The iPhone and iPad Blog by Simon

There’s a range of money management apps available for the iPhone, and with a range of features, but sometimes iPhone users don’t want to spend hours learning about an app before start using it.

MoneyWiz is a personal finance app that is easy to understand from the start and it also syncs with the app’s Mac and iPad versions. This review is for the iPhone app.

How to use MoneyWiz for iPhone

When you launch the app for the first time, you’re going to see five different options. You have to create a new account to get started. The app lets you add a cash account, a savings account, a credit account and a current (checking account).

You have to assign a name to each account and assign a starting balance. The default currency is US dollars but you can choose any currency of your choice in the Settings section of the app. Once everything is configured, you are redirected to the main screen, which lists all the accounts you’ve added and a little colored bar that turns green when you’re in credit and red when you’re facing debt.

An impressive feature of the app is the way it deals with transactions. You can enter a transaction by tapping on the account you would like to assign a transaction to and then click on the upwards arrow at the bottom right corner of the screen. Transactions are categorized into transfers, incomes, expenses and balance adjustments.

Transactions can also be scheduled, which is pretty handy when you have a regular expense like a utility bill or income going out of or coming into the account. You just need to tap ‘scheduled’ on the main screen to add a scheduled transaction, and then select the type.

Moneywiz also has a feature that lets you set a budget. It asks you which account to monitor as well as categories. And the app can automatically transfer unused money into the next week of the budget. The app gives custom reports of all the activity, and each report can be customized for a particular date range. Reports can be saved within the application, or exported as a CSV or PDF file.

Final thoughts

Using Moneywiz is simply brilliant. The simplicity of its use without compromising on features makes it a great pick on the App Store. For an average Joe, it is the perfect option to keep finances in check.

You can download Moneywiz for $4.99 from the App Store. Let us know if you give it a try and feel free to leave comments.

This article, MoneyWiz For iOS Makes Personal Finance A Breeze, was originally published at simonblog.com.

The post MoneyWiz For iOS Makes Personal Finance A Breeze appeared first on The iPhone and iPad Blog.