Personal Finance Managerfor Android Frequently asked questions
What is Personal Finance Manager?
Personal Finance Manager is a simple tool for tracking expenses and managing budgets for the Android platform.
It was formerly known as iFreeBudget.
Personal Finance Manager is based on double-entry accounting principles. Every financial transaction is recorded in two accounts. Accounts are of four base types
Cash & Investments – These are asset accounts, things that you own. Asset account balances contribute positively to your net worth.
Examples: Checking or savings accounts.
Income – Money you receive.
Examples: salary from your job, rental income etc.
Expense – Money you spend.
Examples: rent, shopping expenses, commute expenses.
Liabilities – Accounts for money that you owe. Liability accounts contribute negatively to your net worth.
Examples: Credit cards, mortgage accounts.
How do I record an expense?
From main screen, Tap on “Add transaction” icon. If you are on “Accounts” screen, tap “Add” button on top right of your screen.
In the “Transaction details” screen:
Select “Expense” in the “Type” drop down. This will filter the account drop down to include only Cash accounts and Payee drop down to include only expense accounts.
Select the account you are using to pay for the expense under “Account” drop down.
Select the expense account that you are paying for under “Payee” drop down.
Set the date for the transaction and enter amount.
Optionally, enter some notes for this transaction.
Tap “Save” button on top right corner of your screen.
How do I record an income?
See above. Select “Income” in “Type” drop down.
How do I record a refund?
See above. Select “Transfer” in “Type” drop down.
What is a category?
A category is a folder of accounts.
How do I create an account, category?
Will show the options dialog
How do I delete/move an account, category?
In “Accounts” screen, tap on button.
Accounts and Categories screen will slide out. Navigate to the category/account you want to edit, delete or move.
Long press the item and in the pop-up menu select the appropriate option.
How do I create a budget?
Tap “Budgets” icon on the main screen.
Tap “Add” button on top right
Give a name for your budget and select “Weekly” or “Monthly” type for the budget and tap “Next”
Allocate amounts for the accounts you want to include in the budget.
How can I setup a reminder?
Go to menu on main screen and select “Reminders” menu item. Tap on “Add” button on top right of the screen.
How do I backup my data?
Tap the “Backups” item on the main screen.
Tap the “Save” button on top right of your screen. A backup of your current database will be saved on your phone.
You can also save the backup file to your Google Drive. Long press the entry in the backups list screen and select “Save to Google Drive”
Can I sync my data across multiple devices?
Yes, save a backup to your Google Drive. If you use the same email on multiple devices, you can select “Use this backup” on the backup file menu options.
If you use different email, you must first share the backup file with that email. Select “Share” on the backup file menu options.