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Budgeting question

abhi007cruise
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Budgeting question

Thu Jan 10, 2019 2:00 am
Hello all,

Can anyone advise the following: I have done budgets for FY 19 in excel spreadsheet and have manually uploaded them into the kmymoney windows version 4.8.2 (kde development platform 4.14.60). So basically whatever I have uploaded seems to flow through well and is looking good.

I had two questions:

1 We bought a car recently which will have an impact on cash flow as far as repayments are concerned, i wanted to budget for repayments but including them as expenses would be ridiculous as these repayments would be used to reduce the liability i.e. balance sheet account. How can I budget for them as liability account as that would still have an impact on cash flow.

2 I guess the whole point of doing budgets is to trace it and I guess reports are the only way to analyse them. This is where actual vs budgeted can be analysed. Is there any other way I can analyse them? Is there a way I can see % i.e. grocery budget for the month of Jan is $500 and actual spend is $200. Thus X % is remaining for the month of Jan.

Thanks in advance for the responses.
mcarpino
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Re: Budgeting question

Sat Jan 12, 2019 3:10 am
I'll try to help but I'm a little unsure on some of your actual desires based on your post.

First, I will talk a little about budgets. A budget as like to one in KMM is defined by transactions for a period of time that is from income and expenditures. So assets and liabilities are not part of a budget. What a budget is designed to do is to track how your income & expense categories are doing for that given time.

You mention and refer to a balance sheet. A balance sheet is made up of your assets and liabilities for a given time. The calculation of a balance sheet stated simply is your assets minus liabilities which will give you your equity or net worth.

A balance sheet and a budget are 2 distinctively different reports or reporting mechanisms.

If you can further clarify what you're trying to do I'll try to provide some guidance but liabilities are not part of a budget and a balance sheet has no impact on a budget.

Regarding your second part of your post. There isn't a way, at least I'm not aware of a way to show %. There are reports that shows the actual and budgeted amounts along with the difference for the category. You could ask for the development team to enhance the reporting to include the %. You would do this within the KDE KMM Bugtracking system.
abhi007cruise
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Re: Budgeting question

Sat Jan 12, 2019 5:32 am
mcarpino Mate, thanks for your response. Understand that % is not available, I will request to the bug forum as mentioned by you. In relation to the first query, i understand budgeting is appropriate for income and expenses. I am trying to figure out if cash flow reports can be printed out i.e. opening bank balance + total income - total expenses - loan repayments = closing bank balance.

Please let me know your thoughts.
mcarpino
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Re: Budgeting question

Sat Jan 12, 2019 1:25 pm
I feel you can find what you're looking for within the reports section of KMM. Goto Reports> 3.Transactions > Transaction by Account. From there you need to customize the report to fit your needs. I believe based on your description you're looking for the details of 1 specific account as your referring to Bank balance so your next step would be to customize your report. Select the "Configure" tab toward the top. Next select "Filters". As you're interested in 1 particular account you'll want to go to the "Account" tab then select "None" then select the particular account you're interested in looking at the transactions. Next, you'll want to go to the "Date" tab and select the date range you're interested in reviewing. Click apply and you'll receive the report containing the details for the account for your specified timeframe.

The report will be saved as a "customized" report and you can always rename it and also save it as a favorite report ( in the General tab of the Report Configuration) for easier future reference.

I've been using KMM for a few years now after converting from Quicken and I am still learning about how it works. Mostly I really appreciate the features and flexibility I have found in the program to make it fit my needs. As you explore its workings you will also discover the development team and community is here always willing to help.

Play around with the program especially it's reporting section and you'll discover a lot of information is available for review and analysis.

Cheers
User avatar ipwizard
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Re: Budgeting question

Sat Jan 12, 2019 1:58 pm
abhi007cruise wrote:I am trying to figure out if cash flow reports can be printed out i.e. opening bank balance + total income - total expenses - loan repayments = closing bank balance.

This has already been answered by mcarpino. In case you are looking for the crystal ball feature you may want to take a look into the forecasting section and the corresponding reports. Also, I can recommend the KMyMoney manual.


ipwizard, proud to be a member of the KMyMoney forum since its beginning. :-D
openSuSE Leap 15.0 64bit, KF5
abhi007cruise
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Re: Budgeting question

Mon Jan 14, 2019 2:28 am
Thanks mate

 
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