Budget + Transfers

ahurley's Avatar

ahurley

20 May, 2009 01:24 PM

Hi all,

I'm trying to setup a budget, but I have ran into problem. Basically during the month, I have a standing order that trasfers money from my current account into some savings account. How can i set this up to some on a budget?

Many Thanks Anthony

  1. 1 Posted by Hans N. on 20 May, 2009 11:44 PM

    Hans N.'s Avatar

    In the window to edit your budget, you'll need to add two entries. One entry will use your current account as the Category and a negative amount entered. The second entry will use your savings account as the Category with a positive amount entered.

    The effect on the relationship between Income and Expenses within your budget remains unchanged, yet your budget will report an additional outflow of cash with a matching inflow of cash, representing the transfer of funds from your current account to your savings account.

  2. 2 Posted by ahurley on 21 May, 2009 09:19 AM

    ahurley's Avatar

    Hans,

    Many thanks for the reply, however I dont have the option to do that as i'm using a earlier version which was repackaged "Tesco Personal Finance". I was looking to upgrade anyway so looks like I will do this sooner rather than later as I can see from the demo I can set the budget the way I want and suggested by you.

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