This guide is written with MoneyWiz for Desktop in mind. Need one for Mobile? Click here!
Once you create a budget and some transactions, you might be wondering how exactly does the budget register work (where your transactions are displayed). This guide aims to clarify this!
First, let's say that we have 2 accounts with a couple of transactions inside:
And that we have created the following budgets, each restarting on the 1st day of each month, monitoring relevant expense categories:
Just as a reminder, the place where your account transactions are listed is called an account register and the place where your budget transactions are located is called your budget register. Depending on your setup, your account register might be the same as your budget register but since we have two separate accounts and three separate budgets, the transactions do not appear in just one single budgets but are divided into several.
What might strike you as unusual is that you might not see transactions from previous month in your budget register. Why is this? The budget register will always display transactions from current budget period only. If you need to review historical budget transactions, please go to Reports section and generate one of the budget-related reports.
If you don't see the transactions you were expecting to see, please see this guide.
Customizing budget register view
In the center of the budget register we can see the transactions that belong to this budget. As mentioned above, you will only see transactions from the current budget period. What's nice about budget register view is that you can customize the bottom part:
Just click on the bar to change what it shows. In MoneyWiz for Desktop, you can see 2 tabs and customize each one to show one of the following:
- Budgeted - how much money has been assigned to this budget in the current budget period.
- Used - how much of the above money has been already spent.
- Remaining - how much of Budgeted money is still remaining to spend.
- Days left - how much longer (in days) until the budget renews.
- Daily Allowance - how much can you spend daily in order not to exceed your budget allowance for this period.
Explanation of the budget colorful bars and indicators
What's also unique to budget registers is the information you can gather from looking at the budgets list:
This view tells us that:
- Groceries budget has still a lot of remaining budget allowance (a lot of money available to spend). We know this because the green bar is very far to the left. We also can see that the allowance is 200,00 EUR (amount on the right side) and that the current spending is 12,54 EUR (amount on the left side).
- Entertainment budget - like the Groceries budget - still has some money to spare. We'll use it to talk about a different feature of this view. The white line separating 70,00 and EUR is not a glitch - this white line moves along the blue progress bar to demonstrate how much longer until the next budget reset. All those 3 budgets repeat on 1st of each month and this guide is written near the end of the month so those budget period indicators for each budget are in the same place, near the end. This tells us something valuable:
- if the green bar is ahead of the white line, you need to slow down your spending otherwise you risk running out of money before the budget renews,
- if the green bar is behind the white line, you might consider transferring the unused money to a different budget or savings account as it's possible you'll have some unspent money in that budget by the end of the month,
- if the green bar roughly matches the white line, you're on track!
- Car expenses budget received much more spending than the other two - which we can see by looking at the green bar around the middle and also by comparing 300 EUR and 172,67 EUR.