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MoneyHub Spend Tracker

MoneyHub Spend Tracker
MoneyHub Spend Tracker
When you register for Spend Tracker you authorise illion Open Data Solutions to retrieve information from your chosen financial institutions on your behalf. Once the information has been gathered for you, it will then be displayed on an easy to read dashboard where you can monitor transactions, track your money and tag taxable transactions to save time and money at tax time.
Illion is a trusted name in financial services and an established partner of H&R Block. They are the leading independent provider of trusted data and analytics products and services in Australasia.
 
You need to provide credentials when you register for Spend Tracker so that we can retrieve accurate information and provide you with a true snapshot of your financials. Your credentials are stored by illion Open Data Solutions with bank level 256-bit encryption, secured by 2048-bit keys and adheres to all Australian privacy laws. 
 
Your privacy is our top priority and illion Open Data Solutions apply the same level of security to all of your financial information and personal details as your bank. Data is encrypted following industry best practices.
One of the ways in which we ensure enhanced security for your account is by using two-factor authentication. A security tool will send a code to your mobile phone. This code must then be entered when prompted to do so. This provides you with an extra layer of security, which is important when it comes to protecting your personal and financial data.
No, money cannot be transferred via Spend Tracker. The platform has view only access, which means that you can only view the information retrieved from financial institutions.
Simply log in to MoneyHub, go to the Spend Tracker page and follow these three steps:
  1. Select your chosen bank or financial institution
  2. Add your credentials
  3. Choose the accounts you would like to view
That’s it, you’re ready to go!
No, it’s up to you how you want to manage your accounts. Choose to connect all your accounts at the beginning so you have full visibility or add new institutions and accounts at any time via the Spend Tracker manage account page. The platform is designed to be flexible so you can get what you need, when you want it.
In the same way that it is easy to add accounts at any time, you can also remove accounts from Spend Tracker any time you want to. All you have to do is go to the Spend Tracker Manage Accounts page and following the instructions. ​
Every time you log into Spend Tracker, your details will be updated so you always have the most relevant information available to you.
You can view the full list of available institutions via the institution drop down on the Spend Tracker page. Please note, this list may change. So if you work with a bank that is not currently on this list, please check back later to see if it has been added.
Tagging taxable transactions is one of the best features of Spend Tracker, as it will allow you to be prepared when it comes to tax time.
 
To tag a taxable transaction, all you have to do is:
  1. Go to your transaction line
  2. Click on the ‘edit’ icon under the “Potential Tax Deduction” header
  3. Mark the single transaction as a potential tax deduction
  4. Or you can choose to apply the rule to all similar transactions
No problem! If you think only part of your transaction is potentially taxable, we still recommend you tag it in the tracker. This is the best way to avoid missing any tax deductions as they will all be included. You can then determine the exact percentage of the transaction that is taxable when you work with your tax consultant at the end of the financial year.
Yes. When you look at your list of transaction in Spend Tracker, you can easily filter the transactions to only show potential tax deductions. You can also set the filter to a specific date range, so you will only see potential tax deductions during the chosen time frame. Once it’s showing your chosen view, you can download the full list.
Yes. When you look at your list of transaction in Spend Tracker, you can easily filter the transactions to only show potential tax deductions. You can also set the filter to a specific date range, so you will only see potential tax deductions during the chosen time frame. Once it’s showing your chosen view, you can download the full list.
When tax time rolls around, all you need to do is:
  1. Download your list of potential tax deductions
  2. Then take this list with you to your tax appointment

If you have chosen to do your tax virtually, simply upload it into our secure client portal and your consultant will be able to access it from there.
 
You can rename your transaction categories with a nickname any time you like.
 
All you have to do is:
  1. Go to the Categories page, which you can access on the right-hand side menu of Spend Tracker
  2. Select the category you’d like to rename
  3. Enter the nickname for your chosen category
  4. Click ‘Add nickname’

Yes, you can change a provider’s category any time you like to better suit your needs.

All you have to do is:

  1. Go to your transactions page
  2. Go to the transaction you want to rename and click on the ‘edit’ icon next to the category to view the full details
  3. Choose a revised category from the dropdown list
  4. Click ‘Submit’
We are constantly reviewing the categories assigned to providers and so it is possible that these may be changed at any time. We will not however change any transactions that you have re-categorised yourself!
Absolutely, you can customise your view of spending for a specific period or choose from the pre-set list of options.

To view spending for a specific period, all you have to do is:
  1. Click ‘Filter your transactions’ at the top of either the Spend Tracker or Transactions pages
  2. Under ‘Refine date range’, select the period over which you want to view your spending (Notice that you can put in a custom period)
  3. Click ‘Refresh’ to see results
N.B. Custom date range may only be selected for periods within the last 12 months. To access dates further back, please use the pre-set financial year selections.