Adding Accounts (Aggregation)
Answer: FinanceWorks maintains links with about 16,000 other financial institutions in the United States. If you have accounts at any of these participating financial institutions, you can add them here. Start by typing your other financial institution's name in the search box, and a wizard will walk you through the process.
Answer: Most financial institutions allow you to add multiple kinds of accounts. The only accounts not allowed in FinanceWorks itself are tiered commercial loans or general ledger accounts. If you don't see your car loan here, that's because your secondary financial institution has opted not to make it available.
Answer: For your accounts at Empire National Bank, 120 days of history are available immediately. When you add accounts at other financial institutions, up to 90 days of history are available immediately. The exact number of days depends on that financial institution.
Answer: Yes, there are some firms that you can add. Please note that with investment accounts, you won't be able to see every detail of your holdings in each security; you can only track some limited transactions and your balances.
Managing Outside Accounts
Answer: Wells Fargo is unusual in that you must manually update your account information. Go to your Wells Fargo account, and click the link that says "Refresh this Account". You'll have to log in, then the information will update. Consumers wishing to add ING Direct accounts will need to first create an Access Code on the ING Direct website. The Access Code will then be entered when adding or updating the account in FinanceWorks.
Answer: Yes, you must change your Internet Banking password for each account held at the bank/credit union that you view in FinanceWorks. If you don't, FinanceWorks can't refresh that account information. Go to each account and click on the "Change Sign-in Information" link.
Answer: It depends. If the other financial institution happens to also be a Digital Insight client, then when adding that account, FinanceWorks displays the MFA challenge screen after you enter your user ID and password. Either enter the answer(s) to your challenge question(s) or retrieve the email pass code and enter that. If the other financial institution is not a Digital Insight client, then the following types of MFA are supported and will be displayed next: Secret Question with MFA cookie and Key Pad login.
Answer: FinanceWorks obtains transactions nightly. The exact time varies daily.
Answer: If you want to view transactions from today, click on "Refresh this Account". All your accounts at that financial institution accessible by the same sign-in information will be updated at the same time. You can also click the Refresh button on the Home page (under Accounts) to manually refresh all accounts.
Answer: There can be a one-day delay, depending on when your credit union/bank makes transactions available.
Answer: With Projected Balance, you can enter upcoming transactions to see what you'd have left in an account if expenses or deposits scheduled through today would clear your financial institution immediately. Because reminders are also part of Upcoming Transactions, they are included in Projected Balance.
Answer: Projected Balance is calculated by taking your current balance and adding or subtracting any upcoming transactions you've entered. You can't edit it per se, but you can change it simply by adding transactions.
Answer: Click on the account name hyperlink to view transactions for one specific account. Click the Transactions tab to view all transactions. You can also select your date range.
Answer: You're correct that FinanceWorks will double those expenses. To keep that from happening, you should categorize the checking account expense as "Transfer Out". FW will then exclude that expense from your spending reports.
Answer: You should categorize the return as an expense, with the same category as the purchase. So if you bought a lawn mower and then returned it, by categorizing both the purchase and the refund as "lawn and garden" expense, they will cancel each other out in your spending reports.
Answer: Click on the transaction you want to delete within the list of transactions for that account, then click the Delete link at the top of that table.
Answer: First of all, remember that if you change one transaction now to "lawn and garden", all future expenses will be categorized the same. In addition, whenever you re-categorize a transaction, FinanceWorks asks if you want to re-categorize all past transactions to that payee.
To re-categorize multiple transactions at once, go to Trends, select your desired date range and check the boxes for the desired accounts. Below the pie chart, click the View by Payee radio button. In the table, click the Payee that you want to re-categorize, and select the new category from the dropdown. Click anywhere else on the page and then answer the prompt to keep your changes.
Answer: Not directly. You download them first into .csv format, then import into Excel. When you use the download feature, it downloads all transactions in the selected date range, regardless of whether they've been previously downloaded.
Answer: FinanceWorks selects your four most active categories. Any categories that are for fixed expenses, like Rent, are not selected. You can add and delete any categories you wish.
Answer: FinanceWorks goes back three months from today's date, then starts at the first of that first month. It adds up spending for that category, then divides by the number of months that actually had activity. "Target" would be a better way to think of this.
Answer: It takes into account all your accounts (both at your host financial institution as well as accounts at other financial institutions that you've set up to display in FinanceWorks), plus any Properties you've entered, such as your car and house.
Answer: There's no limit. You can even have multiple properties of the same type, such as multiple cars. And they do not have to be actual properties. For instance, you can add a personal loan that's not tracked in FinanceWorks.Tracking Spending (Trends)
Answer: Yes, there are multiple pie charts you can look at. For instance, you can look at the spending for one account by going to that account and clicking the Pie Chart tab. However, it sounds like you want to track your spending across all accounts. On the Home tab, you'll see a pie chart for your spending in the period you selected. To drill down, click on the Trends tab at the top. This displays the same pie chart; however, in this view, you can click on a "piece" of the pie, then click View Transactions on the table below for that category and look at the details for that spending.
Answer: How long have you been using FinanceWorks?
If their answer is anything less than 9 months: When you first started using FinanceWorks, up to 90 days* of your account history displayed immediately. In order to get a year's worth of spending report data, you must use FinanceWorks for an additional nine months. Remember that some of the accounts you added at other financial institutions may not have started off with 90 days, so it may take longer to build up to a year's worth of data for them.
If their answer is anything greater than 9 months: Go to the Trends tab. You can drag the start and finish dates of the adjustable bar across the top of the screen and set the start date to a year ago. A pre-set list of date options can also be chosen from the dropdown menu.
Answer: Yes. Simply click on the + Add link next to the word Category wherever you see it.
Bills & Reminders
Answer: Yes, click on the Make Payments link under Other Tools to access Bill Pay. The Reminder section in FinanceWorks is a great way to remind you to set up or pay those bills! This list builds based on past transactions. You can delete reminders for payments that FinanceWorks thought were regular payments. And you can add your own bill reminders.
Answer: Yes, click on the Make Payments link under Other Tools to access Bill Pay.
Answer: FinanceWorks creates reminders for you based on past transactions that have occurring regularly. If an existing reminder isn't needed, you can delete it.
Answer: FinanceWorks helps you prepare for taxes in two ways. Tax Watch is available to you throughout the year, and a link to TurboTax Online Banking is available from December 15 to April 16. (Your financial institution may not be offering TurboTax Online Banking, in which case the link to Tax Watch appears under Other Tools.)
Answer: Tax Watch by default displays your information on Charity/Donations and Childcare/Daycare, with all those transactions for this calendar year listed out already. You can add additional categories by clicking on the Find More tab. Keep in mind that the history in Tax Watch only goes back as far as your history in FinanceWorks. So if you started using FW partway through a tax year, the tax information in Tax Watch may be incomplete. Instructions at the bottom tell what you should and should not use this tool to track, mainly deductions for which you receive a tax form.
Answer: See the "System Requirements" document to best assist the consumer asking this question.
Answer: If this was your very first time logging into FinanceWorks, it is slow because it's compiling all of your account information at Empire National Bank. If it's not your first time but it's been awhile since you logged in, it will take awhile to compile the transactions that occurred since your last login. We recommend you log in about once a week to keep the login process fast.
Answer: FinanceWorks times out after 20 minutes of inactivity. Remember it's a single sign-on product through Empire National Bank's Internet Banking, so if you've gone back to your Internet Banking session and are working there, you will time out of FinanceWorks after 20 minutes.
One thing to be aware of: When you log out of Internet Banking, the browser window that displays FinanceWorks does not close until that 20 minutes of inactivity mark has been reached. So someone else can view the information displayed in that window, which may be a concern on a public computer. However, if that person tries to do anything or navigate anywhere else within your FinanceWorks session, they will not be able to because the session itself was ended when you logged out of Internet Banking. Of course, you can close the FinanceWorks window yourself.
Answer: Yes you should, because then FinanceWorks will stop trying to aggregate your information from all your financial institutions. Log into FinanceWorks and click the Settings link in the upper right. Select the Profile tab and you can unenroll yourself from this screen.