Best Money Management Software

Discussion in 'Money Management & Banking' started by level3, 5th Jul, 2011.

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  1. Simon Hampel

    Simon Hampel Founder Staff Member

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    From the online help:

    Back when we moved to Sydney and our ex-PPOR became an IP, I was using Quicken to track the loan accounts and such - but then when we set up multiple LOCs using equity for further investments it all got a bit complicated because Quicken wasn't sophisticated enough to handle that scenario.

    For simple things it can be useful, but if you're handy with a spreadsheet, you're probably better off tracking it all yourself.

    I'd be interested to hear if anyone else is using Quicken/Reckon to track their property portfolio.
     
    Simon Hampel, 15th Dec, 2016
    #21
  2. trinity168

    trinity168 Well-Known Member

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    Loans in multiple banks, LOC using equity. I have, just this year decided to take "control" of the spreadsheet. The IPs division is not exactly 50-50 between me and hubby, and I am a bit confused, when tax is done, and I can't definitively allocate, which IP earned/lost dollar amount.
     
    trinity168, 19th Dec, 2016
    #22
  3. Nodrog

    Nodrog Well-Known Member

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    We don't own investment property any more but when we did have multiple properties it was all done using Reckon Personal Plus. We tended to keep loan structuring relatively simple but found the use of classes worked very well for IP. I didn't keep detailed depreciation data in Personal plus but just recorded the the category totals after tax processing. It did everything we ever needed.

    For shares it's fantastic also. I'd be lost without this software. But it takes sometime to really get to know the product well. Some things are far from intuitive.

    I have used it for Personal, Family Trust and SMSF (IPs, savings/loan accounts and shares) for around 20 years now.

    Now retired I'm tending to progressively simplify out investments and structures. The first to go were IPs. Way too much hassle and relatively poor income in retirement.
     
    Nodrog, 19th Dec, 2016
    #23
  4. hillsguy

    hillsguy Well-Known Member

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    Surely the must be a software as a service that can do track share income, dividends well. I just have not found any !!!
     
    hillsguy, 20th Dec, 2016
    #24
  5. Simon Hampel

    Simon Hampel Founder Staff Member

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    Did you have a look at @radson 's suggestion of Stock Portfolio Tracker | Sharesight ? I had a quick look (but haven't actually used it myself) ... looks pretty good.
     
    Simon Hampel, 20th Dec, 2016
    #25
  6. Simon Hampel

    Simon Hampel Founder Staff Member

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    Yes, classes are critical for effective separation of income and expenses for each property.

    Now that I use Saasu for tracking my properties in our Trust, I use "tags" (basically the same thing as classes) to do the same job so my accountant can do reports of income and expenses by property.
     
    Simon Hampel, 20th Dec, 2016
    #26
  7. trinity168

    trinity168 Well-Known Member

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    I am trialing Share Sight and find it quite good. It shows the return per share and totals as well.

    Now, I was envisioning something similar for properties. For example,
    IP1 - Year 1 100K ... Year 5 Estimate CG 20K, Expenses = 5K; Tax "benefits" = 2K, Total Returns = ##%.
     
    trinity168, 22nd Dec, 2016
    #27
  8. hillsguy

    hillsguy Well-Known Member

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    Challenge with Share Sight (unless I am missing something) is the ability to add additional units purchased with new price to reflect total portfolio.

    I am unable to do this.
     
    hillsguy, 4th Jan, 2017
    #28
  9. hillsguy

    hillsguy Well-Known Member

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    OK - ignore previous post ... I can now see all trades for same stock !
     
    hillsguy, 4th Jan, 2017
    #29
    2 people like this.
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