Migrations are always tricky and have the potential for data loss. It's suggested you export your data by going to More>Export and export all transactions before upgrading to 1.8.
PLEASE INSTALL THE 1.8 UPDATE AND PERFORM THE MIGRATION BEFORE OCTOBER 31, 2021. Do not dismiss the app during the migration process.
Here are a few of the changes with this update:
Categories - Income vs. Expense - there is longer a distinction between expense and income categories. Don't worry, all your previous categories will be copied over including the income categories. During migration, "- Income" will be appended to the income category names. How does this change make a difference? Let's say you are overcharged on a transaction and the merchant provides you a partial refund. Now you can use the same category so the refund offsets the total expense charge.
Parent Categories - you can now assign a parent category to a transaction even when it has subcategories. For example, if you have a Gifts category and don't want to create a niche subcategory, go ahead and use the parent category itself.
Credit Card Balances - balances show as positive now. Carrying a balance on a credit card still reduces the net worth calculation. Recording a credit card payment remains the same by recording a transaction transfer.
Sign In - since your data is tied to your Apple ID, you no longer need to sign in to the app. If you get a new phone, just install seventytwo from the App Store and your data will start to sync from iCloud. Depending on how long you've been a user, this can take some time..
Enjoy the update! Feel free to reach out with any questions.