Recording and keeping track of finances isn’t an easy job, even after a whole year of recording each and every transaction. It’s especially harder if you lost your phone where you kept track of all your expenses.
The thought of reconciling all the excel spreadsheets that I exported at different times and figure out what I didn’t record was a daunting. Each day I would tell myself that today is the day that I am going to do it. I only lost two weeks of transactions in January, it’s not that big of a train smash. And besides, most of the transactions are on my bank statements. So all isn’t lost, right?
This past weekend I managed to start with reconciliation and finally closed off 2016. There were some transactions in 2016 that belonged in 2017 so now it’s throwing my opening balances a bit. Not a bit, actually I have no idea what my opening balance for my check account is supposed to be.
This year I want to record my expenses on my computer instead of on my cellphone. The only transactions I want to record on my cellphone and then export to my computer later are the cash transactions. Everything else should come from my bank statements and statements from my creditors.
I looked for a free open source piece of software to serve all my personal finance needs and ended up with Money Manager Ex and GNUCash. Money Manager Ex just didn’t do it for me. It wasn’t very clear from the get go how I would record all my transactions. I didn’t know how to import CSV files. The software was just a bit iffy. That’s the best review I got for you.
GNUCash seems like the complete accounting package. It’s much more complicated than anything I’ve ever used before but I have hope for this one. I struggled for hours to figure out how I’m going to export my bank statement and just import it into GNUCash. I tried tweaking excel spreadsheets, tried new formulas and downloaded plug-ins before concluding that I will enter everything manually from the printed bank statements.
I haven’t recorded a single transaction yet for 2017 and I am already at the end of January because my paycheck for work done in January 2017 has already hit my bank account. So, during my lunch hour I am going to try my best to just start recording everything.
As for the cash, I have no idea what to do. There will be so many expenses that will go unrecorded. I’ll probably have to just create a transaction type called “Unrecorded expenses”. The longer I go without recording my finances, the bigger the unknown. It will come to a point where I will probably not record anything this year and just call it an off year. Ha-ha.
Just a little update on my cellphone that got water damage. The repair people don’t have a replacement screen for my phone. It’s a weird Chinese brand that only starting making phones very recently. The repair shop tried to clear all the water from the phone hoping that would work, but it still didn’t. They didn’t charge me a cent for cleaning out all the water. I was prepared to pay N$900 for it.
I googled searched for a place in my city that could maybe repair my phone and instead stumbled upon AliExpress that could ship a replacement screen to me for US$20. That was great news because the repair shop would’ve charged me US$180 for the replacement screen (including labor) if they had one available. Now I just need to pay them for the labor (which I hope shouldn’t be more US$40), which is a third of the price I was quoted at the start. Only problem is my package will only be arriving in 45-60 days from China. It’s going to be a long ass wait, but it will be totally worth it in the end.
That’s it for now. Thanks for reading.