Refunds and Credits
How to handle Refunds and Credits without creating "Income" categories for every Refund transaction.
After all a Refund or Credit is not strictly INCOME.
Thanks for the solution, all transactions have now been corrected...........
AdminAlex (Admin, iBear LLC) commented
Hi! You can record refunds as negative expenses. Use the "±" on the on-screen keyboard to make a number negative.
Thanks Anonymous....... that seems to work but the solution would be even better if the figures in the ( ) were shown on a "green" background when posted, that would be much easier to identify the transaction as "positive"..........
U can easy that for use it as expenses
i.e. Purchase $50 and make a refund.
You can entry as expenses and marks "+/-"
As a result will show (50.00)
I'm very surprised that no one else has experienced this fundamental problem in Money Pro
How do most users handle REFUNDS and CREDITS.........?????
I notice that there hasn't been any comment from the iBearSoft developers/experts !!
Yes - I totally agree on that one. You order clothes online worth your whole budget but only keep half of it and still money pro displays you've spent the whole budget just because you can't have income in the expense categories
We really need a way to enter a returned credit for goods in the expense account rather than a separate income account. This is instrumental in evaluating budgets. If I spend $500 on clothing in a month but return $300 of it, i actually only spent $200. Right now there is no way to track
This would be a great option which can be turned on or off in settings.
For example i spend 500 on dining out using my credit card and my friend pays me 200 for his share in cash. I want to log the income agains the dining out expense.
We live in a world of "Returning" goods. It will really be helpful if the app can allow for logging the return income against the original expense category. (Like MS Money)
Another MS Money feature I miss during my first testing is the ability to exclude accounts from my budget!