What are Holvi's budgeting periods and how to use them?

In this article we'll go through how budgeting periods are created and how to use them. 

Table of contents:

1. Budgeting periods in general

2. How do the budgeting periods work

 

Budgeting periods in general

Budgeting periods are your way to show only relevant and up-to-date information in your income and expense categories. You can use budgeting periods to

  • Hide the transactions from your previous fiscal year/period and start fresh with clean slate
  • View transactions from your previous budget periods in category archives 
  • Also the Profit calculation is updated to match your current budgeting period as it compares the realised parts of your income and expense categories

 

How do the budgeting periods work

To enter the Budgeting periods menu:

1. Click on your account name and balance

2. Choose budgeting periods

3. Define budgeting period. Here you can choose to define it manually, monthly, quarterly, every half year and yearly. If you choose monthly, quarterly, every half year or yearly the budgeting period will be defined automatically.

4. If you choose define budgeting period manually you need to choose an end date. 

5. If you choose define budgeting period manually you need to click close current and begin a new period.

Starting a budgeting period will show only the transactions that have their payment or issue date in the specific budgeting period. If you wish to see older transactions you can open the income or expense category you want to and browse its archived transactions. 

Please note that recategorising archived payments may lead to difference in your reports. So always, if you need to recategorise any archived payments, remove your budget periods and then switch them back on.

If this is the first budgeting period you create, the starting date will be the date when you created the account. If you already have an existing budgeting period, the starting date for your next financial period will be the day after your previous budgeting period ended. You can activate and remove budgeting periods as you wish, they do not cancel or delete any transactions in the account so you can experiment with this feature as much as you wish. You can also set the budgeting periods to reset following different cycles (monthly, quarterly, every half year, yearly of based on your custom settings).

Holvi's reports will not be affected as you can define the dates individually when you choose to view a report.

 

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