just delete the transaction(s) from the sub account called hide-money. Easy!
I hope this makes sense?
(If you want savings for various things, then keep the single hide-savings sub account and create multiple asset my-savings accounts... E.g.
>>>>>sub-savings for car
>>>>>sub-savings for holiday
on 29 Nov, 2020 03:15 AM
First I tried you cant create a sub account as an asset under Main account-Bank
Must create sub Bank account under Bank Main account. anyway I have that part figured out. Attaching screenshot.
Have a Bank account called "Checking" and a Sub-Account called "New Account"
Checking has a deposit of $500 and a transfer of $150 to "New Account"
Checking register balance is $350 as It should be. "New Account" register balance at $150.
my question is if you look at the sidebar it shows "Checking" balance of $500 and "New Account" balance of $150. This makes it look like you have $650 available to both accounts, yet you only have $500 available $350 Checking and $150 "New Account"
I have changed preferences to show "Balances" or "Current Balance" and it still shows $500 in "Checking"
I think the issue here is sub accounts are considered part of the main account, and the main account shows the total.
So, although you are segmenting the account, you are not hiding anything. And the total of the main account does show the summation, and you need to know that it does sum the sub accounts into the main.
Note that Stuart hides the sub account from REPORTS, you are asking about the sidebar.
Given what you describe (and me assuming what you want to do), I don't think a subaccount is what you want. When I've encountered what I THINK you want, I create a new regular account called EXACTSAMENAME (TempParents), and then hide it, still moving the money you want to it.
In this case instead of $800, you will see $700 in the main account (even though it is still actually 800) and you will have a balance of 100 in the EXACTSAMENAME account(which you've hidden)
As I said, my method hides from reports not from the side bar and I think IMHO that’s a better way to go for hiding and budgeting. Yes, Asset accounts you create are not sub accounts of the bank account in question, they are in their own Asset structure. This means that all your bank accounts can ‘hide’ savings to the asset accounts.
on 29 Nov, 2020 09:36 PM
Thanks . I think I was reading your information wrong. I created Master
account and sub account checking and sub account. I was entering into
Master account and that was creating erroneous balances. I figured out if
you only enter transactions into sub accounts everything works as expected.
Then the master account will show summary of total of both accounts. Now
all accounts in sidebar match the register.