Entering Last month's transactions

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Entering transactions for last month are deducted from this month despite the date being last month... is there any way to enter a transaction from a previous month without it coming out of the current months envelopes?
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John Urbanowski

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  • frustrated

Posted 6 years ago

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Steven Tafzil, Employee

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Hi John,

I would record the transactions you want to put in, then re-create the fill you had for the beginning of the month. That will keep the new transactions in your history, but not count them against your current Envelope budgets.

Hope that helps.
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Jana Smith

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I am new to Goodbudget and am having this same problem. Can you walk me through how to do this? I had set up all of my envelopes initially and had them fill... then I added more envelopes that I had forgotten and I didn't know how to fill them. Then, after importing transaction and assigning them to the right envelopes... transactions from other months were counting against my April envelopes. Please help.
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Colin Grant

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My advice would be not to reset, I never have personally and if I do miss something (which is rare as I reconcile to bank every few days and always at month end) it matters not as the money is in the envelope. 
Backdated entries work well enough with the accounts in GB but the envelopes are not month specific, they are just a snapshot in time. An automatic reset of the balance at month end therefore seems a doubtful approach to me as you can as you say reset an envelope that is not zero/has not run its monthly course - that means you are writing off the balance of an outstanding expense.
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Telt1910

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John,
By resetting the envelopes, you take away your ability to see where you over/under budget.  If an envelope has quite a bit left over each month, you might want to lower the budget and funding for that envelope.
Personally, for envelopes such as groceries, if I end up with extra after a few cycles, it is my cue for a treat (i.e. steaks instead of chicken).  Others I cycle back to Unallocated so that I can put the money in envelopes where I overspent.
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Telt1910

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Also:  Wanting this 'feature' goes against the whole envelope principle.  If you were to use the envelope system the old-fashioned way (cash in actual envelopes), would you attach sticky notes to the cash to indicate when you put it in there, and when it is supposed to come out? Or would you start with a new stack of envelopes each month? Probably not.  You put the money in the same envelope (i.. Groceries) every time you get paid (in cash), and you take the money out to pay the bill or make the purchase. If you are using separate envelopes for each month, you might want to look up How to Do Envelope Budgeting: 5 Steps (with Pictures) - wikiHow.   
Part of the 'confusion' I see a lot is the mixing up of the budgeting, and the funding.  The budget is the planning part, the funding is the doing part.  The money going in and out of the envelopes, and their balances, are the doing part.  Budgeting is merely deciding/planning how much you are going to put in each envelope every period (week, bi-weekly, monthly, etc.) I can have a budget for a $1M for travel each month, but unless I start earning $1M+, the envelope will never be funded according to my budget.  
Where GoodBudget enhances the envelope system, is that you can time your funding based on when you get paid, instead of monthly, and it allows you to look ahead.
Hope this helps!
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Telt1910

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Also:  Wanting this 'feature' goes against the whole envelope principle.  If you were to use the envelope system the old-fashioned way (cash in actual envelopes), would you attach sticky notes to the cash to indicate when you put it in there, and when it is supposed to come out? Or would you start with a new stack of envelopes each month? Probably not.  You put the money in the same envelope (i.. Groceries) every time you get paid (in cash), and you take the money out to pay the bill or make the purchase. If you are using separate envelopes for each month, you might want to look up How to Do Envelope Budgeting: 5 Steps (with Pictures) - wikiHow.   
Part of the 'confusion' I see a lot is the mixing up of the budgeting, and the funding.  The budget is the planning part, the funding is the doing part.  The money going in and out of the envelopes, and their balances, are the doing part.  Budgeting is merely deciding/planning how much you are going to put in each envelope every period (week, bi-weekly, monthly, etc.) I can have a budget for a $1M for travel each month, but unless I start earning $1M+, the envelope will never be funded according to my budget.  
Where GoodBudget enhances the envelope system, is that you can time your funding based on when you get paid, instead of monthly, and it allows you to look ahead.
Hope this helps!
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Colin Grant

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I think comparing to the old ways is a little unfair as of course we now have technology that allows us to improve on things. I budget into next month (using this months income) but as the envelopes do not provide for this I just budget next months cash into a retaining envelope for distribution next month (I guess one could also just leave it in To Be Allocated). That way I am not spending next months money in error. Perhaps you have a different way of dealing with using this months cash for next months budget? Personally I do find GB lacking in that respect, although workarounds are possible. The envelopes are as you say just envelopes and as a result the progress bars do not to help when the cash therein spreads across months.
(Edited)