Decreasing Bill

Decreasing Bill ( or Income) is a Premium Subscription feature.

Using Decreasing Bill you can enter total value of the bill and track the outstanding balance as you pay the partially. Decreasing Bill can only be used with a repeating bill as MoBill uses Repeat type to calculate the due date, therefore the recurrence must be different than None. When you enter a payment, MoBill calculates outstanding amount of the bill automatically and adds a new bill with the outstanding amount into the calculated due date. When the bill is paid in full, MoBill does not add a recurrence any more.

For example, you have a bill with total amount $1000 and you pay back in monthly instalments with different amounts. These are the steps to add it as a Decreasing Bill:

1. Choose "+ Bill" on main screen
2. Fill in Description and enter $1000 into Amount field, change Recurrence to Monthly, choose the due date, for our example let say 5 August 2012, and mark Decreasing Bill option at the bottom of the screen.
3. Press Save, Now there must be decreasing bill mark (brown decreasing arrow  ) next to the bill description on the main list.
4. To enter the first paid amount mark the bill as paid and enter $25 into paid amount field. Now August occurrence of the bill is marked as paid and amount turned into $25. When you look at the Quick View of this bill by pressing it must shows Amount : $1000 and Paid Amount: $25 - Decreasing Bill
5. Change period to the next month
6. A new bill will be added at 5th September 2012 with Decreasing Bill flag checked and the remaining amount $975