Home Forums Feature Wish List [FEATURE Request] Bill payments Re: Re: [FEATURE Request] Bill payments

Eric Poulin
Keymaster
Post count: 373

Lucas, before I answer – thanks for all of your suggestions :)  You input helps me “get it right” for the masses, as I assume your thoughts are not singular.

I’m still not sure theres much of a distinction between a bill and regular repeating entry.
Let me address your bullets individually:

  • Indicate projected information (this is already what you are doing for repeating entries)
  • Bill are generally paid within a certain grace period.  (I thought about this a while ago – what if people entered when bill were due and we remind them to pay them right at the end of the due date period – then they collect more interest on that money.  After doing the math, you end up saving only pennies – and the risk of waiting until the end of the period is not worth the risk.  Most people pay their bills when they can — maybe they have to wait for a paycheck to come in during that grace period, but bills generally do occur on a patterned process that can be covered by the repeat entry parameters.  For planning you put the bill on the date you typically received it, then as the time comes you move it a few days as needed to make sure you hav ethe cash in the bank to pay it.)
  • Receiving/Payment of bill (I think a flag indicating paid would handle this)
  • Advanced (rolling over unpaid amount – not sure CB should handle this with a mechanism.  There are penalties specific to the bill, interest rates specific to the bill, carry over amounts specific to the bill.  I think the right move would be to have the user make the adjustment)

Maybe your thinking of something different when you say “bills”.  In my mind rent, car loan, RRSP, etc are bills along with other things you may owe.  So far, I think bills and standard repeat entries are functionally one in the same (with the addition of a paid flag).  If you disagree, please explain in more detail — I’m happy to hear your thoughts on this.