Reimbursement from employer

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Dandy
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Reimbursement from employer

Post by Dandy »

I have been using Money Manager Ex for 2 years and I am absolutely satisfied with this program.

Recently I have faced a new problem and I would be happy to receive some advice.

Situation:
I spent some sum of money from my Cash or Credit Card account in order to purchase something for my office. I will get my money back when I receive my next salary, after sending a receipt to the employer.

Question:
Let's say I paid $50, so it should be a withdrawal, correct? But actually, it is not an expense since I am going to get my money back!
Let's say my monthly salary is $1000. My next salary is going to be $1000 + $50 = $1050 as income. But $50 actually is not income, rather a return of expenses.

So I am afraid that my Income/Expense report will not be correct.
Do you have any ideas on how to manage it? ;)

===========================================================================================
23/03/2022
Probably, I have found a solution and I would like to know your opinion.

I create a new Loan account and transfer money from/to this account.
I paid $50 cash for some stuff for my office. Instead of writing it as withdrawal, I make a transfer from my Cash to my Loan account with proper comments. Since it is not a withdrawal, it is not going to be present in the report as an expense.
At the beginning of next month, I will receive my monthly salary of $1050 instead of $1000. But I will write it in 2 rows, not in one.
Salary = $1000
Refund = $50 - this is transfer back from my Loan account to my Cash account.
As for as I understand, the expense/income report should be OK, since it is not taking into consideration transfers.
Is it a good solution?
Last edited by Dandy on Sun Mar 27, 2022 7:01 am, edited 2 times in total.
dbolton
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Re: Refund of money from employer

Post by dbolton »

I have a Reimbursement expense category and Reimbursement income expense category.
  • The reimbursement income category lets me separate reimbursement income from the normal income category.
  • The reimbursement expense category means I can also review the transactions and attach any necessary receipts.
  • Looking at both categories, I can check the sum equals zero.
Dandy
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Re: Refund of money from employer

Post by Dandy »

dbolton wrote: Thu Mar 24, 2022 3:41 am The reimbursement income category lets me separate reimbursement income from the normal income category.
Thank you for your post.
Yeah, it looks like a better solution. But there is one problem - I can not split my income in a similar way we can do it in any withdrawal. I receive my salary together with the reimbursement, in one sum. In the example above you see the sum of $1050. So you should use 2 rows anyway, otherwise, you can not separate reimbursement income from the normal income category.
whall3y
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Re: Refund of money from employer

Post by whall3y »

Dandy wrote: Thu Mar 24, 2022 6:16 am
dbolton wrote: Thu Mar 24, 2022 3:41 am The reimbursement income category lets me separate reimbursement income from the normal income category.
Thank you for your post.
Yeah, it looks like a better solution. But there is one problem - I can not split my income in a similar way we can do it in any withdrawal. I receive my salary together with the reimbursement, in one sum. In the example above you see the sum of $1050. So you should use 2 rows anyway, otherwise, you can not separate reimbursement income from the normal income category.
For the Income transaction just create a split transaction with $1000 categorized as your normal income category and $50 as your reimbursement category.
whall3y
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Re: Refund of money from employer

Post by whall3y »

dbolton wrote: Thu Mar 24, 2022 3:41 am I have a Reimbursement expense category and Reimbursement income expense category.
  • The reimbursement income category lets me separate reimbursement income from the normal income category.
  • The reimbursement expense category means I can also review the transactions and attach any necessary receipts.
  • Looking at both categories, I can check the sum equals zero.
Not sure why you need two categories. Just one category for 'Reimbursement' would be enough. However, I know people do things differently and if it works for you then fine.
MartinArmstrong
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Re: Refund of money from employer

Post by MartinArmstrong »

whall3y wrote: Thu Mar 24, 2022 7:59 am Not sure why you need two categories. Just one category for 'Reimbursement' would be enough. However, I know people do things differently and if it works for you then fine.
NB. The manual contains notes wrongly warning about incorrect balance calculations if you use the same category for income and expenses viewtopic.php?p=22646#p22646

These notes could be removed - or at least explained better.

The manual needs some love and attention to bring it up to date with new MMEX features. Is there anyone who has the time and inclination to do this?
whall3y
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Re: Refund of money from employer

Post by whall3y »

MartinArmstrong wrote: Thu Mar 24, 2022 9:39 am The manual needs some love and attention to bring it up to date with new MMEX features. Is there anyone who has the time and inclination to do this?
Agreed, would be great if users could volunteer and help maintain the manual.
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