Introducing Historical Tracking (COMING SOON)
Please note all of the below is currently not yet available and is coming soon.
The #1 key improvement our users have repeatedly asked for is the ability to track their financial performance.
To allow our users to track financial performance on the Moorr platform, we’ve done a significant amount of replumbing in the background to ensure that historical records CAN be recorded, and then displayed in a series of significant insights in the future. The best part is that by doing this replumbing, we’re able to build an almost endless number of insights based on your financial data with ease!
These insight dashboards and tabs are currently being built and will be available in the near future.
Below are some of the example insight concepts that we’re working towards to give you more of an understanding of the power of MyFINANCIALS.
Dedicated Property Dashboard (Draft Concept)
Insights within a Card (draft concept)
Historical Changelog (COMING SOON)
With the implementation of historical tracking, it becomes ever more important for you to have the ability to edit past historical values to ensure the utmost accuracy.
By editing these fields you’re able to ensure that the insights we present to you to properly track your financial performance.
As standard, the value displayed within the card should always be the latest value you entered to reflect the latest position.
This then enables accurate insights to be reflected in your charts.
As At Dates
When viewing a Financial Card’s data, the default date displayed for each value will be the latest value you entered.
For example, if the Current Value of the Property Asset ‘123 Smith’ below was last edited on 17 Jan 2023, this is the Current Value of the Card As At 17 Jan 2023.
So if I want to know what the value of my Total Assets is in 30 June 2023 as an example, the value for 123 Smith Street has not changed since 17 Jan 2023, so for the purposes of obtaining the total value of Assets at 30 June 2023, it will use the latest figure from $500,000 from 123 Smith Street within it’s calculation.
As a default, when editing data, we’ll automatically adjust the As At date to today to save you time.
Any data prior to this date that you wish to edit can be edited using the historical side tray, accessible by clicking the clock icon next to the As At date.
The Significance of Archiving Cards
With the implementation of historical data capture, it now becomes important to determine what sort of information you want to see in your insights.
In most cases, if a Financial Card is no longer relevant, you’ll want to archive the card to maintain the historical data this card holds, but recognise that it is no longer relevant to your situation going forward.
Let’s say for instance you paid for Child Care Fees for one of your two children, Jack over the last two years, for which there were varying expense fees over that period of time. However, Jack has now moved into Primary School and child care fees are no longer needed!
If you were to permanently delete your Child Care Fees card for Jack, you would lose all of the historical records this card held, and thus lose the tracking of the financial situation during that time. Instead, you would archive the card, which recognises this card as no longer relevant to your financial situation from hereon out.
Read more about archiving, restoring and deleting a card here.