Balance trend calculated based on planned payments
When entering the balance and planned payments (income and expenses), the “Balance Trend” value should show different values based on subtracting the planned expense amounts.
At this point it only shows the addition of the balance and not the subtraction.
Thus, when we select a time frame of 1 year, the balance trend completely ignores planned payments and deceives us into thinking that we are going to have a lot of money, when in fact, it is “biased” and incomplete data.
-
Kamil Wójcik commented
Well, we have a forecast in Wallet, but it works terribly wrong. I have already raised a case in Wallet support and describe them how I believe it should work.
This is what support member wrote me:
"Jay
17.02.2022, 08:34
Hi,Balance Forecast chart predicts if you will have enough money to pay your bills in the upcoming specific period. It compares your planned payments, expenses and debts with your expected income.
We were discussing this with our devs team and because it's not clear to our users how the balance is calculated, we decided to update the charge with brief notes. We hope to introduce this change soon.
Please note that when you set up the card so get your balance compared on a monthly basis, Wallet will compare your income dating back a month and 7 days ago. You're then comparing the exact day from a month and 7 days ago to the day of today. Hope it makes sense.
Best,
Jay"But basically forecase does not work as expected and I hope I managed to convince them.
Long story short I suggets to have 2 forecast graphs.
1. For those who do not have set budgets - Based on current predictions (period+7days), but still - it must be fixed, becasue it shows wrong data.
2. For those who have planned transactions and budgets there should be a separate forecast with columns:
- balance from beginning of the selected period,
- planned incomes,
- budgeted expenses (including planned expenses),
- calculated balanse (column1 + column2 - column3)