Do I need to set up my bank accounts in a certain way to use BudgetMagic?
To help you follow clearly the distinction between your Monthly and Yearly expenses, BudgetMagic recommends that you set up two separate bank accounts. One account will be used for depositing your Monthly Income and paying your Monthly expenditures; the other account will be used to pay your Yearly expenditures. You should be able to write checks from either account. You will want to move money from one account into the other at least once per month (Monthly Deposit to Yearly), so it is convenient to set up both accounts at one bank. That way, you can easily move funds using Internet banking or telephone transfers. If you already have one or both of these accounts, you do not need to set up new ones. For simplicity and security, BudgetMagic does not interface or link with any of your bank accounts.
