1 / 18

What is ‘Watch My Budget’ Software to visualise, plan and track Personal Finances

What is ‘Watch My Budget’ Software to visualise, plan and track Personal Finances Comprehensive: budgeting, cash flow, accounting and debt calculation Can be used in different ways and levels Efficient: many outputs with minimal effort

quon-hubbard
Download Presentation

What is ‘Watch My Budget’ Software to visualise, plan and track Personal Finances

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. What is ‘Watch My Budget’ Software to visualise, plan and track Personal Finances Comprehensive: budgeting, cash flow, accounting and debt calculation Can be used in different ways and levels Efficient: many outputs with minimal effort Ideal tool for budget advisors (and clients) Cost: free for voluntary budget advisors freeware version allows manual tracking otherwise US$20 after 60-day free trial download from rsvconsulting.co.nz Using WMB for Budget Advising

  2. Using WMB for Budget Advising alternative to budget sheet & cash flow sheet not a spreadsheet, does not require Excel not a client and advisor management system advisor can setup budget & investigate client can visualise finances medium-term produces reports and graphs for office produces printouts and graphs for client client can record actual payments on printouts, Excel cash flow or using free version of WMB Using WMB for Budget Advising

  3. WMB for Budget Agency Agency and/or advisor name on each report Customise a budget to use as agency template:- categories to match agency budget sheet- accounts setup as recommended by agency Customise excel budget header rows including agency logo Signature clause for advisor & client signatures Reports with print headings and scenario names Comments report for various agency purposes Using WMB for Budget Advising

  4. Graph – future balances Budget View Account Outline - graph Budget list Category Outline - focus Status bar - statistics Using WMB for Budget Advising

  5. Adding a Budget add a new budget document select a ‘sample’ budget as template:provides typical categories, items & accounts Use client name (and client#) as filename: filename is used on reports No other setup: budget is ready with zero amounts initially ‘Without Tracking’, looking into future customise categories and accounts can import existing KR-budget from Excel Using WMB for Budget Advising

  6. Entering a Budget Each budget each item has: category, period, amount, date, account each item generates payments add and delete items, deactivate edit extra details in a form: stop date, comments, split Using WMB for Budget Advising

  7. Entering a Time-varying Budget Budget items can have start and stop dates ‘One-off’ items for goals outside normal budget Budget items can have seasons, to vary amounts by month Time-varying budget can be more realistic Budget reports and statistics either:- snapshot on specific date - average over future months, using stop and start dates Using WMB for Budget Advising

  8. Results of Budget Visualise results in forecast graphs Right-click graph to copy or print Using WMB for Budget Advising

  9. Results of Budget Draft Budget Report useful to check figures Budget Report - excludes payment details Budget to Excel Using WMB for Budget Advising

  10. Results of Budget Spending Report Comments Report Balance Sheet Using WMB for Budget Advising

  11. Printouts for Client Cash flow –can be exported to Excel Payment List Payment Form Using WMB for Budget Advising

  12. Managing Cash Flow Adjust payments in upcoming pay periods Delay or Reduce payments, add overdue Can change budget items Using WMB for Budget Advising

  13. Tracking of Actual payments Possible but not often required Client canrecord on Payment Forms or, Client can use free version of WMB to edit and confirm payments as they occur Client is up-to-date with current situation Client can visualise whether following budget Using WMB for Budget Advising

  14. calculate repayment amount from stop date or vice versa Debts each debt has balance amount and date repayment budget item has % interest Calculation Report - total payments and interest: Using WMB for Budget Advising

  15. Debts can be time-varying % interest and $ repayment repayments since known balance are generated & can be edited: up-to-date balance for reports Client can visualise debt being repaid, in graphs Debt Report summarises total debt situation: Using WMB for Budget Advising

  16. Investigating Edit/Deactivate budget items to see affects: Reduce expenses Increase income Sell assets Consolidate/reschedule debt Use category outline to focus on part of budget Change budget period to see annual figures Setup scenarios with multiple items (advanced) Save As or Copy As then edit Compare Spending Report or Calculation Report Using WMB for Budget Advising

  17. Multiple Accounts Current a/c, savings, bills, cash, journal Not necessary for basic budgeting Budget by Account Report calculates transfer Can calculate bank OD and credit interest Favorite accounts, exclude savings Using WMB for Budget Advising

  18. See the website for further details: http://rsvconsulting.co.nz/ Including overview videos: Future http://rsvconsulting.co.nz/WatchMyBudget.mp4 Historyhttp://rsvconsulting.co.nz/WatchMyBudget2.mp4 Using WMB for Budget Advising

More Related