How to create split transactions with Money Manager/Track Your Money

jumpnjack
Contributor

I have wanted to use Money Manager for my personal finances instead of Mint.com, primarily because Mint.com does not update transactions fast enough. (Plus, I'd rather do my budgeting/tracking where I really keep my money.) For instance, a purchase with my USAA Visa or debit cards appears on the account almost instantly in the USAA record so I know what the true balances of my accounts are at any given time. But I cannot switch over to USAA' Track Your Money because I have not found the way to record "split transactions," which are single transactions that need to assign subamounts to at least two categories. A simple example is a $100 ATM withdrawal where the actual transaction is the amount withdrawn plus a terminal fee, so the transaction would be $103 ($100 cash and $3 bank fee). And as the $100 in pocket gets spent we should be able to go back into the transaction and change the categories again. For example, I may want to record the $103 transaction as $3 bank fee, $71.50 dining, and $28.50 entertainment (movie). This is standard today for every other money budgeting tool (Mint.com, Quicken, Microsoft Money, etc.) but USAA's Money Manager doesn't seem to have such a feature. If that's so, it's a huge oversight--one that renders the tool useless for many (most?) people. Does anyone know if Money Manager can perform split transactions? If not, is there a workaround?

24 REPLIES

I too would like to see USAA money Manger have the ability to split transactions. I am a Mint.com user as well and would like to be able to use USAA money Manager instead but with not having many basic features available, I don't want to spend the time setting things up when it's not really going to work for me in the long run.

i KEEP SEEING AN ANNOUNCEMENT FOR "SPLIT TRANSACTIONS" BUT TRYING TO FIND OUT HOW TO DO IT IS LIKE PULLING TEETH.. I EXPECTED TO SEE A REPLY FROM USAA HERE ON HOW TO DO IT, BUT NOOOOoooooo

MUMNUT,

Thank you for your feedback. I will pass it through to the appropriate department and request instructions on how to do so. I am unable to locate anything from here. In the meantime, if you can please click here to provide us with additional detail and your member information. You can also reach a service specialist at 1-800-531-8722.

The people have spoken about the need to have split transaction capability with Money Manager; it should not be a question of whether this capability should be included in this tool, it's a question of when.  I made the move to USAA Money Manager about a year ago (after using the popular money manager tools on the market) when I heard the split transaction feature was going to be added.   While there are many attractive features with USAA Money Manager, the split transaction capability is a big miss.  When should we expect this feature added?  

Can anyone tell me if this option is available yet?  

 

Also how can we incorporate cash transactions into this app?

 

I've been using another app Homebudget which is great for syncing between devices (so my partner and i can keep on the same page) but I'd prefer to just use USAA's service....

 

if these options were availabel I'd close my other bank a/c and move everything to USAA.

Hi MAWAUS,

Thank you for your questions. Split transactions are still not available, but I have asked a budget expert to weigh in on cash transaction options. I will post an update when I hear back! Thank you

Hi MAWAUS,

Below are notes from our expert! Thank you again for posting!

 

Cash withdrawals should already be captured in My Budget. They are categorized as ATM withdrawal which shows up in Miscellaneous.  Because we don’t yet offer the ability to split transactions as mentioned above, you can only select one category for your cash withdrawal.  If you take your withdrawal and make several different purchases we don’t have a way to split up the transaction, so you just have to select the category that fits best.

 

USAA does not yet offer a way to create and view a household budget, but it is in our list of future enhancements.

 

 

I think it's obvious, split transactions are necessary to properly budget for anything as so many catagories can be used in one purchase. When do you anticipate having this feature?

bjd1192,

 

I can follow up with our MyBudget expert as we have not received a timeline. Thank you, Happy New Year!