Total time to set up: 5 to 15 minutes
Before using the template, you’ll have to set up a few things. This should take you around 10 minutes.
All you have to do is follow the instructions below.
<aside> <img src="/icons/cash_gray.svg" alt="/icons/cash_gray.svg" width="40px" /> Change the currency (optional)
Time to set up: < 1 minute
The template’s default currency is USD.
If you want to use another currency, for all the columns in the 3 databases on the right, click on 123 next to one of the value and choose your currency.
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<aside> <img src="/icons/grid_gray.svg" alt="/icons/grid_gray.svg" width="40px" /> Default templates
Time to set up: < 1 minute
You need to set up the default templates for the Categories, Expenses and Shopping Wishlist databases.
To do so, for each of the 3 databases on the right, click on the blue arrow next to New in the top-right corner of the database, click on the three dots next to the template name and click on Set as default > For all views…
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<aside> <img src="/icons/friends_gray.svg" alt="/icons/friends_gray.svg" width="40px" /> People
Time to set up: < 1 minute
Then, you have to add the people who will use this template.
First, remove the sample persons Nicolas and Catarina
Then, add yourself and the other person who will use the template. You can use the page icon to add a photo if you want.
<aside> <img src="/icons/warning_red.svg" alt="/icons/warning_red.svg" width="40px" /> This template works best for two persons (eg. a couple, 2 roommates, etc). It will work for 3 persons or more to track the expenses but it will be less easy to calculate who owes how much to whom.
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<aside> <img src="/icons/tag_gray.svg" alt="/icons/tag_gray.svg" width="40px" /> Categories and budgets
Time to set up: 2 minutes
If you want to assign a category to each expense, you’ll have to add your categories or modify the existing ones.
You can do so in the database on the right or later directly in the template while you use it.
The most common categories are already there. You can remove the categories you won’t use and add your own.
Then, add or update the monthly budget for each category.
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<aside> <img src="/icons/repeat_gray.svg" alt="/icons/repeat_gray.svg" width="40px" /> Recurring expenses
Time to set up: 3 to 10 minutes
The last things to set up are your recurring expenses (e.g. your rent, phone bill, electricity bill, etc).
Go to the Expenses database on the right and click on the blue arrow next to New in the top-right corner.
You’ll already see one recurring expense named Rent ‣ . If you pay a rent, you can keep it and simply modify the amount and buyer (by clicking on the three dots and Edit) and the Repeat settings.
To modify the Repeat settings click on the three dots next to the Rent template and click on Repeat. Then, you can change the frequency (usually monthly), the start date (the date of the month when you are charged) and creation time (the time of the day when you want the new expense to be created).
Repeat settings for the recurring expenses
Each month you’ll have a new expense automatically created for your rent. If there is already an automatic payment going to the buyer of this recurring expense, you can check the Refunded box in the template edition so that it doesn’t appear in the Expenses to refund section. You can also check the Paid box if the payment to the vendor is made automatically. Otherwise, the expense will appear in the Unpaid bills section to remind you to pay the bill.
For your other recurring expenses, simply duplicate the Rent template, set up the Repeat pattern and edit the templates (template name, icon, amount, buyer, category and the two boxes refunded and paid).
The purchase date must stay empty since it’s a recurring expense. You can add it manually every time a new expense is generated.
For the name of your recurring templates, I recommend adding the Date when duplicated. To do so, type your expense name followed by @Today. Then, select Date when duplicated. Doing so, you’ll have a unique name for each of your recurring expense. This is exactly what I did for the Rent ‣ template.
Date when duplicated
Finally, don’t forget to remove the existing sample expenses in the database.
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Congratulations! You’ve finished setting up your template. You can now go back to Shared Expenses Tracker and start using it.
In the template, you’ll see sections called How it works? in case you need help.