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Balancing Accounts with the Budget

If you think that things aren't balancing correctly between your budget and accounts, you can check it by using these steps.

Before working through these steps,  make sure your account balances are correct, and your transactions categorized correctly.

Step 1: Make sure there are no warnings, errors, or reminders in the left hand column. Click on All Accounts.

  • Click on the reminder and warning boxes at the top of the screen to see the transactions that need categories and assign them categories.
  • Click on the error box to see the transactions that have categories that shouldn't. Select them all, right-click (CTRL-click on a Mac), Bulk Categorize, and choose No Category.

Step 2: Scroll to the bottom of the account register and make sure there are no future transactions entered. Future transactions are transactions you entered that haven't actually happened yet. Sometimes people do this in order to forecast.  We strongly recommend that you only enter transactions that have actually occurred.

If you want to add future transactions to your budget, you can use the Scheduled Transactions window. 

Step 3: Reconcile your accounts. Click on each of your accounts, starting with your checking account. Click the reconciliation button at the bottom of the screen and reconcile it to yesterday's bank balance. If you don't have access to only banking where you can verify yesterday's balance, reconcile against your most recent statement.

Learn about reconciling.

Step 4:  Add your Total Category Balance to the Available to Budget number and this will match the sum of your Budget Accounts.

If you have any transactions associated with a future month you’ll want to do the calculation in that month.

Learn more about how money flows from accounts through the budget.