Last Friday, the personal finance and budgeting service, Mint.com, released an upgraded version of their iPhone app. Now users can manually add transactions, and on top of that use the geolocation features of the app and iPhone to locate input data for where they made the transaction.
Basically, the only required typing for the app is adding numbers. Mint’s app was selected as one of TIME Magazine’s 50 Best iPhone Apps of 2011.
By using Mint.com, members can have the free service download all their online banking and other financial transactions, and in turn use that information for creating a powerful budgeting system and setting up financial goals. The service can also help users save money, pay off credit cards, make financial investments, and plan for retirement.
Though Mint automatically downloads online transactions, the new upgrades are not only useful for cash transactions, but they also serve the purpose of adding and keeping track of pending transactions not yet posted to a respective account—e.g., bank, credit or debit card. When the transaction you added manually is updated in the respective account, Mint will automatically reconcile the pending transaction. If there’s no match, you will have to manually reconcile the pending spending to your account, Mint says in their article about use to the new feature. You can also of course delete manual transactions when they are no longer needed.
These features are one of many that dedicated Mint users have been requesting for quite sometime. Others include the ability to record receipts.
(Source: CNET News)