How to record gifts without impacting budget reports

Allison's Avatar

Allison

06 Dec, 2017 07:20 PM

My daughter received a cash gift from family for her college savings account. I also transfer $100 monthly from checking to that college savings account. However, when I look at the budget for this year, instead of showing $1,200 spent on her college savings, it shows we are over budget by the amount of the cash gift she received. Evidently the budget report is counting the gift received along with our transfers from checking. I've tried recording the gift as income, as not categorized, even as dividend income and the budget report still includes the money and shows we are over budget.

What am I doing wrong here? The account is set up as a bank account. I'm using version 2017.4 (1624) on a Mac.

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