Some personal finance software offers a feature called the financial calendar, or bills calendar. This is really another way to view bills or income and expenses instead of using a dated list. The financial calendar looks just like the calendar for the current month, with boxes for days which are labeled with dates. Bills appear on the days that they are due, and income appears on the days that a deposit is expected. The calendar may also have cash flow reporting at the bottom of each day.
Why Use a Calendar?
Use the financial calendar in your software to track upcoming bills. While all financial software shows a list of bills for upcoming weeks, sometimes viewing the bills on a calendar gives a better perspective on when you should make payments so you don't miss a due date and incur late fees. Viewing pay checks and other income on the calendar is also useful because it helps the user know if adequate funds are available to pay all bills on any given day.
Some calendars also keep a running balance of the difference between income and expenses, which is often referred to as cash flow reporting. The cash flow amount usually turns red as an alert when the accounts that bills are paid from don't have adequate funds to cover expenses. Seeing this alert in advance gives the user a chance to deposit more money into the checking account.
How to Set Up Your Financial Calendar
Before you set up the calendar, all expected income must be set up in the software. It's also essential that all recurring bills are set up as scheduled transactions. Your software may then automatically use this data, or you may need to go into the calendar set up options to specify accounts to include on the calendar. If you're not sure how to do this, click on Help in your software and search on "calendar".
Financial Software with a Calendar
The following personal finance software includes a financial calendar feature: