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Budget Features in Quicken

Updated: 7/09/2013 | Article ID: GEN84953

Introduction of Annual View

The Annual View presents a detailed display of your budget data.  Annual View is a replacement of the Advanced budget feature from older versions of Quicken. It enables you to see the full budgeted year broken down by month. Annual View has four different display options - Details, Balance only, Budget only and Actuals only - to allow you the flexibility to view only the information you want to view at a time.  You can see how you are spending against categories and sub-categories you wish to see (edit these categories by selecting Select Categories to Budget on the bottom right.).

In the current month of the current year, you are presented with a To Date column to show you how you are spending against the current month.

Budget Rollover

Budget rollovers are tied to your categories. You can select any or all categories to carry forward budget amounts. For example, if you budgeted $100 for gas in the month of January but only spent $80, $20 is rolled-over to February.  February will then have a budget amount of $120. This is a great feature for categories with irregular spending, such as clothing or entertainment.

If you're interested in assigning the rollover feature to one or more categories:

  1. Click the Planning tab.
  2. Select Budgets on the left (if you are not already there).
  3. Notice the icon that resembles two arrows twisted over each other. If the arrows are gray, then rollovers are turned off for that category. If the arrows are green, then rollovers are turned on for that category.
  4. Click on this rollover icon and then choose one of the following:
    • Rollover balances at the end of each month: The cumulative rollover amount for the category will be added to (or subtracted from) the balance displayed on the category line.
    • Rollover only positive balances at the end of each month: The cumulative positive rollover amount for the category will be added to the balance displayed on the category line. If there is a negative rollover amount, it is ignored and not subtracted from the balance.
  5. Note: A sub-category will add or subtract its rollover amount from a parent category if the parent is also a rollover category. If the parent is not a Rollover category, it will ignore the rollover amount of the sub-category.

Change or reset rollover amounts

If you under-spend in one rollover category, and overspend in another, you can easily subtract from, add to, or reset your rollover amounts to compensate.

Here's how:

  1. Click the Planning tab.
  2. Select Budgets on the left (if you are not already there).
  3. Click the balance amount of a rollover category you want to change.
  4. In the Rollover popup, click Edit, change the rollover amount as needed, then click Reset. To remove a rollover amount completely, enter 0.00. Click Save to update the balance of the category.

Note: If you decide later that you want to remove the changes you've made to your rollover amounts, click the rollover icon and choose Undo all Rollover edits for [Year]. This will reset all of your rollovers for the year to their calculated, default values.

Tracking paycheck reminders and loan payments

Now Paycheck reminders and loan payments are easy to track.  All paycheck reminders and loan Payments will fall into separate category groups, which enables you to select the paycheck reminder with its company name and loan payment with its account name. This option is useful to budget net salary through paychecks, and loan payments. But if you prefer to track each withholding item and loan categories separately, not through these category groups for your paychecks and loan payments, then choose categories for those withholdings and categories separately.

Next Year's Budget

 

Creating a new budget for next year has become easier.  When you create a new budget, all budget categories of your existing budget are copied to the future budget.  Once created, you can customize it to fit your needs.

While in your current budget, select Budget Actions > Create New Budget.

Toggle between budgets using the drop-down menu on the top left of your budget.

 

 

Current and Historical Budget Reports

Budget reports are now Current and Historical. Your Current Budget displays data with year-to-date data; your Historical Budget displays information for a full selected year.  

Also, you can now create reports based on category groups in your budget, with Expenses on top and Income at bottom.

 
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