Start using the app with adding payment accounts (debit/credit cards, bank accounts, cash) in the “BALANCE" tab. The “Balance" tab will contain a list of all your payment accounts, assets and liabilities. Blue means money. Yellow stands for debt. Also, you’ll find there a list of transactions for each account for the selected month.
- Open the "Balance" tab;
- Tap/click "Edit" > "Add";
- Choose "payment account";
- Enter the account name and balance, pick one of the many icons and set a currency for this particular account;
- Save your choice;
- tap/click "Done"
There’s one important issue you should be aware of. For your convenience every payment account can have its own currency. Make sure to set proper currencies for EACH PAYMENT ACCOUNT SEPARATELY. Later on you will add transactions in the currency of the account the transaction is assigned to.
Tap/click the account you’ve created, and in the opened form you’ll be able to add transactions assigned to this account (press "+").
Open the “TODAY" tab – it displays today’s transactions and lets you quickly move between days and months. Here you can easily add new transactions.
To add a transaction, tap the “+" icon in the right upper corner. The app will let you choose a category for your expense (for setting a different transaction type - income, money transfer, etc. - tap "Expense" at the top of the form). There are a number of categories both for expenses and incomes. You can create and edit the categories yourself. Some categories can include smaller subcategories.
Imagine you went shopping for food today. Choose the category “Groceries". The window now lets you choose your payment account and enter the amount.
Now try tapping the “Paid" field. You will find two additional lines for scheduling your transaction for the future: "Automatic" and "Repeat". Set the frequency with which the transaction will be repeated, and check “Automatic" for the transaction to be created on the dates you’ve chosen (if you leave “Automatic" unchecked, you’ll have to confirm the transaction by hand). Also, check the date when you want to finish repeating the transaction ("End Repeat" field). This feature is necessary for recurring BILLS such as mortgage, car loan, health insurance, etc.
Don’t forget to set up notification option for your planned transactions:
- on iOS devices, go to More > Settings > Advanced > Notify,
- for Mac open the Main Menu > Money Pro > Preferences > Notify
Specify when you want to be notified (1 day before, on the due date, etc.).You will receive the notification on the specified day. Moreover, every time you turn on your device, on the app’s icon you’ll find the number of the planned transactions that are overdue.
You can input transactions manually or by importing .ofx or .csv files provided by your bank.
Open your “BUDGET" tab. Here you can set up a budget for each expense separately. If you know what your expenses should be, do it right away, if not, wait for a while and analyze your actual expenditures. Think out the structure of your budget too. It should be convenient to use later on.
The main currency for BUDGETING and REPORTS can be chosen in the settings “More“ (for Mac go to Menu > Money Pro > Preferences > Currency). Presently the budget and all the reports are displayed in the default currency.
If you’ve set up your budget, use this tab to view your income and expenses for a selected period. The menu at the top of the screen will help you see your budget by day, week, month, etc. You can look at either a total of income and expenses, or single one of them out by category. The yellow color represents actual expenses, blue stands for actual income, gray displays your planned transactions. The widget in the upper part of the screen helps compare your gain/loss during a few time periods. Also, it shows how close your actual gain was to the gain you planned.
The “REPORTS" tab allows you to analyze your financial situation at any given period. You can see the correlation between income and expenses, a projection of your balance based on your planned income and expenses, your net worth, a list of all transaction one by one, etc. You can also filter this data by account, category, transaction type and so on.