Cashflow budget

Steve's Avatar

Steve

08 Oct, 2018 10:00 PM

I just wanted to add my voice to the crowd asking for a "cashflow budget"- that is, a budget which allows transactions to other accounts (such as mortgage repayments) to be properly taken into account.

I think the way this could work is that the budget would focus on some set of accounts. Payments to any category or any account outside the selected set could be budgeted against. This would be very similar to the current cashflow report, and would allow mortgage repayments or savings to be budgeted for.

For now, all my mortgage payments have a couple of extra split transactions added - mortgage payment and mortgage payment contra, for the full amount of the transaction, allowing me to budget against the mortgage payment itself (as described in this thread http://help.infinitekind.com/discussions/budgeting/1488-budgeting-transfers). But this is a really nasty way of getting round the problem, that undoes so much of the benefit of double entry accounting. Please please implement this. The lack of this feature has me looking at the competition...

  1. 1 Posted by mhoggie on 08 Oct, 2018 11:55 PM

    mhoggie's Avatar

    Just a user,

    Steve, I second that motion. I see Moneydance reviewed and recommended by Dave Ramsey and others as a good tool for tracking personal finance and budgeting, but I doubt if they realize you can't budget mortgage and loan payments with MD because the first two items in their own recommended budgeting advice includes mortgage payments and car loans. I guess they assumed that would be available in MD, which to be fair was until earlier this year using the "Old Style" budget. I don't think MD coders have thought through this whole issue. It would be simple to add that option to MD but for some reason the argument is that MD argues that a money transfer to a loan does not affect your Net Worth like a normal income and expense transaction. I see that as an empty argument because when you run the MD Net Worth report, loans will be deducted from your other assets unless you deselect them. You should have the same option in the budgeting feature. OK MD, your turn.

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