First thing's first - A status update

For the past few months we’ve been working on many new features which we’ll bundle up and release in one update later this summer. Here is how things are looking so far and what to expect:

  • The update we’ll be pushing later this summer will include Tags, Investment Accounts, Receipts Sync, the ability to disable auto-categorization for Online Banking, much improved auto-categorization, the ability to offset both income & expense categories manually and many smaller features and bug fixes.
  • Receipts sync is currently released in beta mode on Android and we’re releasing it to the subscription based MoneyWiz this week (both iOS and Mac).
  • The subscription based version of MoneyWiz for Windows must also come this week.
  • We’re bring more changes to the subscription version’s pricing. Read on to find out more.
  • Once we release the big summer update, we’ll focus on bug fixing.

Mission ``Perfect``

Over the years we’ve wanted to add more and more features to MoneyWiz to satisfy your finance needs. While we had the best of intent in doing so, the reality is that due to limited time and resources we had to ignore some bugs we deemed minor. That was done to avoid delays.

We’ve decided that this is no way of going forward and we owe you MoneyWiz with no bugs at all.

Actually this is quite an ambition – no software of that size has zero bugs. All of you experienced software users know that. Well, we want to change that and this is how we plan to achieve it:

First, we’ll roll out that big summer update. Once it’s out, we’ll fix the urgent bugs that would be reported after the update. Once this is over we plan to release a series of updates until we’ve fixed every bug logged to our dev team, no matter how big or small, old or recent it is. Once we’ve achieved that status, we’ll address our entire community of hundreds of thousands of users and ask them to report any bugs they notice. We’ll keep fixing until we have at least 2 weeks with no bug reports, no unfixed bugs. For all platforms – iOS, Mac, Android and Windows.

Unfortunately this may mean that we’ll delay MoneyWiz 3 a little, but it is our desire to have a perfect MoneyWiz going forward, instead of just patching up on what’s been done so far.

Changes to the Free/Subscription version of MoneyWiz

You may or may not know that we have a free/trial/subscription version of MoneyWiz. It’s free to download and imposes a limit of 100 transactions and then you can either buy the full version or just subscribe to unlock the free version. We had 2 subscriptions – one for online banking and one for manual transactions (import, manual entry etc).

We know this was confusing. We listened to your feedback. So we’re changing all this. This week we’ll release the new subscription based version of MoneyWiz (currently as an update to the existing one), which will work like this:

  • There will no longer be 100 transactions limit. The limits are 2 accounts, 1 budget and 3 scheduled transactions. No limit on regular transactions. No access to online banking though (without subscription).
  • Ads on mobile devices to help us support the development of MoneyWiz
  • To remove all limits and the ads, and to enable online banking you will still have to subscribe, but we’re re now doing just one subscription instead of two – “MoneyWiz Premium”. And MoneyWiz Premium will cost $5.99/month or $59.99/year. That’s almost half the price of the previous subscription where you had to buy 2 subscriptions each for $4.99/month or $49.99/year.
  • MoneyWiz will continue to function for all customers on the old subscription model but once we verify this model works (business wise) we’ll encourage everyone to migrate to it by cancelling their old subscription and signing up to the new MoneyWiz Premium.

71 Comments. Leave new

  • What does this mean for those of us who purchased MoneyWiz outright? Are there still plans to continue development on the paid version that’s not subscription based?

    Reply
    • Hi David,

      No changes for people who prefer the paid version, we’ll keep supporting it. Of course, the features outlined + the plans to fix all bugs apply to both – the paid and the free/subscription versions.

      Reply
  • So subscription will cost 20% more and will give access to the same set of features like the old one. Did I understand it right?

    Reply
    • Hi Ivan,

      No. Currently, to unlock all features of the free/subscription version of MoneyWiz you need 2 subscriptions:
      Online Banking – $49.99/year
      and
      Manual Transactions – $49.99/year

      Making up for a total of $99.98/year.
      Now, with the changes we’re rolling out there will be just one subscription that costs $59.99/year, which is 40% cheaper. Most people buy both subscriptions so they will have sensible decrease of the cost to use MoneyWiz. If you only had one subscription then there is slight increase indeed.
      Also, everyone is free to continue using their old subscription for as long as they want. The changes only affect new customers.

      Reply
  • Jason Hooper
    June 8, 2016 9:32 am

    So if I have purchased the apps on iOS and OS X and do not subscribe to the online function monthly or yearly – can I still use MoneyWiz as current model ongoing or do I have to also now pay a monthly subscription?

    Reply
    • Hi Jason,

      You can continue using MoneyWiz as it is. We’ll keep supporting the paid version too. The pricing changes that we’ve announced only concern the subscription version.

      Reply
  • Hello guys,

    It’s a relief to read about the Mission “Perfect”. I have used MoneyWiz for years, and I always wondered why there is still these annoying bugs…

    Indeed, some weeks ago I bought MoneWiz for Windows 10 and I got so disappointed that I made a request to refund, and I felt quite sad because I really wanted see my graphics and my budgets on my big PC screen.

    I hope you keep this mission in mind and fully accomplish it.

    If you do it, be sure that I (and a lot of other customers) will buy Windows version again.

    Thanks for focusing in quality!

    Reply
  • So budgets for income funtion will delay too? you’ve planned to release income budgets update for november 15, 2016.

    Reply
    • Hi Juan,

      Yes, this will be a little delayed. As we said in the article, we have to stop releasing new features for a bit (after the big update) and focus on improving stability & performance before we can continue.

      Reply
  • When will the new subscription model be launched? My subscription expired today.
    Will we be able to buy from your site or still have to go through apple/google stores?

    Reply
    • Hi Daniel,

      We plan to launch it on Friday and you will be able to buy the subscription via our website, Apple’s App Store and Google Play…whichever works for you best.

      Reply
  • So just to clarify, from now on, will not be 2 versions, “Purchase Based” and “FREE Trial+Subscription Base”, but only one. The Free version that will allow us for 2 accounts with unlimited regular transactions and with ads on mobile version. If we wanna have more than 2 accounts, online banking and no ads on mobile version, we will have to pay the subscription, that’s it?

    If only one version will remain, what version we will disappear(for the new users) and what icon will be? Will you guys remove the paid version and only have the actual free version available with a option of in-app purchase? If so, there will be no drama about updates, and buying the new app again, since our subscription will be working in the new MoneyWiz 3 (when the time comes, sometime in 2017) right?

    Reply
    • Hi Rui,

      Not really… both versions will remain, we are only simplifying the pricing of the free/subscription version + making it cheaper than it was. If you want to use the paid version that’s perfectly fine. If you use the subscription version though, one subscription gives you MoneyWiz on all platforms + all major updates are free.

      Reply
    • Hi Rui,

      Both the free & the purchase based versions will remain.

      Reply
  • Harold Gibson
    June 9, 2016 2:18 pm

    I bought the Android version for $4.99 and the online banking is also $4.99 per month or $49.99 per year. So after I am finished testing the online banking I was going to go to switch to the yearly rate to save a few dollars. If I understand your information correctly I will now have to pay an additional $10 dollars per year at the rate of $59.99 to get the online banking with the Android version I already paid for. Is that correct?

    By the way I am holding off getting the Windows version until you have added the Investment Accounts. With the Investment Accounts will you be able to get online access to the brokerage firms for auto updates and if so will there be an additional charge?

    Thank you.

    Reply
    • Hi Harold,

      No, if you already bought MoneyWiz for Android, your subscription won’t change at all. The changes only affect the free version (that’s free to download). There are no changes in the paid version.

      As for investment accounts – there will be no additional charges 🙂

      Reply
      • Harold Gibson
        June 9, 2016 6:28 pm

        Hi iliya,
        Thanks for the quick response. Question – Are you planning to run out a beta Windows version with the Investment Accounts ahead of your production release? If so I would be interested in taking it for a spin around the block and provide feedback.
        I used to develope software before I retired and as you know there is nothing like real world testing to find issues…….Thanks

        Reply
        • Hi Harold,

          Yes we plan to run a beta but not sure about Windows… we’ll surely do it for iOS and Mac though. But it’s ahead of time, right now we have this:
          Android: Receipt sync done, Tags to start next week
          iOS/Mac: Receipt sync and Tags done. Investment accounts to start next week
          Windows – Receipt sync to start next week, then tags.

          Once investment accounts are done on iOS/Mac we’ll port them to Android and Windows, and then after testing & bug fixing we can release the big summer update. But as you can imagine, these things take time because they require changes throughout the entire app (reports, budgets etc), and we are also catching up on Windows bug fixing and features due to the fact that we released the Windows app so recently.

          Reply
  • Is the subscription version some crappy web app or do you still download the full version w/ the monthly option? YNAB recently came out with a watered down web app and hasn’t bothered to update their Windows client. PLEASE, do not go that route. When YNAB did that I’m sure they lost a good number of customers.

    Reply
    • Hi Ricky,

      The subscription version is for the native apps (iOS, Mac, Windows, Android). We don’t plan to stop developing those. We may add web version in the future (if we have the resources to build it) but we insist on having the native apps too, simply because they provide a much better experience than a web version can.

      Reply
  • Why does my Windowa version keep loosing it’s sync to my Android version, when will this critical feature be rectified ????

    Reply
    • Hi Ian,

      There are some bugs related to sync in both Windows and Android, which we’re addressing in this week’s update. If the issues re-appear after this update, please let us know. Apologies for the inconvenience.

      Reply
  • Pete Appleyard
    June 13, 2016 6:38 am

    Any idea when the Windows subscription version will be available guys? 🙂

    Reply
    • Hi,

      I hope later today. It had to be last Friday but our QA team found a few bugs that the dev team is tackling today. If all goes well, it will be today, if not – tomorrow I guess.

      Reply
  • Can I know when is this version available to end user?

    Reply
    • Hi,

      I hope later today. It had to be last Friday but our QA team found a few bugs that the dev team is tackling today. If all goes well, it will be today, if not – tomorrow I guess.

      Reply
  • Law Chow Kuan
    June 15, 2016 2:04 am

    I am too excited to see the new version and hopefully it available as soon as possible.

    Reply
  • Will I be able to purchase Moneywiz 3 as a one off purchase or will it be subscription only? If one off, what will the prices be for each platform?

    Reply
    • Hi Olly,

      MoneyWiz 3 will be available as one off purchase too and it will cost the same price MoneyWiz 2 costs now ($4.99 on mobile, $24.99 on desktop, $49.99 for online banking).

      Reply
  • Thanks iliya, will the iOS app be a universal app and cover both iPhone and iPad for $4.99?

    Reply
    • Hi Olly,

      Yes. It is that way even now (ever since MoneyWiz 2.0) and we intend to keep it that way 🙂

      Reply
  • Does the update now fix the issues preventing the import if QIF files from Microsoft Money into the Windows version of MoneyWiz2?

    Reply
    • Hi Ben,

      The latest update fixed most of the import related issues. I don’t know about your particular case so I can’t tell for sure if it was fixed or not, but chances are that it was fixed.
      There are still a few issues we’re aware of though, that will be fixed over the next 2 weeks.

      Reply
  • Eduardo Mallet
    June 17, 2016 11:41 am

    Iliya, please, due to my poor English knowledge do you mind to explain what exactly means the expression “the ability to offset both income & expense categories manually” among the features you’re working on ?

    Reply
    • Hi Eduardo,

      Maybe it’s better to give an example…
      So, for example, you spend 100 EUR on gas/fuel for some trip. But you don’t spend it in one transaction, because you re-fueled 3 times for the total amount of 100 EUR.
      Then your employer reimburses you 40 EUR. The thing is that there is not a single transaction to which you can create a refund, because he reimburses you for 3 transactions (for the 3 re-fuelings), but he reimburses you with one transaction (income of 40 EUR).
      So essentially what you may want to do is to just offset the Gas/Fuel category so that a report would show that you’ve spent 60 EUR on it, not 100 EUR.

      One way to do it is this: create Expense for -40EUR (notice -> minus 40 EUR, not just 40EUR). This will simply subtract 40 EUR from the expense category, which will make reports in that category to show 40 EUR less spent on that category.

      The same principle applies for incomes.

      So offseting a category is just entering a transaction in this category with a minus sign.

      Reply
  • Eduardo Mallet
    June 20, 2016 4:28 pm

    Hi Iliya

    Please, tell me if the ‘offset’ will be useful also in the situation ahead :

    – Some days ago my wife purchased a product at the market. Suppose it cost $12 and I categorized it as “AA” in the MW.
    – The next day she decided to give back that product and buy some more products at the same market.
    – This time she bought 2 products, say categories “BB”, $25 and “CC”, $10.
    – The credit card total was then 25 + 10 – 12 = $23
    – I was unable to use the reimburse option as there wasn’t a “AA” category in the last purchase.
    – So, I used two transactions : One $35 expense and a $12 income

    Will the “offset” option let me put all that on a single transaction in order to match the credit card value ?

    Thank you once more

    Reply
    • Hi Eduardo,

      I don’t think the offsetting ability will be the best choice here. I think the proper way to handle this situation would be:
      1. Create a refund of the original expense transaction. That will properly offset the AA category (and when you create a refund out of an existing expense, it allows you to select the original expense category. Actually it’s preselected for you. To refund – just select the expense, then Options button then Refund button).
      2. Then create the new expense(s) of $25 + $10 in categories BB and CC.

      This way the reports will show properly.

      Reply
  • Hi iliya,

    Still no news on the latest update?

    Reply
    • Hi. No news in terms of release date. We still have a lot of work ahead because Android and Windows are yet to catch up, especially Windows.

      Reply
  • Hi iliya,

    Just wondering if I purchase the current version (both Mac & iOS), will I have to pay again in order to have version 2.5 ( the one with investment account feature) ?

    Reply
  • Hi iliya,

    I can’t wait for the next release, I’m really excited about the features coming, especially investments accounts and tags. But on the other side I’m really disappointed. When MoneyWiz 2 was released, you promised to make envelope budget more useful and add the functionality to add income to a budget. Till now I’m waiting for this feature. It so much necessary for me. I regularly need to add income to a budget. This is basic functionality of envelope budgeting. Now you are already planning MoneyWiz 3 but still no plans to add this feature. This is really disappointing. 🙁 I know I can use a workaround and manipulate the budget. But this is not cool! This way I can not see if there was money added to budget. And sometimes live is busy and you forget to add money to budget right away and after weeks I then have to guess if I added the money to a budget or not. This is really not practical. We need the ability to add money to a budget. It so basic I can not understand why you this feature wasn’t included right from the start. 🙁

    Nevertheless I love MoneyWiz and will be a loyal customer.

    Regards,
    Waldemar

    Reply
    • Hi Waldemar,

      Thanks for the feedback. Just to address the income budget thing – we really wanted to do it as part of MoneyWiz 2, but we just don’t seem to have the time for it now. Have in mind that we prioritize features based on popularity (how often they are requested), and income budgets is not among the most popular. It’s also not that trivial to do too, because it not only involves changes to budgets, but to reports too.
      Just one question – did you know there is a “Transfer money” option for budgets, where you can move money from 1 budget to another? Does this work as a workaround?

      Reply
  • May I know when the TAG function could be released out? I think there are many people like me need this function to control budget of travel. There are many and many other app include this normal function in market. And the update schedule of Moneywiz always delay again and again, it already make me consider to use another app…but I think Moneywiz is still the best app to bookkeeping, except for it doesn’t have TAG function. Could we know the exact plan date without any delay? Thank you so much for your hard working.

    Reply
    • Hi Bryant,

      Tags must be coming by the end of this month…we’ll make an announcement today actually.

      Reply
  • Are there a date for the 2.5 version?

    Reply
    • Hi Paulo,

      Hopefully by the end of this month, but without investment accounts due to delays. Investments will come in 2.6. In 2.5 we’ll releaes a bunch of new features though – tags, receipts sync, ability to disable auto-categorize for OB transactions, payee aliases etc… We’ll actually make an announcement about it today.

      Reply
  • Hi, is there any promotion plan or like “old customer benefit” for current MoneyWiz 2 users to upgrade to MoneyWiz3 expected to launch next year?
    I really don’t want buy duplicate at the same price for doing accounting. Thank you. If not, I prefer to only buy the new version instead.

    Reply
  • If I purchase the app for two android devices and one windows based PC, will I be able to sync between those three devices without any additional monthly charges?

    Reply
    • Hi Harold,

      Yes, the sync between devices is completely free as long as you have MoneyWiz on these devices 🙂

      Reply
  • Just updated and see that there are Spreadsheets available in the reports. When I click on them, I am offered the opportunity to enter parameters, but no report is generated, unlike the other report buttons. Am I the only one having this problem?

    Reply
  • Hello!

    I purchased MoneyWiz 2 for iOS and yesterday downloaded the Windows Moneywiz 2 version and got them sync up. Will my windows version remain free? or will I have to pay later on? I see it is also selling for $25 i think, is there any difference?

    Reply
    • Hi Micheal,

      If you bought MoneyWiz 2 for iOS and not bought MoneyWiz 2 for Windows or the MoneyWiz Premium subscription then MoneyWiz 2 for Windows will eventually ask you to activate it.

      Reply
  • Hi there. We bought the Money Wiz app outright before the subscriptions model was put in place. However, the app won’t let me add more than 2 accounts now.

    Reply
    • Hi Brian,

      Please e-mail our support at [email protected] and tell them on what platform you bought MoneyWiz and the will help you figure out what went wrong and why do you get this limitation when you should not.

      Reply
  • Are Thereza date for 2.6 version?

    Reply
  • Gareth Doherty
    February 1, 2017 7:48 pm

    Hi, sorry is this has been asked previously. Too many comments to read above.

    I have paid for the android version. Within that app the subscription fee is £3.86/month.

    On your website it says subscription is £5.99/month.

    Why is there a difference?

    Reply
    • Hi Gareth,

      We currently have 2 versions of MoneyWiz. One is what we call “the paid version” where you pay for MoneyWiz separately on each platform but you can use it with no limitations except that if you want to use the online banking feature you need to additionally subscribe for it. Also major updates (such as MoneyWiz 3) are paid too. The other version is MoneyWiz Premium, where you pay a single subscription that gives you access to MoneyWiz on every platform with all its features including online banking.
      The subscription you see from Android is the one for online banking only. The one you see on our website is for MoneyWiz Premium.
      If you prefer to use MoneyWiz Premium (one subscription gives you MoneyWiz on all platfroms, major updates are free, online banking is included) then you can ask our support for refund on the Android purchase and simply get the one from our website.

      I am sorry this is causing confusion… we will simplify this dramatically with MoneyWiz 3.

      Reply
  • hi,
    I have purchased premium versions for Macbook Pro , iPad and Galaxy S7 edge.I am using MoneyWiz for more than a year now. If I want to go for subscription base(for online banking), then what would be the charges and did I wasted money by purchasing Premium edition…???

    Reply
    • Hey there,

      If you are using the Premium version (and you have subscribed to it) then you are already on the subscription version… i.e. there are no other subscriptions necessary. Just one subscription to MoneyWiz Premium gives you access to MoneyWiz on all platforms, with all features (including online banking).

      Reply
  • Jesus Gonzalez
    September 6, 2017 3:30 pm

    Hello. Any updates on the release of v3? I want to purchase the paid subscription for 2 platforms, but we are near v3 that I would have to pay twice if I purchase now.

    Reply
    • Hi,

      Don’t expect MoneyWiz 3 soon… it will take us more than 6 months. What I recommend is just getting the MoneyWiz Premium subscription. Then you can use MoneyWiz on any platform and all updates (including MoneyWiz 3) are included/free.

      Reply
  • Gabriel Serrano
    July 22, 2020 9:49 pm

    Hola al ingresar con mi usuario y contraseña me manda este error Referencia a objeto no establecida como instancia de un objeto

    Reply

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