You are understanding this correctly!
This is huge for me, as I live with three others but I pay all the bills. Previously, my bills spending was always huge and I didn’t really know how much I paid personally. Now, my flow looks like this:
- I Salary Sort money into my ‘House Bills’ Pot when I’m paid – enough to cover the cost of all the bills
- The bills are paid from that Pot, and added to our Shared Tab automatically
- My housemates pay me back via the Shared Tab
- Their payments are shown as positive payments into the Bills category my Trends tab, and I can see what I’ve personally paid, less their contributions!