Expensing accrual $ monthly
I am accruing monthly for non-monthly expenses like auto ins., life ins, subscriptions etc. I see the balance available for them going up appropriately o my budget, but they don't show up as a monthly expense on my income vs expense report this way. How do I expense these amounts monthly when I haven't actually spent the money yet?
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They are not technically expenses until the money leaves your budget. You are budgeting for those expenses each month. When you pay your semi-annual auto insurance in June, you'll then see the expense for auto insurance. Does that make sense?
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To be clear, while it seems like the budget is accrual, it's actually an allocation system. You are just dividing up un-allocated income and assigning it to categories. The monthly separation is somewhat a matter of convenience.
Transactions and transaction reporting are all cash-based.
Now, for the income and expenses report, they will show a monthly average for a given selected time period once an expense has actually been incurred. -
I would be a big fan of a new report that was something like the income v expense report, but instead it shows a live view month to month of the balances in "available" in each category of my budget. This would allow you to see the amount you've been able to put month to month into a savings category, which normally doesn't show in the income v expense report because nothing has been "purchased".
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Aric That's great feedback! Would you mind submitting your idea via the Feature Request Form? From there it's collected in a database, and just about every day, our Design Team combs through and codes them all, asking questions like Where is this person in their budgeting journey? What problem are they wanting to solve? Then, in regular research cycles they analyze all this collected feedback to plan for what’s up next in YNAB!
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