All of the bills that are paid from your cash reservoir are maintained on the Bills page. When you pay bills twice a month, you do so on the Pay Bills page.
There is no limit to the number of bills that can be maintained on the Bills page.
When you add a scheduled bill, the expected payment dates and amounts for that bill are calculated by Income Companion for the next twelve months. The calculated payments are listed on the Bills page and added to your Incredibly Cool Budget on the Look Ahead page. You will normally edit a scheduled bill only when a change in the payments will happen. All changes are immediately shown on the Bills page and in your Incredibly Cool Budget on the Look Ahead page.
When you add an unscheduled bill, you maintain the expected payment dates and amounts by editing the bill. Expected payments that you add, change, or delete for unscheduled bills are immediately displayed on the Bills page and in your Incredibly Cool Budget on the Look Ahead page.
Each bill has its own ledger. You can allocate money to be used for making upcoming payments by moving money to a bill’s ledger. You can also link a bill to either a sinking fund or savings. When a bill is paid, money for the payment is taken from these ledgers, in the order listed, until the amount needed to make the payment is found.
You can clone any bill on the Bills page. Cloning aids with the adding of a new, similar bill and with playing “What If?” when making purchasing decisions.
All bills have an info window that you can optionally use to save reference information such as:
Paying bills twice a month is a two-step process.
When you first display the Pay Bills dialog box, review the last statement dates for listed credit cards to ensure that the latest statements for all of the credit cards have been reconciled. Do not proceed with paying bills until all credit card statement reconciliations are current.
The colored columns show how payments and set-asides are to be made:
All automatic items are pre-checked. You cannot uncheck them. As you complete the non-automatic payments in the red and brown columns, click on a bill’s row to check it as paid. When all rows are checked, click on the “Done” button to finish and record all bill paying actions.
When any bill is paid with a credit card, the Credit Card Payments dialog box is displayed. Schedule credit card payments for all of the bill payments made with a credit card.