A Better Way to Manage Your Everyday Money - Book - Page 219
Initialize the checking account
The intent of this step is to end up with all of your available cash, less your startup allowance, in
the cashflow space’s checking account. If needed:
● Put your startup allowance in your wallet or into a separate checking account with which
you use a debit card.
● Deposit any other cash on hand into the cashflow space’s checking account.
In PerNetFlow, initialize the unallocated balance in your checking account by entering an Other
deposit.
If you have been keeping a record of the transactions in your cashflow space's checking account,
you will no longer do so. PerNetFlow maintains the transaction register for you.
If you do have one, keep your old transaction register only until all of the transactions in the old
record have cleared on a checking account statement.
Initialize credit card activity
In this step, enter all charging activity that has not yet appeared on a statement for the credit
cards that you added to your cashflow spreadsheet as credit cards. Remember to add charges and
refunds separately as discussed in Chapter 9.
If needed, create amortization plans for any high balance credit cards as discussed in Chapter 12.
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