The AMSCOT LLP Budget Planner is an expense planning system. It will help you plan your budget by showing whether your expenses exceed your income over a period of time. It will also help you track the progress of your budget by tracking deposits and withdraws from your bank account.
The system has two principle parts: the budget and the account. The budget is similar to the grocery list: it contains the list of expenses we will pay. It also contains the list of our income. The account shows us the transactions (deposits and withdraws) we expect based on the budget. The account balance shows whether we expect to have enough money at the time we plan to pay an expense. Like the grocery list, we can adjust our planned expenses to ensure there will be enough money available.
An account can also be used as a check register to record and reconcile actual bank account transactions. The AMSCOT LLP Budget Planning system plans the purchasing of budgeted items from an account, and the tracking of purchases, deposits and withdraws from the account.
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