Tracking Longer Term Care Life Time Benefit Balance

[mike.m.bridges]

I have a Longer Term Care Life Time Benefit account at MetLife that is not online. I would like to create a manual account and track how this life time benfit balance draws down as in home care aides are paid. It seems I would have to create a manual account but a far a I can tell, I would not be able to have this account balance automatically draw down as the numerous weekly reimbursements come into my linked checking account in the Tiller template sheet.

Is this the case? Is there a work around? My goal is to reduce manual transaction effort. I love the Google Sheets paradigm because I thought it would afford me ultimate flexibility. I envisioned once I got the transactions automatically downloaded into a Google Sheet i could build very customized forecasting reports to help manage this draw down. I am in the evaluation phase of Tiller and this might be a show stopper for me so am hoping there is a work around.

I don’t understand why entries in the transactions sheet can’t be linked to a manual account where the only manual entry would be the initial balance and all subsequent balance adjustments would come from direct deposits transactions categorized as long term care reimbursement transfers from this account. Looking forward to hearing ideas. Thanks!

[warren.e.bridges]

So it looks like I can create a category for the LTC reimbursements and designate it as an expense. This way when in the direct deposits appear my checking account I can categorize these transaction entries accordingly and they will end up offsetting the outflows for paying home health aides. I like this as the medical expense budget group reports correctly.

I still want to somehow have a way to subtract the accumulated LTC reimbursements transactions from an initial life time benefit amount and report the draw down. I’m thinking I don’t have to create a formal manual account to do this but should be able to code it up in a custom report.

I think it would be most appropriate in a custom net worth report dashboard or in some kind of forecasting report.

Anybody else have any ideas?

[heather]

@mike.m.bridges, I’d recommend checking out the Tiller Community Solutions manual transaction workflow as you can have it update the balance of a manual account when you add a manual transaction.

Docs: Adding & Reconciling Manual Transactions

Why Use Manual Transactions? Tiller feeds will keep your financial data current for linked accounts by pulling in transactions and balances into your Google Sheet. Sometimes, however, you may need to manually add a transaction before it has posted at your bank. For example, you might want to capture a check paid to a vendor, an invoice submitted to a client, or a bill that you paid electronically. Logging a transaction when you make it (rather than waiting for it to post at the bank), record…