Toshl Finance Blog

Toshl Medici Expands with 3000 New Bank Connections Around the World

Getting control of your finances just got a whole lot easier. Toshl can now connect to 3000 more banks and financial services around the world, bringing the total to about 13 000 financial institutions worldwide.

To the already available banks in the United States and Canada, we’ve added many new connections in Australia, Brazil, Germany, Hong Kong, India, Israel, Italy, Mexico, Singapore, Spain, the United Kingdom and many more countries. In fact, connections are now available in 60 countries.

Check out the list of available bank connections and countries.

How does it work?

  1. Find your bank, credit card or financial account in the list of bank connections. You can browse by country. First, 12 popular institutions in the country will show up. There’s also a full alphabetical list of available banks below. You can also use search on top to look for your bank by name.
  2. Connect to your account. In most cases this requires entering the username and password or connecting by being redirected to the bank/service’s page to log in. Some banks may require additional security steps.
  3. Choose the date, from when on would you like the data imported. This is important if you’ve been tracking some of these accounts manually before. Pick a date from when on you’d like to switch to automatic and import from there on. How much past data is available varies from bank to bank, it’s most often 2 past months.
  4. See the incomes and expenses fly in! In a few moments, your financial accounts and transactions will be imported from your account, automatically categorized and tagged.

Privacy & Security

Toshl is dedicated to protecting your data and your privacy. You can read more about our policies and precautions we take on our Privacy Policy page.

We work with reliable fintech partners to enable the bank connections. These companies are Salt Edge and Plaid. Plaid mostly covers connections in the US and Canada while Salt Edge provides integrations most of the other connections around the world.

When you enter your bank credentials to connect, Toshl itself does not see or store the credentials. They are saved and kept safe by our connection partners. This is needed to enable the bank connection to keep automatically updating with new data in the background. When you remove the connection, the credentials are deleted as well.

As banks in the European Union (due to PSD2 legislation) and around the world add official APIs (automatic connections), we’ll be updating our connections to support the new authentication and connection methods. With those methods, saving the credentials will no longer be required, as authentication will happen directly with your bank. We’re very much looking forward to these developments.

Availability

To connect your bank, open the Bank connections section in the Toshl Finance Android, iOS or web app.

The automatic bank connections are available to Toshl users with the Toshl Medici subscription plan. See the pricing and all the features that become available with the upgrade. A free 30 day trial is available.

Posted in Uncategorized

Attach PDFs to your expenses and incomes

Sometimes expenses and incomes come with a bit more documentation that needs to be kept in a safe place. Toshl has for a long time offered the option to add photos of receipts, either by taking the photo right away, or by choosing it from your phone’s gallery.

We’ve now added the option to add PDF invoices to entires as well. 

The option is available in the web app as well as the Toshl Android and iOS mobile apps. When adding an expense or income, just find the little camera icon on the bottom right and you’ll see the Attach PDF option there, right next to the photo option.

In the mobile app, the file picker will open up, so you can choose between the files you have for upload. You can attach up to 4 PDFs. It should work with any PDF invoice, warranty, report or similar document, as long as it’s under 10 MB in size.

The PDFs will be automatically synced to toshl.com for backup as well as for availability on your other devices, where you are logged in with your Toshl account.

Adding attachments and photos to entries is available to users with Toshl Pro or Toshl Medici upgrades. A free 30-day trial is available.

Posted in Uncategorized

Planning Graphs Arrive in Toshl Mobile Apps

The Toshl mobile apps for Android and iOS were updated today. Version 3.1.0 brings a major new feature to the mobile apps – Planning graphs.

These graphs enable you to compare your finances month-to-month, seeing the whole year at once. You can compare your monthly balances, expenses, incomes and see the growth (hopefully) of your net worth.

Better still, you can filter the graph by categories, tags, accounts or even locations. That means you can easily compare your spending on Food & drinks month-to-month. Want to see how much you spent just on your credit card and compare months? Done.

Tutorials

Check them out for more detailed instructions and tips on how to use Planning.

Availability

The Planning feature is available for all Toshl Pro and Medici users in all Toshl apps. Just make sure you have the latest update from the App Store or Google Play. A free 30-day trial of Toshl Pro or Medici is available on all platforms.

Posted in Uncategorized

Financial Planning (Android)

Learn from your past spending and earning patterns and prepare for the future. That’s what the Planning graphs are all about.

Switch between 4 tabs to monitor all main aspects of your personal finance:

  • Balance
  • Expenses
  • Incomes
  • Net Worth

and make use of detailed views, calculated averages and estimates for the future. Filter the display of your financial data by category, tag, account or location, and compare the incomes with expenses and budgets in the River flow graph.

This feature is available with Toshl Pro or Toshl Medici subscriptions.

Balance – monthly balance of incomes and expenses

This balance is shown separately for every month and is calculated as:

monthly incomes  monthly expenses = monthly balance

Staying in the positive, above the central line, is crucial. It might evade you sometime, but aim for it on a yearly average.

Expenses – spending per month

This section shows you the sum of expenses for each month, but can also be filtered to display spending for chosen categories, tags, locations and financial accounts.

Incomes – earnings per month

Display of the total sum of incomes each month can be further adjusted by filtering by categories, tags and financial accounts.

Net worth – total balance of your financial accounts

These funds accumulate if you have regular surpluses on your monthly balances. The amounts reflect the account balances at the end of the month.

Tap & hold for details and a lollipop

To get the exact value for each column, tap and hold somewhere on the graph.

A “lollipop” will pop up, displaying the exact value for that particular month.

Past months will also display averages for the last 12 months, while future months show the estimates for the chosen period.

River flow – see the financial flows each month

You’ll notice that the River flow graph is displayed below the multi-month graph. It shows how your incomes and expenses compare to each other and your budget in an individual month. If you have a monthly budget for all expenses, River flow will include it in the calculation as well. That way you’ll always know how much you can spend while staying within your budget limits.

Travel in time

12 months are shown on the graph – by default 6 past ones, the current month, as well as 5 future months.

You can move through time by using the  < >  arrows under the graph, swipping left or right, or by using the general time span settings from the right sidebar.

If you’re interested in sums for a certain period, you can also select a custom time span. The selected months will be displayed in darker color below the graph and you’ll see sums for the entire period.

Filter by category, tag, account, location

You can zero-in on specific data you’re interested in and want to see over a longer period of time.

Let’s say you want to know how your spending on Food & Drinks varies in time. Tap on the Filter icon in the upper right corner, select “Expense categories” from the menu, then tap “SELECT” and choose “Food & Drinks”. Return to the graph by tapping the “back” arrow in the upper left corner. Your spending data is now filtered to only display the expenses for the Food & Drinks category, so you can see how it varies through the year.

You can narrow it down even further by selecting a tag. Do the same in the “Expense tags” section and you can see how much you spent only on restaurants, alcohol, groceries, or a combination of multiple tags.

You don’t have to pick only one filter. They can be combined. For example, you can set it to only show expenses paid with MasterCard (financial account), for Leisure (category), for books, movies and music (tags), in HMV Manchester Arndale (location).

The filtering is global, so it will work with all the data in your Toshl app. Any filter that’s applied will be displayed above the graph, and the excluded categories, tags, etc., will be written in strikethrough.

Estimates and planned expenses

You’ll notice that the future months on the graph aren’t as colorful. That doesn’t mean that the future isn’t bright, just a bit hazy for now.

The semi-transparent columns in future months can display your planned entries, future estimates or both.

Planned entries

These are the expenses, incomes and transfers you have already entered for the future, or were generated automatically based on the repeating entry settings that you have set for your finances. We advise to add as many of these as you can possibly predict. They will help you plan your future months and help you keep the financial stress down to a minimum.

These planned entries can be set to be displayed in your graph. You can adjust this by tapping the Time span icon in the upper right corner, selecting a month to review, and setting the switch for “Show planned expenses in graphs” to ON or OFF. This will also affect other graphs in Toshl.

Estimates

Estimates project your past trends in earning and spending into the future. This provides you with a rough guide of what to expect from your balances, spending, earnings and net worth in the upcoming months, if the current trends continue as they have so far.

Since the estimates are based on your past data, the more time you’ve been tracking your finances with Toshl, the more precise they can become. We will also continue improving the algorithm for this feature, so it will become better at estimating your spending patterns.

You can switch the “Include future estimates” option ON or OFF in the filtering menu, on the bottom of the page.

Toshl monster plays it smart and plans for the future. Join in!

Posted in Android Tutorials, Tutorials

Financial Planning (iOS)

Learn from your past spending and earning patterns and prepare for the future. That’s what the Planning graphs are all about.

Switch between 4 tabs to monitor all main aspects of your personal finance:

  • Balance
  • Expenses
  • Incomes
  • Net Worth

and make use of detailed views, calculated averages and estimates for the future. Filter the display of your financial data by category, tag, account or location, and compare the incomes with expenses and budgets in the River flow graph.

This feature is available with Toshl Pro or Toshl Medici subscriptions.

Balance – monthly balance of incomes and expenses

This balance is shown separately for every month and is calculated as:

monthly incomes  monthly expenses = monthly balance

Staying in the positive, above the central line, is crucial. It might evade you sometime, but aim for it on a yearly average.

Expenses – spending per month

This section shows you the sum of expenses for each month, but can also be filtered to display spending for chosen categories, tags, locations and financial accounts.

Incomes – earnings per month

Display of the total sum of incomes each month can be further adjusted by filtering by categories, tags and financial accounts.

Net worth – total balance of your financial accounts

These funds accumulate if you have regular surpluses on your monthly balances. The amounts reflect the account balances at the end of the month.

Tap & hold for details and a lollipop

To get the exact value for each column, tap and hold somewhere on the graph.

A “lollipop” will pop up, displaying the exact value for that particular month.

Past months will also display averages for the last 12 months, while future months show the estimates for the chosen period.

River flow – see the financial flows each month

You’ll notice that the River flow graph is displayed below the multi-month graph. It shows how your incomes and expenses compare to each other and your budget in an individual month. If you have a monthly budget for all expenses, River flow will include it in the calculation as well. That way you’ll always know how much you can spend while staying within your budget limits.

Travel in time

12 months are shown on the graph – by default 7 past ones, the current month, as well as 4 future months.

You can move through time by using the  < >  arrows under the graph, swipping left or right, or by using the general time span settings from the right sidebar.

If you’re interested in sums for a certain period, you can also select a custom time span. The selected months will be displayed in darker color below the graph and you’ll see sums for the entire period.

Filter by category, tag, account, location

You can zero-in on specific data you’re interested in and want to see over a longer period of time.

Let’s say you want to know how your spending on Food & Drinks varies in time. Tap on the Filter icon in the upper right corner, select “Expense categories” from the menu, then tap “SELECT” and choose “Food & Drinks”. Return to the graph by tapping the “back” arrow in the upper left corner. Your spending data is now filtered to only display the expenses for the Food & Drinks category, so you can see how it varies through the year.

You can narrow it down even further by selecting a tag. Do the same in the “Expense tags” section and you can see how much you spent only on restaurants, alcohol, groceries, or a combination of multiple tags.

You don’t have to pick only one filter. They can be combined. For example, you can set it to only show expenses paid with MasterCard (financial account), for Leisure (category), for books, movies and music (tags), in HMV Manchester Arndale (location).

The filtering is global, so it will work with all the data in your Toshl app. Any filter that’s applied will be displayed above the graph, and the excluded categories, tags, etc., will be written in strikethrough.

Estimates and planned expenses

You’ll notice that the future months on the graph aren’t as colorful. That doesn’t mean that the future isn’t bright, just a bit hazy for now.

The semi-transparent columns in future months can display your planned entries, future estimates or both.

Planned entries

These are the expenses, incomes and transfers you have already entered for the future, or were generated automatically based on the repeating entry settings that you have set for your finances. We advise to add as many of these as you can possibly predict. They will help you plan your future months and help you keep the financial stress down to a minimum.

These planned entries can be set to be displayed in your graph. You can adjust this by tapping the Time span icon in the upper right corner, selecting a month to review, and setting the switch for “Show planned expenses in graphs” to ON or OFF. This will also affect other graphs in Toshl.

Estimates

Estimates project your past trends in earning and spending into the future. This provides you with a rough guide of what to expect from your balances, spending, earnings and net worth in the upcoming months, if the current trends continue as they have so far.

Since the estimates are based on your past data, the more time you’ve been tracking your finances with Toshl, the more precise they can become. We will also continue improving the algorithm for this feature, so it will become better at estimating your spending patterns.

You can switch the “Include future estimates” option ON or OFF in the filtering menu, on the bottom of the page.

Toshl monster plays it smart and plans for the future. Join in!

Posted in iOS Tutorials, Tutorials