showing monthly savings in the budget

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maviszook
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showing monthly savings in the budget

Post by maviszook »

We'd like to put 5% of our income into a designated savings each month, which seems easy enough to do transferring money from the checking to the savings account and keeping track of it in the savings account via sub-account.

We'd like to show this in the budget. I'm wondering if I should also be showing this moving through income and expense accounts, or whether that would artificially inflate our income and expense numbers.

What is your opinion? Maybe I can somehow budget selected assets and show them?

Matt
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Post by Matt »

I would not show this transfer moving through the income and expense accounts for the reason you state. You can input a budgeted amount for an asset account using Maintain Chart of Accounts.

maviszook
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Post by maviszook »

Thank you very much for your reply.

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