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Personal Finances - Transaction Table

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    Personal Finances - Transaction Table

    Firstly, I'm new to Alpha Five, purchasing Version 10 a week ago, and currently making my way through the help/tutorial (which, by the way is Version 9) files. I'm coming from an Access/VBA background.

    My question surrounds the data schema to account for personal finances. Ultimately I want to replace my reliance on Quicken.

    My question surrounds the Transaction table.

    My first thought: Main fields:

    Trans_ID (pk)
    Account_ID (fk) (effectively, always the from account)
    Date
    Amount (either negative or positive)
    Cleared (y/n)
    ...

    If the above is implemented then effectively a corresponding reverse entry will be required. The amount will change from negative to positive or vice versa and the Account_ID will reflect the other account (so the Account_ID will always be the 'from' Account).

    Is this a half-reasonable way to model the transaction table for personal finances?

    I referenced Quicken above and as many would know for expenses and income categories are used in lieu of accounts but the way I see it is that categories are accounts for design purposes.

    Anyway, I'd appreciate some thoughts on the matter.
    Last edited by Steve T; 12-14-2009, 06:28 AM. Reason: Updated the title, spelling.
    Steve
    Alphafive V10

    #2
    Re: Personal Finances - Transaction Table

    Suggest you order Dr. Wayne's book "Xbasic for Everyone". He uses a checkbook application to illustrate various xbasic techniques. Reading the book is like watching over his shoulder as he develops the app from scratch. Might be very helpful to you.

    Comment


      #3
      Re: Personal Finances - Transaction Table

      Originally posted by Steve T View Post
      My question surrounds the data schema to account for personal finances. Ultimately I want to replace my reliance on Quicken.
      I have done exactly that. See the two attached images and see if they don't give you some ideas.

      Also: what Tom said.
      Last edited by Peter.Greulich; 12-14-2009, 11:24 AM.
      Peter
      AlphaBase Solutions, LLC

      [email protected]
      https://www.alphabasesolutions.com


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        #4
        Re: Personal Finances - Transaction Table

        Thanks for the comments. I've checked on over at the book and I'm sure it would cover most of the xbasic scenarios. I note that at this time it covers version 8, just wondering if a version 10 is around the corner, if not, then I probably will purchase it anyway.

        My question was purely intended from an academic or best practice point of view as up until now I've never really had much cause to design accounting type systems.

        Nice screen shots Peter.

        Edit. Regarding the book, I realise from a purely conceptual point of view, the version of Alpha doesn't matter, the concept is not going to change. It's just reference to the latest version of xbasic would be nice.
        Last edited by Steve T; 12-15-2009, 07:22 AM. Reason: Clarification re - the book
        Steve
        Alphafive V10

        Comment


          #5
          Re: Personal Finances - Transaction Table

          Steven, I don't know if a newer version of Dr. Wayne's book is in the works, but I hope so.

          From an accounting stand point you will need to decide at the outset whether you want your system to support double entry accounting or not. In a double entry system each "transaction" would get posted to two separate and offsetting accounts. You also will need to think about how to handle split transactions. What level of detail do you need to track when you write a single check to a charge card company?

          Comment


            #6
            Re: Personal Finances - Transaction Table

            Originally posted by Tom Cone Jr View Post
            From an accounting stand point you will need to decide at the outset whether you want your system to support double entry accounting or not. In a double entry system each "transaction" would get posted to two separate and offsetting accounts. You also will need to think about how to handle split transactions. What level of detail do you need to track when you write a single check to a charge card company?
            You're absolutely right. Yes, it will be the double-entry accounting style and split transactions is next on my list of design questions but I'll leave that for for the time being.
            Steve
            Alphafive V10

            Comment


              #7
              Re: Personal Finances - Transaction Table

              Steven,
              Having been the executor for my parents "estate" if you would call it that, I learned of the hardship and hours of work of having to search out all the elements to a persons personal affairs when not in the best of order. That is why I promised myself I would have my affairs all in order, and I have done that with an A5 application I started last year. It holds not only my finances, but all accounts including investment, banking, insurances, business (ex: utilities), memberships, credit, charities, education, and also contacts. So I took the approach for my main set structure to be 4 tables: Company, Accounts, Positions, Transactions in 1:M set structure. Each account has a hyperlink to the company website, and I do all my monthly bills online. I download all transactions from my one credit card and reconsile those transactions monthly with posting of payments to company accounts that I use the card for payments. I have all investment holdings in there and have functions that automatically goes to the web and updates the share prices and values. All the balances of bank and finance accounts compile into a summary table, and I have a simple chart graph that shows the sum of all accounts and therefore my net worth. Navigation is through a button (right on screenshot) on all forms that presents an xdialog with a buttons for each form (excluding the current form) to navigate to. Also, I have a budget table for monthly category comparisons of money out and in versus the budget in place (still working on this aspect).

              The great thing is that I have this A5 application tool now to keep my affair in order efficiently. The bad news is the summary net worth chart is showing a downwards slope! :(
              Mike W
              __________________________
              "I rebel in at least small things to express to the world that I have not completely surrendered"

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