Accurate monthly representation of a prorated budget?
I've read lots of topics about this one, but can't seem to find an answer.
I have several budgeted categories (Car Insurance, Umbrella Insurance, etc.) for which I prorate the totals. For example, I've set Car Insurance to be $527.50 semi-annually (not prorated). I've got all of these categories going from 1/1/2011 to 12/31/2011 and am looking at a Monthly view.
Before I make a payment to, say, Car Insurance, the budget bar shows $0 in red, When I make a payment of $527.50 in June, the budget bar still shows red (see attached screenshot). Obviously, it's not fun to look at a bunch of red bars and think that you're over budget.
I'm guessing that despite the "not prorated" label, Moneydance thinks I went way over budget by paying such a large chunk in one day (and not in monthly intervals)...but I wanted to check with the experts first. :) Any thoughts? Any simple checkboxes that I forgot to click? Is my methodology way off?
-
Capture3.PNG
3.8 KB
Capture3.PNG
2 Posted by -Kevin N. on 19 Sep, 2011 10:06 PM
Hi bachya1208,
Although it may not answer your topic specifically, look to this website by forum member Brian Jarrett. He offers up an informative look at how he set up a budget in Moneydance.
http://brianjarrett.com/2010/12/19/budgeting-with-moneydance/
HTH -Kevin N.
3 Posted by jbnyt on 19 Sep, 2011 10:53 PM
bachya1208,
See if this makes a difference.
The way I handle these expenses is as follows:
Amt: $527.50
Category: Insurance:Auto
Interval: Semi-Annual (not prorated)
Start Date: 6/01/11
End Date: Leave blank
My budget bar comes up yellow (not sure why it wouldn't be green though).
4 Posted by bachya1208 on 20 Sep, 2011 03:34 AM
kmnugent,
I saw that - great blog and has a lot of informative info. Unfortunately, I didn't see anything there that addressed my question. Thank you, though. :)
jpnyt,
The only difference I could see between yours and mine is that you have an empty End Date. I made my End Date empty and still see a red bar. Additionally, I did something similar for my Renter's Insurance, and although it currently sits at $0 (with a budgeted value of $125 not prorated), that bar is red, too.
5 Posted by bachya1208 on 26 Sep, 2011 01:49 AM
Folks (particularly MoneyDance folks) - any insight? This is a real pain point for me. I would appreciate your thoughts.
6 Posted by bachya1208 on 30 Dec, 2011 09:48 PM
Circling back on this one - I recreated my budget and everything appeared normal.
On that note, however, I'm very disappointed in the lack of official Moneydance support to this question. I understand that you're most likely understaffed and overworked, but as a paying customer, it's not a pleasant experience when I don't even receive a "Hey, we hear you" in response.
7 Posted by Alison on 07 Jan, 2012 11:24 PM
Setting budgets involving large one off payments such as car insurance etc. is something that I've not managed to get right at all thus far. I've always presumed I was being a bit daft but it seems not.