How to Prepare Your Finances (Web App) — Toshl Finance Blog

When you begin utilizing Toshl for the first time, it’s great to prepare a couple of items so things can run in the future. We’ll show you the way to do this at the Toshl web program, which works well on tablet computers and desktop/laptop computers. You can do the things within our iOS program that is mobile but the buttons may be positioned a bit differently.

Without further ado, here’s what you should do:

1. Add your bank account and accounts

When you join on Toshl, a Money account is inserted beforehand. It is possible to see your accounts by clicking the “Accounts” button at the top directly on the net app.

Open count what is inside, your wallet. Then click “Edit” under the accounts, and then “Edit” again right next to the account. In the inital balance field, enter the amount that you counted on your pocket. Remember that the inital balance amount will be added to the current balance, it will not just replace it. Even though you started with balance 0 on the accounts, that is all the same.

When you’ve entered the first balance of this accounts “Save”.

You are all done if money is all that is all you mean to track in Toshl and you utilize. However, you have a credit card or 2 and at least a bank account to add.

Click on “Add account” to add another bank accounts. You can name the accounts you like, but for the title of the bank where the account is directly at or the title of this credit card will be most suitable. Remember to check what the current balance on that account is and then enter it as your balance. Just like you did with all the Money account.

That you go. All place.

Once you add Toshl and an expense or a income, you may decide to which accounts should this entry proceed. Expenses will be subtracted from your balance, incomes will be added. Balances on accounts have been “all time”, meaning they will always show the present balance, whichever time span you have chosen to exhibit.

Quick tips:

— If you draw money at an ATM, include this as a move from the bank account (or credit card) to your account.

— If you will need to pay your credit card bill, incorporate this as a move from the bank accounts to your credit card accounts. Most probably the credit card balance ought to be 0 just after you’ve paid.

2. Assess your categories and tags

We have already added the categories and tags that should cover the majority of earnings and your spending. Naturally all of us have our own things happening, so you may want to bring a couple. Go to the Expenses or Incomes section and click on the “Edit categories” button.

This will take you to the Edit categories & tags screen.

Have a look around click to see the tags, whether you are missing anything see if you are, and include them.

3. Add your salary and other incomes (repeating incomes)

Many people have some kind of standard income. Set them to replicate automatically so you do not have to input them manually each month or every couple weeks and it’s ideal to enter them.

Go to the Incomes section. Click the green + button.

Now enter the information about your salary: amount, the group “Salary”, if you like you may also add tags. Opt for the account this salary comes to and the length of this month you get the salary on. Important: you may set up the date within one of the previous months If you wish to add wages. Bear in mind the previous salaries are also added to your financial accounts.

Now click “Show more” below.

You should set the salary to repeat. You can set that using all the dropdown menu beside the “R into a circle” icon. Set your salary to replicate that you are paid. Be weekly every day or whatever time you want. You may pick the “Custom replicate” and set it to replicate in any period you like e.g. every 2 weeks, every 17 days.

If your paycheck varies, you can then edit each individual replicate to enter the proper quantity. If this occurs a lot establish a reminder (the tiny bell icon) to remind you to do this using a notification when the following pay-check arrives.

Save and you are done. The salary will show up automatically in each period. Hopefully, just like the one that is actual.

4. Add your regular bills (repeating costs)

You should also add the bills you know will come each month to produce matters quicker more predictable and fiscal planning easier. Add things such as power, internet debts, rent, gym memberships… all the normal expenses you have on your lifetime.

Go to the Monthly or Rename overview section and click on the reddish button that is + on the right.

Enter all the relevant data like the customary amount, group, tags (optional) and the date from the month that you pay the bill on.

Now click “Show more” below.

Click the replicate options dropdown beside the “R at a cricle” icon. Select one of the predefined repeating periods for example, weekly, monthly or add a custom made period like every four weeks, every 3 months etc..

If you’d like to be reminded to pay those bills when they arrive you can also set up a reminder so you will be reminded by that the notifications if the bills arrive. It’s also helpful you need to change it and in the event the bill’s amount varies. It is possible to set the reminders up on before, the day it’s due, or any moment you prefer. Up to 4 admissions per expense.

5. Look around Toshl, input costs on the go

Now that you’ve entered expenses and your anticipated incomes, the charts around Toshl should appear a bit. Explore them a little and see how they will be able to assist you with monitoring your finances. Then as time passes, be sure to put in the incomes and expenses on the fly. Establish a daily reminder from Notifications / Settings if you are having difficulty remembering to put in the expenses. You will find the hang of it.