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Transfer and Budgets

I would like that if is posible that transfers can be apply to the budgets or have the option to save money and mark it on the budget, example:


I want to save for a new cellphone, so, I created the budget  'new cellphone' for $100.00 dls monthly. I want to be able to transfer for my main saving account to a second saving account and mark that transfer for the budget 'New Cellphone'. 




5 people like this idea

They should solve this feature request by allowing you to categorize account transfers.  For example, if you enter a transaction that transfers $100 from your chequing to your savings account with no category, then it's simply a transfer with no impact on budget.  However, if you enter the category which is tracked by that specific budget, it should now be taken into account on the budget screen.

What we plan to do is "Goals"... similar concept to Budgets, only for incomes though. That solves exactly what you describe, Jose.

That "goals" concept seems great when are you planning to do that?

I came across with the same situation, having a "Budget" feature but for savings it`s a huge plus for the application. Do you have an estimate date for "Goals"?

Jagstyles describes it just the way it should work when implemented. 

The goals functionality will come later this year.

So, what happens if there is no specific goal, but we are just budgeting some money each month to squirrel away for a rainy day? I got on to request exactly this feature, allow transfers to be selected in budgets. This way, I can specifically plan out how much I am putting away each month in a budget, as a part of my monthly spending plan. As you describe goals, I know they won't be exactly what I am looking for, and I believe the OP would agree with me. I do not think the OP was asking to be able to set a goal and see how far he has to go to get there. He is asking to be able to treat transfers as an expense in the context of budgets, and that is exactly what I am asking for. Hopefully that makes sense. Is there any chance you would consider that feature?


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I agree with including transfers as part of budget. I have a number of transfers to keep track mortgages. There not goals. I find it frustrating they are not included.
Hi guys,
Of course we would consider it... but let me clarify about the transfers... can someone give example of how exactly you need that to work? You want to put transfers between 2 of your own accounts into a budget...how does that affect the budget? How do we specify stuff like "Budget, look for incoming or outgoing transfers in Account X and treat them as expense/income"?
Thanks.
I have two accounts - Mortgage and Everyday. Everyday is where the wages get paid into and the mortgage payment comes from. This mortgage payment I've set up as a transfer into my mortgage account. The Mortgage account shows the payment, the interest paid and accessible loan drawdown value. This accessible value reduces over the period of the loan. i need my everyday account budget to pick up any expenditure, including the transfer to the mortgage account. I see one draw back - I don't require transfers to be included in a budget that consisted of my everyday account and credit card. Because the accounting for the debit side of the transfer and the credit card expenditure are a duplication of costs.
Thanks! I logged it to my team for discussion...
Here is what I got from my team:
"We have this case completely covered.
Transfers towards loan accounts can be monitored by budgets - if the user selects only the from account and the categories of the principal and interest. If he only wants to monitor one of them (usually the interest) that's fine too. "
Yes you are right, most cases when transfers are used. In some cases it is not a option, using a budget will not work with my NZ bank account. As a work round I could have two seperate transactions: 1. income into the mortgage account and 2. expense into everyday account. I was doing this when before transfers were available. This raises the question the use of transfers if they can't be used in a budget.
I don't understand... why the budget won't work for a NZ account?
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