Get a handle on your budget and visualize your net worth with the new and improved Financial Tools in Online Banking. Learn how to get started and make the most out Financial Tools’ features:
Setting Up Financial Tools
Getting started is easy. When you log into Online Banking after October 27th, you’ll notice the Financial Tools module at the top of the home screen. Click Get Started to enroll. You can also enroll, or disenroll, by selecting Settings from the menu, and Financial Tools.
If you have accounts at other institutions, such as your employer’s 401k or a loan at another institution, link your accounts to generate a full picture of your financial health. Simply click Link Account, enter that account’s credentials, and Financial Tools will sync up your activity.
You can also manually add an account to represent external debts, properties, or any account type that you are unable to link at another financial institution. You can utilize this feature to track your balance and accurately reflect your financial health.
Click Add a Manual Account in the Link Account menu, or in the Manual Accounts module at the bottom of the home screen. Enter the account information. Manual accounts are not synced, so they will not update automatically. To delete or update this account, click the Options icon (⋮).
Linked accounts will automatically display as tiles on your Online Banking Accounts page. To remove them from this page, click the Options icon (⋮) on the tile to display the settings, or select Settings from the Menu and click Account Preferences. Toggle account visibility on or off to display on the home page or in Financial Tools.
Spending displays all of the existing categories of spending for the time period displayed. Click to view all transactions, or transactions for a certain category. Selecting a transaction will allow you to edit the category, add a tag, or update the memo. After you edit the category, you will be asked if you would like to apply the update to all transactions from that vendor. You can also export your data as a CSV file for your records.
Tip: You can split a single SESLOC transaction into multiple categories. This is helpful to cast an accurate budget when you shop at multi-purpose stores like Costco. Go to your Accounts Dashboard in SESLOC Online Banking and click on the account tile to display transactions. Click the Options icon (⋮) on the transaction, and select Split Transaction. Enter in the amounts you would like to split off, and click the circular icon to select a category.
The budget tool offers a visual glimpse into your monthly finances. Categories are displayed as color coded bubbles, so you can see how you’re doing at a glance. Green means you’re spending below your budget, yellow means you’re approaching your budget, and red means you’ve spent more than you allocated for that category.
Get started quickly by auto-generating your budget based on your past 90 days of activity, or take the time to set it up manually. You can edit your budget by selecting Add New Budget to add new categories, or select Recalculate Budget to auto-generate updated figures based on your recent activity. Double-clicking on a bubble, or toggling on the list view and clicking a category, will display the details:
- Select Edit Budget to update the dollar amount allocated to the category.
- Select Transactions to view your data. Selecting a transaction will allow you to edit the category, add a tag, or update the memo. After you edit the category, you will be asked if you would like to apply the update to all transactions from that vendor.
- Select Add a Sub-Budget to view your spending in specific sub-categories. The Food and Dining category, for example, can be split into groceries, dining, fast food, coffee shops, or even a custom sub-category.
Trends provides a visual overview of spending trends over a period of time. Select a category to view spending trends between sub-categories.
The cash flow tab provides an overview of your income and expenses, and is handy for tracking and forecasting savings. Select Add a Cash Event to add income sources, like your paycheck, and recurring bills.
Track your assets and liabilities month to month to get an overview of your net worth.
The debts tab is a beneficial tool if you’re tackling debt. Forecast your payoff dates and see how different payoff strategies might work for you to determine if you should modify your payment plan.