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Adjust balance of a budget

Hi,


some month ago, I think it was in January or February, you announced to add the ability to adjust the balance of budgets so "envelope budgeting" is more flexible. I think you announced to add it with a version coming out in March or April, but now we already have August and I'm still missing this feature.  Do you have a new expected date of arrival for this feature? It would be really helpful. At the moment when I get some extra income and I want to add an one-time amount to budget I have to edit the carried balance of the budget as a workaround. but this is a little bit complicated and I report when and how much extra money I added to the budget.


Regards,

Waldemar


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Hello Waldemar,


While I do not remember us giving an exact release date for this feature, I do remember we were providing more details about it. At the moment, however, we are unable to estimate when this feature would be introduced. We'll keep this ticket open and monitor the number of votes to adjust its priority in our development queue.


At the moment, we cannot make any detailed announcements I'm afraid.

Hi Pawel,


I think it was in this article:

https://moneywiz.zendesk.com/hc/en-us/articles/202282591

But this article is not available anymore and I guess you have not migrated this article to fresh desk.


It makes me sad, that we will have to wait for this feature much longer and without having an ETA too. :( 

Right now the functionality of envelope budgeting is NOT complete and "complicated" (because in real life you get from time to time some extra money and it makes sense to have the ability to put some extra money in an "envelope").


Regards,

Waldemar


1 person likes this

Waldemar,


I believe our response including a timeline was aimed at one user asking about MoneyWiz 2 Beta release, although it was incorrectly addressed to the original tweet.


Apologies for the confusion and delay. I understand that lack of this feature might be inconvenient but at this time there is nothing we can promise. We will continue to monitor this topic and the number of votes it gets.


Indeed, the move from Zendesk to Freshdesk did not migrate everything so some articles or forum posts might have been lost and are no longer accessible.

I am trying to "allocate or add" money from my bank account to my Income Tax budget which is a basic feature. I owe on my taxes and just want to fund the Income Tax budget with the amount I owe so that when I pay it the Income Tax budget category won't show a big negative. I don't see a way to do this at all. Often you need to just put more $$'s in a budget category straight from an account (checking or savings for example) and not just from another budget category. This is a major showstopper for me. When is this going to be available? It's a basic feature of any envelope budgeting app.


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Glenn,


You can try to overcome this by editing the budget in question then adding the amount you need to boost your budget by from the "Carried balance" field. Note that there'll be no record of this income to the budget allowance - your budget allowance will simply increase.

Hi Pawel,


do you have an update on this feature request? It would be really great if you could put it at least on the roadmap for MoneyWiz 3. I have this situation so often (put extra money into an envelope) that I really need a way to adjust the balance of a budget or to put an income into a budget. 


Regards,

Waldemar


1 person likes this

Waldemar,


Apologies, I can't yet precisely say when this feature would be coming.

I agree that this would be a fantastic feature to have!

My concern with using Carried balance is that it may change and overwrite what I entered if I go to the previous month and enter a new transaction. For instance, on 12/31 my budget balance is +100 and it carries over on 1/1. On 1/2 I decide to add money to the budget from savings or investment to cover a large purchase I'm going to make, say 5,342.86. So, I change Carried balance to +5,442.86. On 1/3 I look at my statement and I see I missed a 25 dollar transaction that occurred on 12/27. When I enter the transaction with the December date, the ending balance of the budget for that month is now +75 and the Carried balance amount changes to +75 - completely removing the extra money I had put in on 1/2. MoneyWiz doesn't remember I added 5,342.86. That's why we need a way to add money to the budget without using Carried balance.
The only option I found since the latest update is using negative expenses... This will descrease the total expense of the connected budget the used category is connected to.
I am still figuring out though how to best have a comparison of how much I have saved and how much I "pulled back" to fulfill larger investments...
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