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At one point I tried to learn Quicken but abandoned it to stick with my tried-and-true Excel spreadsheets. (Quicken seemed more trouble than it’s worth, though my BFF has used it for 30 years and loves it.) I set up a spreadsheet for each client; once a month (more often for some, based on need) I download all transactions from their bank/credit card companies. I insert an additional column where I categorize expenses (T for taxes; M for medical; C for charitable; etc.). I can sort the data according to date, or description, or category, etc. This enables the clients to see all their expenses (and income) in one convenient document, instead of looking at 2 bank statements, 3 credit card statements, etc. It’s very simple and straightforward and serves my clientele well …. so far, at least!
I’d be happy to answer any questions via this forum, or contact me personally.
I’ve used both but ended up using Excel to document quarterly income and expenses, by building a pivot table by spending/income category and month. I’ve downloaded from financial institutions to Quicken but found that the defaults used by the institution didn’t always map well to Quicken. I still like Quicken for managing checking/savings/credit card accounts, but then just tend to track other accounts with a monthly balance update (to track total assets) rather than trying to download and integrate the transfers between accounts.
-tom
Triad Personal Paperwork Services
http://www.triadpaperwork.com
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