Hello, two questions...

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Hello, two questions... 1) is there a way to go back to last months envelopes and see how much you have left over in them? 2) is there a way to change the setting to not rollover the remaining amount into the next month? Thanks
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Emily Novak

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Posted 2 months ago

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Wayne Woodbury

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Emily,

Yes on both counts, but it may help to better understand how the envelopes work.  Some budgeting apps expect you to start fresh every month and so the default behavior of an envelope is to reset every month.  For those apps, you have to deliberately designate an envelope as a savings envelope for the balance to carry over.  With Goodbudget, your envelope balances persist beyond the end of a budgeting period.  If you are on a monthly budgeting period that starts on the first of the month, your balance in your envelopes on February 1 will be the same as it was on January 31.  The balances won't change until you either spend money or put money back in them, just like any real account.  They don't automatically reset at the beginning of a new budgeting period.

The way to see the balance of any given envelope is to open the register for that envelope.  This will have a running balance of the funds you have placed in that envelope next to each transaction.  The same holds true for viewing accounts.  Looking at the main screen on the web app will show all of your transactions for all envelopes and accounts.  Because all are combined, it would be meaningless to show a balance under each transaction, but this is all visible once you open a specific envelope or account.  Also, the main screen shows your current balance every envelope (assuming you have recorded all of your transactions).  

For your second question, the answer is a bit more complex to write, but really quite simple to enact.  Your balances will ALL roll over.  The important part is the way you fill them.  Some envelopes, like savings envelopes, you want the balance to roll over.  Other envelopes, like groceries, you may want to start fresh every month (or other budget period).  This is handled by the "Add/Set" option on the fill screen.  If, for example, if you budget 100.00 for groceries every month and you still have 25.00 left at the end of the month, you only need 75.00 to start the next month.  On your fill, select the "Set" option and it will simply add the necessary amount to bring it up to the monthly budget amount.

On the other hand, if you overspend by 25.00 on groceries, using the "Set" option will add 125.00 to bring it up to the full mark.  Goodbudget will automatically do the calculation for you.

The second example would be for a savings envelope.  Let's say you have an envelope you are using to save money for a new car and you have budgeted 200.00 a month for this envelope.  You obviously don't want to reset this to 200.00 every month or you will never make progress towards your next car purchase.  For this envelope you should use the "Add" option.  This will add 200.00 to the existing balance of that envelope so that, over time, you will see that balance grow.

I hope this all makes sense.  There are ways to automate this stuff so you don't have to think about it every time you sit down to do your budget, so if you have questions, don't hesitate to post them.

Good luck,

Wayne