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                          TO: Interested Christians                                                                                          FROM: Jim Bramer, Retired CPA-Auditor 
                                                                                                                                                                   FILE: 0419-99/env   

                           RE:   Whole Dollar Accounting for Personal Finance                                       Originated in August 2004                     

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     Not long ago I learned that someone kept their books, or financial records,  in "Whole Dollars" only for an entire seven year period of time--- or they rounded up to the next dollar if 50 cents or more and disregarded the pennies if it was 49 cents or less.  Someone was not happy with that process,  so they re-processed all of the transactions for the entire seven years and the net difference was less than 20 cents.

    If you are going to do your personal bookkeeping by manually posting your Deposits, Checks and Credit Card purchases into the QuickBooks or Quicken software,  I believe that it is unnecessary to enter the pennies in each transaction.  If you need, from time to time, to move up or down a dollar to make the result closer to actual, then simply increase/decrease the last transaction.

    By the way ---- you might also find after July 2006 this  Spending Controls  website of value.

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 FINIS:

               Please Click Here for a list Spending Control writings on www.bcidot.org.  Feel free to contact me at Jim@bcidot.org  if you have any comments or questions about any of these matters.  Remember -- It is my desire to encourage you in your Christian walk and to be "Your Servant for Jesus Sake:" Thank you.   II Corinthians 4:5B.  This was updated last: April 30, 2008        

Email Address:  Jim@bcidot.org  - Phone: (559) 298-5507  -- 
 Mailing Address:  2628 East Goshen Ave. - Fresno, CA 93720

http://www.bcidot.org  links:   Spending Control
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