We often withdrawal cash at the atm and use it on our trips. What I’d love to see is the difference of cash we’ve withdrawn and the expanses we’ve tracked in the app. So in the end you have something like:
You’ve im withdrawn 2k, you cash expenses in the app sum up to 1.8k, there are 200 bucks which you didn’t submit in the app.
Best regards
Hi,
just my two cents on this:
In my first travel with TravelSpend, I thought about the same. I have made several withdrawals from ATM around Japan and wanted to add these amounts of cash in the app. But no matter how I thought about it, the method wasn’t right. So I decided not to add these withdrawals, at all. Why? Because I add all the expenses into TravelSpend and can even say which are made via credit card and which are made using cash. So I make a credit card withdrawal of e.g. 120 thousand Yen, then I spend some money and add these expenses into TravelSpend. So in the end you would have something like this:
You’ve withdrawn 120k Yen, your cash expenses in the app sum up to 80k Yen, so there have to be 40k Yen in your wallet. And you keep the receit from the ATM, so you can a) make this calculation and b) check at home after the travel that the bookings on your credit card account are correct. Then you throw them away and the details of your spendings are in the app.
That is how I usually do it.
Tandeki
Hi there
Since I recently started using the app I came across a similar problem, and I totally can understand the goal to keep everything as simple as possible.
I don’t have a problem with exchange rates, when paying by credit card, I would simply add or include them in the original expense .
Same goes for additional fees.
What actually would be interesting are ATM cash withdrawals as kind of transfer from one payment type to another.
a) to track them in general:
All individual expenses done in cash or by credit cards are registered as those in travelspend.
To make an inventory
This would be the connection between cash and credit card.
B) it would allow to consider the actual exchange rate that has been used to get the physical local currency.
While writing this post I also was testing some things in the app and came across the following workaround:( maybe worth to document somewhere as a tip as long as transfer transactions or similar are not available, yet. )
I added category ATM withdrawal.
For each withdrawal I created two payments.
One payment with home currency and estimated amount that will be charged to my credit card. (Payment type = credit card)
Another payment with foreign/local currency with the amount of money I received from the ATM. (Payment type = cash)
For both payments I enabled the option to exclude them from daily budget calculation.
For local currency payment I set the checkbox to define it as a refund of a deposit.
Another payment with foreign/local currency with the amount of money I received from the ATM. (Payment type = cash)
For both payments I enabled the option to exclude them from daily budget calculation.
For local currency payment I set the checkbox to define it as a refund of a deposit.
Okay here I found an issue now. Since I have all expenses in cash as expense. But also all ATM withdrawals as refunds of deposits in cash, the sum is positive, which means I received more cash than I spent.
As a result cash expenses are not displayed in the chart anymore, but only my 3 different credit cards.
Here is the chart without any cash slice
Here the entries filtered by credit card
Here the filter changed from credit card to cash:
