I have a number of accounts set up in KMyMoney (5.0., each associated with credit card, savings or chequing accounts. I wish to set aside money from one of the savings accounts for future purchases without impacting the balance of that account; it needs to reconcile with its associated financial establishment. I know I can create an account for future savings but I don't know how to transfer money to that account without impacting the balance of the related savings account.

Is there a way to establish a "Future Purchases" account, one without an associated financial institution, that receives deposits from an existing account without impacting that accounts balance? What I'm trying to achieve is a way of tracking funds that are deposited in the same account as an existing savings account but earmarked for a future purchase. For example; My savings account contains $20k, I'd like to earmark $10k for a future purchase. How do I track the $10k without actually moving it to a different account?

Regards

That is not easily possible One way could be to set the minimum balance for that account. KMyMoney will then warn you if the balance would drop below it. Check the limits tab in the account editor and the account balance chart which shows the limit as horizontal line. Hope that helps.

ipwizard wrote:That is not easily possible One way could be to set the minimum balance for that account. KMyMoney will then warn you if the balance would drop below it. Check the limits tab in the account editor and the account balance chart which shows the limit as horizontal line. Hope that helps.

I puzzled over your response until I re-read my question (Several times!). I know see the solution you offered makes perfect sense based on the question I asked. What I asked however is not what I meant . Please allow me to ask again!

I have a savings account into which deposits are made on a regular basis. Once a month the amount of one of the deposits will be set aside (Earmarked) for a future purchase. I'd like to track these deposits so I'm able to identify when my target of $10k has been reached. At first I thought I could set up a separate account and deposit those funds there. I quickly realized this wouldn't work as information downloaded from the bank would cause issues - deposits made at the bank would show up in the wrong account.

I think I've figured out how to achieve what I need. If I create a category named "Future Purchase" under Income then make deposits to that category, I'll be able to track funds associated with such deposits. I could then create a report to track these deposits and monitor that to see when my goal is reached. Does this make sense?

I have not completely thought it through but it sounds like an option to solve your problem. Of course, when doing so, the standard reporting on your income sources will provide different results (since the income now comes from the Future Purchases. Also, you have to think about how to reverse those when you actually make the purchase.