61–70 of 124 posts
Earlier quoted context omitted.
"Without a way to easily import data directly from my banks/credit cards" What is this wizardry? I go to the web portal of my (banks) and basically do double entry.
US banks support access via API and apps use to fetch data. European banks usually don’t do that, for security reasons.
Earlier quoted context omitted.
I hated all of the advertising in mint. I recently started using ynab[0], which can also import balances & transactions from banks. It supports oauth and 2fa, which was nice for the reason you listed: I don't want to give my credentials to anyone, even a "trusted" vendor like intuit. It also has a rest api, which I haven't gotten to try yet, but stands out as a very nice to have feature for me. The downside is that y…
I recently ended my subscription for YNAB after more than half a decade of usage. I was grandfathered into the old price, but they took that away with the most recent price increase, so I could not justify staying. However, since I have quit, I have not found my habits to have changed. I think some part of the system is permanently burned into my brain. I am exploring my options with hledger, and it's been a neat exp…
For those of you who like the idea of GNUCash but are looking for an easier tool to use (for us developer folks), check out https://plaintextaccounting.com .
Earlier quoted context omitted.
"Without a way to easily import data directly from my banks/credit cards" What is this wizardry? I go to the web portal of my (banks) and basically do double entry.
US banks support access via API and apps use to fetch data. European banks usually don’t do that, for security reasons.
Does anyone have a good workflow for recording personal finances with this type of tool? My problem is that recording every single transaction becomes tedious, so I end up not doing it and the ledger gets out of sync, making it even more tedious to catch back up in a vicious cycle. I'm considering not tracking individual payments and instead just the total monthly changes so I at least have an up-to-date net worth ca…
Do you really need full double-entry accounting for personal finances? This usually boils down to either - you need it for tax/legal/bureaucratic purposes, or - you are really short on money and you need to keep track of it down to the last cent. When either of those two conditions are true, double-entry is amazing. If the above are not true (and it sounds that way based on your comment) then I would do it statistica…
In tools that I've tried, they've all been finely tuned to down-to-the-penny precision and capturing all data.
Earlier quoted context omitted.
US banks support access via API and apps use to fetch data. European banks usually don’t do that, for security reasons.
Umm, in the EU due to PSD2, all banks must provide a standardised API: https://en.wikipedia.org/wiki/Open_banking
Without a way to easily import data directly from my banks/credit cards, using GnuCash (or Firefly III, a great alternative that's also worth checking out) just takes way more time than its worth. (OFX was not as straightforward to obtain or use as one would hope). Mint is so much easier to use - it automatically pulls and categorizes transactions from pretty much any institution imaginable without no user effort nee…
Our accounting software auto-imports all of our transactions daily via the Plaid API and our classifying ruleset categorizes 95% of them automatically. All that's left for our bookkeeper is to spend a few hours a month going over the unusual ones and doing some general accuracy/sanity checks. In addition we get dynamically generated reports every week which are ~90% accurate. Prior to these features the model was "bookkeeper manually imports a bunch of transactions from multiple sources and does a ton of work at the end of each month and produces one monthly report." Automation here has been a huge win, lower costs and better results.
As much as I appreciate and prefer FOSS software I would never go back to the old way of doing things, the last thing a founder wants to spend a lot of time or money on is bookkeeping.
Without a way to easily import data directly from my banks/credit cards, using GnuCash (or Firefly III, a great alternative that's also worth checking out) just takes way more time than its worth. (OFX was not as straightforward to obtain or use as one would hope). Mint is so much easier to use - it automatically pulls and categorizes transactions from pretty much any institution imaginable without no user effort nee…
I hated all of the advertising in mint. I recently started using ynab[0], which can also import balances & transactions from banks. It supports oauth and 2fa, which was nice for the reason you listed: I don't want to give my credentials to anyone, even a "trusted" vendor like intuit. It also has a rest api, which I haven't gotten to try yet, but stands out as a very nice to have feature for me. The downside is that y…
Although I'm not sure how it compares to YNAB since I've heard good things about it too. What I like about Monarch is the nice UI, no ads, responsiveness and that the sync doesn't fail (often) like it failed (often) with Mint all the time.
Without a way to easily import data directly from my banks/credit cards, using GnuCash (or Firefly III, a great alternative that's also worth checking out) just takes way more time than its worth. (OFX was not as straightforward to obtain or use as one would hope). Mint is so much easier to use - it automatically pulls and categorizes transactions from pretty much any institution imaginable without no user effort nee…
I use gnucash for about half a decade now for private financing and it is absolutely a valuable helper. I run it at most once a week: Fetch transactions, query balance and reconcile.