Spending Plan seems to ignore, cash on hand

Options
bobluck
bobluck Member ✭✭✭
edited December 2022 in Using the Spending Plan
Come quarterly tax time, the estimated payments are drawn from cash on hand, but seem to put my monthly spending for that month in a really deep hole.
Tagged:

Comments

  • DannyB
    DannyB Superuser ✭✭✭✭✭
    edited November 2022
    Options
    Hi @bobluck

    To keep those quarterly payments from impacting you Spending plan you will need to go into the edit transaction for that payment and mark select “Ignore from spending plan”.  I don’t know if you will want to ignore it in reports, but that option is also available.

    What I do for my quarterly taxes is put cash into a savings goal so it is accounted for in my monthly spending plan and when I pay the taxes I withdraw the money from that goal to cover the payment and mark the payment to ignore in spending plan.

    Again, you can accomplish the same thing without a savings goal by just marking the payment to be ignored in your spending plan since it is paid out of cash on hand that, as you point out, is being ignored by Simplifi.  

    I have quite a bit of cash on hand that Simplifi is unaware of since at the end of each month all the “left at end of month” cash has no where to go in Simplifi unless I set up some way to move that cash forward to the following months.  I have made purchases with some of that cash on hand and do just that, mark the transaction to ignore in spending plan.  
    Danny
    Simplifi user since 01/22
    ”Budget: a mathematical confirmation of your suspicions.” ~A.A. Latimer
  • bobluck
    bobluck Member ✭✭✭
    Options
    Thanks, would like to see that money rolled over, and possible an annual budget as well.
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    Options
    Hello @bobluck,

    Thanks for posting your inquiry to the Community!

    It looks like @DannyB is helping you out with this one, however, I did want to share a couple of Idea posts that you may be interested in checking out and following based on your last comment. 

    https://community.simplifimoney.com/discussion/114/add-budget-spending-plan-start-each-new-month-with-the-previous-months-leftover-amount-option

    https://community.simplifimoney.com/discussion/1813/enter-spending-plan-budget-in-table-view#latest

    We also have a Feedback post available here for the Spending Plan that you may consider adding your feedback to. :smile:

    -Coach Natalie
This discussion has been closed.

Categories