An IOU being put into a piggy bank

All About Reimbursements

July 29, 2022

Mobile App Instructions

Have you ever purchased something for family, friends, or work that you were expecting to be reimbursed for later? Maybe you were splitting a meal or going in on a gift, and you paid up front and everyone else was going to pay you their portion later. We are going to show you one way Ploutos Budget can help you keep track of reimbursements and who still needs to pay you from within your budget.

Reimbursement Category

Reimbursement Collection

First thing you are going to want to do is create a "Reimbursement" collection. Next you are going to want to create a "Reimbursement" category inside that collection. Now if you deal a lot with reimbursements from work and personal life you may want to create 2 reimbursement categories inside this collection. One for work and one for personal. For the sake of this tutorial we are going to have one category in our collection.

Adding a Transaction

Reimbursement Transaction

Now that your collection and category is set up you just need to appropriately assign the category when entering transactions.

In the example above we went in on some pizza with a friend. When selecting which category to pull the money from in this example we are going to split it across multiple categories by selecting Split from the category list. You can see when you select Split from the category list that a new section is added with two new sections to break up the payment into. If you need more than 2 sections you can select the plus icon below the split section. We are going to assign our share just like we would any other spending and select which category we want to pull the money from. Then for our friends portion of the bill we are going to select the reimbursement category.

Tracking Money Owed

Reimbursement Still Owed

We can now easily keep track of if anyone still owes us money. From our budget screen we can check the reimbursements category and if the balance is negative then someone hasn't paid us back yet.

This same method can be used whether you split the bill with 1 or multiple people. Like-wise if you bought something for work where you were going to get reimbursed 100% of the cost then instead of splitting the transaction you would just put the whole amount as a reimbursement.

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