Transactions not reflecting properly on budget.

Darrell W.

I just got Quicken Deluxe yesterday and I have been trying to upload my information and create a budget. I ran into a problem with my budget. Me and my girlfriend split some of our bills such as internet, electricity, ect. My girlfriend sends me the money and I pay for the bills from my account. Our internet is $70, so I pay $35 a month, but when I upload the $70 transaction to my account, the budget tells me I'm $35 over my budget. How can I get around this?

Scooterlam

You might be missing step 3?

1. Budget for the net amount $35 (total bill minus GFs portion)
2. Pay the bill from your account, assign a category (ex. Home:Internet) $70
3. When GF sends you payment for her portion,  record a deposit of $35 into the same category (Home:Internet).
4. By doing this, your budgeted figure of $35 will align with your net spending (actual) $35.

The payment and the deposit do not necessarily have to be in the same Quicken account so as long as they are both categorized the same and that both accounts are included in the budget.

If she happens to pay you in cash, create a cash account in Quicken and record it the same way as in #3.  Of course, be sure to include this new cash account in your budget.

In my case for example.   I have a family mobile phone bill.   I budget for the net amount.  Pay for the entire bill using a CC account.   My parents send me a EFT into my checking account.  I categorize both transactions the same.  My budget will now show the net expense - what you budgeted for.