Keep business money apart from your personal finances: create a business space on the web, pick its currency and time zone, and switch spaces.
A business space keeps a company’s or side business’s money in finerd apart from your own: it has its own accounts, transactions, categories, reports, primary currency, time zone and subscription. You create a business space on the web, in the space menu at the bottom of the sidebar, and then switch between it and your Personal space on the web, Android and iOS.Creating a business space is free, and each new business space starts with its own 34-day Pro trial. After the trial it needs its own paid subscription, which you pay on the web. Android and iOS can’t create a business space; once you’ve created it on the web, it appears in the apps.
Everyone in finerd has one Personal space, created when they sign up. You can add as many business spaces as you need, for example one for each company.Each space is a separate set of finances. Accounts, transactions, categories, reports, the primary currency, the time zone and the subscription all belong to one space, so a business expense never lands in your personal reports, and the business’s reports show only the business. A new business space starts with:
Business categories instead of personal ones, such as Marketing, Cost of Goods Sold, Employees and Business Travel for expenses, and Sales Revenue for income.
A Wallet cash account and two Equity accounts, Owner Investment and Profit Withdrawal, for the money you put into the business and take out of it.
finerd names these accounts and categories in the language your app uses when you create the space.Family access links two Personal spaces, so it isn’t available in a business space. A business space is shared through members and roles instead.
Select your profile at the bottom of the sidebar. The menu lists your spaces.
Select Create business space.
The space menu lists your spaces, with Create business space below them.
Enter the name of the business, for example Acme Inc. To change the picture, select the briefcase icon and choose another icon or upload an image. Select Continue.
Step 2: the currency and the time zone, which can't be changed later.
finerd creates the space and opens it straight away, on the page you were on. The space menu now shows the new space with the label Business and the trial at the top: Pro · 34 free days left.
The Android app can’t create a business space. If you tap the space avatar at the top of the screen and then Add business space, the app says that a business space can be added in the web version at app.finerd.ai. Create it on the web, and it appears in the app’s list of spaces.
The iOS app can’t create a business space. Create it on the web; it then appears in the app, and a tab for switching spaces appears; see Switch between spaces.
You choose both when you create the space, and you can’t change either of them afterwards: the web shows Once selected, time zone and currency can’t be changed. If you need a different currency later, create another business space.
Primary currency. finerd shows totals and reports in this currency. Accounts and transactions keep their own currencies: a business space in euros can still have a US dollar bank account. The web suggests the primary currency of the space you’re in.
Primary time zone. finerd shows transaction dates in this time zone, so a payment looks as if it happened at home even when you travel. The web suggests the time zone of your computer.
To check them later:
Web
Android
iOS
Select your profile at the bottom of the sidebar, then the settings icon. Space info at the top of the space settings shows Primary currency and Primary time zone; you can read them but not change them.
Space info in the settings of a business space; the currency and time zone can't be edited.
Tap the space avatar at the top of the screen, then Space settings. Tap ⋯ in the top-right corner and then Metadata: it shows Primary asset (the currency) and Timezone.
Open More, tap the space icon in the top-right corner, then ⋯ and Metadata. It shows Primary currency and Primary time zone.
Metadata on iOS shows the currency and time zone of the open space.
Everything you see, from the Dashboard to reports, belongs to the space that’s open. Each device remembers its own choice: switching spaces on the web doesn’t switch the app on your phone.
Web
Android
iOS
Select your profile at the bottom of the sidebar.
Select the space you want. A check mark shows the open space, and business spaces have the label Business.
finerd shows Switching to and the name of the space, then opens its Dashboard. The browser opens the same space the next time you come back.
Tap the space avatar at the top of the screen, for example on Dashboard or More.
Tap the space you want. Each space shows Personal or Business under its name, and a check mark shows the open one.
When you have more than one space, a fifth tab appears at the right of the tab bar, named after the open space.
With two spaces, tap that tab to switch to the other space.
With three or more, tap it and choose a space under Switch to. A check mark shows the open one.
The app shows Switching to and the name of the space while it loads.
The last tab shows the open space; tap it to switch.
Adds Equity, for owners’ money such as investments and dividends, on the web and iOS. Rewards isn’t offered.
Reports
Profit & Loss on the web and iOS, and Balance Sheet on the web, next to Expenses, Income and Cash Flow. The web and iOS don’t show Net Worth or the Financial Plan in a business space.
Not available
Family access, budgets, and rewards and loyalty points.
Zero Inbox
In the space settings on Android and iOS; the web doesn’t show it in a business space.
Members
You can invite people and give them roles, such as admin, accountant or viewer, on the web; iOS shows the list of members. Each extra member needs a paid seat; see Business spaces and extra members.
The Accounts page of a new business space, with Equity at the end of the Add account list.
When you create a business space, finerd links it to your Personal space with a pair of Debt accounts: one named after the business in your Personal space, and one named Personal in the business space.Use them when you pay for something for the business with your own money:
In your Personal space, record the expense from the card or account you paid with, and in To choose the business’s account under Debts & Reimbursements.
finerd copies the payment to the business space, where it comes from Personal. Choose the business category there if finerd hasn’t already.
For example, a €40 desk paid with your own card appears in the business space as €40 from Personal to Equipment, and the business’s account in your Personal space shows that the business owes you €40.
The copy in the business space: from Personal to a business category.
The copy can’t be deleted in the business space; change or delete the original in your Personal space, and the copy follows.
A business space has its own subscription, separate from your Personal space: Pro in your Personal space doesn’t cover the business, and the other way round.
Trial. A new business space gets a 34-day Pro trial for its owner, with no card needed. The days left appear at the top of the space menu on the web.
After the trial, the business space locks until it’s paid for. Nothing is deleted. The web shows Your subscription has ended, iOS Account is inactive and Android Space is inactive.
Paying. You pay for a business space on the web, in the space settings under Billing. The Android and iOS apps can’t take payment for it. Each extra member needs a paid seat.
You can change the name and the picture of a space at any time:
Web
Android
iOS
Select your profile at the bottom of the sidebar, then the settings icon. Select the name at the top to edit it, or the picture to choose another icon or image, then select Save. Save appears once you’ve changed something.
Tap the space avatar at the top of the screen, then Space settings. Edit the name, or tap the picture to choose another icon or take a photo, then tap Save.
Open More and tap the space icon in the top-right corner. Tap the name to edit it, or the picture for Upload image, Take a photo or Select icon, then tap Save.
The settings of a business space on iOS, with the Business space label under the name.
Delete space is at the bottom of the space settings on the web and Android, and in the ⋯ menu on iOS. Only the owner can delete a business space, and only when no other members are left in it. Deleting removes the space and everything in it and can’t be undone, so export your data first. Your Personal space can’t be deleted while you have business spaces.
