A budget allows you to set financial goals and track your progress in achieving these goals.
This will help you better manage your cash flow and maximize your savings.
Budget for categories
Open the Budget tab. In the table we see all expenses divided by the categories and months. Select the category which you want to track, and set the budget amount for the month.
Adjusting budget amount
The amount in some months may be lower or higher. Click on the amount to change it for this month.
The same way set the budget for all categories you want to track. Other categories can be hidden. This way you can track expenses by categories, family members and payees. If you need more flexibility, you can create a custom budget entry.
Creating a custom budget
Let's say we want to track spendings for all categories. Create a custom budget entry and name it "Total". The budget amount can be specified in any currency. You can also transfer remainder to the next period. And you can limit the budget to a specific time interval. And the most important part is the filters. Consider to exclude large one-time expenses, such as vacation, from the regular budget.
You can track incomes as well. For example, you can track all incomes to a certain account. Create a new budget entry and select "Incomes". Check the "Transfer remainder to the next period" checkbox and select the budget starting date. And finally, add the desired account to the filters.
As we can see, the shortage is transferred to the next month, increasing the budget amount. Conversely, the overpayment reduces the budget amount in the next period.
Double-click on a budget entry to see the entire history, the average amount and the transactions.