Comparing Income with Expenses

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  • Updated 6 years ago
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I have not found a way to track 'how much I have been earning', and compare that to how much I have been spending - on a monthly basis.

Since my income is varying- it's hard for me to know how much I earn per month, so I would like to see which months I have been on a positive and during which ones on a negative balance!

Basically what I want - is a way for me to compare my income vs expenses on a monthly basis.

Please tell me that it's possible, because I love you service, it's truly helpful, just this inconvenience.

Thank you in advance
Robert
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boomerius

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  • Undecided

Posted 9 years ago

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cmchien, Official Rep

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Thanks for taking the time to post this. And I apologize for the delayed response.

I think one of the issue here is that there are a number of ways that people are using EEBA. Some are tracking Income. Some are just using the refill without regard to it being tied to actual income. With the Accounts feature turned on (Plus/Premium plans), we assume folks are tracking actual income, but for the Free and Basic versions, we can't necessarily assume this. This makes things somewhat complicated so that we can present what each person is expecting to see.

A few questions for people following this thread:
1. What version are you on?
2. Are you tracking your actual Incomes using EEBA or just using EEBA as a handy way to keep envelope balances?
3. Is it always a monthly comparison even if you are on a weekly, semi-monthly or bi-weekly budget? Or in those cases do you want a weekly, semi-monthly... comparison?

Thanks for the input.
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michal

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Hi, I would also very much appreciate a kind of a report comparing at least the total expenses vs. total income.
I am really happy with EEBA service and its connectivity among family members using Internet and Android. It is very useful
I am using the basic version.
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Chi-En Yu, Official Rep

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Hi Michal,

Thanks for adding your voice to this thread, and I'm glad you find EEBA useful! We'd love to get your input on the three questions that @cmchien posed above to help us gain insight into this request. How would you answer them?

Thank you!
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pete81662

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I also would like to produce reports on income, both sources and income versus expenses.
I am using $5 p/m version and track all my income and expenses with it.
Monthly reports would be fine with me.

Regards, Peter.
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Steven Tafzil, Employee

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Hi Pete,

Thanks for the detailed feedback, I've added that information to our featured request tracker.
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rommel.abitria

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I am using plus and i am following my income but i cannot with the current state of the app. But I really love your app, so i am willing to wait for this feature. :)
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Steven Tafzil, Employee

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Hi rommell.abitria,

Thanks for the feedback, and I'm glad you're loving EEBA! You can view different reports on the website (https://www.eebacanhelp.com) including various budget reports, just not a report that tracks specifically your income vs expenses. Hope that helps, and happy budgeting!
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Chrisitina Andersen

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I have the Premium Version on EEBA and would also like to view my income on a monthly basis. I would like EEBA to track all things money in my life! In a previous app I used (Easy Money) there was an option to view my "Expenses by Catagory" Report along with other reports I loved. But I did not like that it could not connect to the internet or other devices. So I switched over and love EEBA so far. But I would love to see some of those features in the future!
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Audrey Chau

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Hi Christina,

Thanks for the feedback and I'm glad you're giving out Premium plan a try! You can take a look at the Reports we offer on the web app here: https://www.eebacanhelp.com/reports/e...=

There are options to look at your expenses by category or your Envelope balances over a period of time. I hope you find what can be useful to you.

As for viewing your income on a monthly basis, I have added your voice to our requested features tracker. Thanks!
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Randall Huleva

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While there is currently no report to compare monthly income and expenses, there is a report to compare monthly budget and expenses. Therefore, if you budget your entire income, you can then compare budget (also income) to expenses. Also, much more simply, you can get an expense total from a monthly report and subtract that from the total of your monthly income to determine if your net income less expenses is positive or negative. If you're not sure what your monthly income total was, look at your bank statement, paycheck stubs or whatever other source documents you have to determine that amount.
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Audrey Chau

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Thanks Randall for the comments and the creative work around. It sounds like you have found a way to track income vs expenses for you personal use. And that's great to hear. I have added your input to our Requested Features tracker. Thanks!
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rommel.abitria

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No, I think, It is still necessary to have a report that will show the total income. It is different from the budget and it is different from the expenses. People who have no fixed income needs this to monitor the income. Thanks.
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Audrey Chau

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Hi rommel.abitria,

I can see how an irregular income can be harder to track. I have added your voice to our Requested Features tracker. Thanks!
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Cristian Paulino

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I'd love to see a feature like this as well. Have been wanting to write about this for a couple of months now. I'm using the free version.
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Steven Tafzil, Employee

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Hi Christian,

Thanks for the feedback, I'll add your voice to the requested features tracker. Thanks for taking the time to let us know!
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Ramona

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I'm new but I already see the positive side of these questions as i was already looking for something myself. The expense report by category option, and an income report by payee are WONDERFUL IDEAS and I have used it with an internet based program I used prior to EEBA.
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Steven Tafzil, Employee

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Hi Ramona,

Thanks for the feedback. If you have the time, could you let me know more about what you'd like to see so I can add it to our tracker?

Currently you can use the Expense Breakdown report (https://eebacanhelp.com/reports/expen...) to see your expenses, organized by your Envelope categories. Is that different from what you're looking for?

I've added your comments for an "Income" report to our tracker. Could you let us know more about what you would like to see specifically, and how you would use it?

Thanks again for all your feedback!
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Steve Cornett

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I use the $5/month version and absolutely love your app. I use EEBA to budget my expenses as well as track all my accounts including the cash in my pocket. However I would really love to be able to easily track my income. I have 3 jobs and my income varies each month from the multiple sources. On the Reports page I could really use a report to show total income/month or budget period, income v/s expense, and a breakdown report showing incomes from various sources - similar to the Expenses by Payee Report.
Thanks!
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Steven Tafzil, Employee

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Hi Steve,
Thanks for the feedback! You're right that there's more we can do to help users manage their income. If you have the time, could you let us know more about how you might use those reports? That will help us understand how best to improve EEBA in regard to managing incomes.

Again,thanks for the feedback you've already provided though, I've added your comments to our requested features tracker. Thanks!
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jairrab

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I really like to have this feature to. Coming from another android finance app, the ability to see my monthly cash flow (income - expenses) is the one that is dreadfully missing in this app.

Hope to get this report feature added soon.
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Steven Tafzil, Employee

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Hi jairrab,

Thanks for the feedback! I've added your comments to our featured request tracker.

If you're funding EEBA with your actual income, then you can use the "Envelope Balances" report (https://www.eebacanhelp.com/reports/e...) to give you a general picture of your cash flow month to month. As you add your income your Envelope balances will increase, and as you record expenses they will decrease. It doesn't give you a breakout of your income vs. expenses, but it does show you the overall balance month to month. Hope that helps!
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Judith Favia

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Where are we on this feature? I use YNAB for my personal budget and EEBA for my household/joint budget since we keep those separate. But the income element for EEBA is really not very helpful. I need to know what money is coming into the joint accounts over time and from whom as well as what we are spending it on.

Please tell me that you are going to be bringing out a more robust income feature soon!

Judith
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Becky Huang, Official Rep

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Hi Judith,

An income vs. expense report is on our to-do list! We'll notify you through this thread when we have more to announce.
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M&M

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Hi! We are using the $5 a month version, we are using it to track our actual budget. The only feature we are currently missing is a handy Actual income vs budgeted expenses. Adding this to the reports or to the scheduled items pages would be great! We budget monthly so we would be looking for monthly totals.
Thanks!
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Becky Huang, Official Rep

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Hi M&M,

We've added your voice to our tracker and will be sure to update you when this feature is implemented.
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Seán Conlan

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Just purchased EEBA, but I was not aware that it did not track income, which I would consider a very basic feature.
What is the status ?
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Becky Huang, Official Rep

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Hi Seán,

To clarify, with both the free and paid versions of EEBA, you can budget off of your income in EEBA by adding it on the Add Money page and keeping it Unallocated (https://www.eebacanhelp.com/transacti...). Then you can fill your Envelopes via the Distribute from Unallocated page (https://www.eebacanhelp.com/envelopes...).

We're working on an Income vs. Expense Report and it will be released in our next web update update so stay tuned!
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Chi-En Yu, Official Rep

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Official Response
Hi folks,

Just wanted to let you all know that in the new website for Goodbudget, you can now see an "Income v Spending" report that shows you how much you earned in each month (in green) compared against how much you spent (in orange). The black line shows your net income (positive or negative) for each month.

We hope that will lend insight into your budgeting and finances!

Chi-En
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ruthiyael

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Hi guys, it's good that you have the income vs expenses, now what is really needed is to categorise the income. I also have income from different sources which varies, and just like we know what we are spending money on we need to be able to track where it is coming from! It's been the really big drawback so far. Happy to see progress but don't stop there.
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Chi-En Yu, Official Rep

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@ruthiyael -- that's interesting. Would you explain more about what you'd ideally be seeing, plus how it would be useful to you?
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ruthiyael

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Thanks for the quick reply :)

I love EEBA/Goodbudget and have been using it as my budget program for a few years now. However the income tools I would really want are lacking.

I have a few sources of income. One - my salary - is fairly stable but the others fluctuate from month to month (and there are months one source has no income at all), which makes it really hard to budget.

When I categorise something as income, I'd like to be able to specify which source it is so I can see how much came in from each source, and get those wonderful reports you have for expenses, like how much came in from each source between two dates, what portion was from each source etc. I would be better able to make an estimation as to how much is coming in from that source over the year and plan accordingly.

At this point if I'm consistent in labeling I can bring up a list of income transactions but would love to be able to get reports on them as well.

From the comments I see that many people have this situation, if the income tools could be expanded that would be fantastic!
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keeper306

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Hello !
Why you hide percent view in Spending vs Budget report ? Work wint percent more comfortably for me. Plz come back percent option !