Write a brief description of what the template does.
I’ve created a sheet and title it HSA Expenses. It pulls all transactions I’ve labeled as “HSA Tracking” in my category column.
What is the goal of your workflow? What problem does it solve?
I wanted to design a work flow that helped me keep track of my annual and running accrual of medical exspenses paid for that would normally qualify as a true HSA transaction. My purpose is to keep excellent records automatically so that I can keep a running balance on how I can keep investing my HSA money while knowing how much I legally have access to withdraw when needed for early retirement. It could also be to build up an additional emergency fund reserve while allowing your invested HSA dollars to keep working for you. This allows you to keep a running record of your allowed reimbursement funds for future use. My inspiration for this flow comes from the financial philosophies of The Money Guy team.
How did you come up with the idea for your workflow?
Studying how to use query in my current field of work and I realized I could use this function for my need.
Once your medical HSA qualified medical expense is pulled into transaction fee, you just need to assign it to your desired category name. I chose to call this data: HSA Tracking for my category.
Is it ok for others to copy, use, and modify your workflow?
This is going to be an ongoing project for me, so if anyone has any good tips or recommendations in developing this please let me know!
This is awesome; well done! I am planning to start using an HSA; this is perfect. One of the other issues I am aware of is the receipt management. Potentially adding a column allowing users to link receipts stored in a Google Drive folder would be beneficial.
Also, now that I look it over again, including the total HS balance and how much was invested for the reach year could be helpful. Adding an indicator for when a balance is near the annual limit might be a useful visual tool.
Thanks for the feedback! I am a novice at customizing spreadsheets, but I will look into adding those ideas. I need to learn how to make some indicators and such.
This is very interesting. I have been an HSA user for 20 years. I don’t have a good method of tracking. I am nearing retirement so I am interested in tracking reimbursements, too.
As you’ve probably seen in the community, questions about managing HSA accounts are not uncommon. I think your approach of using a custom category (“HSA Tracking”) and then rolling up related expenses with a query may help inform other community member’s approaches.
I do like @EdwardDarrah’s suggestion to add a column (or just use the existing
Note column) to your Transactions sheet that can hold a link to a receipt on your Google drive. That extra column could easily be pulled into your summary through the same
You could also store the funding amount for the year and add a summary view of how much remains.
Thanks for sharing your workflow, @forsakingall. Keep up the good work.
I’d love to see this for Excel!
Thank you for sharing some screenshots and description of your work. How do you compute the “Receipt Saved” column? What happens to that column when the order of the
Query(Transactions.. result changes? Could you link to a simple example spreadsheet for people to poke into the details? Thank you.