How can I make percentage split transactions automatically round?
Sep 23, 2010 16 Replies
M
Mr.Jan
My partner and I split all expenses on one credit card 50/50. I memorize the transaction as percentages but if the dollar amount contains an odd number of cents ($17.37), then it makes me go through a couple of steps to post the rounded amount. Not a big deal but annoying. Any thoughts?
Thanks
Mr. Jan
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T
TomYoung
I don't think there's any way to do that. Unless I'm missing something here it seems like the easiest way to handle this is to just record charges on this card in the usual fashion and then divide by 2 when the bill arrives.
Tom Young
M
Mr.Jan
. I guess my method of accounting is a tad more anal than most. On the assumption that I will pay the balance of my credit card bill at month end, I treat credit card charges as I do uncleared checks. I have a report I run to net checking, accruals for annual expenses, and credit card charges. If the net is positive, I can go out for lunch. When I have to write the check at the end of the month, I know there is money waiting. To do this, I have to record the charges as they come in and that means putting 50% of each charge against this account to show up as a positive when I run my "Funds balance available" report.
I agree, there is no way to do the rounding with this version of Quicken. Sigh.
S
Sharx35
If you did the moral thing and got LEGALLY married, chances are you wouldn't have to be so anal about your expenses. Your attitude, e.g. God help that you should have to pay ONE effing penny more than your partner, is the reason so many marital partnerships go "south". Marriage is SUPPOSED to be a total union of resources, including FINANCES.
M
Mr.Jan
Wow. What a an amazing bit of insight. Of course, you are overlooking the fact that we HAVE joined our finances and are simply trying to keep track of each loving partner's contribution so that we can make informed financial decisions and predictions. The idea that we just throw all our money into one pot (which we do now) and don't track it seems to be a bit uninformed.
You also may have misinterpreted the point of the question. I realize a charge with an unequal number of pennies will result in one party having a penny more but it would seem that Quicken would round our
50/50 split transaction without asking me if that was "OK". Just an interesting Quicken problem that may have no solution. As always, thanks for the laugh.
R
Richard
"If you did the moral thing and got LEGALLY married, chances are you wouldn't have to be so anal about your expenses. Your attitude, e.g. God help that you should have to pay ONE effing penny more than your partner, is the reason so many marital partnerships go "south". Marriage is SUPPOSED to be a total union of resources, including FINANCES."
Once again, the Reverend has spoken. What would we do without the "morality police"?
Sharx35, maybe just once you could respond "on-point".
M
Mr.Jan
Hey, if you don't know anything about the product (Quicken), you have to depend on people listening to you because it is the moral thing to do. Explains why so many evangalists get caught in men's rooms.
S
Sharx35
A cum is a cum is a cum. You have a problem with THAT?
S
Sharx35
It's no laughing matter. I do hundreds of Canadian income tax forms every year for clients. I make it clear, to common-law couples, that I prepare the taxes in such a manner, that, COMBINED, they will pay the least possible amount of taxes to the Canadian government. I don't care if ONE of the couple ends up paying more than their "supposed fair share"--key is that the TOTAL taxes they pay collectively is as low as possible.
Re your cited case--I keep a Quicken cash account showing my wife's cash transactions and I keep a Quicken Cash account showing MY cash transactions. ONE joint-checking account. Various broker accounts, ALL IN JOINT NAMES, save for the RRSP (like your IRA) accounts which legally HAVE to be in individual names. ALL non-cash expenses are paid from the joint chequing account or the JOINT credit-card account. Deposits are made into the joint chequing account without ANY concern over how much each individual CONTRIBUTES or SPENDS. We are an economical UNIT so it doesn't matter a tinker's damn who spends what.
M
Mr.Jan
We dont care who spends what either. The tinkers damn is for who contributes what.That is a very cute concept you have about how every household should track their finances the same, happy go lucky way you two do yours. I am starting to see why you want everyone to move their personal lives to match your accounting process rather than set up a set of books that meets their reporting needs. Much easier for the accountant if the baker and the steel mill all have the same ledger accounts. I can see how your practice must work like an assembly line with no thought to the customer's requirements but how can we shoehorn everyone into the same mold.
B
Bob Wang
He has clients??!!
M
Mr.Jan
More like victims, I think. I hear everybody who walks through the door must pass a morality screening and they have to all fit into his pre-created spreadsheet for tax work.
S
Sharx35
Sometimes it IS a matter of educating some clients so that they understand what is BEST for them. Since they don't have the skills and training that I have, re Canadian income tax, this is part of the service I render.
S
Sharx35
In Canada, "wang" is slang for "prick". In the U.S.????
S
Sharx35
I have clients of various colours, races, ethnicities, religions, sexual persuasion, marital statuses, etc.. Their money is ALL good. I do not moralize, I simply point out how various things affect the income taxes they pay, bottom line.
M
Mr.Jan
No. Wang is not slang for prick but we are beginning to use Sharx with some commonality.
M
Mr.Jan
So you are all over my case for not being married because I am not one of your clients? If I were your client contributing to your lavish lifestyle that does not quite allow you to purchase a new version of Quicken every year, we would move to the OK side of god's ledger?
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