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Why a new personal finance app?

The main issue in personal finance management is to close the gap between bank statements and what really happened. For example:

• You have paid for someone, therefore the amount is not correct
• You have received money from friends for a birthday fund and you are in charge of buying the present
• You have used another banking app to pay something, and you can only see on your statement amounts going to this app without any differenciation
• You borrowed money from someone and need to return it in several months

All those exceptions make your bank statement un-readable, and this why we created a more flexible system to track your finance. Let’s learn how to use this tool to manage your personal finance.

Learn the Banqr model

Banqr features multiple ressources that you can create, edit or delete. It is important to understand the purpose of each one and how to use them.

Activities

Activities describe something that happens with your money. It can be spending money at a restaurant, earning money from your salary, investing money into stock options, …

Activities are different from bank account movements. You can have multiple movements for one activity, or split a movement between multiple activities. This allows you to jungle between multiple accounts and multiple usages of your money.

An activity has several properties like a title, a description, a date, an amount, a type (expense, revenue, investment or neutral) and a categorization.

Transactions

Transactions are a important part of the reconciliation system. They describe a money transfer between two accounts inside an activity.

Those accounts represent bank accounts, investment accounts, … but also cash, liabilities (people or organizations to which you owe or is owing you money) and revenues and expenses.

By indicating how the money is moving, we can check the amount of the activity and require some movements to be added as well.

Movements

Movements are one-way money transfer to or from accounts you own, like your bank account, investment account or maybe some liability system (a credit interface for example). You can import those movements into Banqr and link them to activities to check that nothing has been forgotten along the way.

Inside an activity, the reconciliation system will check that the amount described in the transactions match the sum of the movements linked.

How to create an activity

To create an activity, head to the menu on the left and click on the New activity button. Fill then the properties needed: a title, a date, an amount and a type. You can optionally fill a category and a subcategory.

Reconciliation

To explain how the money moved inside this activity, you can create a transaction by clicking on the plus button in the Transactions section. You can add as much transactions as needed.

The reconciliation engine will tell you something is off if the activity amount does not match what your transactions are describing.

Transactions will also generate a need for movements. You can create them in the Movements tab by clicking on the Add movement button or by importing them via CSV directly from your bank account for example.

Once your activity is reconciliated, you can create another one! You can also create activities directly from Movements by clicking on a movement that is not currently linked to any activity.

When all your movements are reconciliated as well, you can analyse your financial data through Periods.