Debt Account/Envelope

1

I created a debt account for my car payment when I first got Goodbudget last year. I paid off the debt in December but I paid it from a money market account that is not linked to Goodbudget. I’d like to delete the account and envelope but the account still has a balance and it won’t let me delete. I don’t want to create a transaction fearing it will mess up the available funds. How can I resolve this?

Candace

3

Hi Candace,

This is Chloe from Goodbudget Support!

If you have a Debt Account set up in your Accounts tab, then Goodbudget identifies this as an “Off Budget” account. This means that your Debt Account is not calculated into the Total amount. If you edit the Debt Account to 0, then you will see no changes in the Total or Available.

If you have a debt car payment Envelope already filled with Available money, you will need to redistribute that money into different Envelopes if you want to avoid the money going back to Available. Once the debt car payment Envelope reflects 0, you can move forward in deleting the Debt Account.

How to Delete Debt Account

  • Confirm that car payment Envelope and Debt Account show 0
  • Select Add/Edit on Accounts tab and click the delete button for Debt Account (the circle with an x icon)
  • There should be a prompt for you to select your Debt Account and then optionally you can select the car payment Envelope and click “delete”
  • Remember to click “Save Changes”

Hope that helps!
Chloe