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New Budget Feature Just Released!

One of the most exciting features we’ve released this month is our “Budget Admin”! What’s great about Budget Admin?  Let’s take a step back. At Moneysoft, I’m paid monthly, but my Home Loan is paid fortnightly.  If that is you, then you will know just how painful it is twice a year where I have to find 3 payments! If you’re paid on a different timeframe (Weekly, Fortnight or Quarterly) then we’ve got you covered too. The other benefit of Budget Admin is that you get to select the accounts you use to generate your budget.  For example, I have my Superannuation account and a Personal Loan.  These transactions are separate and I don’t want to see them in Moneysoft. How does it work?
  1. Firstly, make sure all of your transactions are categorised.  If not, your budget just won’t make sense
  2. Navigate to the Budget Admin screen (from the top menu, click Budget, then click Budget Admin)
  3. Scroll to the bottom of the page.  Select just those accounts you would like your budget created
  4. Click the “Calculate from xx Accounts” button.  This will generate your budget for you over the next 12 months
  5. Now you are ready to get stuck into it!  Click the Income tab, adjust your income amount and period (weekly, monthly etc) if necessary.  There’s no save button.  Changes are saved instantly!
  6. Next is to work your way through the list.  Go through Entertainment, Fees, Bills etc.
Remember to add all the recurring bills such as rates, gas, internet, electric etc. Last step is to see how you’ve gone.  Navigate to the Reports page to run either the Budget vs Actual or the Income & Expenses report Quick Questions:
  • What if I’ve made a mistake?
No worries!  Just make the adjustment and you’re good to go.
  • Yes, but what if I’ve really botched it up?
Again no worries!  It took me about 6 – 7 attempts to get my budget right and I’m still tweaking as we go.  Go back to step 3 and start again.
  • No, seriously, something isn’t right!
Hey, we hear you!  On Moneysoftt, each page has the “Feedback & Support” tag.  Click the link and enter your question.  One of our team will get back to you

Posted 10 years ago 2 Minute(s) to read