Frequently Asked Questions

Ourobo Wallet is a personal finance manager that, apart from the regular record-keeping, also provides analytics built-into the app, that enables you to analyse your current state of affairs at glance, without the need to dive into the world of numbers.

The application itself, with all of its analytical features is free. 

Upon the first startup, application invites you to the first time setup wizard, which explains you the elements of your future accounting, allows you create or remove accounts, add new currencies and categories.

The key goal of that "mimic", so to speak, is to allows you better understand and track your financial state. The structure of your accounting within the app should match your actual finance actives, which will ease your day-to-day transaction entry routine (you will know exactly which account you have spent or earned money on) and your future budget analysis (for instance, you may want to know, how much cash you have spent last month, and you know that the only cash you have in stock is in your wallet (the actual wallet, not the virtual one :))).

Account is basically an entity that stores money. Nothing more to it.

Application enables you to manage multiple-currencied actives altogether, without the need of using the exchange rates when you are documenting your expenses. Which means, when you are noting an expense or income, you specify the exact currency, in which that expense or income event took place.

Reporting section (specifically, the Dashboard tab in your app), has to present you the graphical analytics in one currency, due to the fact if we display all aggregated information in different currencies, it will be more of a mess, rather than the analytics.

That's why there is a distinction between Reporting Currency and other currencies that you are using in your app. You can always change your reporting currency by simply clicking desired currency in the Currencies tab.

Please note, that although Reporting Currency is used to render the graphical content of the charts, almost always, you still retain the capability to drill-down to the original values.

Dashboard is basically a reporting module of the app. While most of the tabs that you see in the application are for the data entry, this is one unique tab that enables you to see the totals and charts, configured as per your preference.

Please note that each dashboard tile, that you add, has a set of properties (in most of the cases) that allow you to tailor your reporting experience as you see fit.

Also note, that each dashboard tile, apart from its properties, also has the drill-down capabilities (in most of the cases), that allow you to either view a full-screen chart, which also has a couple of drill-down features, or see a window with the details of what is displayed on the main layout.

Depending on your situation, you may wish to synchronize your data from one device to another. Sync is a service that we offer within the application to archives this task. Be advised, that this is a paid service and requires a subscription.

It is, very much. We are using the most modern encryption methods in transit and storing the data on our secure servers for as long as user wishes.

At any point in time, should user wish to delete their data from our cloud servers, they can archive it by simply choosing Delete Account in the settings menu. The moment we receive the request, your data will be marked for deletion. Be advised, that deletion time varies, but never exceeds 24 hours mark.

No. The deletion procedure is permanent and irreversible.

Even with all of the documentation we've provided to ensure a smooth start, doing things right from scratch is not easy. If you have decided, that you have started off from the wrong foot, you have the option to do a Fresh Start (this option can be found in the Settings tab). This option performs a clean-up of all the data you have stored in your app, and restarts the Setup wizard, so that you can configure your application from scratch.

No, it does not. If you had your sync enabled in the application, that data, synced to the cloud, will remain intact and ready for re-syncing, even if you erase your application data.

No. Your application is a fully featured experience that provides all analytics in-app, without the need to access the web ui.

Exchange rates are updated on a daily basis. Depending on the state of your device, they might be updated earlier or later.

Transfer is a special type of transaction that serves two purposes:

a. Perform a transfer of some amount of money from one account to another

b. Perform a currency exchange from one currency to another.

Please note that currency exchange may be performed in one account, or from one account to another.