Hello Mvelopes Members,
As promised in last month’s update, we are excited to announce the launch of the all new and improved Reconcile feature! We are committed to providing the best online envelope budgeting experience and once again are glad to add another feature straight from feedback from our members.
Plus, this morning’s release also included some additional fixes that will help improve the overall stability of the app. You’ll also find some news on our upcoming plans for our next releases.
To start things off, here is an overview of our latest enhancement: Reconcile
Accessing this feature is easy, simply:
1. Click the Transactions tab
2. In the accounts pane, click on the Reconcile icon
By using the Reconcile feature, you’ll be able to compare the transactions within Mvelopes with the transactions shown on your financial institution statements.
Those of you who are familiar with our previous version of Mvelopes will notice the following improvements:
- While performing a reconciliation, you no longer have to exit the process to create, edit, or delete a transaction
- Adjusting the statement date or balance can be done without having to start over
- You can now start reconciling your Checking account, switch to your Savings account and then come back to finish your Checking account, without losing your progress
- Offline accounts can now be reconciled to a paper statement
Do I have to reconcile? If so, how often should I do it?
Reconciling should only take a few minutes each time you do it (depending on the number of accounts and transactions), and we’ve found that once a month is about how often most members want to reconcile their accounts. However, you may reconcile as often as you wish.
Does it work for offline accounts?
Yes! Reconciliation of Cash accounts typically involves a simple balance adjustment, however, if you have an offline Checking or Savings account, you can now reconcile these accounts to the statement provided by your financial institution.
We hope you’ll enjoy this latest enhancement and that it helps you achieve even greater success using Mvelopes to manage your personal finances!
Here are a few other items on the slate for the coming months:
- Mvelopes Premier: Online Bill Pay is going mobile!
We have been working hard to bring the convenience of Bill Pay to your mobile device. Bill Pay will be available for iOS devices in July. We are also working to add this feature to our Android app, and will keep you posted as we have more information to share regarding when this will be available. Check the blog for the official announcement once it is live in the App Store.
We’re proud to become the only mobile personal finance app that will have integrated Bill Pay. Not yet a Premier member? Bill Pay is just one of many Premier benefits. Log into Mvelopes and upgrade today, it’s only $9.95 per month.
- July’s release will be primarily focused on fixes and improvements to core functionality.
- Comprehensive “Undo” option – coming late Summer 2012
As always, stay tuned to our blog, Facebook page, and Twitter feed for more news and updates. We have had a record number of new members join the Mvelopes family in the past few months! Thank all of you for the opportunity to let us help you achieve financial success.