Is it possible to record an incoming loan? I bought an expensive item for a family member and need to keep track of payments coming back in.
Hi Loudish,
That’s an interesting question. I don’t think GoodBudget has a built-in feature for that, but may I suggest a work-around?
Create an envelope in your Goals section named for the loan, but with a zero balance and no scheduled fills or transactions. Record the payment for the large item in that envelope; after all, it wasn’t part of your monthly budgeted spending. That will give it a red balance that won’t change at the start of the next budget cycle. Then as you receive reimbursements, “Fill” them into that envelope until the balance is $0. Then you can delete the envelope if you choose (the payments will remain in GB).
Would that work for you?
Tiffany
Hi Tiffany,
Thank you! That’s the first time I’ve created and used a Goal envelope. I think that will work really well
Best, Loudish
I do the same thing with a regular envelope. All repayments are put into that envelope and paid back to zero. An excellent way to use an envelope with a zero fill amount to track other’s repayment, and shows where and how the money is being replaced in the future. No need for fancy workarounds. Cheers!