Re: [GNC] New Budget Help
Okay, I’ve watched the video. I think he’s confusing what double-entry is here and its purpose. That isn’t really necessary when working with budgets. It is necessary (and forced) when entering actual transactions. Also, note that transfers do not decrease by his expenses. He’s put the *excess* income after expenses into the checking account asset. If he added another expense here, the transfer line would not change, but the total would now be negative and he’d have to reduce the amount budgeted to checking. I would start either with planned income or planned expenses, then you’ll see where the other needs to be and adjust accordingly. If you have some transaction history, GnuCash has an estimating feature when you create a budget to populate values based on averages of that previous data. Use assets for savings or investments and liabilities for loan payments. Yes, the end goal is have a zero total (zero-sum budgeting) but you don’t have to if you don’t want to. So to sum up: The total of all budget entries under Income appear in the summary as Income The total of all budget entries under Expenses appear in the summary as Expenses The NET of all budget entries under Assets AND Liabilities AND Equity appear in the summary as Transfers The sum of all of these are the “Total” in the summary. (which depending on your budget method/goals, may or may not need to be zero when you are done) Regards, Adrien > On Jan 22, 2019, at 9:31 PM, Lorrie Laskey wrote: > > https://www.youtube.com/watch?v=_PMz7SMt68E ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] New Budget Help
Lorrie, Sorry I don’t have time at the moment to watch the video to comment more specifically, but I *can* tell you that the ’Transfers’ line is to reflect amounts entered in asset and liability cells. So entering expenses should not affect it. I wouldn’t necessarily budget income to the checking account. (unless you need to budget *where* you put your money physically) Simply enter your projected income amounts in the income account(s) and expenses in their respective accounts. Using asset and liability accounts in the budget is more useful for budgeting *some* of income to perhaps a savings account, or to pay down a liability. (such as a car note or home mortgage) I also wouldn’t consider credit card payments in the budget unless you’re budgeting the paying down of a large pre-existing balance, because otherwise, your expense accounts is where you account for what was spent on the card. Regards, Adrien > On Jan 22, 2019, at 9:31 PM, Lorrie Laskey wrote: > > Hi all, > > I am trying to set up a budget following a YouTube video. See the link > below. > > I created a budget, added my salary category and put the same dollar amount > into my checking account category, as instructed, to zero out the budget > total at the bottom of the budget sheet. > > Next is where I am having problems, according to the video, once I enter a > few expenses, the "Transfers" category at the bottom of the budget sheet > should begin to decrease. > > However, mine is not changing, though the expenses category total is > increasing. > > Right about minute 6:46 is where this happens in this video. What is wrong? > > https://www.youtube.com/watch?v=_PMz7SMt68E > ___ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > - > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
[GNC] New Budget Help
Hi all, I am trying to set up a budget following a YouTube video. See the link below. I created a budget, added my salary category and put the same dollar amount into my checking account category, as instructed, to zero out the budget total at the bottom of the budget sheet. Next is where I am having problems, according to the video, once I enter a few expenses, the "Transfers" category at the bottom of the budget sheet should begin to decrease. However, mine is not changing, though the expenses category total is increasing. Right about minute 6:46 is where this happens in this video. What is wrong? https://www.youtube.com/watch?v=_PMz7SMt68E ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
