How Multi-Profiles Work
Tutorial Guide: How 'Multi-Profiles' work in Fina
Fina is a powerful financial tracking tool that allows you to link and manage your financial accounts seamlessly. One of its standout features is the ability to create and manage multiple profiles, providing a structured way to organize different sets of financial data separately. This guide will walk you through everything you need to know about using multiple profiles in Fina.
Understanding Profiles in Fina
In Fina, a profile is essentially a container that includes:
Accounts: Your linked financial accounts (bank accounts, credit cards, etc.).
Transactions: All transactions associated with the linked accounts.
Categories: Customizable categories for organizing transactions.
Rules: Automation rules for categorizing transactions.
Each profile operates independently, allowing you to have separate settings and data for different aspects of your finances.
Why Use Multiple Profiles
What are multiple profiles used for?
Multi-profile support opens up possibilities for clear separation of accounting while maintaining the ability to do mixed-reporting on those separated financial accounts.
A profile is simply a container used for separating out your financial accounts. It allows a user to clearly separate accounts into unique buckets that have their own category schema and transaction cleaning process. This means you can keep all your financial accounts under one roof (one Fina account) for ease of use & reporting, but for accounting purposes your accounts don’t get mixed together.
The two most common use cases for multi-profile support are separating ‘Business’ and ‘Personal’ accounts OR separating a spouse / family members accounts with the desire to track them all under one primary Fina account.
Separating Personal and Business Finances
For individuals who have both personal and business finances, keeping these accounts and transactions separate is crucial for:
Accounting Clarity: Simplifies bookkeeping by keeping personal expenses separate from business expenses.
Legal Compliance: Ensures adherence to regulations, especially if operating under a legal entity like an LLC.
Tailored Categories: Allows for different category schemas suitable for personal or business accounting.
Managing Multiple People's Finances
If you're responsible for managing finances for:
Family Members: Spouses, children, parents, or other relatives.
Clients: As an accountant or financial advisor.
Using multiple profiles enables you to:
Maintain Privacy: Keep each person's financial data separate.
Organize Efficiently: Customize categories and rules for each individual's needs.
Simplify Reporting: Generate reports specific to each profile.
Creating a New Profile
Step-by-Step Guide
Access Profiles: In Fina, navigate to the Profiles section.
Add New Profile:
Click on + New Profile.
Name Your Profile:
Enter a descriptive name (e.g., "Business", "Personal", "Test Profile 2").
Set Transaction Review Option:
Enable or Disable the Manual Transaction Review feature.
Enabled: You'll need to manually review and approve transactions.
Disabled: Transactions are automatically categorized without manual review.
Create Profile:
Click Create to finalize the new profile.
Your new profile is now ready to have accounts linked and customized according to your needs.
Linking Accounts to Profiles
When you link financial accounts in Fina, you can assign them to specific profiles.
Link an Account:
In the desired profile, click on Add Account.
Follow the prompts to link your financial institution.
Assign Account to Profile:
During the linking process, ensure the account is assigned to the correct profile.
View All Accounts:
Use the account toggle to view all accounts across profiles.
This is useful for an overview of all your financial accounts.
Moving Accounts Between Profiles
If you need to move an account from one profile to another:
Access Accounts List:
Go to the Accounts section.
Select Account:
Choose the account you want to move.
Change Profile Assignment:
Click on the profile assignment option.
Select the new profile you want to move the account to.
This flexibility ensures your accounts are always organized appropriately.
Customizing Categories and Rules
Each profile in Fina has its own set of:
Categories: For organizing transactions.
Rules: For automating transaction categorization.
This separation allows for tailored categorization suited to the nature of the profile (personal, business, etc.).
Importing Categories from Another Profile
To save time, you can import categories from an existing profile:
Go to Categories:
In the new profile, navigate to Categories.
Import Categories:
Click on Import Categories.
Choose From Another Profile.
Select Source Profile:
Choose the profile whose categories you wish to import.
Include Rules (Optional):
Decide whether to include transaction rules along with categories.
Complete Import:
Confirm and complete the import process.
Alternatively, you can:
Share Categories via Link:
Copy the sharing link from the source profile.
In the new profile, choose Import Categories > From External ID.
Paste the link and import.
Reporting Across Profiles
Fina's reporting capabilities allow you to generate insights from one or multiple profiles.
Configuring Blocks for Multiple Profiles
When creating or editing a block (a data visualization element):
Edit the Block:
Click on the block you wish to edit and select Edit.
Select Profiles/Accounts:
In the block settings, you'll see an Accounts Selection area.
Choose which profiles or specific accounts to include.
All Profiles: Combines data across all selected profiles.
Specific Profiles: Select only the profiles you wish to include.
Customize Data Range and Filters:
Set the date range and any other filters as needed.
Save Settings:
Apply the changes to update the block's data visualization.
Editing Transactions in Reports
When viewing transactions within a report:
Mixed Profiles:
If the block includes transactions from multiple profiles with different category schemas, you cannot edit the categories directly in the report view.
Single Profile:
If the block includes transactions from a single profile, you can edit transaction categories directly.
Tip: To edit transactions across multiple profiles, consider viewing each profile separately.
Conclusion
Using multiple profiles in Fina offers a robust solution for organizing and managing different sets of financial data. Whether you're separating personal and business finances or overseeing the finances of multiple individuals, profiles help maintain clarity, legal compliance, and efficient accounting.
Key Takeaways:
Profiles as Containers: Keep accounts, transactions, categories, and rules organized per profile.
Flexibility: Easily move accounts between profiles as needed.
Customization: Tailor categories and rules specific to each profile's needs.
Reporting: Generate reports across single or multiple profiles with customizable blocks.
Efficiency: Import categories and rules from existing profiles to save time.
By leveraging multiple profiles, you can enhance your financial tracking and gain better insights into each aspect of your finances.
For more tutorials and to explore Fina's features, visit fina.money.