Month Close helps you reconcile your budget at the end of each month. If you have money left, you can apply it to a goal or roll it over to next month. If you are over budget, Month Close guides you through how to fix it.
What Is Month Close?
Month Close appears at the top of your budget four days before the last day of the month. It is the easiest way to reflect on your month and reconcile your budget.
Month Close shows which budget items have income remaining and which items are overspent. It then totals everything so you can see whether you are under or over budget for the month as a whole.
Note: Track all of your transactions for the month before you start Month Close.
How to Close Your Month
- Track all of your transactions for the month.
- Open your budget and select I'm Ready to Close at the top.
- Review the items with income remaining and the items that are overspent.
- Review your monthly total to see whether you are under or over budget.
- Follow the steps below for your result.
If You Have Income Remaining
You have two options for money left over at the end of the month:
- Apply the remaining income to a goal.
- Roll the remaining income over to next month’s budget as a rollover.
If You Are Over Budget
Month Close shows where you overspent and walks you through how to reconcile your budget. Follow the on-screen guidance to cover the overspent items.
Next Steps
- Your month is closed. Open EveryDollar and review your budget for next month.
- Applied money to a goal? Open Goals in EveryDollar and check your progress.