In strict accounting terms, transfers are not expenses, but a simple movement of assets from one account to another. The same applies to
ATM withdrawals, credit card payments or mortgage payments. For example, when you take a mortgage, you receive an equivalent asset of the real estate property.
The subsequent mortgage payments are simply a movement of assets: you pay cash, and get home equity in return.
By default, Buxfer will identify transfer-like transactions and exclude them from your Insights and Budgets. In most cases, this is the desirable behavior. But we do let you manage things differently if that's what you would like.
To have a transfer affect your Insights or Budgets, please follow these steps:
- In the destination account of the transfer, edit the transaction to be a 1-way transfer i.e., a transfer from "No account" to the destination account.
- In the source account of the transfer, add an equivaelnt transaction of "Expense" (or edit the type to "Expense" if such a transaction already exists). You can then tag this transaction and it will show up in your Insights and Budgets.