I have had a credit union for some time and set up pocket shares as envelopes. I move money for my insurance into one as a holding account for the upcoming 6 month bill I get. I do this with a number of other bills, like a gas and grocery share. I am wondering if anyone else has done this and found a correct way to then mark the transactions in goodbudget.
My goal for Goodbudget is to, at a glance, see between my husband and I, where we are at for the budgeted amounts of our bills at any given time. I see that this happening for some but not all.
We have money that is transferred between accounts that are both external and internal (i.e. the pocket shares). Even a general idea of how it should work… I would appreciate any pointers. It is my first month and I do not want to invest too much into it if it is not going to be useful. I was trying to save myself time by using this app.
Goodbudget is designed to be a budgeting tool that provides a systematic way to keep track of where your real life funds are going to. When you record and categorize your transactions, you will be able to see from a glance where you are at with the budgeted amounts of your Envelope bills at any given time.
With Accounts, we recommend that they reflect your real life balances so that you can fill your Envelopes with money. If Accounts are not matching your real life balances then you can click on the Accounts Add/Edit tab and update the current balance and then click ‘Save Changes’. To fill your Envelopes, you can create a Fill from Available that will organize your money into your Envelopes from your Accounts. When your Envelopes are filled, you will add, categorize, and confirm your expenses into Envelopes.
If you would like to transfer money between Accounts you can do so by clicking on ‘+Add Transaction’ > click ‘Transfer’ tab > change type to ‘Account Transfer’ and fill the rest of the details > click ‘Save’.
Hope this helps and if you have additional specific questions about your Household, then please don’t hesitate to contact support@goodbudget.com.