Credit to a past month budget item

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Need help in figuring the best way to enter a transaction. 
I work off a monthly budget. In September I budgeted $98.00 for bathroom faucets which i purchased from Amazon. In October I budgeted $110.0 for installation. 
The faucets turned out to be the wrong size when the installer came over and I initiated a return/credit from Amazon and went up to Lowe's and purchased ones that cost $138.56 ($40.56 more than last month's budget). 
In addition, the installation took a little longer and I ended up paying him $160.00 ($50.00 more than the October balance.) 
Also, these purchases came out of my normal checking account, but the additional amounts came from a savings account since I had not budgeted for them. 
How would you GB users go about entering all this? 
I know this sounds like a math problem from 5th grade and I apologize. ;)
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HFLTV

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Posted 3 weeks ago

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Karisa Russell, Official Rep

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Hi HFLTV,

Thanks for posting! Did you pay for the faucet in two separate transactions (one from Checking and one from Savings), or in a single transaction from Checking which you then reimbursed from Savings?

If the former, then you can record that expense in two separate transactions -- one from your Checking and one from your Savings. But, if you're not tracking the Savings Account in Goodbudget, then you'll only record one transaction -- the portion that you paid from your Checking Account -- since Goodbudget doesn't know about Savings.

If the latter, assign that faucet expense to your Home Maintenance Envelope and to your Checking Account. Then, you'll create an Account Transfer in Goodbudget from your Savings Account to your Checking to reimburse that Account. (If you're not tracking your Savings Account in GB, then that reimbursement will be recorded as an Income to your Checking Account).

I hope this made sense! Let us know if you have more questions.

Thanks again

P.S. If it makes you feel better, I had to think about this for several minutes ;)


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HFLTV

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It was 2 separate transactions - checking last month, savings this month. I'm more concerned with how to figure out the envelope situation since I didnt technically budget for it this month (as well as the unplanned extra installation expense this month).  Here what I'm thinking. I should fill my household repair envelope with the additional amounts spent on the new faucet/install and then enter the transaction to that envelope with the savings as the source account. I am getting stuck on how to allocate the Amazon credit of 98.00 when it comes in since it was a september budget item. 
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Karisa Russell, Official Rep

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Hi HFLTV, 

Yes, that does make sense to fill your Envelope with the additional amount spent, and then expense it out of your Savings since it sounds like that's where you paid from. 

For the Amazon credit, try adding that back to the Home Repair Envelope since that's where it originally came out of, even though the item was purchased in September. For reconciling purposes, you want to make sure that your transactions in Goodbudget match the dates that the real transactions took place. 

Hope that helps!