How to keep track of bank accounts (spreadsheets)?

blue.peter

AceMoney for me.

This is, in effect, a spreadsheet, but with built-in functionality designed for money management. The home page lists my accounts (current accounts, savings, credit cards and, if I had any, loans and mortgage). They're grouped by category and show the current balance for each. Clicking on an account name takes me to a transaction list for that account. As I spend money, I record every transaction in the appropriate transaction list (ad hoc spending almost always goes on my credit cards).

The really useful bit (to me) is that I can schedule future payments. This allows me to plan ahead, and predict where I'll be in the future. It also aids efficient use of my money: if I know in advance that there'll be a surplus, I can shift it to savings/investments. Conversely, if I know that a shortfall is coming up, I can take money out of savings to cover it. At the end of each calendar month, I look ahead over the next month and make any appropriate adjustments (e.g., by setting up a future payment/transfer).

There's also a very easy to use reporting function. Provided that transactions are assigned categories, I can look back to see how much I've spent, and on what, over a given period. There are a few preset standard periods, but it's easy to define my own if none suits my current purpose. Reports can be presented as tables or pie charts. It's possible to split transactions between multiple categories.

Other similar programs are also available. MoneyManager EX is a free alternative that looks worthy of consideration.

km1500

do you put a password on the Excel spreadsheet?

although recording account numbers, balances etc may be useful for other purposes, it is not really necessary for probate etc. All you need is a list of the institutions.

Daliah

km1500 said:

although recording account numbers, balances etc may be useful for other purposes, it is not really necessary for probate etc. All you need is a list of the institutions.

I am certain that it is of help to executors and/or surviving spouses if they know the names / numbers of the accounts, and account balances, rather than having to rely on the banks to find all the accounts.

km1500

The banks kinda know what accounts each customer has.

Daliah

km1500 said:

The banks kinda know what accounts each customer has.

No bank has ever made any mistake, either 🤪

Jami74

km1500 said:

do you put a password on the Excel spreadsheet?

although recording account numbers, balances etc may be useful for other purposes, it is not really necessary for probate etc. All you need is a list of the institutions.

I have a password on my Excel spreadsheets 

I am hoping that it will be 50 years or more before probate applies, but if it is required I've got a notepad on my desktop that has a list of financial institutions who I do business with. I assume whoever would have to deal with it would contact each one quoting my name, address, dob etc.

enthusiasticsaver

I have a spreadsheet with account details, online passwords and login details for each of our accounts. We only have three current accounts, two credit cards and two savings and one investment platform though. This is printed and kept in our safe. DH knows the password protecting my laptop so he can access it there too. 

I do it as a backup should I need the details and for my DH or children should I become incapacitated or die. 

phillw

Don't just rely on the password on your computer, the can often be bypassed by unplugging your hard drive/ssd and plugging it into another computer. 

I use a nas that supports encrypted shares, which can be manually locked and unlocked. So even if someone has access to my laptop when its turned on then they only have access to my files if I'm accessing them.

km1500

Excel.password will not be bypassable (if xlsx) but obviously can be subject to brute force dictionary attack hence don't use words in the spreadsheet password

foshank

inspectorperez said:

If you are a Windows user, there is a very useful app called Moneypoint which helps you maintain all transactions on your bank accounts. This is available FOC in Windows Store

I find it very useful as a forecasting and budgeting tool as well as recording actual transaction histories. There is a memorandum section for each account where you can record S/C and account numbers etc. It's very versatile and you can export reports into Excel spreadsheets if you want to tinker with the way information is presented.

I use this in conjunction with a spreadsheet which records month end balances on all bank/investment accounts and assists in acting as a forecasting tool for investment decisions on fixed term bonds/ISAs etc.

I have just downloaded Moneypoint but I have been unable to find any written manual or useful youtube video to give a basic intro to the app. Have you or any other user found any help? Thanks