Welcome to MoneyTwizz
MoneyTwizz is an application that lets you plan your budget in a fast and efficient way. It provides the means to plan your future expense and income transactions and to keep the planning synchronized with your bank statements. You do not have to spend hours entering the bank statement data and assign all expenses to categories, or trying to find where you mistyped some value so that the end amount is a couple of cents different from the bank statement. The goal of MoneyTwizz is the planning aspect, not the bookkeeping aspect. The following concepts play a central role in MoneyTwizz:
- Account: Represents a bank account you want to manage. There is no relation between the accounts in MoneyTwizz, you can do the budget planning for each account if you like but there is no other relation between the different accounts (you cannot define transactions that span two different accounts).
- Agenda: It is a list of recurring income or expense events.
- Transaction: It is a planned change of your account, it can be generated from the agenda, or you create these as you see fit.
- Planning horizon: You want to do the budget planning until that date. Usually it is a month away, just before your next paycheck arrives, but you can choose this as you like.
- Reconcilement: You can enter the bank statement data and associate the planned transactions with it. The sum of the planned transactions do not have to match the bank statement amount, this is where MoneyTwizz differs from an accounting application. By associating a transaction with a reconcilement you make a statement that the planned transaction has happened in reality as well and that you can forget about it.