Every bank account and credit card in LifeAxis has a balance history chart so you can see at a glance whether balances are trending in the right direction.
Balance modes
Each bank account and credit card uses one of two balance modes:
Manual — you enter the current balance directly. LifeAxis displays whatever you enter and timestamps it. A staleness indicator appears on the dashboard card when the balance has not been updated recently, so you know when a refresh is needed.
Calculated — LifeAxis derives the balance from a starting balance plus all transactions recorded against the account. The balance updates automatically as you log transactions. This mode is more accurate when you use LifeAxis to track your spending.
Switch between modes at any time from the account settings. Switching to calculated mode requires a starting balance to work from.
Comparing daily balance changes
LifeAxis compares each account's current balance against the balance recorded at the previous update. This gives you a daily change indicator — a positive or negative figure that shows how the account has moved since you last recorded it. Use this to spot unexpected drops, confirm a payment has cleared, or check a savings balance is growing as expected.
For accounts in calculated mode, the comparison is based on the running transaction total since the last recorded day.
Balance reconciliation — statement check vs manual tracking
For accounts in manual mode, the reconciliation tool compares your manually entered balance against the balance calculated from your logged transactions. This is the statement check: it tells you whether what you have recorded in LifeAxis matches what the underlying transactions show.
If there is a discrepancy, the tool helps you identify the source:
- A transaction you have logged has not yet cleared in your bank
- A payment has gone out that you have not yet recorded as a transaction
- A balance entry was made on an approximate figure rather than the actual statement balance
Running a reconciliation after receiving your bank statement keeps your net worth figure reliable and flags any gaps in your transaction history.
Balance history chart
Every account keeps a history of balance entries over time, displayed as a line chart. Hover or tap any point to see the balance on that date.
For bank accounts in calculated mode, the chart is generated from transactions. For manual accounts, each time you update the balance it is recorded as a history point.
Overdraft tracking
For current accounts, you can record the authorised overdraft limit. This appears on the account card so you can see at a glance how much headroom remains.