Break down Annual/Bi-Annual Expenses to a monthly amount in Spending Plan [edited] (6 Merged Votes)

Coach Natalie

@exmintuser1, thanks for posting your suggestion!

It sounds like you're actually looking for this type of ability:

[removed link to merged thread]

Otherwise, you may be interested in this existing request:

https://community.simplifimoney.com/discussion/966/split-transactions-should-be-treated-as-separate-transactions-2-merged-votes

Please let us know how these existing requests work for you!

-Coach Natalie

BrandonG

Absolutely ridiculous that you cannot split transactions into separate months in a platform that charges a monthly subscription. If I pre-pay an expense for the next quarter, I want to recognize that expense across the three months in the quarter that I am receiving the benefit. Not all in the month I paid for it. This is the most basic feature and utterly shocked Quicken does not know how to budget.

ajbopp

Recognizing an expense in the month you pay for it, rather than pro-rating it out over the term of what you are paying for, IS basic budgeting.

Grossbeak

I agree. This should be a standard feature. I have some rather large expense items that I would like to amortize over >1 month period. For example, I pay for my kid's soccer program that runs from January - March (3 months) in January. Instead of having the entire expense in January, I would like to split the transaction evenly over the 3 months.

zphillips

I'd like to add my voice to this issue. I've used the Savings Goal workaround, but it's just that, a work around. I'd much rather have this implemented properly as part of the bills and/or subscriptions system. I'm one of the many Mint refugees, and it's a bit disappointing not to have what seems like an obvious feature missing, and even more disappointing that users have been asking for it for years now without any result other than suggestions to use other features in ways they weren't really designed for to meet the need. Please consider bumping the priority on this issue to the devs.

rooted9

Is there any movement on this issue yet? Definitely a make or break for me to jump from Mint - either 1 of two options would work:

Being able to split a transaction across multiple months

OR

As mint does today, budge 1/6 for example of a semi annual auto insurance bill and have it incur the full amount on the 6th month. It can't be that hard to copy basic functionality over from Mint.

[removed] already allows this functionality, but unfortunately it can bare connect to financial institutions…Simplifi can connect to these institutions, but is missing this core functionality.

misterbudben

adding one more vote for being able to split a transaction over several months, this seems like a basic budgeting function. I’m also a former mint user this is an important feature for me going forward.

Badong

Yes, Simplifi should set aside money for less-than-monthly expenses and give the option to roll over unused planned spending. Two simple features that would make using Simplifi SO much better!

I just found some other threads on this topic which began in 2020! Doesn't look like Quicken is listening to their customers. 😓

ajbopp

Not trying to troll here, asking an honest question.

How do Savings Goals not satisfy this issue?

UrsulaA

https://community.simplifimoney.com/discussion/comment/28057#Comment_28057

Savings goals require the user to enter a monthly contribution target and contribute to the goal. This request is to automate the process, so for more automated savings goals.

dany0san

Do bills not satisfy the need for this? If you have a property tax bill due twice a year, set it as a bill as such? Or do you want to see it like how I used to do in mint, where it is an expense shown every 6months, but you also get to see the monthly allocated savings when you go to your budget. I am new from mint, so still trying to figure out what works.

dben

My workaround is to create a fake monthly bill that never gets populated or finalized, exclude the yearly amounts from the spending plan but not reports, then to mark both the fake bill and the actual yearly transactons with a "yearly" custom tag.

That keeps the spending plan accurate during the month, and then when doing yearly reports we can verify the amounts match up with the tag. It's a little cumbersome but with a dozen+ yearly bills and subscriptions it's the least amount of work for me to keep track of.

danilaroo

+1, this seems like a very basic feature to me. My home and roadside insurance hits me in the same month and it makes no sense to me to have to mentally disregard that when I’m looking at my overall spending for that month. I’d like to be able to split that in even chunks across the next 12 months as if I were paying monthly.

UrsulaA

@Coach Marcus per your comment below, is there an update on this request?

https://community.simplifimoney.com/discussion/comment/28928#Comment_28928