[GNC] New Budget Help

[Adrien Monteleone]

Lorrie,

Sorry I don’t have time at the moment to watch the video to comment more specifically, but I *can* tell you that the ’Transfers’ line is to reflect amounts entered in asset and liability cells.

So entering expenses should not affect it.

I wouldn’t necessarily budget income to the checking account. (unless you need to budget *where* you put your money physically)

Simply enter your projected income amounts in the income account(s) and expenses in their respective accounts.

Using asset and liability accounts in the budget is more useful for budgeting *some* of income to perhaps a savings account, or to pay down a liability. (such as a car note or home mortgage)

I also wouldn’t consider credit card payments in the budget unless you’re budgeting the paying down of a large pre-existing balance, because otherwise, your expense accounts is where you account for what was spent on the card.

Regards,
Adrien

> On Jan 22, 2019, at 9:31 PM, Lorrie Laskey <lrlaskey at gmail.com> wrote:
> 
> Hi all,
> 
> I am trying to set up a budget following a YouTube video. See the link
> below.
> 
> I created a budget, added my salary category and put the same dollar amount
> into my checking account category, as instructed, to zero out the budget
> total at the bottom of the budget sheet.
> 
> Next is where I am having problems, according to the video, once I enter a
> few expenses, the "Transfers" category at the bottom of the budget sheet
> should begin to decrease.
> 
> However, mine is not changing, though the expenses category total is
> increasing.
> 
> Right about minute 6:46 is where this happens in this video. What is wrong?
> 
> https://www.youtube.com/watch?v=_PMz7SMt68E
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