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Everyone will have some income and expenses, or as they are known in accounting, cashflows, this is how modern financial world works. It is important to keep track of yours for any constructive future planning and forecasting. You can easily track both on our cashflows page.
You can record any number of cashflows. Rental income, salary, pensions, income from royalties, dividends from shares, regular gifts from friends and family – all can go here.
Some types of incomes or expenses are limited in time. For example, your pension only kicks in when you are 65, or you will definitely stop drawing salary at the age of 50, your regular savings plan will stop after 10 years and so on. So, when creating a new cashflow, you can set “Active from” and “Active to” dates on it.
Some types of assets will generate cashflows automatically. Savings accounts with specified interest rates will be a source of income, while loans, mortgages will produce expenses. Such automatic cashflows are clearly separated from the manual ones you add yourself. You cannot edit them directly either, but you can always modify the underlying asset to adjust the cashflow.