#305 Possible incorrect calculation on bi-weekly budgeting

[unimike958]

I think it is a bug -- When I try to budget a certain amount for bi-weekly. The calculation doesn't come out right.

Here's what happened on budget -- I want to set up $75 for automobile gas for every two weeks.

1. I set $75 on bi-weekly for Automobile:Gas on monthly budget screen
2. The software calculates it to $162.95 (????) It should be $150.00.

I am unable to use bi-weekly for anything else since I receive my paycheck on bi-weekly basis.

Thanks for solid product!

[Stefano]

The calculation is correct.

Reason:
Bi-Weekly period = 14 days
Average month = 30 days = 2 fortnights + 2 days

Calculation is based on a one year period: 365 days.

$75 / 14 ...... gives us $ per day.
* 365 ........... to give us one year
= $1,955.36 per year
/ 12 ............. for a single month
= $162.95 per month

Your calculation of $75 per fortnight giving $150 per month would produce:
$150 * 12 = $1,800 which is about $155 short.

[unimike958]

Thanks for the formula, the calculation makes sense now.