You can automatically divide any deposits made to your Primary Pocket (i.e. main Found account number) across the other Pockets you create. Deposit allocations help you automate your finances by separating your spendable funds across various business needs and working toward your savings goals.
For example, if you’re paid $1,000 each week, you could automatically allocate:
30% ($300) to your Taxes Pocket
20% ($200) to your Operating Expenses Pocket
20% ($200) to your Owner’s Pay Pocket
15% ($150) to refill your Rainy Day Fund Pocket, and so on.
The remainder would be deposited into your Primary Pocket.
To add or change a deposit allocation, follow these steps:
Open the Pocket that you’d like to set a deposit allocation for.
Select the gear icon to open Settings and select Deposit Allocation to adjust the allocation amount. Don’t want to automatically allocate to this pocket anymore? Set the slider to 0%.
As you receive deposits, tap the deposit in your Found activity list to see where those funds were allocated.
All the information within your tax documents is based on data entered through the Found app. It's always advisable to consult with a tax expert before making any tax decisions.
