Internal transfers in bill calculations

Your tips and ideas
1

Is it possible to remove internal transfers from the net bill calculations - ie to give a more realistic view of overall income and outgoings?

We use a mix of joint and personal accounts for savings, day to day spend and personal spending. Consequently there are a number of internal transfers between accounts - some of these are regular, monthly transfers.

I’ve added these regular transfers into the bills schedules and marked them as internal transfers. However they still contribute to the overall gross bill, gross income and net bill calculations and so vastly over-value the true overall income and spend values.

Is there a way to exclude internal transfers from these overall bill calculations? Nb I still want the internal transfers to be recognised in the monthly and weekly summary of upcoming and completed payments, ie so I can see when they’re due, when they’ve been paid and most importantly so I know that we’ll have enough in the account.

The alternative is to deactivate tracking of these internal transfers from the bills schedules but then our joint accounts will always show as being under-resourced!

2

Hi @nicholas_rubin - anything in the ‘transfers’ category will not show-up as spending when it comes to features such as budgets or ‘your spending’ (spending analysis). That include anything you have setup as a regular bill.

The ‘Your Bills’ feature will track specific regular payments and can be helpful when it comes to showing ‘cashflow’ for a specific account. For example if you transfer out £1000 from your current account (account A) to cover some bills from a different account (account) B, you want that £1000 to be deducted from the account A balance in the forward projections.

For account B, you should setup a regular income rule which says you will ‘receive’ £1000 as a transfer each month.

By doing both of those things, when you look at the bill timeline for a specific account it will project the current balance in both accounts?

Does that make sense?

Paul