I have a monthly budget for my property tax but pay yearly. can't get budget to work.

It shows me over budget


  • Valderi
    Valderi Member ✭✭✭✭
    1. You can change in Q. the date of your payment
    2. Or you can use "Bills&Income" feature with a later date 
    3. (that's what I do) You can use "savings Goals". When you pay, you transfer money from your saving goal. Doing so, the money from saving goal will equals the money you spend.

    If you need more details, just ask me.
  • Marc Perry
    Marc Perry Member ✭✭
    I can't change date because it would not be accurate. I don't understand savings goal. Sorry need more help
  • Scooterlam
    Scooterlam SuperUser, Windows Beta Beta
    Quicken Help Keyword "savings goal" for more information.

    You could also try turning on "rollovers" for that category in your budget.  Image 1.  In Quicken Help, keyword "rollover" for more details on the feature. 

    Rollovers accumulate unspent budgeted funds to the next month.   So, if you budget monthly for property tax and pay yearly, your monthly budgeted amount will accumulate until you pay annual property taxes.

    Rollovers will span budget years.  So, the budgeted amounts you allocated in the prior year to pay property taxes this year still accumulate.  If you did not rollover your budgeted category from last year, you can make a category adjustment for January and bring the accumulated amounts budgeted (but not spent) forward.  Image 2.  Click on the link in the balance column to edit the rollover.

    You previously "over budget" condition will no longer show up in the graph view. 

    Have a look and play around with it.   Also, search the community for other ideas.

  • Valderi
    Valderi Member ✭✭✭✭
    Explanation for Savings goals.
    You have a bank account and each month you want to spare money for your taxes, for exemple: 200 $. 
    First you create a saving goal  "Taxes". Lets say you want to save 2400$ in one year. Each month, you make a transfer of 200$ from your Q. account to this saving goal. In reality of your bank, all the money still stay in you account, but in Quicken, you will notice you have 200$ less because this money is in your saving goal. When you want to pay, You first need to send back the money to your Q. account and then, you make your payment (in Q, account and in your bank account).

    In your budget report you will see an income of 2400$ from you saving goal and an expense of the same amount for your taxes.

    You can create all the savings goals you want for every project you have.
  • Valderi
    Valderi Member ✭✭✭✭
    You have many ways to deal with your money for your taxes:
    two of them: "Savings goals" and "Rollover"
  • Marc Perry
    Marc Perry Member ✭✭
    I GOT IT!!!!!!!!!!! Thanks to all.
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