Hence - the app will calculate the predicted amount first. You will see the predicted and actual amounts of your bill in the IN MY POCKET breakdown. The amount of the upcoming bill is calculated based on the recurring bills you paid previously or the amount you entered manually. The next due dates will help you to plan ahead and past due dates will indicate that the bill wasn’t paid. You will see a breakdown of your already paid and predicted bills for this and the next month. Once the bill is created, PocketGuard will look at your transactions and tag them with a “Bill” stamp. Thus, the Mortgage bill will be double-counted as a budget category and the bill. If you create a spending category for "Mortgage&Rent", our algorithm will allocate a portion of money from your IN MY POCKET to cover such expenses as well as allocate the same amount of money to pay off the bill. Recurring bills will be double-counted in PocketGuard if you track them under the Bills section and create a separate category budget that matches your bill transaction category.įor example, your "Mortgage" bill is due in 2 days, and the transaction will be displayed under the "Mortgage&Rent" category. Tap the "+" icon in the upper right corner To create an auto-repeat bill, please follow these steps:Ģ. Just create an auto-repeat bill, and we will automatically create cash transactions for your bills. Let PocketGuard automate your tracking process with the auto-repeat feature. Tap the transaction to open the details info and hit the Mark as bill button. You can also go to the “Transactions” tab and locate your transaction. Enter the name of your bill, its amount, frequency, and choose the next due date.Choose a transaction that should be a recurring bill or add your bill manually.Tap the “+” sign in the upper right corner.To add a recurring bill manually do the following: While some recurring bills are identified by PocketGuard automatically, others must be added manually. NOTE: if you hide one of the accounts that take part in a transfer, the TO-FROM chain will be broken and the transactions will no longer be tagged as transfers thus being counted twice. Such transactions are marked as “TO” and “FROM”. You are transferring funds from an account with a positive balance to an account with a negative balance. Therefore, the “payment” to your credit card company is just a transfer (see “ Transfers ”). In reality, your credit card company is floating the money and you technically have not paid for it. In PocketGuard’s eyes, you have just paid for the item. Every time you swipe your credit card to make a general purchase, that amount is debited from your “In My Pocket”. Subscriptions (like Netflix, Hulu, Spotify, etc.) Įxpenses that are spread throughout the month, likeĭo NOT track your credit card payments as a recurring expense in PocketGuard as we mark those payments to your credit card company as transfers.Adding your bills in PocketGuard allows you to set aside a portion of your income required to pay them on time and calculate how much is left " IN MY POCKET".
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