setting up 3 different budgets
Can I set up 3 different budgets using Moneydance that will link to my credit card and bank checking accounts?
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1 Posted by Charles Baldwin on 02 Dec, 2020 09:50 PM
Waiting for a reply
2 Posted by mhoggie on 02 Dec, 2020 11:37 PM
just a user,
Yes, you can set up as many budgets as you want. But be aware, MD does not track transfers between accounts in the budgeting tool. So if you have a loan set up in MD, you cannot easily budget the payments because MD sees it as a simple transfer between accounts. There are ways of working around that problem if that is an issue.
3 Posted by Charles Baldwin on 02 Dec, 2020 11:45 PM
Thanks for your reply. I am mostly concerned with the allocation of credit card transactions to different budgets. I have a home improvement project that I want to budget along with a separate budget for household. How do credit card charges get applied to the two budgets?
4 Posted by mhoggie on 03 Dec, 2020 12:46 AM
just a user,
You can only budget by categories, ( it would be nice if you could use tags, but you can't for budgeting purposes) so the best for you would be to set up a different set of categories for each budget so you can capture the activity for each budget. You can easily add as many categories as your need. No limitation
Melissa closed this discussion on 17 Dec, 2020 06:56 PM.