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                           TO:    Interested Onliners                                                                                               FROM: Jim Bramer, Retired CPA-Auditor 
                                                                                                                                                                         FILE: 0419-99/01   

                           RE:   Whole Dollar Accounting for Personal Finance                                             Originated in August 2004                     

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          Not long ago I learned that someone kept their books, or financial records,  in "Whole Dollars" only for an entire seven year period of time--- or they rounded up to the next dollar if 50 cents or more and disregarded the pennies if it was 49 cents or less.  Someone was not happy with that process,  so they re-processed all of the transactions for the entire seven years and the net difference was less than 20 cents.

           If you are going to do your personal bookkeeping by manually posting your Deposits, Checks and Credit Card purchases into the QuickBooks or Quicken software,  I believe that it is unnecessary to enter the pennies in each transaction.  If you need, from time to time, to move up or down a dollar to make the result closer to actual, then simply increase/decrease the last transaction.

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 FINIS:  Please Click Here for a list of our eEnvelope writings.  Feel free to contact me by Email if you have any comments or questions about any of these matters.  Remember -- It is my desire to encourage you in your Christian walk and to be "Your Servant for Jesus Sake:" Thank you.   II Corinthians 4:5B.  This was updated last: October 19, 2008        

Email Address:   Jim@bcidot.org  - Phone: (559) 298-5507  -- 
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