Budget-How do I budget for Emergency Fund Savings?

[Richard Lindgren]

Phil

 

I came to using GnuCash from using Quicken where there is a specific option
to use a transfer function within their budget software. When I started
using GnuCash, that option was not very apparent. 

So what I did was include the Asset accounts in my budget to show where and
how much I wanted to put aside for my savings. When I bring up the Budget
Report, it does show the Assets, Expenses and Income. When I run the report
for the Budget Income Statement, it only shows the Income and Expenses. The
Assets are not shown, even though I have selected the Asset Accounts to be
shown.  So I have to start out with my "Zero Based" Budget with a profit.
That profit is then the money that I will transfer over to my savings.

Is there a better way?

 

I agree that in the Budget Report does show the  Assets and will reflect the
transfer. But I thought it strange that the Budget Income Statement did not
appear in the report. Maybe I'm doing something wrong?

 

Thank you in advance for all of your help.

 

God Bless and have a GREAT DAY!

 

Richard

 

From: Phil Longstaff [mailto:phil.longstaff at yahoo.ca] 
Sent: Saturday, March 09, 2013 12:40 PM
To: Richard Lindgren; gnucash-user at gnucash.org
Subject: Re: Budget-How do I budget for Emergency Fund Savings?

 

Gnucash does allow you to set a budget value for an asset or liability
account, and it represents a transfer i.e. the budget reports will show
growth or decrease vs that budgeted amount.

 

  _____  

From: Richard Lindgren <richard_lindgren at comcast.net>
To: gnucash-user at gnucash.org 
Cc: gnucash-user at gnucash.org 
Sent: Friday, March 8, 2013 1:41:19 PM
Subject: Budget-How do I budget for Emergency Fund Savings?


I am currently using the GnuCash Budget. I am able to schedule in both
income and expenses with no problem.

When it comes to budgeting a savings for an emergency fund? Should this be
considered an expense, a transfer (which the GnuCash Budget does not allow
for) or what?

How is budgeting for a savings account best handled?



Richard



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