Hi,
I am trying to set up my goodbudget again after a break away and I have recently upgraded to premium.
I have been using the accounts setting as I like seeing the balances.
In my banking I have been using accounts as an envelope system (I don’t have quite enough but almost all of my envelopes have their own bank account). I also am wanting to use the credit card tracking. I have a historical balance that I am paying off as a lump sum fortnightly and in smaller payments throughout the month. I am also using my credit card a lot during the month and usually transfer the amount I am going to spend onto the credit card before I make the purchase.
The problem that I am having is that it means that many expense transactions require several entries, one to transfer accounts, often one to do the envelope transfer and then one to pay out of the envelope. Credit card payments usually require at least 3 transactions. This is leaving me completely confused as I find I am missing one transaction but it is hard to see where it is.
Thanks for your help
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The biggest problem sounds like you are trying to use two separate envelope systems which is only creating extra paperwork for yourself. Either stick with your many bank accounts as your envelopes and forget about GB, or use GB for your envelopes and consolidate your bank accounts to two or three.
By reducing down to just Savings and Checking accounts, you will drastically reduce or eliminate the number of account transfers you have to record in GB. You can also pull funds from multiple envelopes in a single transaction, i.e. in the case where you’re pulling leftover funds from various places to make an extra CC payment. Just choose the “Split to multiple” option in the envelope selection, then GB prompts you to enter each envelope and the amount to pull from it as separate line items in the same expense transaction. This can dramatically reduce the number of envelope transfers you need to enter.
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It just occurred to me that your CC account is tied to a particular envelope from which payments are drawn, so that you have to first transfer from other envelopes to that envelope before making the extra payment. In that case there’s not really any way to eliminate the envelope transfers, but you could do them all in a single “Fill from Unallocated” that adds negative amounts to various envelopes and a positive amount to the CC envelope.
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