A long time ago it was common to use notes in calendars or spreadsheets to control our personal finances, taking hours to calculate some balances. Now, this is quite different. On Mobills we perform these calculations for you. Want to know how? Keep reading!
Mobills has results that will help you control your spending and save during the month. This article will help you to understand how the values that are displayed in the tool are calculated.
We will read the following topics in this article:
The current balance is the amount that represents what you may have in your account right now.
This value is obtained using the following math:
Current balance = Opening balance of your accounts + (Incomes Received - Paid Expenses)
The 'Account balance' is the amount that represents what you should have in all your accounts together right now. You can find this value on the main screen or by accessing the 'Accounts' screen.
This value is calculated using the following formula:
Accounts balance = Initial balance of Accounts + (Receiveds income - Paid expenses)
Final monthly balance
The final monthly balance is the amount that represents what you must have at the end of the next few months or the month in question according to your recorded entries. You can find this value in several places at Mobills.
The final monthly balance is calculated using the following formula:
Final monthly balance = Current balance + (Receitas Pendentes - Despesas Pendentes)
The Daily Balance considers the amount of your balance until a certain day of the month. However, if these incomes and expenses are not received or paid on the day, the calculation will be performed only taking into account the transactions paid or received after the day has passed.
Easy, isn't it? By automating these calculations On Mobills, you can rest easy to analyze your finances and not waste time on extensive formulas and calculations. After checking these calculations and noticing any irregularities, you can ask us, ok? Let's check together.