NetWorth2b Budget & Flow
A Budgeting and Expense Tracking App
for Personal Financial Management
| Download the latest Release (Version 2.16) | |
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We are constantly improving NetWorth2B Budget & Flow to make it work better for you. Click the 3-dot menu in the top right portion of the WELCOME screen, and choose the "About" option to see if you have the latest version. | |
NetWorth2b Budget & Flow works on Android devices... | |
A Perfect Companion to...
NetWorth2B If You Don't Have A Money Tree
NetWorth2B Budget & Flow is an accounting program for personal financial management. It is for people who: (1) want to know where their money comes from and where it goes; (2) want an independent data source to verify the account activity recorded by their bank; (3) need a budget that reflects monthly fluctuations in income and expenses; and (4) do not want to see ads, promotions, or recommendations inside the app.
As a starting point, the app allows you to create a specific budget for each month. This is an important feature because it accommodates fluctuations in monthly cash flow. From there, you can track actual income and expenses by budget category. At any point, you can compare budget targets to actual activity, and make the appropriate adjustments.
Many of the existing personal finance apps, collect your personal data, and use it to sell in-app products and services; so there is no real data privacy.
By contrast, NetWorth2B Budget & Flow, does not include in-app ads, promotions or recommendations, and your personal data is not being collected by the app provider. As for data security, the Networth2b Budget & Flow app has a built-in backup feature that allows you to generate an encrpyted file that you control. Best of all, there are no subscription fees, no pay-per-use fees, no hidden costs... just one low price.
Successful financial management is a series of choices and actions. Net Worth2b Budget & Flow can help you navigate the process. The app is easy to use, and with integrated voice help it's easy to learn.
NetWorth2B Budget & Flow
Beyond Basic Budgeting and Expense Tracking
ACCOUNTS: Balances are automatically updated when cash flow transactions are recorded. Miscellaneous deposits, withdrawals and transfers can be recorded for transactions not associated with normal activity. As a matter of security, the NetWorth2B app does not access institutional accounts. Instead there is a built-in reconciliation function that allows the user to independently verify the activity recorded on each account statement.
BUDGET: An unlimited number of custom categories, can be tailored to fit any financial situation. Since each category is designated as Monthly, Quarterly, Half-year, Yearly or Irregular; cash flow variations are captured in distinct monthly budgets. This provides advance knowledge of month-to-month changes, so reserves could be set aside in surplus months, to cover anticipated short falls in deficit months; and as such creates actionable information.
CASH FLOW: By recording financial transactions, the user builds a searchable spending history that provides enough detail to answer the question... Where did my money go? Purchasing decisions can be fully scrutinized in real-time, or when doing a look-back. There are no random descriptions or misclassifications from imported transactions that are supposed to save time. However, there are Recurring Entry templates to minimize data entry.
ANALYSIS: Here's where you evaluate spending behavior against the budget. Are you sticking to the plan? Is the plan realistic? With the Budget-to-Actual comparison, unfavorable variances are shown in red, so you know how you're doing, at a glance. The trend analysis makes it easy to determine if you are consistently over/under budget, or if variances can be isolated to a specific period, category or transaction.
Budget & Flow - Frequently Asked Questions
GETTING STARTED
Overview, Navigation & Help?
NetWorth2B Budget & Flow Step-thru: (1) Create ACCOUNTS to capture daily cashflow; (2) Customize BUDGET categories & amounts; (3) Create RECURRING ENTRY templates; (4) Record CASH FLOW transactions; and (5) Compare CASH FLOW to BUDGET targets.
Common Functionality?
The Add/Update/Delete functions are common to Accounts, Account Statements, Budget Categories, Cash Flow Transactions and Recurring Entry Templates.
ADD: Tap the Plus icon found in the upper portion of the screen; complete the screen fields and choose the SAVE option.
UPDATE: Tap the object; select the Update option from the popup menu; complete the screen fields and choose the SAVE option.
DELETE: Tap the object; select the Delete option from the popup menu; confirm or cancel the delete request.
Account Overview?
An account can be a checking, savings, credit card, debit card; or any other funding vehicle available for receipts and expenditures.
Since cash flow transactions are recorded by category and account; balances are adjusted in real time.
Even though, these accounts should mirror your bank accounts; they do not access those institutional accounts; and therefore,
do not expose your account to data transfer hacking. In fact, nicknames can be used, to keep your bank affiliations totally anonymous.
Budget Overview?
Creating a budget, starts with defining Inflow and outflow categories that coincide with your earnings and spending activity. Within your budget, you should set a monthly target amount for each of these categories. There is also an option for quarterly, half-year and Yearly target amounts.
Statement Summaries?
Statement Summaries consist of beginning and ending dates and balances from bank account statements. They are used to reconcile activity recorded in the app to activity recorded by the bank. While you may trust your bank, you should verify their calculation of your account balance.
DAY-TO-DAY
Cash flow transactions?
The Cash Flow Summary provides total cash inflow and outflow transactions for each category, for the selected period of activity.
Recurring Entry templates can be used to short-cut the process. There is also an option to duplicate an existing transaction as
a starting point for a new transaction.
At tax time you might find the cash flow export option handy. You can transfer cash flow transactions to the SD card on your device;
to a file format compatible with Excel.
Recurring Entry Templates?
Recurring entry templates are used to eliminate the repetitive data entry associated with similar transactions. When recording a cash flow transaction, you have an option to select a recurring entry template to auto-complete screen fields.
Misc. Account Activity?
There is an option, to record a deposit, a withdrawal and/or a transfer, directly against any account. This allows you to
update account balances, whenever money is moved; without requiring a cash flow entry.
However, this should only happen, as an exception; daily operating cash inflows and outflows should be recorded in the
CASH FLOW section, not in the ACCOUNTS section.
Account Reconciliation function?
After entering your bank statement summary, you can generate an account reconciliation that compares the ending balance calculated in the app, vs. the corresponding balance reported by the bank. Discrepancies can be resolved by matching transactions recorded by both.
Backup, & Restore data?
There is an option to backup and Restore the entire database to the SD card on your device. Unlike, cash flow the export function, this data is not formatted for Excel.
EVALUATE
Allocations by Category & Group?
Structuring a budget with groups and categories, provide an opportunity to analyze activity in aggregate and in detail.
Categories assigned to a Group?
Category/Group assignments can be edited thru the category update function.
Cash flow by Account?
In addition to viewing Cash Flow transactions by category, they can also be viewed by account for any period of time; with up to date account balances.
Budget to Actual comparison?
The Budget vs. Cash Flow comparison shows whether or not your financial objectives were met. A review of the summary and detail data, can help you determine if any action is necessary for future planning.
Cash Flow by Category?
With historical data, you can scrutinize your earning and spending patterns; and create a more realistic financial plan.
