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Show HN: Paisa – Open-Source Personal Finance Manager

paisa.fyi

171–180 of 288 posts

Re: Show HN: Paisa – Open-Source Personal Finance Manager

#171
post #29

Here's something that always trips me up when I look into non professional software for double entry accounting (or more accurately, instructions around them). It's been a long time, so I may be getting it wrong, but I do have some introductory information of accounting. And according to that, in a transaction such as salary received, the accounting would look something like: Income: Salary - Credit Assets: Checking…

Thats correct with DE accounting. However I always assumed, the logic followed here is that the money has been "debited from" the INCOME account and "CREDITED to" Assets/Checkings.

My somewhat limited understanding of this is that from your perspective, an increase in your asset/cash account would be a debit.

A big confusion for me initially was that my banks always talked about crediting my account whenever money was deposited/added to my account.

I finally understood it when I realized that from the banks perspective, an increase in my account is an increase in their liability towards me; they now owe me more money. Which is why they call it crediting my account.

So now I think of it like this: an increase in an asset is always a debit, an increase in liability is always a credit.

Re: Show HN: Paisa – Open-Source Personal Finance Manager

#172

Earlier quoted context omitted.

My understanding of PSD2 is that it requires banking transactions to be "machine-readable" whatever that means. So there's an actual legal requirement for making data accessible outside of the browser.

The problem I faced when I looked at data export was that none of the banks had any apis. You always had to go through 3rd party commercial apis. Maybe there are ways bur I didnt find them

If you're talking about European banks they all have APIs. But only licensed companies can use them directly. Those companies are called AISPs within the PSD2 framework, sometimes referred to as aggregators. Some of them have ways for individuals to access their own accounts at banks via the AISP APIs. But there are limitations, one major one being that PSD2 doesn't cover credit card data or anything other than deposit accounts. [I'm a product manager at a bank]

Re: Show HN: Paisa – Open-Source Personal Finance Manager

#173

Earlier quoted context omitted.

It can import directly from some banks maybe, but certainly not my bank. I haven't had any success importing to GnuCash from _any_ bank I do business with.

Every bank I've ever used has had functionality to do csv exports (or xlsx, for which I have a one-liner to convert to csv), which can trivially be imported into gnucash. At least in the UK/EU, it seems to be a common feature.

That's true, I mean the automatic direct import though.

Re: Show HN: Paisa – Open-Source Personal Finance Manager

#174

Nostalgia. I led a small team in 2009 and built Paisa.com - a financial/investment Startup. I still have the initial mockup designs I did in a hotel room in Delhi/Gurgaon to pitch to NDTV.

I remember that! I really liked it. What happened to it? And what are you upto these days?

Re: Show HN: Paisa – Open-Source Personal Finance Manager

#175

Here's something that always trips me up when I look into non professional software for double entry accounting (or more accurately, instructions around them). It's been a long time, so I may be getting it wrong, but I do have some introductory information of accounting. And according to that, in a transaction such as salary received, the accounting would look something like: Income: Salary - Credit Assets: Checking…

Most tutorials for financial services are written for bank account users.

People refer to their bank account colloquially as a "debit account" and "credit account" because those are the types of accounts offered to them by a bank. From the bank's perspective, a consumer debit account is (correctly) considered a "debit" since any money deposited into the account by the account owner is an asset for the bank.

Re: Show HN: Paisa – Open-Source Personal Finance Manager

#176
post #80

How are people automating the data import? I can't imagine someone entering everything by hand. Lots of places don't even provide an export file you can work with... most of them offer a PDF. It seems like most financial places rely on Plaid for the data integration, but that's a paid service I don't think Open-Source or free personal finance apps would use.

Most banks/CC have some sort of export - be it in CSV, OFX, Quicken, etc. Then you import it using your financial story. The real pain is in the categorization (was this Groceries, Supplies, Dining, Medical Expense)? I use KMyMoney which usually picks the same category as the last transaction from the same place. Saves some of the work, but it's still painful. I then wrote a script to export from KMyMoney to ledger f…

Categorization seems like low-hanging fruit given the age of AI we are in today.

Re: Show HN: Paisa – Open-Source Personal Finance Manager

#178
post #177

LICENSE AGPL3 https://github.com/ananthakumaran/paisa/blob/master/COPYING I won't use this because I can't ensure all my systems can be agpl3. Like bank systems I don't control.

This is false, interacting with public APIs that are not under your control is allowed under AGPL3, the only thing you may have to do is release any code you may add to connect with those APIs. Source https://opensource.stackexchange.com/questions/8201/if-i-use...

Re: Show HN: Paisa – Open-Source Personal Finance Manager

#179

Earlier quoted context omitted.

Most banks/CC have some sort of export - be it in CSV, OFX, Quicken, etc. Then you import it using your financial story. The real pain is in the categorization (was this Groceries, Supplies, Dining, Medical Expense)? I use KMyMoney which usually picks the same category as the last transaction from the same place. Saves some of the work, but it's still painful. I then wrote a script to export from KMyMoney to ledger f…

Categorization seems like low-hanging fruit given the age of AI we are in today.

You think so? They have such inconsistent reporting, and the data is the exactly hard kind to aggregate massive sets of.

Re: Show HN: Paisa – Open-Source Personal Finance Manager

#180

Has anyone compared this to YNAB4? (Not the cloud-only subscription-only YNAB, but the good one that was killed off in 2019) It's by far the best household bookkeeping tool I've ever used, but it won't ever get updates again (running it in a VM just so I can make sure I will always be able to run it), and it would be nice to have something that can track stocks and maybe even foreign currency - but for now, I would b…

Have you tried gnucash? It does currencies, stock, properly (even journaling), etc., OFX import.
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