Toshl Blog

Update 2.0.3 for iOS – Set Your Own Default Screen

Today we released a new update for the iOS app, version 2.0.3 which brings quite a lot of fixes and a larger change as well.

 

Here’s the quick list of changes:

– Expenses list is the screen that opens when the app is launched
– New setting for selecting the default screen
– Icons for 3D Touch quick actions
– Added “left per day” info to budget details
– Fixed “my financial month” time span display when using a custom financial month starting day
– Bug fixes & stability improvements

 

The largest change is certainly the first screen that opens when you first open the app. The app now starts with the expense list so you can quickly see what were the previous expenses you’ve entered so you don’t forget about adding any in between. The monthly overview is still available in the top of the menu. For new users of the app, the starting steps will become a bit more optional, part of the exploration of the app to do when extra time is available.

 

We realise though that the first screen is also a personal preference, depending on what your personal financial goals are. Some prefer to see the ledger of all the entries right away, then again, others would like to see the full monthly picture of their finances that the Monthly overview or River flow graphs provide. Then again, some might want to focus even more on saving and display the budgets immediately.

 

Whichever your reasons, you can now freely select among the screens to start the app with in the Settings.

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The app should update automatically in most cases, if not you can download it from the App Store.

The Toshl 2.0 Android and Windows Phone apps are in the making and are scheduled for release in the first half of the year.

 

Posted in Announcements

How to Set Up Automatic Monthly Financial Reports (Web App)

Want a report with your finances to be delivered to your email once your financial month has finished? No problem, here’s how you can make that happen.

This functionality is only available in the Toshl Finance web app and cannot be set up in the mobile apps.
Simply go to the Export & Reports section and scroll down to the “Monthly e-mail reports”. Turn the switch ON.
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Destination emails
Your account email will be already entered as the destination for the monthly report, but you can change it, or add up to 9 more additional emails that should receive this report. Useful if you need the report with a part of your finances for work, or wish to share it with other family members for example.
Data filtering
You can choose to include Expenses & Incomes, or just either of the two. The time span in this case will be your previous financial month, as the report will be sent automatically once it has concluded.
Keep in mind that you can use all the filtering options from the right sidebar, just like with data exports.
You can filter by financial account, categories, tags or locations. You can select the ones to export or exclude the ones which you don’t want to export.
If, for example, you want your monthly report to include just the expenses with the category “Transport” and the tag “work” that would be no problem at all.
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File formats
PDF, Excel (.xls) and Comma Separated Values (.csv) are at your disposal. You can send all of them or just one or two. Keep in mind though that the files will not be sent as attachments to the emails. The monthly reports you will get by email will contain just the links to the report. The moment you click on the report icon in the email, the reports will be generated and downloaded to your computer.
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There’s also a checkbox at the end, giving you the option to send the report right away. It’s good to try out the financial reports when you first set them up and with this option, there’s no need to wait until the full financial month comes around.
Happy reporting!
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Posted in Family finance, Personal finance, Tips & Tricks, Tutorials, Web App Tutorials

Currencies in Toshl Finance – Ounces of Gold Welcome (iOS)

 

In Toshl Finance you can use practically any currency you want. We support 165 different currencies from around the world with hourly updated exchange rates and historical daily exchange rates going back more than 15 years. This in practice means that you can travel or move anywhere, enter local expenses or even change the main currency in which you use the apps. Toshl will have your back.

Add an expense, income or a transaction in a foreign currency
The most common way in which you’ll encounter foreign currencies is usually when adding an expense, income or a transaction. Tap the currency symbol next to the amount and a plethora of currencies shall open in a dropdown menu.
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On the very top of the list are your 5 recently used currencies. Your main currency is there by default, as well as the 4 other currencies that you recently used.

Below the recently used currencies you’ll find all the 165 currencies in an alphabetical list. The name of the currency is always followed by the currency symbol or abbreviation, as it will be displayed on the expense details and lists. The last piece information is the standardised three-letter international code of the currency.

 

Quick hint: You can also use search to find the currency that you need quickly. Just tap the search field on the top of the list and start typing the name of the currency you’re looking for.

 

Among the many national and supranational (e.g. the Euro) currencies you’ll expect to find there’s also a few more unusual ones. If your job description includes 17th century pillaging on the high seas you might appreciate entering your incomes in troy ounces of gold (XAU) or ounces of silver (XAG). If your dealings are more high finance than high seas, then the International Monteray Fund’s special drawing rights (XDR), might be more up your alley. Let’s not forget the the favourite child of financial innovation in recent years, Bitcoin. It’s of course also available as a full fledged currency in Toshl.

Once you’ve chosen your foreign currency, you can tap the round “i” button next to it and you’ll be taken to the exchange rate screen. By default it shows the suggested exchange rate. The exchange rates are updated hourly and are a middle rate from a variety of sources.
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You can of course enter a completely custom exchange rate of your choosing. This is especially useful when you’re exchanging your money locally in a foreign country or at a bank. They usually won’t offer the middle neutral rate, but one slightly in their favour so they can make a profit on the exchange. If you’ve found a good deal it will be only slightly in their favour, but the differences can be quite large.

To set a custom exchange rate, delete the suggested rate and start typing a new one if you already know it. You can also tap one of the other numbers on the screen, the amount in foreign currency, or the amount in your main currency. Type new numbers in one of those fields and the other two numbers will adapt to fit the data.

Confirm the rate by tapping the tick icon on the top right. When you come back to the Add expense screen, you’ll find it a bit changed.
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Below the amount you can see a preview of how the amount this is worth today in your main currency, or the currency of the financial account your are adding the expense to – if it’s different than the main currency.

 

 

Exchange rates on repeating expenses
If you add a repeating entry in a foreign currency we’ll ask you how to handle the exchange rate. A new exchange rate can be applied on each day when the expense repeats or it can remain the same as the rate hen you first entered it. Of course you can still manually set the rate on an individual repeat of the entry if you so prefer.
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Active currency
Once you’ve saved an entry, the currency that you chose has become your active currency. That simply means that the next time you’re adding an expense, this active currency will be suggested by default. It will remain your active currency until you add an entry with a different currency or change the active currency in the Settings.
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You can select your previously active currencies with appropriate exchange rates again by selecting one of the five currencies in the recently used part of the currencies dropdown menu.

 

Main currency

The main currency is most likely the currency of the country where you live, the currency in which you think. This is the currency in which all the graphs, sums etc. are displayed. You can have entries, budgets or account in different currencies, but they will always have an exchange rate so you can know how much they’re worth in your main currency when it’s all summed up.

There are circumstances where your main currency changes. Either you move somewhere else, your country adopts a new currency or you decide that you like decimals so much that you’re prepared to do all your thinking in Bitcoins from now on.

 

When changing a main currency there are 3 ways to do it:
– according to historical exchange rates (recommended)
– using one exchange rate
– changing the currency symbol, without changing the values
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According to historical exchange rates
Toshl will check on which date the expense was entered and apply the exchange rate between the currency in which it was entered and the new main currency on that date. The entries will stay in the original currency on the lists, but the value in main currency and the sums will be adjusted accordingly.

 

Using one exchange rate
Toshl will suggest the exchange rate valid for today to convert all entry values to the new currency. You can also change the exchange rate to a completely custom rate of your liking. The entries will stay in the original currency on the lists, but the value in main currency and the sums will be adjusted accordingly.

 

Changing the currency symbol
This is mostly useful if you’ve started entering with a wrong main currency selected. The values are already in the new currency, you just want to change the symbol next to all the expenses in the previous (wrong) main currency. This approach will not update the entry values at all, it will just switch the currency symbol.

 

The first two options will apply the value changes to all entries (expenses, incomes, transactions) and budgets in the original main currency. You can choose whether you want to change the financial accounts in the old main currency to the new main currency as well.

 

Warning: In most cases there should be no data loss, but some custom exchange rates can be lost with multiple changes. For example: your main currency is the Euro and you have some expenses entered in Brazilian Reals. There is an exchange rate between those two currencies saved for each expense. If you then change your main currency from Euros to Reals, the exchange rate on those entries in Reals is now lost because the expense currency is the same as the main currency, so the rate can only be 1. If you then change back to Euro as the main currency, these expenses can have the historical exchange rate for that day applied again, but if you had entered a custom exchange rate before, it was sadly lost. It should only be a minor discrepancy for most, but if you often enter custom rates and change main currencies it is a thing to look out for.

Posted in iOS Tutorials, Tips & Tricks, Tutorials

Currencies in Toshl Finance – Ounces of Gold Welcome (Web App)

In Toshl Finance you can use practically any currency you want. We support 165 different currencies from around the world with hourly updated exchange rates and historical daily exchange rates going back more than 15 years. This in practice means that you can travel or move anywhere, enter local expenses or even change the main currency in which you use the apps. Toshl will have your back.

Add an expense, income or a transaction in a foreign currency
The most common way in which you’ll encounter foreign currencies is usually when adding an expense, income or a transaction. Click on the currency symbol next to the amount and a plethora of currencies shall open in a dropdown menu.
On the very top of the list are your 5 recently used currencies. Your main currency is there by default, as well as the 4 other currencies that you recently used, other than your main one.
Below the recently used currencies you’ll find all the 165 currencies in an alphabetical list. The name of the currency is always followed by the currency symbol or abbreviation, as it will be displayed on the expense details and lists. The last piece information is the standardised three-letter international code of the currency.
Quick hint: If you start typing on the keyboard, the list will jump to the letters that you typed. This works with any standard dropdown on the web. Quite useful for finding what you want on long lists quickly.
Among the many national and supranational (e.g. the Euro) currencies you’ll expect to find, there’s also a few more unusual ones. If your job description includes 17th century pillaging on the high seas you might appreciate entering your incomes in troy ounces of gold (XAU) – or ounces of silver (XAG). If your dealings are more high finance than high seas, then the International Monteray Fund’s special drawing rights (XDR), might be more up your alley. Let’s not forget the the favourite child of financial innovation in recent years, Bitcoin. It’s of course also available as a full fledged currency in Toshl.
Once you’ve chosen your foreign currency, you’ll find the Add expense form a bit changed.
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Below the amount you can see a preview of how the amount this is worth today in your main currency, or the currency of the financial account your are adding the expense to – if it’s different than the main currency.
A bit lower is the exchange rate that will be used for the transaction. By default, the exchange rate is already entered with the automatically fetched rate that we suggest. The exchange rates are updated hourly and are a middle rate from a variety of sources.
You can of course enter a completely custom exchange rate of your choosing. This is especially useful when you’re exchanging your money locally in a foreign country or at a bank. They usually won’t offer the middle neutral rate, but one slightly in their favour so they can make a profit on the exchange. If you’ve found a good deal it will be only slightly in their favour, but the differences can be quite large.
You’ll still see our suggested rate in grey text below the field below so you can better orient yourself even if you’ve entered a custom one.
If you’re editing an old expense that you wish to refresh with the latest rate you can click the refresh button next to it and the latest exchange rate for that day will be inserted.
Exchange rates on repeating expenses
If you add a repeating entry in a foreign currency we’ll ask you how to handle the exchange rate. A new exchange rate can be applied on each day when the expense repeats or it can remain the same as the rate hen you first entered it. Of course you can still manually set the rate on an individual repeat of the entry if you so prefer.
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Active currency
Once you’ve saved an entry, the currency that you chose has become your active currency. That simply means that the next time you’re adding an expense, this active currency will be suggested by default. It will remain your active currency until you add an entry with a different currency or change the active currency in the Settings.
You can select your previously active currencies with appropriate exchange rates again by selecting one of the five currencies in the recently used part of the currencies dropdown menu.
Historical data for past entries
It might surprise you that the suggested exchange rate on an entry will change if you change the date. That is because Toshl can access historical data for the exchange rates between currencies back to 1999. That way, when you enter an expense, the correct value of that expense on that day will be recorded. No more worries about currency fluctuations or inflation messing with your financial memories.
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Main currency
The main currency is most likely the currency of the country where you live, the currency in which you think. This is the currency in which all the graphs, sums etc. are displayed. You can have entries, budgets or account in different currencies, but they will always have an exchange rate so you can know how much they’re worth in your main currency when it’s all summed up.
There are circumstances where your main currency changes. Either you move somewhere else, your country adopts a new currency or you decide that you like decimals so much that you’re prepared to do all your thinking in Bitcoins from now on.
When changing a main currency there are 3 ways to do it:
– according to historical exchange rates (recommended)
– using one exchange rate
– changing the currency symbol, without changing the values
5
According to historical exchange rates
Toshl will check on which date the expense was entered and apply the exchange rate between the currency in which it was entered and the new main currency on that date. The entries will stay in the original currency on the lists, but the value in main currency and the sums will be adjusted accordingly.
Using one exchange rate
Toshl will suggest the exchange rate valid for today to convert all entry values to the new currency. You can also change the exchange rate to a completely custom rate of your liking. The entries will stay in the original currency on the lists, but the value in main currency and the sums will be adjusted accordingly.
Changing the currency symbol
This is mostly useful if you’ve started entering with a wrong main currency selected. The values are already in the new currency, you just want to change the symbol next to all the expenses in the previous (wrong) main currency. This approach will not update the entry values at all, it will just switch the currency symbol.
The first two options will apply the value changes to all entries (expenses, incomes, transactions) and budgets in the original main currency. You can choose whether you want to change the financial accounts in the old main currency to the new main currency as well.
Warning: In most cases there should be no data loss, but some custom exchange rates can be lost with multiple changes. For example: your main currency is the Euro and you have some expenses entered in Brazilian Reals. There is an exchange rate between those two currencies saved for each expense. If you then change your main currency from Euros to Reals, the exchange rate on those entries in Reals is now lost because the expense currency is the same as the main currency, so the rate can only be 1. If you then change back to Euro as the main currency, these expenses can have the historical exchange rate for that day applied again, but if you had entered a custom exchange rate before, it was sadly lost. It should only be a minor discrepancy for most, but if you often enter custom rates and change main currencies it is a thing to look out for.
Posted in Personal finance, Tips & Tricks, Travel, Tutorials, Web App Tutorials

Location, Location, Location! Expense! Location. (iOS)

Looking at an expense. Food & drinks, 10 € on the 21st… What was that? My stare at the expense grows emptier by the second, perfectly reflecting the emptiness of my memory. If I only remembered where I had spent that. Easy solution: add a location to expenses in the future and the problem will go away. Plus, I’ll get a pretty cool spending map in the end.

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Adding locations to expenses is a bit better in the mobile app, because you’re adding on the go and the location on your mobile phone is more accurate. But it can easily be done in the the web app as well.

When adding an expense or income, click Show more, to display all the options. The first field in the newly opened options is the location. When you click into the field, the suggestions of nearby locations and venues show up.
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The locations displayed are the Foursquare venues that exist in your immediate surroundings. If you already see the venue where you spent your money, just tap on it and the location will be added with your expense. Save the expense and that’s it.
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Clicking on the mini map on the expense details will open it in Apple Maps.

 

What if the right location isn’t on the list?
If the location isn’t on the list, but you’re sure it should be near, tap “More locations” below the list of suggestions.

You’ll get a longer list with more suggestions of venues around you. If it still doesn’t show up, or the actual location of the venue is different from where you are right now, try searching for it.
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This works well if you’re adding an expense when you’re at the actual location, but if you’re already some where else, or want to make it more precise, we have another trick up our sleeve. You can paste in the coordinates to display the venues around that location. This option is only available in the Web App though. See the Locations blog post for the web app.

 

We will be improving this functionality in the near future, making it possible to search by the name of town when you’re already in another location. Stay tuned.

 

Locations map
Once you’ve been diligently noting your locations with the expenses for a while, a nice map of your spending activities will start drawing out in the locations section. Click on one of the dots and the details for that location will show up.
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If you’ve been spending at a single location multiple times, these entries will be summed up on the location. Now you can finally know how much your crush on that cute waiter or waitress has been costing you.

 

Filtering locations and filtering by locations
The locations map, like all the data in Toshl, depends on the filtering options that you have set up. By default the map will display all the locations in your current financial month. Need to see where you’ve been spending all the time that you’ve been using Toshl? Set the time span to all time. Voila, all your stops, on one handy map.

In the web app you can also filter by tag or category, not just the time or accounts.
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What about the sum for the entire franchise?
While this approach is great for tallying up spending at an individual venue, it comes a bit short if you would like to tally up all your spending at an entire franchise, not just a single venue. For example, to know how much have you spent at all the E. Leclerc stores, not just the one in Ljubljana. If you need that information, you can still add a tag with the franchise title to each such expense and all your expenses at that franchise will be summed up using the tag. There is something to be said about places that are unique, though. ;)

Posted in iOS Tutorials, Tips & Tricks, Tutorials