Cash Tracking feature can be a little confusing. Let’s see how it works.
- The Cash Tracking feature is specifically designed to track the cash that you withdraw from your bank account via the ATM.
- Once you have taken money out of ATM, it will appear in Moneytree in your green Spending card.
- Whenever you add cash transactions, the total of your ATM withdrawal amount will go down by the amount of the cash tracked.
- For example, you take $100 out of the ATM, and spend $50 on dinner. If you track that with the Cash Tracking feature, the total of your dinner ($50) will be offset against the $100 you took out of the ATM, leaving you with $50. So in the Spending card you will see something like this:
1.You take $100 out of the ATM.
2.Spend $50 on dinner and track it.
3.In the Spending card you will see that $100 is reduced by the amount you spent on dinner - $50.
4.If you tap on “Cash $ ATM”, you will see the further breakdown of your spending.
It is up to you whether you would like to be more specific and track all your cash spendings in detail, or just to have a rough idea of your spendings.
*Moneytree does not consider the cash in your wallet as an asset once it is taken out of your account. However, Moneytree will offset your cash spending against the amount you withdrew from the ATM.