When recording cash transactions on the BudgetTracker site, the first thing to think of is how does it actually get effected in your bank records. Although BudgetTracker gives you the ability to use the site in a way that best fits your needs, below are some suggestions for how to record cash transactions:

  • ATM Withdrawals – With an ATM withdrawal, there is usually a fee involved if it’s not coming from your bank so we’ve built in a way to handle those types. When creating a new transaction, select the type and choose Transfer since this is essentially a transfer from your Checking Account to your Cash Account in BudgetTracker. You then have the option to select the “Fee” checkbox. Checking this box will first create a withdrawal split transaction including the fee from your Checking Account. It will then generate the deposit transaction minus the fee you’ve entered so your Cash Account doesn’t end up showing more than you actually have.
  • Cash Back – When entering a cash-back transaction, it’s best to try and match what your banking statement shows. If for example, you went to the market and got $20.00 from a $100.00 bill, your bank statement would only show $100.00 deducted from the account. If you’d like, you can create a split transaction of $80 and $20 and apply the budget categories as needed. Then create a separate deposit transaction into your Cash Account for $20.00 which is money you received from the market. In a future release, we’ll be including a way to generate the extra deposit for you automatically so you’ll only need to enter in one transaction.
  • Cash Withdrawal – This should be setup simply as a transfer from your Checking Account to your Cash Account. If you don’t see Cash in the Account drop-down, you’ll need to go to the “Settings” page and make sure Cash Accounts are not hidden.
  • Extra Cash – If you’ve received or spent cash from or to some other source not related to your accounts, you can record these as single transactions. You can then attach the budget category that best fits how the cash was received/spent. Remember that you can create Income Budget items on the My Budget page if you’ve received extra cash to have this added into your Budget equation.