Category: iOS Tutorials

How to Add and Track Expenses, Incomes and Transfers (iOS)

Effectively managing your personal finances begins by keeping a good overview over your financial flows. That is why adding incomes and expenses into your Toshl app was made simple. We surely wouldn’t want you to be wasting your time, that’s something even money can’t buy.

This tutorial is for adding entries to financial accounts that you track manually. If you use connected financial accounts with Toshl Medici, the entries will fly in automatically as they show up on your bank / financial service.

For a basic expense all you need to do is: enter the amount, select a category and click save. All done.

Toshl also enables you to add richer data, automate the entries or get reminded about them. There are quite a few useful tricks along the way. Let’s take a more detailed look on how to add incomes, expenses and transfers in the Toshl app on iOS.

 

1. Add a new expense or income

Starting the Toshl app will bring up the Expenses screen. Tap the large red “+” in the bottom left corner for a new entry.

To enter an income, open the main menu by tapping the main menu button in the top left former and navigate to Incomes. Alternatively you can also swipe from anywhere along the left edge of the screen toward right. This will open the main navigation menu.

After selecting the Incomes option, tap the large green “+” to record a new entry.

There is another quick way to add a new entry: drag the “+” button across the screen up and to the right, to open a new expense, income or transfer window, depending on where you release it. Read more about this useful trick here.

 

Your Toshl app will normally open up on the Expenses screen, but you can change that at any time by going into “Settings” and selecting “Open app on” option.

Remember, after selecting a new entry for either an income or expense, both procedures follow the same steps and include the same options. Here, we will present an example for entering a new expense.

 

 

2. Adding an expense

2.1 The amount

Tap the “+” button in the bottom left corner and a new screen will pop up. You can then enter the amount of the expense and confirm it by tapping “>” in the top right or bottom right corner.

Use a decimal separator when necessary. It is either a point or a comma. Which one is used in the forms and displays of sums inside Toshl depends on the regional settings of your mobile device.

 

2.2 Currencies

Make sure to use the correct currency. Tapping the currency symbol, for example the $ or € sign‚ will open a list of all the currencies available in Toshl, including their suggested exchange rates.

The currency catalogue includes a search field right on top, so you do not have to scroll through the whole list to get to the right one.

5 currencies that you have used most recently will be placed on the top of the list for easier selection. If you have used any custom exchange rates, the custom exchange rate will be saved in the “recently used” section as well. If you would prefer to use the automatically updated suggested exchange rate, select the currency from the alphabetical part of the list.

Selecting the red “i” icon next to the currency on the list brings up a convenient currency converter, where you can quickly check if you’ve brought enough Venezuelan bolívars (the black market edition) to pay for a scoop of ice cream.

For the well-being of your pockets we hope you aren’t carrying coins.

 

Whichever currency was used with your last expense will remain set for further entries until changed to another.

 

2.3 Expense calculator

The expense screen includes two additional features to help you figure out the exact amount you need to store. Tapping the “Σ” (greek letter sigma) adds four basic mathematical operations to your entry form: addition, subtraction, multiplication and division.

2.4 Percentage calculator

Similarly, the “%” button brings up an option to add or deduct a certain percentage to or from your amount. Perfect for when you are, for example, deciding on a tip for a great service in a bar or a restaurant.

After entering the correct amount, whether you’ve modified it with a calculator or not, simply confirm it with the “>” button.

 

2.5 Categories

In the next step, select a category for your expense. Assigning a category is required with each entry.

Swipe right to browse through more categories, or swipe left (onto the magnifying glass icon) to seach among them by entering a letter or two of the category’s name into the text field.

While preset categories cover most types of expenses and incomes, you can always add your own. Simply tap the “+” icon on the right side of the Category tab, type in the title of your new category, and confirm.

This new category will be stored after saving this entry and can be used with your future entries. Begin typing its name into the search window and it will be brought up automatically. This works for tags as well.

 

You can edit, remove or merge the categories by accessing your Toshl account through the Web app, and modify them according to your needs. For further information check the Edit Categories and Tags guide.

 

At this point your expense is ready to be saved since all the required information – the amount, category, account and date – has already been entered or pre-set. For a more detailed record of your personal finances you can continue with your entry and supply additional information.

 

2.6 Tags

It is possible to assign multiple tags to your incomes or expenses. Use tags such as “groceries”, “restaurant”, “parking” and others to add further details to your financial data.

Just like with categories, it is possible to swipe left or right to browse through the stored tags, or swipe onto the magnifying glass icon (far left) to seach among them by name.

Using the “+” option on the right side of the Tags tab gives you an option to enter your own tag, which is then stored and can be used with future entries.

 

Once a category is selected, the tags are arranged automatically based on your choice. Tags that were sorted into the category you selected will be displayed first (for example: the category “Food & Drinks” brings up the tags “groceries”, “soft drinks”, “restaurants”, etc.), followed by all the rest. You can still use any tag with any category, but this step makes it easier to find the correct one.

The second sorting criteria is your frequency of use – most commonly used tags will eventually be brought up to the front of the list.

You can modify and manually assign tags to specific categories at any time through the Toshl Web app. Consult the Edit Categories and Tags guide for more details.

 

2.7 Accounts

Set the financial account this expense was made with. The payment method in other words. This might be your credit card, bank account, a financial service like PayPal or simply cash. Toshl can help you track the balance of incomes and expenses on each of the accounts.

When you sign up on Toshl, the Cash account is added automatically, but you can always add others. Check your accounts by tapping in the upper right corner of the screen when not adding an expense. You’ll see an indicator of the time span and accounts you’re currently observing …

… or swipe from anywhere on the rightmost edge of the screen toward left to access the accounts and time span sidebar.

… to display the list of your financial accounts.

To add a new account, tap “Edit” in the bottom right corner …

… and tap the option “Add account.

2.8 Date

The date of the expense is automatically set to the present day when viewing the current month. You can of course change it by tapping on the Date tab. From there, select either the “Custom option or use the convenient shortcut to assign the yesterday’s date.

For a custom date, pick your specific day, month and year.

 

3. Advanced options

Icons on the bottom of the entry window, just below the date, represent the options for additional information and automation:

While the location and description entry is available to all Toshl users, adding repeats, reminders and photos becomes available with the upgrade to Toshl Pro or Toshl Medici.

 

 

4. Save your entry

To save your expense, simply confirm by tapping the tick button on the bottom of the screen or the top right corner. It will instantly appear in the expense list, graphs and sums.

 

5. Edit or delete an entry

After you have saved your expense, it will appear on the Expenses list inside the Toshl app. Tapping on an entry will display the expense details. Here, you can review the information of your entry and edit or delete it by selecting the appropriate option from the screen.

 

6. Transfers

Besides incomes and expenses you can also record a money transfer between two financial accounts. This option is available from the accounts and time span sidebar (mentioned in the section 2.4), which is accessible by clicking on the indicator of time span and accounts in the upper right corner or by swiping from the rightmost edge of the screen.

The “Add transfer” button is at the bottom of the screen.

Alternatively, you can also also drag the “+” button across the screen and release it near the right edge, when the icon turns grey, indicating a new transfer.

Entering the amount for a transfer works the same as with other inputs, except that the next step requires you to select two accounts. The first one is the source, and the second one the destination account.

Let’s say that you use your credit card to withdraw cash at an ATM. That withdrawal should be noted in Toshl as a transfer from the credit card account to cash account.

This time there are no categories or tags. Additional options include Description, Repeats and Reminders.

Confirm your transfer when ready. It will be shown under both incomes and expenses if all financial accounts are set to be displayed, and marked with a special transfer icon with two arrows. All transfers can be viewed, edited or deleted just like incomes and expenses.

If you filter the accounts to a single one, the transfer is displayed either in the expense or income list, based on whether it’s an outgoing or incoming transfer, relative to that financial account.

 

Related articles:

Toshl monsters are here to help you stay on top of your bills, budgets, loans, incomes and transfers. As easy as riding a bike.

 

 

Posted in iOS Tutorials, Tutorials

Track Credit Cards on Toshl

Credit card spending can quickly get out of hand, so it’s good to keep track of how much you spend and when that credit card bill is due.
If your credit card or bank account is one of those supported for syncing in Toshl Medici (log in required), this can be done automatically and the expenses and balances will just fly in.
If you track you finances by adding your expenses to Toshl yourself, here’s how to best track your credit cards:

1. Add all your credit cards as separate financial accounts

More info on how to add accounts is available here.

2. Add your credit card spending during the month

Add expenses made with your credit cards on the day you pay for them. Just make sure that the credit card account is selected correctly.

3. As you spend, the credit card account balances will become negative

That’s how you’ll know how much the credit card bill will cost you when it comes. You can see these balances in the account list on the right.
In the mobile apps, swipe from the right to open the account list.
On the web app, click the accounts/filtering button on the top right of the screen.

4. When the credit card bill comes, make a transfer from your bank account

The transfer should be from the bank account from which you pay your credit card bill. The transfer destination account is the account of the credit card you’re paying off.
This transfer will cover the negative balance of the credit card account, so you can start the new month fresh.
If you don’t have any outstanding credit card debt and haven’t made purchases since the credit card billing period concluded, the account balance should be 0.

 

5. Set the transfer from your bank to your credit card to repeat automatically

Usually the transfer will repeat each month, on the day that you get the credit card bill.
For the transfer amount, you can set an approximate amount you expect for the credit card bill and then edit it to a more exact one when the bill comes.
Reminders will also be set by default when you make the transfer repeat automatically. One a day before the bill is due and one on the day. You can customize the reminder timing.
That way, you’ll be notified before and on the day when your credit card bill is due.
Once you have this set up, you can simply enter the exact amount on the transfer each month and the credit card balance will provide some much needed clarity.
To get warned about your spending tempo beforehand, consider setting up a budget. You can also set it to track just selected accounts, like your credit card.
Adding more than 2 financial accounts and automatically repeating entries require Toshl Pro. Automatic syncing with banks and credit cards is available with Toshl Medici.
Toshl monsters can be a bit old school. They still prefer cash briefcases to credit cards.
Posted in Android Tutorials, iOS Tutorials, Tutorials, Web App Tutorials

Hint: Zero-in on a location. All you need is a comma.

A new feature gradually appeared in the Toshl Finance apps in the recent months. Wondering if you’ve noticed it already?

 

Let’s say you’re adding a location to your expense or income, but are already far away from the place where the purchase happened. Normally, Toshl suggests closest places around you. When you search, it will also search for venues in an about 30 kilometre radius. That can be quite useless when already further away.

 

That’s why you can now specify the town or city where the expense took place. Simply type-in the name of the venue you’re looking for, add a comma (,) and add the town or city where the venue is.

 

For example, let’s look for a pub called “Godec” in Ljubljana*, the capital of Slovenia.

Search for: “Godec, Ljubljana”

 

location searching with town / city parameter

expense with foursquare location selected

 

There you go. Your beers can now be properly attributed to your purveyor of choice, even if you’ve only thought of noting it in Toshl the next day.

 

*Yeah, Ljubljana is actually spelled that way. Pronunciation isn’t that difficult though, just go with: “Loo-blah-nah”, like most locals do.

Posted in Android Tutorials, Announcements, iOS Tutorials, Tutorials, Web App Tutorials

Two-Factor Authentication and How to Use It

What is two-factor authentication?

Two-factor authentication is an extra layer of security for accessing your Toshl user account. You would normally log in to Toshl with your email and password, or using the Facebook and Google log in options. That’s the first authentication factor.

When you activate two-factor authentication, Toshl will ask you for another code before you can log in. That authentication code is a 6-digit number, which you get from a special app on your phone or computer.

The authentication code is generated automatically according to an algorithm. Unlike your password, the authentication code changes every 30 seconds. That means you’ll always need the authentication app on your phone present to log in.2-factor authentication Toshl web app

 

 

Why is two-factor authentication important?

It makes it much harder for someone to gain unauthorized access to your account. While protecting your account with a good password is usually enough, there can be circumstances where such an extra security barrier is very useful.

For example, if you used the same password on another service which gets hacked, the details can leak revealing your password. Perhaps someone can guess your password or gain access to your Facebook or Google account. In such cases, someone could try logging in with that password to Toshl as well.

If you have two-factor authentication enabled and set up on your phone, they would also need physical access to your unlocked phone to be able to log in, which would likely prevent them from accessing your Toshl account.

While two-factor authentication provides an important extra layer of security, it’s still important to take basic security precautions:

  • Use hard to guess passwords, which are also long enough to be difficult to guess with automatic attempts.
  • Do not use the same password on several services.
  • Always log out of Toshl when using it on devices used by multiple people, or on devices which you leave unlocked.
  • Lock your devices with a code/password.

Toshl monster with a number and shut mouth

 

 

How do I set up two-factor authentication?

  1. Go to toshl.com and Log in.
  2. Go to user settings (Me) in the main menu and turn ON the option Two-factor authentication.

  1. A wizard will open, guiding you through the process.
  2. Download an authentication app on your phone.
  3. Add a new code in that app by scanning the QR code on your screen.
  4. Download the file with recovery codes. This is important. In case you lose your phone, these codes will enable you to log in. Save them in a safe place.

text file recovery codes download icon

  1. Type in the newly generated code to Toshl to confirm all is working well and finish activating two-factor authentication.
  2. Great success! Much rejoicing. 2-factor authentication is now active whenever you log in.

great success bathing suit monster

 

 

What are these authentication apps? Which ones can I use with Toshl?

This kind of two-factor authentication follows a common standard, so there are a whole bunch of apps which can help you with generating these authentication codes, once you set it up like described above.

Below are some popular authentication apps that we found useful. You can use others as well, just make sure you pick one from a trustworthy developer.

Google Authenticator (Android, iOS)

Microsoft Authenticator (Android, iOS, Windows Phone)

Authy (Android, iOS)

 

Password managers with support for two-factor authentication codes

1Password

LastPass

 

Do I have to enter this every time? Which Toshl apps demand the extra code?

You have to enter the code every time you log in, provided you were logged out before.

The web app will require the extra code whenever you log in anew. If you check the “Remember me” option when logging in, Toshl won’t request the two-factor code until the next time you Log out, or the session expires. So if you log in using “Remember me” then just close the browser without logging out, you likely don’t need to enter it again the next time you open toshl.com.

The mobile app will also require the extra code whenever you log in anew. So you just enter the two-factor code the first time you log into the app, then your log in is remembered unless you log out in user settings (Me) of the mobile app.

If you re-install the app or log out, you will need to enter it again.

two-factor authentication on the Toshl Finance Android app

It’s a good idea to lock the Toshl app with a passcode or fingerprint as well as your entire phone.

 

What if I lose my phone or accidentally delete the authentication app?

Try not to (?‍✈️ salute to Captain Obvious). If you do, you can log in using the recovery codes you saved during the set up process.

It’s very important to save the recovery codes and store them in a safe place. Save them on your computer, external drive or even print them out, if you’re more certain you’ll find them that way later on.

Recover code 2 factor authentication Toshl web app

 

When Toshl asks you for the authentication code, click the option to log in using recovery codes. Enter it and log in. Each code can only be used once, so you have 10 log-ins with the codes available altogether.

If you permanently lost your phone or deleted the authentication app, go to user settings (Me), deactivate the two-factor authentication, then set it up again using the new device/app.

 

Why not send authentication codes via SMS?

We realize that’s what a lot of other services do, but that way is less secure. It depends on your mobile phone service provider, but in lots of cases it didn’t take much social engineering for dedicated hackers to convince them to transfer the phone number to another SIM card. That way, your authentication codes could be intercepted without you even knowing. There have been cases of this happening in the past.

 

 

monster with a safe

Posted in Android Tutorials, iOS Tutorials, Tips & Tricks, Tutorials, Web App Tutorials

How to Track Loans, Repay Debts and Deal with Your Friendly Neighbourhood Loanshark (iOS)

Toshl_2.0_monster_0057_58We have almost certainly all been there at some point – borrowing money, launder loaning money, forgetting about loans, etc. Be it a small amount for drinks, because you forgot your wallet, or a bigger sum because you chose to buy something expensive that you obviously really, really, really needed.

So, how to go about tracking and dealing with the dynamics of loaning and borrowing money? Fear not, for Toshl is here for you again, not in the money loaning business though, but in the business of helping to track loans and debts – or simply Hilfespurverleihenborgengeschäft, as the Germans would put it.

 

Track major debt repayments

Let’s say I want to buy a new Ferarri for $3200, but I am just $3100 short for it. What do I do? I go to a guy* I heard you can get a loan from, that hangs out behind the parking garage in the shady part of town every other night (because he has kids). I ask him for a donation towards my cause and after a few laughs, I promise I would pay him back in ten months with $1900 interest. I get the money, and now I have to settle the $5000 debt in ten months, which makes for $500 per month. Because I use Toshl, the best loan app around, I know this will be a piece of cake and I will not get my legs broken in the process.

 

1. Add income marking the received loan

I put the $3100 in Toshl as an income, category ‘Loans’, account ‘Cash’, plus I put ‘Drago’ in the description – which is supposedly the guy’s name and also means ‘expensive’ in some languages. Just so I can be precise when I tell my grandchildren about my first Ferrari.ios_inc1

Ok, we got the money, we got the income from the loan marked, now to go about tracking the debt.

 

2. Add a new account to track the repayment of debt

I make a new account for the debt, called ‘Drago’ and set up the initial balance as ‘-$5000’ which is the total amount of the debt, including the interest.
ios_adacios_acclist

 

3. Add transfers to note the debt repayments

To note the repayments as I return the money to Drago in monthly instalments, I make a transfer of $500 from account ‘Cash’ to account ‘Drago’, date it on the day of the first payment, set it up to repeat every month for ten months and set up reminders for it. Now I will be reminded to take the $500 to him every month, and the ‘Drago’ account will get out of red numbers over the ten months.ios_adtr

ios_not

That’s it!

 

Track smaller loans to friends

Let’s take a look at another, simpler case. Let’s say I lend $4.99 to a fellow car enthusiast for a little 1:100 plastic Ferrari model.

 

1. Note the loan as an expense

I give him the money, put it in Toshl as expense, category ‘Loans’, account ‘Cash’.

If this is a one-off loan, I can put the guy’s name in description. If I lend to this guy often, I could also put his name in a new tag on the expense. That way I can easily sum up everything he owes me.ios_adex

 

2. Note the loan repayment as an income

When he pays me back after seven and a half months, I just enter it as an income with appropriate tags, etc. This way I can always track borrowing and loaning entries.

Alternatively, I could just erase the loan expense, but that wouldn’t give me any insight on the loan later on.

ios_inc2

Bob’s your uncle! Use whichever method works best for you or be creative and invent your own system. That’s it for now from our secret volcano base, ta ta!

*Toshl does not recommend taking loans from random guys behind the parking garage, nor can we provide phone numbers of any specific guys providing such loans. A bank would probably still be a better bet, although their moral compasses might not be in much better shape, compared to the guy behind the parking garage.
Posted in Debt, iOS Tutorials, Personal finance, Tips & Tricks, Tutorials