If you've got more than one banking or credit account, you need this app
PocketMoney 2.5 is a powerful app that makes managing your finances much easier. It only takes minutes a day to keep up with your money, once you set up the app.
You'll start, most likely, with your checking and credit accounts. Creating these in PocketMoney 2.5 is as easy as filling out a form. Enter as much or as little information as you want, because the app doesn't require anything, really.
Once you've set up your accounts in PocketMoney 2.5, it's time to set starting balances. The app doesn't appear to connect directly to your bank, but you can import popular file types like Quicken import files.
If you're doing this by hand, you'll establish your starting balances by creating a deposit transaction for checking accounts. For credit cards and lines of credit, set your beginning balance with a withdrawal transaction.
One nice feature of PocketMoney 2.5 is that almost none of the fields are required when entering transactions. In fact, the only mandatory field is the amount of the transaction. This is great for entering information on the fly, and then filling it in later.
Why we love it
PocketMoney 2.5 uses a terrific autocomplete mechanism for those common transactions. That makes entering them a breeze, since you just have to type a few characters and then let the app fill in the rest. This is very useful for repeating transactions, but there's an even better way to handle those.
The app provides a tool for entering repeating transactions, and it's quite complex. You can set up transactions that are due on a particular day of the month, for example. Or, perhaps you've got a bill that's always due the third Monday of the month. PocketMoney 2.5 allows for either of those situations.
Finding reports on your accounts is easy, with a "Reports" option right in the overview. You can also go to the Dashboard to get an outline of where you're currently at financially, how your budgets are faring, and more.
The app isn't perfect, unfortunately. It has recently changed ownership, and the new developers have not yet set up the support page. So, when you try tapping Settings -> Help & Video Tutorials, you go to a page that doesn't exist. Hopefully, the developers will remedy that soon, because some features aren't as easy to understand as others.