tag:infinitekind.tenderapp.com,2009-01-14:/discussions/problems/342-simple-trackingInfinite Kind: Discussion 2018-10-18T13:54:19Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/4154342009-10-11T19:33:34Z2009-10-11T19:33:34ZSimple tracking<div><p>Accounting can be confusing and MD's built-in help files are not
as detailed as one might need.</p>
<p>Basically, MD "accounts" are your checking, savings,
investments, loans, etc, at financial institutions and "real"
property, like a home. MD's "categories" are the groupings that you
use (in MD) to track your expenses and income. Both these types of
groupings (accounts and categories) are manipulated via MD's
"tools" menu "edit accounts" and "edit categories" functions. These
functions allow you to add "new", "delete" and "edit" and view
(double on one in the list that shows when you select the
function).</p>
<p>To enter a MD account transaction (bill payment, purchase, wage
deposit, interest deposit, etc), you have the choice of doing it
manually (new transaction), downloading from a financial
institution as a file and importing it (file menu>import) or
downloading it directly via the "online" menu in the account's
(register) view. payment, Most financial institutions have web
sites where they allow downloading a transaction file. Maybe 70%
allow direct connection (MD online bill pay and download).</p>
<p>MD category transactions are usually entered by specifying which
category an account transaction should be recorded under (via the
"category" portion of the transaction shown in the account register
view). You can also enter them manually in a category register
(view), but that can mess you up quick if you do not understand how
MD, and double-entry accounting, operates; most people use this for
correction work after they gain an understanding.</p>
<p>The basic idea is: accounts are records of real
assets/liabilities and categories are records of you use your
asset/liability use.</p>
<p>The MD home page provides a current summary of your accounts
(and a few other things you might set up); thoughtful setup of
"parent" accounts allow it to provide a pretty good financial
overview. Setup home page via "file> preferences" and "tools"
menus.</p>
<p>Though somewhat limited at present, MD "reports" allow you view
accounts, categories and their activity/transactions over selected
periods (vs just a current snapshot). Setup reports via the (graph)
icon in the upper, right of the home page.</p>
<p>The budget report, and manager, allow you to compare how your
current financial activity compares to what it has been in the past
and goals you set. Setup budgets via the "tools > budget
manager" menu.</p>
<p>The I hope this brief overview helps, especially regarding the
difference between categories and accounts, which can be somewhat
unclear in MD.</p></div>avp2