When managing your finances in MoneyLover, it’s not uncommon to miss logging a few transactions, which can lead to discrepancies between your recorded balance and actual expenditures. So, how can you quickly reconcile these differences?
To effortlessly realign your balance, take advantage of the balance adjustment feature in the Money Lover app. This tool allows you to correct any inconsistencies and ensure your financial records are accurate and up-to-date.
How to adjust balance?
You can adjust the balance in two ways:
Method 1: On the Transactions screen, tap the three vertical dots in the top right corner and select "Adjust Balance." Then, enter the necessary information and tap "Save" to update the balance.
Once you tap "Save," the app will automatically create an income or expense transaction to match the adjusted amount, and this transaction will be automatically excluded from the total (you can change this status).
For example, if your current balance is 14,214,147.53 VND but it should actually be 15,000,000 VND, when you create an adjustment transaction to set the balance to 15,000,000 VND, the app will automatically generate an additional transaction of 785,852.47 VND.
Method 2: On the Transactions screen, select the specific wallet you want to adjust. Tap the balance at the top, then choose "Adjust Balance" and proceed to set the balance to your desired amount.
To simplify monthly financial management and ensure each month begins with a clean slate, adjust your balance to zero at the start of each new month. This approach helps you avoid carrying over the previous month’s balance and keeps your records clear per month. However, we do not recommend this method as it may impact the accuracy of your reports. You can try some other methods as suggested in this link.