About Money Simple
Money Simple lets you see where your money goes, and identify strategies that can help you make your money work harder for you. Money Simple is streamlined and easy to understand.
Money Simple is brought to you in conjunction with illion Open Data Solutions. illion Open Data Solutions’ proprietary technology retrieves data from leading financial institutions. By signing up to Money Simple you authorise Credit Simple and illion Open Data Solutions to retrieve information available from your chosen financial institutions, using the credentials you provide.
The credentials you provide are used solely to retrieve data on your behalf. Your credentials are stored by illion Open Data Solutions with bank level 256-bit encryption, secured by 2048-bit keys.
Credit Simple and illion Open Data Solutions systems are independently tested and audited by external security experts. Data is encrypted using industry best practices.
We take your security very seriously. For enhanced security whilst using Money Simple you are required to provide your mobile number. A code will be sent to your mobile which you will need to enter when prompted to do so.
No, it is not possible to transfer money via Money Simple. You are only able to view information via Money Simple.
Simply log in to your Credit Simple account, go to the Money Simple page and follow the steps.
- Select your institutions
- Add your credentials
- Choose your accounts
- See your spend
No, you can add new institutions and accounts at any time via the Money Simple Manage Accounts page.
You can remove your accounts from Money Simple by navigating to the Money Simple Manage Accounts page and following the instructions.
Your information will be updated upon each log in to Credit Simple to keep your Money Simple information up to date for you.
You can view the available institutions via the institution drop down on the Money Simple page.
Managing your transactions
You can create nicknames for your categories via the Categories page. To do this:
- Go to the Categories page, accessible via on the right-hand side menu of Money Simple.
- Select the Category you’d like to nickname.
- Enter the nickname for your chosen category.
- Click the ‘Add nickname’ button.
Yes, you can change a provider’s category.
- Go to your Transactions page.
- Click on the transaction to view full details, then click ‘Change category’.
- Choose a revised category from the dropdown list.
- Click the submit button.
We are constantly reviewing the category assigned to providers and these may be changed at any time – however we will not change any transactions which you have recategorised.
Yes, you can customise your view of spending for a specific period.
To view spending for a specific period:
- Click ‘Filter your transactions’ at the top of either the Spend Tracker or Transactions pages.
- Under ‘Refine date range’, select the period over which you want to view your spending. Notice that you can put in a custom period.
- Click Refresh to see results.
To tag a transaction as being potentially tax deductible,
- Go to the specific transaction
- Click on the ‘edit’ icon under the “Potential Tax Deduction” header
- Tag the transaction
To save yourself time & effort, you can choose to apply the same rule to all similar transactions as well
Yes, please keep your receipts safely for expenses you think could be a possible deduction. In case you do not have a copy of the receipt, please check with the supplier of the receipt if they can provide you with a duplicate copy.
If only part of your transaction is potentially taxable, you can tag transactions you think might be partly or fully taxable. Following this, you can work out the exact percentage of the transaction that is taxable when you speak to your tax consultant.
You can look at your list of transactions in Money Simple and filter by potential tax deductions. You can also set the filter to a specific date range to see only potential tax deductions during the date range.
You can download your list of potential tax deductions and take this list with you to your appointment with a tax consultant.
We do not provide any tax advice. We provide a way to tag transactions that you think may be tax deductible. The decision of which ones to include in your tax return are ultimately yours and your tax consultant’s, if you do go through a tax consultant.
You can view transactions like interest earned, rent earned, dividends etc from the various accounts that you have linked to your Money Simple, and tag them as such so that it is easy for you at Tax time.
You can tag transactions at any time you prefer, and set different nicknames of your choice for different types of transactions. We will retain those settings till such time as you change them.