Category: Web App Tutorials

Organize Bills and Salary by Repeating Entries Automatically (Web App)

Certain things tend to repeat themselves. Some are pleasant, like spring or holidays. Others, for instance utility bills and car payments, are more of a necessary evil.

Use the repeat option in the Toshl app to keep track of your reccurring expenses. You can set the interval so that the expenses repeat daily, weekly, monthly, or whenever you decide. Remember that adding extra information to either incomes or expenses is done in the same way. We will present an example for an expense, but you would edit an income following the same steps.

The option to repeat expenses, incomes and transfers automatically becomes available with Toshl Pro or Toshl Medici subscriptions.

Repeating entries are appropriate for use on financial accounts you otherwise track manually. Accounts that are connected to your bank, will add the entries automatically as they come in, so such repeating settings are not necessary there.

 

1. Selecting the Repeats tab

After adding the basic expense information, click “Show more” under the “Save” button to display the additional options.

The option to automatically repeat the entries is marked with an icon featuring the letter R in an arrowed circle.

 

2. Repeat options

 

2.1 Repeat intervals

The expense can be repeated:

  • daily
  • weekly
  • monthly
  • yearly
  • on weekdays
  • on weekends
  • in a custom interval.

Click on the Repeat option and select a suitable interval from the menu.

 

The “Custom repeat” option allows you to set a repeat with an uncommon interval. For instance, you could use it to record your expense that would be paid in 10 instalments (partial payments) every other week. In that case you would set the custom repeat to 2 weeks, and end repeating after 10 times.

2.2 Ending the repeats

The repeats can go on forever until you stop them, stop after a certain date, or stop after a set number of repetitions. Select an option from the menu.

 

Selecting the repeating to stop after a certain date brings up a calendar.

The date picker functions in the same way as when you are selecting a date for your expense. That includes all the shortcuts, like clicking on a month label to bring up a quicker month selection …

… and clicking on the year label to display a year selection.

 

Date format can be adjusted in Settings, under the General tab. Check the Regional Settings tutorial for more information.

 

For a set number of repetitions simply enter a one or two digit number. The date of the final repeat will be displayed on the screen. Also, your first expense is included in the repeat count.

 

3. Automatic reminders

The weekly, monthly and yearly repeats, as well as the custom repeats (except custom daily repeats) will automatically set two reminders to notify you of an upcoming expense.

The first reminder is set on a day before the expense, and a second one on the day the expense is due. You can modify the reminders according to your needs, or cancel them altogether.

 

 

4. Managing repeating expenses

Entries that repeat automatically are marked with an “R” icon on your list of expenses. The set interval and a possible alert for the payment are included in their details.

4.1 Edit repeating expenses

You are able to edit, duplicate or delete such expenses in the same way as all other entries. However, you do have to specify if you wish to apply changes to only the expense you are editing, to all the repetitions of this expense, or just the expenses that are planned for the future.

A dialogue with these options also appears whenever you attempt to delete an entry with a set reminder.

After a repeating expense has been created, it is not possible to edit the overall repeat setting – with the exception of setting it to “Never” and cancelling the repetitions. For example, if an expense was set to repeat on the 10th every month, it cannot be changed to repeat on the 15th, or for instance switched from a monthly to a weekly repeat.

The date can be edited only for an individual expense inside the repeat frame, but the repeating for the expense will continue the way it was set initially.

 

4.2 Cancel repeating expenses

To permanently change the pattern of a recurring expense, you have to stop the expense from repeating and enter a new one with new repeating dates.

There are two ways of ending an existing repeat:

  • edit the repeating expense on the date from when you’d like it to stop, and change the repeat setting to “Never”,

or

  • edit the repeating expense by adjusting the date for “Stop repeating after”, and apply changes to “Expenses from now on”.

When modifying or deleting the entries with repeats, make sure not to delete all the repetitions of an expense, if you wish to keep the past entries in your record of expenses.

 

 

5. Examples for using repeats

 

5.1 Example: salary – repeating income

The most clear-cut example of a repeating income is the monthly salary. Let’s record a regular income of 1400 €, in a category “Salary”, for the financial account “General”. The event will be repeated monthly on the 15th, with a reminder on the day it’s due.

That is all you have to do to have your income automatically recorded and repeated. Simple.

 

5.2 Example: subscriptions – repeating expense

Another good example for the use of repeats are the subscription services. Let’s check the recurring expenses for a media streaming subscription for 7.99 € on the 12th each month, file hosting for 9.99 € on the 10th, and, most importantly, a monthly delivery of socks for 12.02 € on the 21st. These amonts will be billed on the credit card (be careful when selecting the appropriate financial account).

We will record them all under a category “Subscriptions” to further simplify the overview of our expenses later on. This way, they will all be listed together in the main expenses’ list.

 

5.3 Example: repeated transfers into a savings account

Repeats can also come in handy when managing your savings account.

Open up a new transfer tab (click on the “All accounts” tab in the upper right corner and select “Add transfer” option), enter the amount as well as the “Source” and “Destination” accounts – in our case that’s “General” and “Savings”. Proceed with the date, an optional description, the repeat setting, and a reminder.

This way the Toshl app will remind you each month, on the 16th, that 300 € is waiting to be transfered from your general financial account into savings.

 

5.4 Example: paying off debt in instalments – repeating expense

Let’s say that you bought a 750 € custom paint job for your car, as one of those impulse purchases. No reason to worry, here’s how you can quickly split your expense into, for instance, 3 instalments with a custom repeat every 3 weeks, for a total of 3 repeats for 250 € each.

Other great examples to use repeats with your incomes and expenses in Toshl include tracking of utility bills, rent, taxes, insurance, and many more.

 

 

6. In conclusion

 

With such versatile options, why not take advantage of the repeating entry function and include it into your monitoring of personal finances. A brief moment to consider possible patterns in your financial flows now could save you loads of time later on.

For additional information and, perhaps, inspiration on how you might be able to use repeats with your financial tracking, follow this link to learn more about tracking of loans, repaying debt, and shady loansharks.

 

Related articles:

 

Posted in Tutorials, Web App Tutorials

How to Add and Track Expenses, Incomes and Transfers (Web App)

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 and expenses in the Toshl web app.

 

 

1. Add a new expense or income

Both options are located in the menu on the left side of the screen. Navigate to either one and click the large “+” button in the bottom right corner for a new entry; a red one for expenses and a green one for incomes.

Remember, after selecting either the income or expense, both 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

Click the “+” button in the bottom right corner and a new window will pop up. You can then enter the amount of the expense.

Use a decimal separator when necessary. Decimal separator is either a point or a comma. You can use either. Which one is used primarily in the forms and with the display of sums in Toshl depends on your regional formatting setting. Check the Regional Settings guide for more details.

 

Make sure to use the correct currency. Clicking the currency symbol, for example the $ or € sign‚ will open a menu with all the currencies available in Toshl. Whichever currency you used when saving the last expense will remain the default currency until you change it back.

 

It is possible to quickly switch between adding an income, expense or a transfer between accounts by using the shortcut on the top edge of the window. Simply select the option you need.

 

2.2 Categories

Click in the Category field to display and select one of the categories. Assigning a category is required for every entry.

While preset categories cover most types of expenses and incomes, you can always add your own and edit them according to your needs. Simply type in the title of your new category and confirm it by pressing Enter.

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

For further information check the Edit Categories and Tags guide.

 

At this point, you can already save your expense since all the required information – the amount, category, account and date – has already been entered or pre-set. You can also add additional details to your entry.

 

2.3 Tags

You also have an option to assign multiple tags to your entry. Use a tag like “groceries”, “restaurant”, “parking” and others to add further details to your entry.

Just like with categories, you can always add your own tag by typing it into the window and confirming the input with the Enter key. Unlike the categories which are limited to one per entry, multiple tags can be assigned to each income or expense. 

Once a category is selected, the tags are sorted automatically based on your category selection. Tags that were sorted into the category you selected will be displayed first, followed by all the rest. You can still use any tag with any category, but this will make 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. Consult the Edit Categories and Tags guide for more details.

 

2.4 Accounts

This option is displayed only if you use more than one financial account. In that case you will be given the option to specify an account for your expense.

When you sign up with Toshl, a Cash account is added automatically, but you can always add more. Check your accounts by clicking the “Accounts” button on the top right in the web app, or read more about adding financial accounts.

 

2.5 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 clicking on the set date and selecting a different one from the calendar. Any entries set in the future will be grouped as “planned” and displayed on top of the expense list.

Clicking on a month label brings up a quicker month selection.

Clicking on the year label displays a quicker year selection.

The date format can be adjusted in Settings, under the General tab. Check the Regional Settings tutorial for more information.

It is not possible to set the date picker to display Sunday as the first day of the week, it will always start on Monday.

 

 

3. Advanced options

Clicking the “Show more” bar on the bottom of the entry window displays 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 the entry

To save, simply click the Save button to confirm and the expense will appear in the expense lists, graphs and other sums.

 

5. Edit, duplicate or delete an entry

After you have saved your expense, it will appear on the Expenses list inside the Toshl web app. Clicking on an entry will open the expense details tab on the right side of your screen. Here, you can review the details of your entry or edit, duplicate and delete it by choosing the appropriate option from the screen.

When you wish to store an expense that’s similar to a previous one, you can save yourself a few clicks by using a duplicate. Selecting this option will re-open the expense window with all the details. There you will be able to make all the modifications, for example change the amount, category or date, and save it as a new expense.

 

 

6. Transfers

Besides incomes and expenses you can also record a money transfer between two financial accounts. This option is accessible from a quick menu on the top upper edge of a new expense window (shown in section 2.1) or from the Accounts menu (described in section 2.4 a few paragraphs above).

After selecting the “Add transfer” option you are presented with a similar form as before, except that now you have 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 at an ATM to withdraw cash. That withdrawal should be noted in Toshl as a transfer from the credit card account to cash.

Entry fields function the same as before, except that there are no categories or tags. Additional options under “Show more” include Description, Repeats and Reminders.

When ready, confirm your transfer by clicking “Save”. Your transfer is now shown under both incomes and expenses if all financial accounts are set to display and marked with a special transfer icon with two arrows. 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.

Any transfer can be viewed, edited or duplicated just like incomes and expenses.

 

Related articles:

Toshl monsters love nothing more than to help you keep track of your personal finances. And huge lollipops, yep, definitely love those.

 

Posted in Tutorials, Web App Tutorials

Add Venues and Locations to Your Expense Tracking (Web App)

The more information you keep on your earning and spending habits, the easier it is to take control of your personal finances. In the following paragraphs we will take a closer look on how to record where exactly your spending takes place.

Remember, adding extra information to either incomes or expenses is done in the same way. We’ll show you how to do this for an expense, but you would add location information to an income in an identical fashion.

 

1. Selecting the Location tab

After you have entered the amount for your expense and selected a category, click the “Show more” button on the bottom of the expense window.

Location option is the first optional feature in the extended view.

 

2. Entering the location details

Select the newly shown tab to receive a list of suggestions on your current location. This list depends on the location information that your web browser can obtain at the time. By default you will see the venues in your vicinity. If the location you’re searching for isn’t on the list, or if you are recording a past expense, enter it manually.

Let’s say that, for example, you bought a pair of running shoes. You can enter the store’s name and the app will provide a list of options. Another option is to enter the name of the venue, add a comma (,), and type in the town or city where the expense took place. Check this guide on the use of a comma with locations.

 

3. Reviewing locations

The Locations tab in the main menu displays a map with all the recorded expenses with stored locations. Clicking on a mark on the map brings up a bubble with the amount that was spent there.

From here you can review the expenses in detail just like in the main Expenses menu. Select an expense from the list to see additional information, as well as the exact location on a mini map.

If you wish to learn more about using locations with your incomes and expenses in the Toshl app, check our Location, Location, Location! guide.

 

 

Related articles:

 

Posted in Tutorials, Web App Tutorials

How to Set Reminders for Upcoming Bills, Incomes and Make Sure You Pay Them (Web App)

Considering all the responsibilities and information we have to juggle with every day, it’s no wonder that sometimes things slip our minds. Set reminders in your Toshl app to receive notifications about the expenses, incomes and transfers that will require your attention in the future, and keep those financial plans in check.

Setting up reminders with your incomes, expenses or transfers is done in the same way. We’ll review how to do it for an expense, but you would set up a reminder for other types of entries by following the same steps.

The option to set reminders becomes available with Toshl Pro or Toshl Medici subscriptions.

 

There’s no horsing around when it comes to unicorn expenses.

 

 

1. Selecting the Reminder feature

Let’s say that we have borrowed 50 € from a friend and we want to pay him back on April 6th. Because we have good manners, we will set ourselves a reminder, just to make sure that our debt gets paid on time.

After entering the amount, selecting a category and an account (we’ll pay cash) as well as the date, we click the “Show more” button on the bottom of the expense window to revel additional optional features.

 

2. Setting up reminders

Selecting the Reminder tab opens up the menu with options:

  • 1 day before
  • On the day it’s due
  • Custom reminder
  • Never

With first two selections the reminder is by default set for 11am, and a custom option allows for a more specific time period. With it you can set exactly how many days, weeks, months or years before the expense is due you wish to receive a reminder, and precisely at what time.

It is possible to save 5 different reminders for each entry, with all the options turned on at once.

 

3. Reminder notifications

Reminders are displayed in the “Monthly overview” page of your Toshl app.

Highlighting the notification brings up an option to mark the expense as paid.

Notifications can be turned ON/OFF altogether in Settings – Notifications. In the menu you can enable for the notifications to also arrive by email, for those instances when an in-app notification catches you at a bad time and you have to quickly dismiss it. This way you will always stay on track with the upcoming bills and incomes.

The in-app notifications are simultaneously triggered in the Toshl web app as well as on your mobile devices where you’re keeping Toshl installed.

 

 

4. Reviewing entries with reminders

The entries that include reminders will be diplayed on the overall list with a little bell icon.

The reminder information is also listed in the Expense details view. The setting itself can be edited at any time, in the same way as all the other specifications for your entries.

 

5. Reminders and repeats

Reminders are automatically set for most of the automatically repeating entries. The weekly, monthly and yearly repeats, as well as the custom repeats (except custom daily repeats) will automatically set two reminders to notify you of an upcoming expense:

  • for 1 day before
  • on the day the expense is due.

Such events are once again listed with the bell icon, and also with the “R” icon that signifies repeats.

 

6. Paid / Unpaid function

When a reminder is active for an expense that’s due to be paid, a red dot appears in the entry details tab. The dot turns green when you mark the expense as paid.

The paid / unpaid status is shown only for your reference and it does not affect account balances and others sums. All entries up to the current date get registered in balances of financial accounts, regardless of the expense’s status and whether it has already been paid or not.

With incomes, the function is marked as “Received / Unreceived”, but otherwise works in the same way.

 

7. Daily reminder

A daily reminder to enter expenses is an option, available in the general Settings menu.

Here you can set an exact time when you’d like to be reminded – gently – to record your expenses for the day.

 

Whether it is regular expenses like utility bills and subscription services, unplanned short-term loans, or monthly transfers into your savings account, it is always better to be prepared than taken by surprised.

Make good use of bill reminders in Toshl web app for an even better control over your personal finances.

 

Related articles:

Toshl monsters use reminders for that first morning cup of coffee. They never forget about the other 45 cups over the course of the day, either.

 

Posted in Tutorials, Web App 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