After a bunch of days filled with anticipation, the awesome folks over at Money Lover have finally dropped the much-awaited "Global category" in their version 8.0! But here's the friendly scoop – have you had a chance to dig into all the cool new stuff this app has to offer?
There are some neat changes in how you can check out your transactions, group your expenses, handle your budgets, and whip up some snazzy reports. What's the inside scoop, you ask? Well, let's explore together and see what kind of fun surprises they've cooked up for us! 😉👇
I. Transaction Viewing
In the Transaction Book screen, instead of being limited to viewing categories in separate wallets as before, in the current version 8.0, you can now view transactions from all your wallets (~all wallets). This helps you get a more comprehensive overview of your daily income and expenses.
Tracking all transactions per category of different wallets becomes more convenient with the "All wallets” option.
II. Category Management
You can also easily manage income/expense/debt:
+) On the Category Management screen, you can see your category list across all wallets or individual wallets.
+) Categories are now divided into three types: Expenses, Income, Debt/Loan.
+) Categories are organized hierarchically. For example:
- Parent category: Food & Beverage
- Subcategories: Breakfast, Lunch, Dinner, Coffee, Snacks, Groceries, etc.
To access this, go to the "Account" tab, select "Categories," and the Category Management screen will appear as shown above.
You only need to create an income or expense category once. Money Lover will automatically assign that category to the appropriate wallets.
Additionally, you can also flexibly adjust the active/inactive status of categories in different wallets.
You can activate/inactivate each category in each wallet. For example, Food & Beverage belongs to 3 wallets as above.
III. Budgeting
A budget for a category is the expected expenditure for that category over a period. Setting budgets reflects the actual spending situation, helping you predict and control better in the future.
With Global Category version 8.0, you can:
+) Set up a budget for a category once for all your wallets.
+) Flexibly adjust the time frame to set your budget, for example, weekly, monthly, quarterly, yearly, etc.
Just create a category budget once, and all the wallets will automatically apply this budget.
Viewing budgets is now more convenient when applied to the "All Wallets" mode.
III. Reports
Global Category in version 8.0 enhances consolidated reporting for your wallets, making it more convenient to track:
+) Ensure that all transactions with the same purpose are grouped together in the "all wallets". For example, expenses for eating at home, dining out with friends, coffee, etc., from personal wallets, family wallets, work wallets, etc., all fall under the Food & Beverage category in the "all wallets".
+) Easily track different types of reports by adjusting the time frame and category right on the details screen of each report.
With Global Category, you can easily customize the time frame and category even more.
Moreover, you can view reports by category right on the report's overview page.
Now you can see report by categories right on overview report screen.
You can find more detailed instructions for using these features here:
👉 Everything about categories in the Money Lover app.
👉 How to use budgets in the Money Lover app.
👉 How to view all reports in the Money Lover app.
So, those are the highlights of the "Global Category" feature in Money Lover 8.0. Experience it, feel it, and share your thoughts with us! 😉 If you have any questions, don't forget to email us at [email protected]. We're happy to assist! 🥰
Thank you for trusting and choosing to manage your personal finances with Money Lover! 🥰 🚀