Trying to be more organised - how do you track your accounts?

TheBanker

Hi

My finances have become a bit more complex recently as I'm now required to complete a Self Assessment return, and I'm earning more interest than I used to due to the rate increases.

I've set up a monthly routine but wondered if I'm approaching this in the best way.

I've set up a spreadsheet that lists all my accounts (including credit cards), and each month I update the balance so I can see whether my net position has improved or not. Within the spreadsheet I also record:

1. Details of all taxable interest received that month
2. Details of any Gift Aid charity donations made that month (for my SA return)
3. Details of any Dividends received (although these are negligible as most of my investments are in an ISA)
4. From my payslip, my YTD taxable earnings and tax paid

While I am logged into my accounts filling in the spreadsheet, I also sweep any surplus cash into savings, claim any cashback/rewards due etc and download monthly statements. I also check the rates on my savings accounts and move funds if necessary to maximise interest.

I also have a 'key dates' tab in my spreadsheet which notes things like when fixed rates are due to end, when 0% credit card offers end, and when car insurance/broadband contracts end. I check this and take any action needed e.g. get quotes for next year's insurance.

I probably spend about an hour a month on these tasks (longer if a new account is needed or something needs renewing).

Is this the best way to track things? Am I missing anything?

Band7

It's AceMoney for me, all the way. I update it throughout the month, as and when/if required.

Others use MS Money, or one of the Open Banking ones, such as Emma. A home-made spreadsheet works for many people, too.

There are various threads about this on this board. If you search for MS Money, you probably find most of them.

ForumUser7

I use a good old fashioned spreadsheet, and also an app called spending tracker by MH Riley. You can categorise transactions so I do that for interest and cash back/switching/rewards etc.

Bigwheels1111

I have 15 savings accounts, plus 7 bank accounts.
I just have a spreadsheet and add interest to it each month.
Next year when I need to fill out a self assessment form, it’s should only take me 20 minutes.
Although mine is a bit simpler than yours.

35har1old

Bigwheels1111 said:

I have 15 savings accounts, plus 7 bank accounts.
I just have a spreadsheet and add interest to it each month.
Next year when I need to fill out a self assessment form, it’s should only take me 20 minutes.
Although mine is a bit simpler than yours.

Have you filled one in before ?