Creating a New Bill
When creating a Bill, this will also be entered into your Calendar and Budget if you choose a category. The way we track your Bill to determine if it has been paid is by entering a Transaction. When clicking the “record” link next to a bill and filling out the Transaction, this will now be tied to that Bills payment. Therefore, if you delete the Transaction from the My Transactions page, your Bill will automatically get marked as unpaid. The default view gives you a forecast of the current months Bill payments. Once you create a Bill, you are then shown a list of all Bills that have been entered. The My Bills page is tied directly to your Reminders, Contacts, Transactions, and Budget.
The first thing to check for when creating a new Bill is if you have your accounts already setup where your Bill wil be wthdrawn from. If this is going to be a credit, make sure you first go to the My Accounts page to create a credit card account and checking account where the credit card will be paid from. You’ll then have the following options which can be applied to your Bill:
- Name – This is the company name of the Bill being paid
- Amount- This is an estimate of how much you wish to pay each month or recurrence.
- Start/End Date – When do you want the recurrence to start and end?
- Recurence – From here you can choose the Bill to be paid, monthly, weekly, yearly, or just a one time bill.
- Category – This is what will directly tie your Bill to your Budget. If you choose the “Tie to Budget” checkbox, your bill amount will automatically be calculated into your Budget. If unchecked, the category will still represent your budget but the amount will not be automatically calculated for you. This is for cases where your Budget category will represent more than just a Bill.
- Send E-Mail Reminder – This will allow you to receive reminders to your email address when your Bill is due. You must first verify your email to use this feature.
- Add to Contacts – Checking this box will allow you to specify additional details about the Payee your making your payment to. This information will also appear when you click the “Bills Contact” link from the sub menu.
- Auto Record Transaction – This will allow your Bill to be automatically recorded for you on the day your recurrence happens without you having to manually enter the transaction. This should only be used for Bills which have an exact amount that you know will be paid.
- Notes – This allows you to enter any additional notes about the Bill that you’d like to keep track of that may not be available in the Contacts section.