Adding Budgets
Budgets
help you compare your actual spending with your target spending.
For example, you may want to specify a maximum amount of $175.00
for automobile fuel for one month, and then check your progress as the
month unfolds. To add a new budget, click on the Tools->Budgets menu option and then click the Add button. Below is an explanation of the fields you have to fill in:
Budget Name
The name of the budget. This can be anything you want, such as "My Budget."
Monthly Budget Amounts
This
is where you specify the monthly budget for each category.
Unbudgeted Expenses
This
is where you specify the monthly budget amount for all other expense categories not specified in the Monthly Budget Amounts Category list.
This is useful because you may only want to specify an individual
budget amount for important categories you want to track, such as
"Food:Dining Out" and "Clothing." Specifying an amount in the Unbudgeted Expenses
field allows you to include all other expenses in your budget, without
specifying an amount for each individual expense category. This is
especially useful for random expenses that you do not necessarily want
to track, but you still want them to be accounted for. Set this field
to 0 to exclude this item from the budget.
Notes
These
are any notes you want to enter about the budget. This is optional.