Budget with NorthOne Envelopes

What they are, and how to edit them.

Kat avatar
Written by Kat
Updated over a week ago

Envelopes is the name of a budgeting feature in your NorthOne Account that allows you to visually separate your funds for things like expenses, taxes, payroll, and more. The feature was designed with Profit First in mind, but you can use it how ever you'd like! You can create as many Envelopes as you like, and you can set up Envelope Rules. Your Envelope Rules will determine what percent (if any) of your incoming deposits will be allocated to the Envelope(s) of your choice. If you are looking to send an ACH or wire, make sure you have sufficient balance in at least one Envelope. At this time, Envelopes are available to both NorthOne Plus and NorthOne Standard members.

Keep in mind that Envelopes are not locked Accounts. While Mastercard® Small Business Debit Card transactions are tied to the Deposit Account, funds will be pulled from your Envelopes in order of creation to cover the cost of a purchase or transfer if necessary.

To view and adjust your current Envelopes on desktop, click ‘Envelopes’ under your balance on the left hand side. Here you can see all of your Envelopes and their current balance. You can also create a new Envelope by using the ‘Create an Envelope’ button at the bottom of the page.

To edit your Envelope Rules on desktop:

  1. Click on the Envelope you’d like to edit

  2. Here, you can change the name of your Envelope, or add a new Rule

  3. To add a new Rule, click ‘Add Rule’

  4. Input the percent of each incoming transfer that you’d like automatically sent to this Envelope

  5. Click ‘Set Rule’

  6. You’re all set! A percent of new incoming transfers will be allocated to your Envelopes depending on the Rules you set up.

To transfer funds to and from Envelopes on desktop:

  1. Click ‘Adjust Envelopes’

  2. Choose the Envelope you want to move funds from, or select your Deposit Account, and press ‘Continue’

  3. Choose the Envelope you’d like to transfer funds to, and press ‘Continue’

  4. Input your desired dollar amount, and press ‘Continue’

  5. Review your selections and press ‘Confirm’

  6. That’s it! Your funds have been transferred

To view and adjust your Envelopes on the app, click ‘Envelopes’ along the bottom of the screen. On this page you’ll see all your Envelopes with their current balance and Rules. If you need to edit the name of an Envelope, you can do so by simply clicking on it and making the adjustment. You can also create a new Envelope by clicking ‘Create an Envelope’ at the bottom.

To adjust your Envelope Rules and balance on the app:

  1. Click ‘Edit’ in the top right corner

  2. Click on the dollar amount or percent of the Envelope you’d like to edit

  3. Input your changes

  4. Click ‘Save’ in the top right corner

  5. That’s it! Your balance will adjust accordingly, and a percent of new incoming transfers will be allocated to your Envelopes based on the Rules you’ve set

We’re always looking to add features that customers find helpful. If you have any feedback about how you’d like to see Envelopes work, please let us know!

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