Archive - Creating a budget using the 'Newer' format

This is an archived document. Please refer to the more recent knowledge base articles on this page

It is not currently possible to budget categories with different time intervals in this budget format. If you would like to budget mixed-interval categories, please use the "mixed intervals (old format)" budgeting format.

You can read about the different types of budget format available in this article.

Creating your budget

First, open the Budget manager by going to Tools -> Budget Manager. Next, click the New button and give your budget a name and select the time period you’d like to use for your budget: mixed intervals (old format), weekly, biweekly, monthly, or annually.

If you would like to track a budget with mixed intervals, select the Mixed Interval format.

Once you have created your budget, you have to close the budget manager window, then select your budget from the left sidebar column if the Moneydance window to access and edit it.

Setting a budget for a category

The center column is the active time period being budgeted for; you'll see two columns of numbers. The left number is the amount (either income or expenses) currently in the category, while the right number is the amount budgeted for the category. To set the amount, click the right number (it'll be 0 if you haven't budgeted anything for that category) and enter the amount that you want to budget for that category.

Setting your budget based on past activity

You can easily set your budget based on past spending by right-clicking on the heading (the three letter abbreviation for the month followed by the year) of any of the time period columns and selecting one of the following options:

Copy and rollover previous period: Sets this period’s budget as the sum of last period’s budget and the difference between the previous period’s spending and budget. For example, if last period’s grocery budget was $200 and you spent $150, this period’s grocery budget would be $250.

Copy previous period: Sets this period’s budget as the last period’s budget. For example, if last period’s grocery budget was $200 this period’s grocery budget would be $200, regardless of what your spending was in the previous period.

Use actual spending from previous period: Sets this period’s budget as the amount spent during the last budgeting period. For example, if last period’s grocery budget was $200 and you spent $150, this period’s grocery budget would be $150.

Budget View Filters

Budget view filters make it easy to see all of your categories, those with budgeted amounts, or those which you've spent. You can select a budget view filter by using the buttons at the top of the budget area.

All: Displays all categories in your data file. To add, edit, or delete categories go to Tools->Categories.

Budgeted: Displays only categories that you've set budgeted amounts for the current calendar year.

Active: Displays all categories which have been used this calendar year.