A Better Way to Manage Your Everyday Money - Book - Page 39
The Consolidate Money feature is particularly useful in situations where you set aside money to
multiple savings ledgers, but you send all of the money in the savings ledgers to one place.
Donating a percent of your income in support of a charitable
establishment or organization is an example.
● In PerNetFlow, you have a percent of income savings
(discussed in Chapter 6) for each of your incomes from
which you are donating. In your spreadsheet, the planned
set-asides to the savings ledgers are the percent of the
expected income amounts. The actual amount of each
income that is set aside to the savings ledgers is the percent
of each income deposit.
● You donate the money online by:
○ In your browser, transfering the total of the balances in the savings ledgers from
your checking account to the recipient
○ In PerNetFlow, updating the balances in all of the savings ledgers with one
Consolidate Money entry in PerNetFlow
● You donate the money with a paper check by:
○ Writing a paper check for the total of the balances in the savings ledgers.
○ In PerNetFlow:
■ Moving the balance from all of the savings ledgers to one consolidation
ledger (probably the Unallocated ledger) with one Consolidate Money
entry.
■ Deducting the amount of the paper check from the one consolidation
ledger with one Enter Fee/Write A Check entry.
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