Linking the budget to a cash flow forecast

Kevin's Avatar

Kevin

21 Nov, 2016 03:02 PM

Hi,
New user and very pleased so far. One strength of managing one's personal finance is cash flow forecasting. I can't see a way of linking my budgeted items and their gradual spend during the month being reflected in the cash forecast within a specific account. E.g. I budget £400 a month for Groceries, but this isn't reflected in my starting cash flow figures either within money dance or Money Foresight or during the month as the budget is gradually spent.

  1. 1 Posted by kev.byrne on 15 Jan, 2017 11:47 AM

    kev.byrne's Avatar

    Hi Any progress on my question?

  2. 2 Posted by Kevin Stembridg... on 15 Jan, 2017 09:14 PM

    Kevin Stembridge's Avatar

    Hi Kevin,

    I'm the developer of Money Foresight. The extension uses Transaction Reminders (as opposed to budget items) to forecast cashflow. This is because a reminder is associated with an Account whereas a budget item is not. So it's not possible to forecast account balances using budget items.

    My suggestion (and the way I do 'budgeting' myself) is to convert all your budget items to Transaction Reminders and use the forecast feature of Money Foresight to see your future cashflow and the Reminder Review feature to see if you have underspent or overspent in the past.

    Happy to help if you have any more questions.

    Regards,

    Kevin

  3. 3 Posted by kev.byrne on 17 Jan, 2017 09:49 AM

    kev.byrne's Avatar

    Hi Kevin.

    Many thanks for that. I understand how those two relate now and can work around it. I was creating weekly transaction reminders for the budget lines and then using splits to record each transaction. That was OK but made reconciling the bank statement a bit clunky. Perhaps just one lump reminder with each individuall transcation recorded and then manually deducted from the one transaction reminder will overcome the problem will give me the forecasting I require.

    A supplementary question if I may. When opening Moneydance and then selecting an account the application will sometimes shut down and I have to re-open. If I wait a minute or so it doesn’t seem to happen Any idea why?

    Any way like the product very much.

    Thanks

    Kevin

  4. 4 Posted by Ian O on 17 Jan, 2017 11:37 AM

    Ian O's Avatar

    Hi Kevin,

    Sorry to hear of the strange behaviour you are experiencing when opening Moneydance. Does this happen every time you open Moneydance? Has this issue only recently started or has it been present since you started using Moneydance.

    Can you send me your errlog.txt file? This will hopefully shed some light onto what is happening on your system. As you're using Mac OS X, it should be located at one of these locations within your Home folder:

    ~/Library/Containers/com.infinitekind.MoneydanceOSX/Data/Library/Application Support/Moneydance/errlog.txt

    or:

    ~/Library/Application Support/Moneydance/errlog.txt

    If you have any trouble finding your Home Library folder, open Finder and select Go -> Go to Folder and and copy and paste in the following:

    ~/Library

    This should pull up your local Library folder.

    If you're using Windows, it should be located at:

    C:\Users\(yourusername)\.moneydance\errlog.txt

    Ian O
    Infinite Kind Support

  5. 5 Posted by kev.byrne on 19 Jan, 2017 10:21 AM

    kev.byrne's Avatar

    Hi Ian,

    Yes it’s always happened. But I’ve got used to it so wait 2 /3 minutes for the product to stabilise and then begin use.

    If i can get to happen again I will send log file.

    Thanks

    Kevin

  6. System closed this discussion on 20 Apr, 2017 10:30 AM.

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