This guide is written with MoneyWiz for Mobile in mind. Need one for Desktop? 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:
- tap on the + button in the bottom of the account,
- tap on the pencil icon in the top-right while viewing the account and select New Transaction,
- while viewing accounts list, swipe to the left on the account name and use the + and - buttons.
If your account is connected to Online Banking, the first option will not be available for you.
If your account is not connected to Online Banking, the second option will not be available for you.
When you start creating an expense or an income, you'll be presented with the following window:
Use the tabs on top to switch between transaction types.
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).