Has Simplifi helped you better manage your finances? Tell us how here!

Planning for extra income

Mike Jonzke
Mike Jonzke Member
edited March 2022 in Bills and Income
Hi. I get periodic and annual bonuses and want to include them in my spending plan and cash flow forecast but don't see a way to do that. For example, my annual bonus usually pays in March so I'd like to put say $5,000 extra income in March. Periodic bonuses pay quarterly so $1,000 in June, Sept, and Nov.  There does not appear to be a way to plan for extra income or am I missing something. Also, when I tried to Manually add income it took me to the Manual Bill dialog. Is that a bug? Very new to Simplifi.


Best Answer

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Answer ✓
    Hello @Mike Jonzke,

    Thanks for posting your inquiry to the Community!

    Hopefully some other Users come along with suggestions on how they've handled this type of situation in Simplifi, however, you do have a couple of options that I can think of. You can either enter these as future-dated transactions, and they will then be moved to the 'Upcoming' section until the day of so you'd be able to see them in your Projected Cash Flow (up to 6 months out), etc.

    The other option would be to create an 'Every Quarter' Recurring Series for this, which sounds like may be what you're referencing above. If so, to have the Recurring Series reflected as "Income", you'd want to use an Income Category when creating the Series. More details on using Recurring Transactions in Simplifi can be found here

    With that being said, until Future Spending Plans becomes available in Simplifi, you won't be able to see these items in your Spending Plan until the month of, however, entering them with either option will set things up to where the extra Income is automatically added to the respective month's Spending Plans. 

    Future Spending Plans is coming soon to Simplifi, however, so please be sure to follow along here for updates to this ability: https://community.simplifimoney.com/discussion/701/future-spending-plans-7-merged-votes#latest

    I hope this helps, but please be sure to let us know if you have any further questions! :smile:

    -Coach Natalie
This discussion has been closed.