Wednesday, March 23, 2011

Know Your Future Balance with Pending Items

Today, we are making a new feature available in Web Branch. The new feature is called Pending Items and is our latest enhancement to Money Management Tools.

Pending Items shows you an estimated future balance. It uses upcoming Web Pays and Web Branch transfers to project future balances on your accounts.You can increase the accuracy of this balance by adding additional pending items, such as recurring income or expenses.

The future balance can be used to help manage cash flow and identify an opportunity to make a purchase or add to savings or if an account is in danger of overdraft. The new feature can also be used as an online check register.

The best way to get started using this feature (and to make it as accurate as possible), is to use the suggested pending items tool. We'll analyze your recent history and present items that have occurred multiple times. All you have to do is choose which ones you want to include and review how frequently they occur.

From there, you can always add individual items to your pending list. The easiest way to do this is to find the item in your past history and choose "Create Pending Item" from the toolbar on the right (see the first screenshot above). You can also easily edit the amounts of existing pending items by clicking on them.

Pending items will be automatically matched as the actual transactions hit your account. The description, date and amount have to reasonably match. If an item doesn't match, it can easily be removed.

Along with the recurring items, you can also add one-time items like paper checks you write. We'll also automatically include Web Pay paper checks so your balance will more accurately reflect these items until they clear.

You can easily customize which items you want to see and how far into the future we will project by clicking on "Options" in the upper right.

We are really excited to bring this new functionality to Web Branch. With just a few minutes of effort, you can have peace of mind in knowing how much money you'll have in the future and a better overall picture of your financial situation.