Home Budget FAQ

Q. What is the Envelope Method of Budgeting?

A. The idea behind this method is to use envelopes to divide your pay into categories, with each category targeted toward a specific expense. To use this system, you would obtain a stack of envelopes, and decide what expenses you wanted to budget for: for example, car payments, telephone bills, monthly rent, and so on. Then, one envelope would be allocated for each expense, and you would write the amount of the expense on the front of the envelope. Come pay-day, you would put the appropriate amount in each envelope. The money would then stay in the envelopes until the time came to pay the corresponding bill, at which point the funds would be taken out and used. Home Budget makes this system electronic.

Q. Is there a tutorial or information on how to quickly get started using Home Budget?
A. Yes. Click here for a Tutorial

Q. How many transactions will a Home Budget database handle?

A. The limit is only based on how much memory you have. Home Budget has been tested with databases that contain over 50,000 transactions.

Q. Do I need to purge out previous years information?

A. No. Since Home Budget is fast at handling its data, and the range window provides you with just the view of the months you need, you can leave all your data in one database. However, backups are always a good idea.

Q. Does Home Budget implement a Double Entry system?

A. Yes when you enter a transaction under a expense account and pay for it using a credit card, the transaction will be double entered under both accounts.

Q. Can I extract data from an account to Excel spread sheet?

A. Yes you can use the "Export" function and select "comma delimited" format. You can then import this file into Excel.

Q. Can I change the date format to DD-MMM-YYYY?

A. Yes under the Windows control panel select regional icon and then Date Tab. Enter dd-MMM-yyyy under the "Short date style" box. Enter "-" under the Date separator box. Then under Home Budget, Setup menu, choose options dialog select the "Preferences" tab and check the box that says "Use Windows regional setting".

Q. I don't understand Home Budget. How come when I deposit into a Bank account and specify an expense account as the source account - both accounts are Credited?

A. In Home Budget each Expense account is like an envelop that holds money ready to pay a later expected expense. By depositing money as above the specified expense account now reserves that money. The bank account still reflect the true amount actually in the account.

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