This guide is written with MoneyWiz for Desktop in mind. Need one for Mobile? Click here!
Creating transactions in MoneyWiz is very important as those are the building blocks for your financial forecast overview. Online Banking feature allows you to import transactions automatically from your banks but even in those accounts you can create transactions manually. Check this guide to see how.
First, let's talk about the transaction types that MoneyWiz supports:
- expenses - reduce the balance of an account,
- incomes - increase the balance of an account,
- transfers - reduce the balance of the origin account, while increase the balance of another account,
- balance adjustments - when you want to simply adjust your account balance to a particular amount with a single transaction.
- refunds - reduce the amount of an expense by a given amount (e.g. when you are partially or completely refunded for an item at the shop).
- reimbursements - reduce the amount spent in a particular expense category (e.g. when you are reimbursed in bulk for some type of fee at the end of the year).
This guide focuses on the first 4 types of transactions. To learn more about refunds and reimbursements, please see this separate guide.
If you need to enter a check number to a transaction, please see this guide.
You can start creating new transactions manually in 4 ways:
- click on the + button in the bottom-right corner and select the transaction type,
- use one of the keyboard shortcuts:
- ⌘ cmd + E on Mac or Control + E on Windows for expense,
- ⌘ cmd + I on Mac or Control + I on Windows for income,
- ⌘ cmd + T on Mac or Control + T on Windows for transfer,
- right-click (or left-click while holding control key if you have right-click disabled) on the account name in the sidebar and select New Transaction.
- go to File menu bar at the top of the screen -> New -> and select the transaction type.
If your account is connected to Online Banking, the first option will not be available for you (the + button is replaced with a refresh button) but the remaining 3 options are still valid.
When you start creating an expense or an income, you'll be presented with the following window:
Please note that you can easily customize which fields you see here and their order. See this guide for more information.
- Account: which account the transaction originates from.
- Amount: the transaction amount. By clicking on the currency code (in this case EUR) you can select a different currency from the enabled ones.
- Description: something to help you identify what transaction is this or what it was for.
- Payee: the merchant/person participating in the transaction.
- Category: which expense/income category to assign this transaction to. Please remember that MoneyWiz uses separate list for expense and income categories.
- Date and time: of this transaction. Click on the calendar icon to select the date with your mouse.
When you start to create a transfer transaction, you'll see a window like this:
- From Account: the origin account - where the money is drawn from.
- To Account: the target account - where the money goes.
- Transfer amount: how much money to transfer. Currency cannot be changed - the transfer will always be in currencies of the transfer accounts (if one of the accounts is in different currency, you will be able to change the exchange rate).
- Description: something to help you identify what transfer is this or what it was for.
- Date and time: of the transfer. Click on the calendar icon to select the date using a mouse.
Please note that it is not currently possible to select a category for a transfer transaction. If it was possible, in reports you'd see the sum of a category as zero (equal money going out and in, resulting in net zero).