Envelope Budgeting (Q Mac)- (9 merged vote)
Comments
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Hello All,
The status of this Idea has been changed to Under Consideration as it has reached enough votes and has been submitted to our Product and Development team for further review.
Thank you!
Quicken Kristina
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After reading the idea and comments, I don't think the original comment is really envelope budgeting. In envelope budgeting when you budget money to an envelope, you stop spending from it when it is empty until you are able replenish the envelope from your future inflows.
On the next budget period, you modify your envelope budgets based on what you learned. I don't see how you learn to budget well and stick to it if you add an afterthought option to just move stuff around. If you must change a budgeted category, you can do that right now by decreasing one budget amount and increasing the category you want to move it to. You don't need a program change to do that.
Win 11 - Quicken Premier - v54.16
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Hello All,
The status of this Idea has been changed to Planned as it has been accepted by our Product and Development team for future implementation. Quicken's product development teams do not provide an estimate of when new/enhanced features will be completed and released.
Thank you!
Quicken Kristina
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I am most seriously disappointed. I was under the impression that Quicken Deluxe can handle envelope budgeting. I subscribed today, spent my whole afternoon connecting accounts, copying my budget details in, and classifying transactions, only to discover that envelope budgeting DOES NOT EXIST ON QUICKEN FOR MAC. I chatted with a customer service agent this afternoon who confirmed immediately that the function exists for PC but there's no plan to add this feature for Mac. I am torn between crying and screaming and I am going to have to cancel my subscription.
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My solution to handling what you’re calling envelope budgeting, which I call the accrual or cash method. First off, I set up all my categories as income. This allows me to show a true positive and negative in each category. Next I created a transaction called allocations, which is equivalent to my monthly budget. In this transaction I have my income categories as negative and then below it all of my expenses positives. This creates a zero transection. When my income deposits come in it then zeros out the income. Then I expense all my other transactions Then I run a category summary report to see where I stand. I have been using this method for over 30 years.
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@narnianstars This thread is the feature request for envelope budgeting, and it has recently been changed from a status of "Under Consideration" to "Planned". So the "customer service agent this afternoon who confirmed immediately that the function exists for PC but there's no plan to add this feature for Mac" is misinformed. (I'm sure the customer service reps aren't kept fully updated about things the development team is planning in the future.) In any case, this feature definitely doesn't exist today but is coming in the future; none of us knows when, but I would think not in the immediate short-term future.
Quicken Mac Subscription • Quicken user since 19930 -
For what it is worth Quicken Windows doesn't have envelop budgeting, and I can't even find the Idea thread for it.
Some people have used "Savings Goals" as a workaround (Quicken Mac doesn't have Savings Goals).
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This is my website: http://www.quicknperlwiz.com/1 -
OH GOD NO! Don't corrupt an accounting program with this abomination [Edited - Language].
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
@Chris_QPW While my post did not suggest using Savings Goals, I have removed it since it appears to have caused confusion.
Win 11 - Quicken Premier - v54.16
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@imdcareys This is a Quicken Mac thread and Quicken Mac doesn't have the Savings Goals feature.
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Please add a budget rollover function to Quicken for Mac!
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Add my vote to adding this feature as well. I can do the math, but many of my expenses vary from month to month. Medical costs in particular are hard to predict. I know this is on the list for improvements, but maybe consider moving it up on the the list.
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I'm glad to see this is now "planned." We've tried Quicken budgets and they don't work for us. There are unpredictable goals and also savings goals for which we're saving over time. We're currently evaluating the dominant envelope budgeting app (I know if I put the name some will remove it), but the rest of the features are so paltry compared to Quicken that I'm concerned it wouldn't meet other needs (and they charge more for the limited features). I hope this gets released soon.
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Please add rollover feature for budgeting. I will need to go back to old program if it is not released soon. So disappointed.
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This would be great to add to the Mac version. I'm trying to stop using a spreadsheet for this, but I need rollover budget categories like the Windows version has.
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I agree with the others post, this functionality is longoverdue.
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