Connect your bank with PocketSmith and import your transactions automatically.
Keep track of your spending your way with categories, labels, and notes.
Track accounts from different countries and currencies at daily exchange rates.
PocketSmith was recommended by Xero as the only alternative to Xero Personal.
Create cash projections to see your daily bank balances up to 30 years into the future.
Plan your money in a calendar and see what you’re meant to have each day.
Test your decisions to see future outcomes and take uncertainty out of your planning.
Budget according to periods that are meaningful to you: daily, weekly, monthly and more.
Summarize the financial facts that matter to you, and see them in one place.
Keep track of what you own and what you owe. Add property, mortgages, loans and more.
See a report on how much you’ve earned and spent for any chosen date range.
A monthly breakdown of your historical and future financial activity.
We’re updating the way PocketSmith organizes your accounts and forecasts, with the aim to simplify and streamline your experience.
The big change revolves around a new page called the Account Summary. This is the place where all your accounts are listed, and will enable you to quickly perform tasks like update your Live Feed, upload bank files, and edit your accounts.
The current version of PocketSmith delivers Accounts and Calendars separately, and the feedback we’ve received is that this is fussy to manage. Furthermore, the idea of a ‘Calendar’ has not been intuitive to some.
As such, we’re renaming ‘Calendars’ to ‘Scenarios’ (they’ll still be the same containers of future transactions and budgets). The Calendar page will still remain.
The new version of PocketSmith focuses on Accounts, and every Account now comes with a Scenario that contains its cash projections. As such, Accounts now have their own forecasts without the user needing to first create and link Scenarios to them. An Account can have multiple Scenarios, and you can group multiple Accounts under one Scenario.
You’ll still interact with PocketSmith in the usual way, and the Calendar, Merchant and Bank Statements pages will still be there. We’re just updating the way these areas relate to each other to create a more efficient and meaningful workflow for you.
A specific institution tab. The “Manage Account” menu will provide quick access to all account-related features.
If you prefer to have one set of Budgets for all your Accounts, you can enable ‘Simple’ mode, in which one Scenario (or all Scenarios) will apply to all your Accounts.
This a bank, credit card, loan, mortgage or investment account that you choose to manage in PocketSmith. An Account’s transactions can be imported via the Live Feed service, file upload, or via manual entry.
This belongs to an Account, and contains your scheduled Budgets (and soon, Bills and Incomes). A Scenario takes an Account’s current balance and creates future balances based on upcoming Budgets, creating a cashflow forecast.
An Account can have more than one Scenario, which you can toggle on and off to see the impact of proposed Budgets on your future Account balances. Scenarios can be moved from one Account to another in the Organize Accounts page.
This is a Scenario without an Account. It still contains Budgets, but these do not apply to any transactions or forecasts until they are assigned to an Account. Unassigned Scenarios reside in the right sidebar of the Organize Accounts page. Their budgets can only be edited when assigned to an Account.
This is an Account consisting of two or more Accounts that have been grouped together. For example, three credit card Accounts from three different institutions could be grouped into one Grouped Account, called “My Credit Cards”.
The three Accounts’ tabs will be replaced by a single “My Credit Cards” tab on the Calendars, Merchants and Bank Statements pages. You will still be able to turn the individual Accounts on and off from the sidebar on these pages.
In the Account Summary, Grouped Accounts are displayed in a tab of their own and display a single cumulative balance along with an indicator displaying individual Account balances.
Grouped Accounts can have just one Scenario, allowing you to budget for multiple Accounts with a single set of Budgets.
This is how you describe and organize the transactions in your Accounts. Examples of Categories are ‘Groceries’, ‘Utilities’, ‘Eating Out’ and ‘Fuel’. You can create your own Categories, or use (and modify) a pre-loaded template from other personal finance tools like Quicken or Microsoft Money. You maintain one set of Categories across all your Accounts.
Categories are automatically created for you if you import transactions that have already been categorized, e.g. from the Live Feed service, Mint/Xero Express, or from an uploaded file. (Create a note for Auto-Categorization).
Categorizing your transactions enables you to quickly find them by Category in the Merchants and Bank Statements sidebars. PocketSmith can also report on your historical spending by Category and period (e.g. week, or month).
You start a Budget when you set a value and period to a Category, confirming your intent to spend an estimated amount of money in that category within a set amount of time. For example, you could start a weekly budget of $120 for your ‘Groceries’ Category. When this happens, PocketSmith will begin comparing the total amount of your transactions assigned to Groceries within each weekly period and report this to you.
Budgets are assigned to an Account via one of its Scenarios. They are also displayed and managed in the Calendar as repeating events, and determine the future balances of the Scenario.
The following describes how PocketSmith will migrate your Accounts and Calendars to the updated version. Please bear in mind that your choices aren’t set in stone, and can be easily adjusted after the migration process.