Any budget gurus?

Bob.

Been playing with budgets and all my issues seem to be incredibly similar:

Examples:

1. I take a yearly RMD for income - for ease let's say $12,000 a year. It happens once a year but I want to see $1,000 per month in Personal Income. I cannot make that happen.
2. In a similar way, I have a yearly expense of say $120. I want my Budget to show $10 each month for this expense even though this is paid once a year. Cannot find a way.

Must be something I am missing. Got the fix? If so, I can make everything else work.

Did try the yearly averages, etc. Missing something.

Thanks.

UKR

Have you tried setting up a monthly budget for Income Category X of $1000 and then turned on "Rollover" for the category?

In this example, I'm budgeting 1/12 of annual insurance expense every month but there are only 2 payments per year. The Rollover icon carries the difference between budget and actual forward every month. At the end of the year, the balance should be near 0.00

Bob.

Thanks. I did try rollover but it was a bit confusing and not doing as expected. Will try again.

@UKR ? Does calculate averga ecome into play at all? And Should I enter 1/12th per month in the montly budget amount?

These all must interact in some way, yes?

Thanks!

UKR

I always try to keep it simple. Yes, there are some fancy calculation routines, but it's faster for me if I just use the built-in mini calculator.

So, for your $120 annual one-time expense in Category X, you do this:

• select the Category
• in January Budget type 120/12 Enter (results in 10.00)
• click the category X name field to see the 3 icons available with each category
• click the gear icon
• select "Apply Jan budget forward to the end ..."
• Now all Category X budget fields in every month have the 10.00 budgeted amount
• Lastly, in the category name field click the gray or green double arrow icon to turn "Rollover on" so that a green arrow icon appears in the category name field
• Now each month's balance shows the running total of prior rollover + budget - actual. (If the Balance in January does not appear to add up correctly it may be because you have a rollover amount from last December. Click the Balance amount to see the calculation and, if needed, reset the rollover amount)
  

Bob.

That's great. Thanks. Not all particulalry intuiive. Especially when starting in the middle of a year.

I'll assume it works the same with income and go off and finish setting this up and see what it looks like.