This brief introduction is meant to make you familiar with the main principles of iBearMoney.
iBearMoney application helps you to manage your personal finances entirely. Not just record your expenses, not just view your accounts, and not only plan your personal budget, but it gives you a full vision of what you have and where your finances go. We believe that your ability to manage your entire finances with the application makes us different from other financial apps.
There are 4 main sections in the app: Transactions, Balance, Budget and Reports.
1) In the Transactions tab you record your actual transactions, which happen every day. Those are: your shopping expenses, purchases, salary, money transfers, etc. As you can see, they are not limited to expenses only, but help you to count everything that relates to your finances.
2) In the Balance tab you write down different monetary and even none-monetary sources that you have. For example, where you keep your money? You keep it in cash, on bank accounts, on credit and debit cards, etc. These are different wallets or accounts that you have. List them all there, and indicate how much money you have on each account. Whenever you write down any instance of expense or income, you indicate the amount, and the ‘wallet’, where you ‘take your money from to pay the expense’ or ‘where you put your money if this is income’. Just like in real life.
So you need to start working with Money by filling out this section.
3) In the Budget tab you can plan what you expect to have in the future for your finances. The Budget section is an advanced section. Plan your income and expenses in advance. Then whenever you add actual instances of income and expenses (i.e. actual transactions), they will show in the Budget section, and you will be able to compare how everything you have planned corresponds to what you actually have.
4) And in the Reports section you may see charts and reports to learn what happens with your finances. Everything you do in the other tabs automatically shows up in the Reports, and you can make conclusions based on the big picture that you get.
This is it in general. iBearMoney is easy to use and yet very powerful app, which helps you to manage all your personal finances. iBearMoney follows the best Apple’s idea of combining most elegant design and high productivity.
