You Can Now Forecast Multiple Accounts

We’ve just added support for multiple accounts! This means you can now track and forecast the cash flow of your checking account, savings account, business account, etc. There is no limit to the number of accounts you can track.

When you create a new transaction, you will notice there is a new category type named “Account Transfer.”

Account Transfer Screenshot

When you select this category type you will be asked for the From and To accounts. The transaction will automatically appear on both accounts (as an expense on the From account, and as an income on the To account).

Deleting the transaction from either account (From or To) will delete the transaction from the other.

What’s next?

We really want to add support for credit card accounts. Credit card accounts are different than regular accounts in the sense that an “expense” on a credit account should increase the account’s balance, rather than decrease it. I really need support for credit cards myself, as I tend to use my credit card a lot to pay bills.

Right now, when I look at my Category Report, I can’t see how much I’ve spent on restaurants because I tend to use my credit card for those types of expenses.

Stay tuned!

Cents Are Now Supported!

When I first created Kualto, my wife and I made the decision that to make things simple, we wouldn’t support cents. After years of using the cash flow forecasting method to manage our expenses using a spreadsheet, we knew that if you just rounded your expenses up or down, in the end you would always be within $2 of your bank account’s actual balance.

So we instead provided a Balance Adjustment feature that allows you to adjust a week’s ending balance to make it match your bank account. That was enough for us.

Then we released our iPhone app and got the following review a month later.

We had completely forgotten about that decision we made a while ago. It made me wonder how many other users had decided not to continue using Kualto because it was lacking this feature.

So there you go. Cents are now supported thanks to this reviewer. If there are any features you wish we would add, make sure to send us an email. And don’t forget to rate our app in the App Store. Whether positive or negative, we appreciate the feedback.

Predict Negative Balances With This Chart

I’ve added a new report, called the Balance Report. With this you can see what your account balance is expected to be for any week up to 3 years in advance! You can avoid overdraft scenarios and predict any problems many months before they happen.

What’s cool about this is that it lets you quickly see what you can or can’t afford to spend on. If for example you were thinking about adding a new monthly bill, you can create that repeating transaction and then go look at this report to see what that new monthly bill would actually mean to your account balance months down the line.

You can also use it to see how much you can save. If you want to see if you can afford to save an extra $200 a month, create that repeating transaction and take look at your balance report. If you don’t see red, you are good to go!

Each bar in the chart represents the week’s ending balance. When you see a positive red bar, it means at some point during that week, your bank account balance will go negative, but it ends positive. If the red bar is negative (below the 0 line), it means your balance will end negative on that week.

If you want to see what’s going on in those future red weeks, you can click on them to be taken to the cash flow screen for that week so you can try to fix any issues. On the app or on the mobile site, you don’t click on the bars themselves. You click on the balances that are listed below the chart.

The iPhone App is Out!

The Kualto app is now available for iPhone. While we’ve had a mobile version of the site since the beginning, the app is faster and much more fun to use, and it does everything the website does.

Make sure to review the app if you use it. I appreciate any feedback, whether positive or negative.

Know Where Your Money Goes With This Chart

Personal Budget Reporting

Category Spending Reports are now available! You can select a date range in the past or the future, and see a break down of your expenses/income for each category. You also get a nice looking pie chart showing you each category’s percentage. It’s great to be able to see how much you plan to spend on each category for an entire year, for example.