2024 Budget creation

monty's Avatar

monty

22 Dec, 2023 10:02 PM

Is there a way to get MD 2023.3 to take spending for 2023, divide by 12, and then create a 2024 monthly budget for each category? The best option would be to take spending January 2023 and set that as the January 2024 budget. All the Knowledgeable has (that I found) is a way to just copy the previous period spending, NOT the one from 12 months ago.

So either 1: 2023 divided by 12; or 2. each month of 2023 spending (by month) for each month in 2024.

  1. 1 Posted by monty on 29 Dec, 2023 12:03 AM

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    I'm guessing that there is no way to easily set up a budget based upon 2023 spending since there are no replies. Sadly this is a continual weak area for MD. Yes, it can be done by hand with a calculator, but sure would be nice if the program could do it.

  2. 2 Posted by jonh on 20 Jan, 2024 08:22 PM

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    I agree. I'm here looking for how to make a '24 budget and 3 weeks later no one has a suggestion. Sad.

  3. 3 Posted by monty on 20 Jan, 2024 08:33 PM

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    Yes, disappointing. I’ve asked for this over several years. No response. It’d be nice if the developers at least told of any type of work-around.

  4. 4 Posted by monty on 29 Feb, 2024 02:02 AM

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    I guess no one is working at MD for the tenderapp question bank. Lots of open questions with no answers.

  5. Support Staff 5 Posted by Maddy on 01 Mar, 2024 03:02 PM

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    Firstly, please accept my sincere apologies for the delay in responding to your query.

    There are two types of budget available within Moneydance, and you can read about them both in this section of the knowledge base.

    You should navigate to Tools —> Budget Manager, and select ‘New’. You can then enter the budget name and select the ‘period’.

    Selecting either Weekly, Biweekly, Monthly or Annually will create budget using this time period, and the 'Newer' budget format.

    Selecting Mixed Interval will create an older style budget, which can have categories with different time intervals.

    I would recommend using the 'Mixed Interval' format. Using the budget type, you can amend the start and end date for each budget item, and they're not set as the specific month/year etc.

    Please note that the budget feature picks up all expenses based upon the categories used.
    So you could not limit the budget to one account for instance, unless you built a separate set of categories to only be used by that account.

    Using the Foresight feature under the Tools tab on the other hand, will allow you to predict your future balances for just one account based upon your current balance and your reminders.
    For further information please refer to this article of the Knowledge Base.

    I hope this information is helpful. Please let us know if you have further questions or need more assistance.

    --
    Maddy, Infinite Kind Support

  6. 6 Posted by monty on 02 Apr, 2024 06:51 PM

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    Tried variations of this, but nothing seems to create a 2024 budget based upon 2023 expenses. If I select MONTHLY, it shows 0 for every single item.

    Same thing for Mixed (Old Style).

    They do show (for past months) the expenditures or income, but 0 for all budgets.

    Also missing from what I can see is some type of dropdown that I remember MD used to have that would say use the previous years expenses (or something like that).

    What I want is a month-to-month budget based upon last years actual expenditures or income.

    Is that at all possible? Or is it something that has to be manually created for every category for every single month (a huge, daunting task).

    Monty

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