Funds in Simple Budget are spending or income categories designated to help you manage your spending and saving in specific spending areas. There are two kinds of Funds: Expense (Spending) funds and Income funds. Expense funds are normally used whenever you spend money or pay your bills. Income funds are normally designated as income like your paycheck.
In Simple Budget, you can easily Add, Change names, or Delete funds.
To work with Funds, click the “Budget” menu, then click on “Funds”.
Adding a Fund:
To add a new Expense (spending) fund, enter the name of the fund you want to add in the “New Fund ->” space. Click “Add Fund” button or simply press enter. The fund has been added. If the fund is to be an Income fund, make sure the “Income Fund” checkbox is checked before you click “Add Fund” or press enter.
Change a Fund Name:
To change a Fund’s name, select the fund in the list and press “Change Fund Name”. Simple Budget will pop up another small window. Make any changes to the fund name and press “Change Name” or “Cancel” if you decide not to change the fund name.
Delete a Fund:
– To delete a Fund, it must have a zero budget amount and a zero balance. The Budget amount and the (Balance – Budget) amounts are displayed when a fund is selected. The balance amount changes with the budget amount, so it is easiest to change the budget amount first. Close the window, and go to the “Budget” menu and select “Budget Amounts”. Select the Fund in the list, set the budget to zero in the Calculator Input field and press “Change”. This will UNbalance the budget by the amount the fund used to have, so other funds will have to be adjusted appropriately. See more information on setting “Budget Amounts” HERE!
– Once the Budget Amount is set to zero, the fund has a balance other than zero, it must be taken care of. You will notice that once the Budget was set to zero, it subtracted that amount from the balance. That is because the budget amounts are added to the funds at the beginning of every month, and if you take that budget amount away, it has to be subtracted back out. If the fund balance is less than zero, you will have to transfer money into the fund to make it zero. If the fund has a positive balance, you will have to transfer money out of the fund to make it zero. See more information about “Transactions and Transfers” here!
– If the fund Budget Amount and Balance are now zero, you can go back into the “Funds” menu. Select the fund you want deleted. Both balances should say 0.00. Press the “Delete Fund” button.
– A window will pop up to confirm that this is what you really want. There are some ramifications that come from deleting a fund, like if it was used in a transaction in this period, that transaction can not be edited or deleted. Read the whole warning, and if you want to delete the fund, press “Yes, DELETE FUND”. A deleted fund can not be undeleted.
Simple Budget needs at least one fund.