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PostPosted: Tue Dec 27, 2005 5:42 pm 
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Joined: Tue Dec 27, 2005 5:22 pm
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Hi, I've been checking out Checkbook and wanted to know:

Are "descriptions" the equivalent of "categories" in other apps? or should that be "types"? Or, should "Types" be just "checks", "deposits", "ATM", things like that? I could see where without a plan here, the accounting could get confusing.

Because I have different income sources in my work, I want the program to reflect that as such so that when I print out a report, I know how much I made from each. Also, I want to see any expenses against that particular income reflected for tax time.

For example, I do two lines of work but for now have both incomes going into a main checking account. So, how would be the best way to set this program up for that: descriptions, types, or accounts?

I like the way your program is streamlined, but want to know how this program is intended to be set up.


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PostPosted: Thu Dec 29, 2005 12:58 pm 
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We shipped CheckBook with Types aimed in one direction, categorizing how an Entry's funds were transacted (Check, Debit, Online Payment), but they can be far more useful for many users when used to categorize what an Entry's funds were used for (Groceries, Gas, Rent). You can modify each Account's Types to suit your needs by selecting Edit Account... from the Account menu, which brings up the Account Options sheet, then pressing the Types tab. Remove the default Types, if necessary, and set them up exactly the way you like.

In your case, you could go at least two ways: create Types to differentiate between income and expenses within the same Account, or create separate Accounts for each line of business.

With Types, you could create a Deposit Type for each line of business: Salary, Business A, and Salary, Business B. That would give you two line items in your Account Summary. You could also create Debit Types for each expense category for each line of business, ie. Gas, Business A, Office Supplies, Business B. If you needed to see the totals for each line of business you could set up Account Summaries with the Filter set to Type, and the Filter data set to the specific line of business name used in your Types.

With separate Accounts, you lose the Type naming complexity, which can be a good thing. Since both businesses operate out of the same Real World Account, however, you also lose some of the ease of reconciling.[/i]

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