If you spend cash, it’s likely that you see the cash come out of your checking account as an ATM withdrawal or if you're paid in cash you need a way to account for it in your finance spreadsheet.
Cash is usually spent over several days across multiple categories. We recommend two methods for tracking cash.
Simple Cash Tracking Method
Use the Tiller Money Labs add-on to split the original ATM transaction into multiple transactions using multiple categories.
Note: If you are paid in cash, and thus no ATM withdraw transaction appears on your Transactions sheet simply add a row anywhere on your transactions sheet and fill in the details of the cash income transaction.
Super Tidy Cash Tracking Method
Categorize the ATM withdraw as a transfer.
Add a new row for a credit in the amount of the cash withdrawn from the ATM, allocate it to a "CASH" account, and categorize it as a transfer.
Add new debit rows for each purchase paid with cash coming out of the CASH account and categorize the spending as you normally would.
Note: When using the Super Tidy Cash Tracking Method if you spend all your cash, and you track all that spending, your amount in the cash account should total out to $0.
📕 Read more in-depth about tracking cash on the Tiller blog.
📺 Watch a replay of a Tiller Money Live webinar on this topic.