Future transactions

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When adding a transaction with a future date why is there the extra step of scheduling? I understand the need for this option for scheduling recurring expenses, but for one time it should be automatically set to pending.

Also, how can I change a transaction that I added with a future date, but forgot to select scheduling? When I go to edit that transaction the scheduling option isn't available. This is all on the android app.

Thanks
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Wayne Bird

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Posted 3 weeks ago

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Alex Park, Official Rep

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Hi Wayne,

The reason that future transactions aren't automatically scheduled is because there are some cases where you want the money to immediately draw from your budget (for example if you want to know at a glance that the money has "already been spent" even if it hasn't left your real-life accounts yet) and some cases, like the one you seem to be talking about, where it's a one-time expense but you don't want it to register until the date in question.

If you've already posted a transaction with a future date, you will not be able to edit it and convert it to scheduled. Instead you'll need to delete that transaction and recreate with the scheduled option checked off. This is the case whether you're on a mobile app or on the website version of Goodbudget.

Hope that helps and makes sense!
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Wayne Bird

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Thanks Alex. I understand. Personally I'm never going to take money out of an envelope until that money is actually out. Taking money out when it's not actually out seems to defeat the purpose of envelope management.

So I having a pending transaction with a date in the future. Of course the future date is only a guess.. That date arrives and Goodbudget automatically took it out of pending and removed money out of the envelope, therefore changing my actual bank account balance. How do I keep Goodbudget from changing the pending status? Or how do I change the status from cleared to pending?

Thanks for your help. I'm new to Goodbudget, purchased the annual subscription, but this will be a deal breaker for me if I can't keep Goodbudget's account balance the same as my actual bank account balance.
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Tiffany Kucifer

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Jumping in here, but your Reconciled balances should always match your true accounts (although you probably don't reconcile daily) and your envelopes indicate how much you CAN spend, so the future transactions, once you've entered them, are taken into account. For example, if I have $5,000 in my checking account but know that I've just made a credit card payment of $2,000 that won't hit my account for another three days, I don't really have $5,000 to spend but rather just $3,000.  
On the web, this can be reflected in Current Balance vs. Cleared Balance, but it doesn't appear in my app (iOS). You can also change the status of a transaction on the web from cleared to pending, but these transactions aren't automatically "cleared" so I'm not sure that's really what you need. 
I've gotten around this by creating my variable recurring transactions with a date a few days past when I actually expect them to post, and using the "Record Now" feature when they show up on my checking account or CC (I use alerts from my bank and CC's to facilitate this).
I've tried myriad budgeting apps and this one has been the best and easiest hands-down, but it does work best when the app and web versions are used in conjunction with one another. 
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Wayne Bird

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Thank you Tiffany for your reply. I understand your first paragraph. The sad thing is that the cleared balance doesn't show in the app. Also, as you state that you put the future date later than expected. The problem is you still don't know when it will actually clear until it clears. So that transaction changes from pending to not pending, but it's also not cleared. Unlike the website, there's no indication a transaction has cleared when viewing in the app.
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Jon Morgan

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Alex & Team - I've posted on this topic previously and seeing as it still causes confusion I still think the idea of a scheduled payment, due in the current period, should decrease the overall envelope totals. As Tiffany said - if you know it's going to happen then you haven't really got that money. At present GB doesn't really show you the true money available / un-allocated (unless you click into the envelope and look at the balance figures against the scheduled items).  The workaround has always been to post it in the future and not schedule, but as Tiffany also pointed out, that messes with the act of balancing up the accounts.   Appreciate you've got your hands full with debt-payment features, but would love to see this on the roadmap someday soon. All that said, please keep up the good work!!
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Alex Park, Official Rep

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Hi all,

Thanks for sharing your thoughts on the topic, it's helpful to know what desires or context you're coming at Goodbudget with to better understand why you're looking for certain things. We don't currently have plans to adjust the scheduled / future transactions functionality, but your thoughts are definitely being heard.

I just want to make an extra comment as a personal user of Goodbudget, and not in a capacity as a member of the team. I want to highlight where Tiffany says (paraphrasing) that if you've made a payment, even if your account balance isn't yet reflecting that payment, you should see the appropriate decrease in your account balances. In my personal household (again, this is my personal view and not an "official Goodbudget methodology"), I enter transactions the moment I make them, irrespective of whether the payment has been actually drawn from my account yet, so that my Envelopes and Accounts reflect the amount of money I will have, even if they aren't an accurate reflection of the balances I have in that specific moment in time. This is to stay always accountable to the money I've spent, even if it hasn't disappeared yet.

This process means scheduled transactions are solely for things like rent, which happens every month but I haven't quite paid yet, and not for things like credit card payments or online purchases, where even if the payment doesn't post to my bank/card immediately, the money should be considered gone. This does make Reconciling a slight bit more difficult as things aren't in absolutely precise chronological order, but I think it satisfies more of the conditions that you all have been outlining.

Again, I'm not sharing my personal process to say that it's the end-all-be-all and way you should be doing things, but I think if you can rearrange your thinking slightly to see the way I'm doing things, it may be a little easier and more convenient than constantly fiddling with scheduled transactions.

Hope that makes sense.