tag:infinitekind.tenderapp.com,2009-01-14:/discussions/budgeting/2636-budgeting-transfers-between-accountsInfinite Kind: Discussion 2021-11-15T09:40:23Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/493312452021-08-09T21:41:36Z2021-08-09T21:43:23ZBudgeting transfers between accounts<div><p>just a user,</p>
<p>MD will not pickup transfers between accounts, but you can budget those transfers by just adding a special category to capture that activity.</p>
<p>Here are the steps:<br>
1. Create an expense category with a unique name for the transfer or loan payment you want to budget.<br>
2. Create another expense category named "Null" to be used as an offset.<br>
3. Add your new transfer budget category to your budget.<br>
4. Now when you make that transfer transaction, split the category, and add two additional splits. This will be in addition to the normal account transfer category which just shows the account receiving the funds which will be listed first. In the first extra transaction split just repeat the amount of the transfer with the new unique transfer category then in the second extra transaction split use the "Null" category to offset the extra amount you added.</p>
<p>Now your transaction will show the transfer as you want and the budget will capture the activity from the special expense category you added. You can memorize that transaction with the splits and just set it up in a reminder so you don't have to repeat the process.</p>
<p>Here is an example where I want to budget a transfer to my insurance account.</p></div>mhoggietag:infinitekind.tenderapp.com,2009-01-14:Comment/493312452021-08-09T21:46:30Z2021-08-09T21:46:30ZBudgeting transfers between accounts<div><p>just a user,<br>
resent example, 1st one got truncated.</p></div>mhoggietag:infinitekind.tenderapp.com,2009-01-14:Comment/493312452021-08-11T07:40:19Z2021-08-11T07:40:19ZBudgeting transfers between accounts<div><p>Hi David,</p>
<p>We offer a 90 day money-back guarantee. You purchased Moneydance on 1st August so you still have plenty of time to test the program.</p>
<p>You have received some useful information from <em>mhoggie</em> that details how you can include transfers between your accounts in your budget. Let us know if this doesn't suit your needs, or if you have any trouble following the steps.</p>
<p>--<br>
Jenny, Infinite Kind Support</p></div>Jennytag:infinitekind.tenderapp.com,2009-01-14:Comment/493312452021-08-11T11:47:35Z2021-08-11T11:47:36ZBudgeting transfers between accounts<div><p>Hi mhoggie and Jenny</p>
<p>Thanks both for the swift and clear replies. Although I've used a few business and home accounts systems (and learnt their idiosyncrasies) I'm a Moneydance novice. I've now learnt it is far better to create and use Budget Reports to track progress against Budget rather than use the Budget itself where the maths don't seem to be as accurate, although I have learnt that using the "All" tab it is a useful screen to spot activity in unbudgeted categories.</p>
<p>If there is a wish list running somewhere it would be good to see the Budget screen have an extra tab for "Year" where we could easily view and set a 12 month budget with totals without scrolling sideways, it doesn't need Actuals. That is something I really miss moving from Home Accountz software which has sadly now been wound up.</p>
<p>It's looking good!</p></div>David Greentag:infinitekind.tenderapp.com,2009-01-14:Comment/493312452021-08-11T12:13:39Z2021-08-11T12:13:39ZBudgeting transfers between accounts<div><p>just a user,</p>
<p>If you set up your budget using the "Mixed Interval (Old Style)" period, then you will find a budget that you can set up by year without scrolling sideways. The default style you that is sounds like you are experiencing has many undesirable issues as you have found.</p></div>mhoggietag:infinitekind.tenderapp.com,2009-01-14:Comment/493312452021-08-16T09:34:11Z2021-08-16T09:34:12ZBudgeting transfers between accounts<div><p>Hi mhoggie</p>
<p>Many thanks for your prompt and very useful assistance.</p>
<p>I’ve tried using both budgets and for me they both have significant weaknesses.</p>
<p>The ones I have found best are those where:</p>
<p>You can see 12 monthly columns and a Totals column, with rows for each category.</p>
<p>You can choose to see either the budget or the variance.</p>
<p>The budget is never pro-rated.</p>
<p>Whilst Moneydance budgets are its biggest weakness for me the rest of the software is great. I’m currently using the default budget (as it is the only way I can find in Moneydance to clearly highlight activity in red on categories with no budget). I ignore all the progress information on the budget screen and solely use the Reports which can be set up to show very good Budget Reports.</p>
<p>Thanks again.</p>
<p>Dave</p></div>david