12/27/2022 0 Comments Banktivity app![]() I whip through that report every day to make sure nothing is ‘hanging’ and that everything has been match and has categories. For example, I have a report that shows me 14-days of transactions across all of my accounts. Do spot checks that your Banktivity balance matches your actual balance (easiest IMHO just by opening your financial institution apps on your phone)ģ) Build reports to help you clean data. But the “a little bit every day” habit only now takes me about 3-4 minutes, and I can get back to my life. ![]() This is a pain, especially if only 1/2 the transaction has downloaded, or the transaction is across 2 currencies. The point is had I not done that, I’d see numbers wildly fluctuating every 6 months, and it really wouldn’t accurately give me a picture of how my saving was going.Ģ) Try to make a habit to go in every day (or 2) and make sure your data imports are clean, especially transfers have been matched. Once I got that set up correctly, the actual transactions were quite easy. In order for my “how much do I have” reports to be accurate, I had to really think about the accounts I set up in Banktivity to match real-world activity, in the right currency, at the right time. Case in point… My company sets aside money every month to buy stocks through an ESPP, which on the purchase date, is converted to USD, stock is purchased in a US-based brokerage, the remainder is refunded, converted to AUD, and then added to my next paycheck (which also has another deduction for the next purchase point). Here’s a few bits of advice I’ve built up:ġ) if you want accurate reports, you’ll need accurate data, so spend the figure out things and do them right. I too did a “reset” not long ago - and started on 1-July-2018 (the beginning of the Aussie FY for those Americans), by doing (mostly) balance adjustments on 3, and starting from there. OP - I think you’re my long lost brother! Another American living in Australia, with transaction accounts in both countries, credit cards in both, property in both, investments in both… I think you know this story well!!! I was a bit inspired by this persons analysis of different online platforms, without really finding one that works well :, which led me back to Banktivity - and starting over.Īny recommendations on making Banktivity work well without feeling like it's a second job? I'm probably an edge case, as I live in Australia (and have transaction accounts and credit cards and investments and retirement accounts) but also in the US (again, have transaction accounts, credit cards, brokerage accounts, retirement accounts). Looking at my existing Banktivity file, I probably have data in there dating back to ~2007, and more than half of the accounts in there are 'closed' (I literally have 98 open / closed accounts in the existing file) - I have 4 old homes and a handful of vehicles that I don't own any longer. I don't want to surf between a bunch of different websites to figure out if / where I either owe money or have money. However, I don't know how to use apps like Banktivity without doing that. My goal isn't to track every dollar, and generally don't really want to go in a rabbit hole of categories and sub-categories. I have a few things going on where I probably need to pay a bit closer attention (partner moved into a Sales role - highly variable income, purchasing an investment property, re-financing mortgage on our primary residence, getting a bit more into active investing). I really haven't been paying close attention to money since, well, before Covid - and spent less time on it over the 18 months. Migrated to Quicken for a few years, but then changed to Apple platforms, and migrated to Banktivity. I tried Mint (before Quicken bought them) and as far as I could tell, back then it was more geared at low-level budgeting. I was a long time user of Microsoft Money, then MS ended development (back in ~2009).
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