Advice for best app for managing all accounts

Howitiz

Has anyone got advice on the best app to use for monitoring savings interest etc for tax purposes?

EachPenny

Howitiz wrote: »

Has anyone got advice on the best app to use for monitoring savings interest etc for tax purposes?

Excel, or if you want something free then LibreOffice Calc.

originalmiscellany

Are you referring to an app in the sense of a phone app, or the solution like eachpenny has recommended?

Howitiz

Yes I am looking for a recommended app for my tablet. I realise I can use excel but was hoping there was a tried and tested app that updates itself maybe.

EachPenny

I'd still say Excel. There might be an app that does what you want, but assuming you need the app because you have multiple accounts then you're probably needing to consider differences between interest, cashback, rewards, taxable/non-taxable, monthly/annual payments. There are often arguments on this forum about how these issues should be handled, and no single view, so I wouldn't have a great deal of confidence that any app developer has achieved an accurate result, and it is unlikely the app will let you look inside to figure out how it has arrived at the results it is giving you.

I also assumed from the original post that you were talking about an app which has access to all your accounts to gather the data it needs. Really not sure I would want to do that. And even if I did, what confidence level can you have that the app is correctly interpreting the wildly varying ways banks report/record interest payments?

So for me it would be LibreOffice Calc every time. I can see what it is doing and easily make adjustments if new information comes along.

colsten

There is nothing magical that pulls in the interest payments from each account. I record all my financial transactions, incl payments of taxable and non-taxable interest, in AceMoney, which gives me an up-to-date report on my taxable income from bank and building society accounts at the click of a button. You can do the same with Microsoft Money, which is free to download as it is no longer supported by MS. You can, of course, create something in Excel or Google Sheets yourself. You can't avoid the manual effort of collating the information.

isasmurf

I think the closest you will get is an account aggregator app like Ontrees or Money Dashboard that pulls and stores all your transactions for each of your accounts and categorises them. Don't think I'd feel comfortable with a third party accessing my accounts and storing all my transactions in one place no matter how secure they are.

Diggle123

I use MS Money, found Version 14 is now free.
It's ability to categorise spend is great, have looked at a few other 'free' offerings, but having used Money for some 15+ years now find the transfer of data to something else is just too much trouble

Terry98

Diggle123 wrote: »

I use MS Money

I think the OP is looking for an app.

Like you, I use the free version of MS Money and find it invaluable. I cannot see an app taking it's place but no doubt one day it will happen!