Creating next years budget RRS feed

  • Question

  • I am using the current MS Money Sunset Edition software.

    I have a 2014 current budget in place. I want to retain the 2014 budget and develop a future budget for 2015. Would the correct process to accomplish this be to save the 2014 current budget, create the 2015 budget, update categories, subcategories and budgeted amounts as needed, save the 2015 budget and then open up the saved 2014 current budget? Then on Jan 1, 2015 I would save the 2014 budget and open up the saved 2015 budget for the next year? Also , once I am running on the 2015 budget, if I need to look at the 2014 budget for historical purposes, I would save the 2015 budget, open up the saved 2014 budget, get what I needed and then open up the 2015 budget again? Another words, is flip flopping the budget years the way to work with multiple year budgets? Thanks for any info you can give me.

    Thursday, November 13, 2014 6:55 AM

All replies

  • I don't use your version of Money but what you describe should work. Provided they have different names, you can create as many budgets as you like (or at least I can in UK Money version 8). I name my budgets as the period they cover, so  FY14/15  covers 2014-04-06 to 2015-04-05. 

    I suppose (or suggest) you use the 'How am I doing on my Budget', under 'Spending Habits', report - and then customise that. Just take care to ensure that the period (custom dates) of the budget and period (custom dates) of the report exactly match, otherwise the differences between actual and budgeted expenditure will be pretty meaningless.

    I can save Budget Progress reports going back 3 years but not further back than that - a small quirk that I choose not to worry about.


    Thursday, November 13, 2014 3:26 PM