In that case, you may want your budget to refer to the money being withdrawn from your checking account instead of deposited to your loan account. To do this, create a withdrawal budget item without checking add to bills. Then go into My Bills and create a Transfer Bill and choose the budget category you created. This will reflect in your budget as a withdrawal from your checking account each month but show up in your registry under My Transactions as a deposit into your Loan account. By creating this as a Bill, you can see each payment number as it gets recorded.
01/05/2007 19:52:01
Ashley
User
Re:Transfers and budget
Thanks, that was very helpful. Now I have my student loan bill and budget tied but when I record "income paid" under my income (which is where my student loan bill now appears since being made an income budget item) the balance of my account for my student loan does not go down. Any suggestions? Thanks again.
01/05/2007 13:17:18
support
Administrator
Re:Transfers and budget
Since your student loan bill is starting off as a negative amount, when you do a transfer, select the category that matches what is located in your budget. The budget type for that item should be set as Income/Deposit since your depositing money each month into that budget instead of withdrawing money. So if you have a Budget Item with a $100 deposit type, entering a deposit Transaction (to account in your Transfer) for $100 should balance your budget.
01/04/2007 20:44:45
Ashley
User
Transfers and budget
I can't figure out how to get my transfer transactions (from bank acct to student loan bill) to register on my budget as having used the money budgeted for the month. Any help? Thanks.
