This application is well-suited for those who like to (or better- need to) tightly manage their money. It is very convenient since mostly everone has access to their phone/iTouch at the time of a transaction. However, in order to make the best of this app, one should definitely have a rudimentary understanding of accounting.
My only suggestion for improvement is to have an option for which the app automatically calculate totals for each account type, i.e. Total Assets = $x. This would be very convenient, and I hope it is in an upcoming update. In addition, integrating a budget type function with this app would make it the best buy in the app market.
Dmoney89 about Ledger