How does $TFR and $CASH work?
$TFR and $CASH are two very useful options for naming and categorising.
They are specifically set up to help you manage cash withdrawals and transfers between accounts. These two prefixes will learn to automatically apply themselves, just like Names and Categories.
ALL ABOUT $TFR -
$TFR stands for Transfer, and specifically refers to transfers between any two of YOUR OWN accounts - e.g. when you transfer money between your Bank Account and your Credit Card, or from one account to another.
Because transfers between accounts aren’t purchases they need to be treated differently. Hence the $TFR prefix.
You need to have added that account to Budgets Get Real in order to mark a $TFR transfer to that account.
To mark a transaction as a $TFR in the Transaction Register:
‘Select to set Name’ then pick the account to which you transferred the money.
$TFR names are automatically created for each account you have added to Budgets Get Real, and there is no need for categorisation. That is done automatically.
ALL ABOUT $CASH -
$CASH is a unique way of tracking the cash that you might take out in store or at the ATM.
Use $CASH in conjunction with Wallets to track, budget and categorise your cash withdrawals & purchases.
You use $CASH to assign any cash withdrawals to your Wallet, and then use the Wallet to keep track of what you did with the money, much like you would in real life.
You can use multiple Wallets, to keep track of money between your Wallet and other Wallets. Cases where this might be useful include tracking cash given to your partner, or even your childrens allowances.
To mark a transaction as $CASH in the Transaction Register,
‘Select to set Name’ then pick the account from which you withdrew money.
That money will automatically be assigned to a Wallet and marked as $CASH.
$CASH names are automatically created for you, and there is no need for categorisation.
That is done automatically.
You need to have created at least one Cash Wallet in order or mark a cash withdrawal with $CASH and allocate that money to a Wallet.
