This article will run through an overview of how the spending plan factors in your scheduled payments and budgets to calculate your Leftover within this current pay cycle. (The short answer is that payments set up as scheduled transactions are omitted from Budgets)
Relevant to users on:
Money Dashboard Neon
Not sure which App you are on?
If you are unsure if you are on Money Dashboard Classic or Money Dashboard Neon? You can find that information here
Do transactions that are set up as Scheduled Payments get double-counted when they are tracked under a Budget?
To explain how the Leftover is calculated when you have a transaction that is included in both your scheduled payment and budget, we will use an example with the following transaction:
PHONE BILL - £10 , categorised as ‘Bills’
If you have set this as a scheduled payment and also set up a budget that tracks the ‘Bills’ category and if you recall, the Leftover figure is a result of:
(Account BALANCE + Upcoming INCOME) - (Scheduled Bill Payments - Budgets)
This would appear to be ‘double-counting’ and taking off £20 (£10 x 2) from your Leftover figure instead of £10.
To facilitate this, the application automatically ‘disregards’ a transaction from a budget if the transaction is also set up as a scheduled payment. The transaction is taken into account under the pre-populated ‘Scheduled’ budgets and is automatically ‘removed’ from your created budget.