Question 1

What does it cost?

Accepted Answer

Nothing, for as long as the app is in alpha. There is no billing, no card is asked for at signup, and no payment method is stored.

Question 2

What is the difference between a "Need" and a "Wish" goal?

Accepted Answer

"Need" goals are the things you genuinely have to put money aside for: money for the hard months, a rent deposit. "Wish" goals are optional: a holiday, something you would like. The app shows them apart so you can see what is set aside for each; the order is yours to choose.

Question 3

What does 50/30/20 mean?

Accepted Answer

It is a rule of thumb plenty of people use: 50% of your after-tax income on what you need, 30% on what you want, 20% set aside. It is not the app’s rule and it is not a law. On a small income the first half goes on its own, and on a large one more than 20% is left. The app shows you your own figures; it does not measure you against these.

Question 4

Are the tax figures accurate?

Accepted Answer

They are planning estimates, not tax advice. Confirm anything you act on with your accountant. Rates live in the app as data rather than as constants written into the code: each one carries the period it applied to and a link to its source, and every tax year has its own set. A number written into the code would go stale without telling anyone. The Romanian pack is the only one the FinCosmos team has verified; the other ten are researched starting points.

Question 5

Does the app work out VAT?

Accepted Answer

No. What you owe is VAT collected minus VAT deductible, and a record here is one gross amount with no VAT split, so there is nothing for that figure to be derived from. Your VAT return stays the only source for it, and the tax estimates in the app leave VAT out entirely.

Question 6

What is the difference between income tax and profit tax?

Accepted Answer

A microenterprise is taxed on turnover rather than profit; standard corporate tax applies to revenue minus deductible costs. The rate, the turnover cap and the employee requirement have all changed recently, and this page does not repeat them precisely so they cannot go stale here: open Taxes in a Company workspace and you get the rates in force for the year you are looking at, each with a source link.

Question 7

Is my financial data secure?

Accepted Answer

Each account’s data sits apart, so no other user can reach your records. Passwords are never stored in readable form, and your session expires after 90 minutes and ends on logout. FinCosmos is in alpha and has not had an external security audit. Please do not treat it as your only copy of anything important.

Frequently asked questions