Alzex software support Topic Question Uncategorized

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Use of budget and economic forecasting

Hi.

In reference to the comment I made on the question of the user "Modus operandi", how we can "capitalize" our budget?

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I have enable “Running balance” column but only see the planned future transaction, but no estimated budget spending for a category, for example the food budget in the month and to bank, card, cash account… is/will be charged.

If I have a budget of €300 a month for food, only appears reflected in the “Running balance” column when I make a present or planned future transaction food category, as "Modus Operandi" says: you still have to calculate in your head how much money you have available.

One solution could be that the software will automatically make an expense transaction uncleared the last day of the budget period, the amount would be for the remaining value of the budget. Having completed the budget period, the automatic transaction should be confirmed or delete or… I don't know...

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http://community.alzex.com/topic/show-a-balance-that-takes-budgeting-into-account

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Comments (6)

Alexandr ● 4 years ago

Hello,

You can create such transaction in scheduler manually. Simple set "Virtual (don't create entries)" checkbox and this scheduled transaction just disappear in due date.

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Amador Gutiérrez ● 4 years ago

Hi.

Thanks for your answers!

Create virtual transactions I think it does not help us plan our budget completely, continuing the example of budget of €300 in monthly food.

It is not automatic, if I create a virtual transaction €300 per month for the last day of each month in the scheduler works well!!, we have a forecast of an expense, but in the calendar where I can see the estimated daily balance is not real, I can buy the food category during the present month distorting the real amount, because I will have (in calendar) the total of the transactions that have actually spent plus virtual transaction.

If that virtual transaction will be automatically adjusted according to the selected category spending, the amount provided for the period would be real and not accumulated with the real transactions.

Another problem in managing the budget, is that I can plan €300 for food per month and use virtual transactions to estimate the money that I have but a virtual transaction is related to an account, for example bank account, but the food budget can buy with a bank account, or other bank account, or cash, etc

I think we need something to properly manage budgets and forecasts of balance. What do you think?

Thanks!

Regards.

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Alexandr ● 4 years ago

Create everyday virtual transaction for $10 instead of monthly for $300.

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Amador Gutiérrez ● 4 years ago

Hi.

Fill the calendar virtual transactions is not a solution for budget management. On day 3 of the month make a purchase of € 120 and the last day of the month will say that I have a spending 120+ (27 * 10) = 390 € only be adjusted as the days go by. Proper management of the family budget should be able to tell us how much money we have at all times based on the estimates of revenue and expenses, including budgets we do for a period, just as well we must allow fund provisions to cope our forecasts and warnings if the X day of the month X will not have enough money to pay the planned expenditures and can react with enought time.

Proper management of the family budget should be able to tell us how much money we have at all times based on the estimates of revenue and expenses, including budgets we do for a period, just as well we must allow fund provisions to cope our forecasts and warnings if the X day of the month X will not have enough money to pay the planned expenditures and can react with enought time.

I understand that the software does what it does, and in my opinion it's a very good software, but like everything, can be improved and I think it's good for everyone (creator and users) you can improve as much as possible, so I bring my user review for possible future improvements.

Thanks for your answers.

Regards.

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Alexandr ● 4 years ago

Hello,

I understand this. Budget will be greatly improved in future releases.

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Amador Gutiérrez ● 4 years ago

Great!!

Thanks!

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Use of budget and economic forecasting

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