Moneydance and planning future income

Today I received a question about an earlier post I made about Moneydance.

Good morning

I saw your post about Moneydance

I d like to know if it possible to put future income - design jobs [website, catalogs, magazine] monthly or quarterly and check if they get done or not done and paid?

Also a flow graph with income and expenses for past future monthly or yearly



Thanks

The way I budget future income on Moneydance is by using the transaction reminder option. Go to "Tools" then "Reminders" and add a new transaction reminder. Daily allows repeating every so many days, weekly is every so many weeks on a certain day, monthly is every month on a certain day, and annually is just what it sounds like - once a year. The transaction reminder also allows specifying the amount, what account it is using, and who the payee is.

I put my salary in there with how much I'm expecting to get paid and have it set to go every other Friday. The only small issue with this approach: the cashflow graphs and similar tools in Moneydance only include transactions that have been entered, but do not include reminders. There are two ways around that issue:

1. Use the balance predictor extension. This has the option of projecting how much money you should have in the future based on all the reminders you have.

2. Go ahead and enter the income & expenses you're expecting and put "FUTURE" in the memo field. Just don't forget that these haven't actually happened yet & remove the "FUTURE" word once it does actually happen.

You could also enter "DONE" or "NOT DONE" in the memo or tags on the transaction to indicate whether the freelance job is done yet or not.

The Moneydance report & graphing tools will let you specify what dates (past or future) you want to see.