Bill categories

You can set up bill categories where the amount is paid in full in one transaction, to reflect these bills more accurately in your budget. You can also enable bill reminder emails to help keep track of overdue, paid and upcoming bills 📆 ✅ 📩

In this user guide

Bill categories overview

Setting up bill categories ensures that your bill payments (such as a phone bill or electricity bill) are treated as transactions paid or received in full. Planned spending for bill categories won't be distributed over the category's entire budget period, unlike non-bill categories. 
Examples of what will work as a bill category:
📱Mobile phone bill
⚡️Utility bills, such as electricity, gas, internet, etc
💰Regular income from your job

The difference between bill and non-bill categories:

There are two main types of categories in PocketSmith - bill categories and non-bill categories. 
The are two main differences between the two category types:
  • Budgets for each category type are treated and displayed differently to each other on the Budget page and the Trends page. 
  • You can choose to schedule bill reminder emails for bill categories, helping you to keep on top of any upcoming or overdue bills! 

You can set a category to be a bill or non-bill category within  the settings for the category.

Bill categories

  • PocketSmith will treat bill category budgets as whole amounts that occur on the day the budget starts (or repeats)
  • Repeating bill budgets are not evenly distributed over the budget period from the budget start date to the next repeat date 
  • On the Trends page, and when the option Apply this date range to the entire Budget page is selected on the Budget page, repeating bill budgets are only included in calculations if the start or repeating date occurs within the current date range being viewed

Example
Sally has a budget of $90 for one of her bill categories called ⚙ InsuranceShe started this budget on November 1 and it is set to repeat every three months. Sally sets the budget summary date range to show from November 1 - November 14 and has ticked Apply this date range to the entire Budget page.

PocketSmith will not distribute this budget amount of $90 across that three month period, and instead, only considers the bill to take place on November 1st (and then again on the date three months later). So once Sally has decided to apply the date range of November 1 - November 14 to the entire Budget page, the budgeted amount showing beside the ⚙  Insurance category will be the full $90.

Non-bill categories

  • PocketSmith will evenly distribute the budget for non-bill categories on the Trends page
  • PocketSmith will evenly distribute the budget for non-bill categories when the option Apply this date range to the entire Budget page is selected on the Budget page
  • What this means is, if a budget period only partially fits into the date range being displayed, the budgeted amount calculated will include just the portion of the budget period that is within this range

Example
John has a $90 expense budget for his 🍬 Treats category that runs from November 1 - November 30. However, John has set his Budget Summary date range to show from November 1 - November 14 and has ticked Apply this date range to the entire Budget page.

Because PocketSmith will evenly distribute this $90 budget across November 1 - November 30, once John has decided to apply the date range of November 1 - November 14 to the entire Budget page, the budgeted amount showing beside his 🍬  Treats category will only be for $42.


Setting up bill categories

1
Head to the Settings menu and select Categories
2
Navigate to the category you'd like to change to a bill category, click on the three-dot menu and select Edit
3
Tick the check-box  This is a bill category and click Save


Scheduling bill reminder emails

Bill reminder emails allow you to schedule emails to remind you of upcoming and overdue bills. 

Any category that is set up as a bill category is included in the reminder emails. Set up your bill categories and then schedule the time and days you'd like to receive the reminder emails. Once set up, PocketSmith will send weekly emails on your chosen day(s), letting you know if you have outstanding or upcoming bills to pay 💸

Steps to schedule bill reminder emails

1
To schedule the bill reminder emails, head to  Settings > User Preferences
2
Select Email notifications in the left menu
3
In the Bill reminders section, choose a time and the day(s) of the week that you want the bill reminder emails sent and click  Save You will now receive bill reminder emails in your inbox based on your selected time and chosen days 📩

Still need help? Contact Us Contact Us