One of the best features of SchoolsOnline is the Money Manager. Use it to keep an eye on your spending habits: how much did you spend on groceries last month versus this month? How much income did you have last year compared to now? All those answers and more are just a few clicks away in Money Manager.
What is Money Manager?
Money Manager is the new feature in SchoolsOnline that lets you track your spending so you can stay on top of your finances. Your transactions are assigned to categories that you control. You can also set up budgets for your accounts. It’s all customizable.
How do I set up a budget?
The main page of Money Manager is the Monthly Income/Expense report. You see Budget as one of the options along the top of the page. It has three options next to it: Suggest, Clear and Setup. Click Setup to begin setting up a budget. It will take you to a list of all of the categories in SchoolsOnline. If you’d like to set a “Grocery” budget, for example, click the Edit icon next to the Groceries category. Among the many options in the edit screen, you see Budget. Enter the amount you’d like to spend on groceries in any given month. When you click Save, you are returned to the category list, and there you see your monthly grocery budget represented by a red line.
Can I add my own categories?
Yes. Near the top of the list of categories there is a plus sign in a green circle. This is the Add Category icon. Click it. Start by naming it (e.g., coffee shops). Is it an expense or income? You can skip the budget; it’s not necessary when creating categories. Enter the Keyword Rules that will apply to this category (e.g., Starbucks, Peet’s, etc.). Auto Categorize rolls back over all of your transactions to categorize any previous transactions into this new category. That’s why there may be a 1-2 minute delay. Click Save and the category is created.
How do I customize which accounts are included in Money Manager?
There is a dropdown that reads "Report On." It will allow you to view reports on just one of your accounts.
What does the Exclude Transfers option do?
It removes any transfers between your accounts from the Money Manager. Account-to-account transfers don’t really apply to reports on your spending habits so this option allows you to remove them from view.
How do I download my budgets?
If you’d like to download your budgets to your computer, click Download and a CSV file is automatically generated and sent to your computer.