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Cash basis spending plan

EFG

I budget using the spending plan, but technically many of those expenditures are on credit cards and don’t deduct until the next month, so as far as monthly cash flow ie income in/spending out, the spending plan isn’t accurate.

I would like an option to see total actual inflows and outflows on a cash basis per month.

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Spending Plan

Comments

Coach Jon

Hello @EFG,

Thank you for reaching out! We have converted this post into a discussion, as what you are describing sounds like what the Spending Plan already offers for tracking inflows and outflows on a monthly basis. The Spending Plan is a simple budget that accounts for your monthly bills, income, Savings Goal contributions, and other planned expenses, while also tracking additional spending throughout the month.

When tracking credit card spending, those expenditures will count toward the Spending Plan for the month in which they actually occur, not when the credit card balance is paid. Credit card payments themselves are listed in the Excluded This Month section by default.

For more information on the Spending Plan and how to utilize each of the sections within it, you can view our support article here: https://support.simplifi.quicken.com/en/articles/4212702-understanding-your-spending-plan#h_99b355e2a6

Additionally, you can also utilize the Income & Expense report within Reports to track income and expenses per account. It provides a side-by-side comparison of your total income and total spending. This report helps you quickly evaluate whether you are spending within your means and how your cash flow changes over time. https://support.simplifi.quicken.com/en/articles/4592676-using-reports-on-the-quicken-simplifi-web-app#h_ffce4c9f95

I hope this information helps!

EL1234

You may also want to look a the Cash Flow Projection chart for a specific bank account. As long as you keep recurring series for your CC bills and income up to date, it should be fairly accurate. I only use Spending Plan for items paid on credit card, for things paid from my bank I use series or future dated transactions so they'll show up in the cash flow.