I would like to use the budget feature, but as I understand that needs a good category setup. The manual states:
If a budget shall be combined of Income, Expense and Transfers, and span multiple accounts - because savings are on another account - how do I create my categories so that my budgets are clean and correct?Using the same category for an income and an expense will upset balance figures.
Could you give me some advice based on the following example of owning a car?
Good Idea or not? Thanks and regards,Accounts:
- I have two accounts, A and B
- A is used for Income and Expenses
- B is for savings and thus only has transfers
Transactions:
- My salary goes into A, a monthly transfer goes to B to save up for the car
- All car expenses (repairs, fuel, insurance, etc.) are booked from A
- When a large car payment is due I transfer savings from B to A
- Income generated by my car, for example insurence reimbursements after accidents, go into A
Category Setup (using Category:Subcategory)
- Automobile:Fuel (Expenses only)
- Automobile:Repairs (Expenses only)
- Automobile:Reimbursements (Income only)
- Automobile:Transfer (Transfers only between A and B)
Martin