Quickbooks for personal Finances ??


C

Chris

Is anyone using Quickbooks for personal finances, or is it an overkill?
Using quickbooks and I don't mind paying for Quicken, as well, but I'much
rather have to deal with the interface of a single product - if possible.
There is no "persona finance" template of accounts (when you start a new
company in QuickBooks), that's why I am wondering if it's not meant to
handle that.

TIA,Chris.



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A

Allan Martin

Chris said:
Is anyone using Quickbooks for personal finances, or is it an overkill?
Using quickbooks and I don't mind paying for Quicken, as well, but I'much
rather have to deal with the interface of a single product - if possible.
There is no "persona finance" template of accounts (when you start a new
company in QuickBooks), that's why I am wondering if it's not meant to
handle that.
Using QB for personal finances is not overkill it is underkill, it does not
have the features required. Most smart end users use both programs.
 
S

Scott

Chris said:
Is anyone using Quickbooks for personal finances, or is it an overkill?
Using quickbooks and I don't mind paying for Quicken, as well, but I'much
rather have to deal with the interface of a single product - if possible.
There is no "persona finance" template of accounts (when you start a new
company in QuickBooks), that's why I am wondering if it's not meant to
handle that.

TIA,Chris.
I've been using it for mine - just start with no COA or use the generic one
& customize. It's probably overkill for someone ONLY doing personal
finances, but if you've got the program anyway there's no reason to use
something else.
 
A

Allan Martin

Scott said:
I've been using it for mine - just start with no COA or use the generic
one & customize. It's probably overkill for someone ONLY doing personal
finances, but if you've got the program anyway there's no reason to use
something else.

Great, now share with use how to click on a button in QB and have it update
the market value of all my investments? Also how can I have it generate a
report showing all my short term and long term realized gains for the year?
How can I get QB to put certain securities on a watch list? How can I get it
to track the basis of my investments. How about stock splits?
 
S

Scott

Allan Martin said:
Great, now share with use how to click on a button in QB and have it
update the market value of all my investments? Also how can I have it
generate a report showing all my short term and long term realized gains
for the year? How can I get QB to put certain securities on a watch list?
How can I get it to track the basis of my investments. How about stock
splits?
That's your problem, my finances are much simpler. The OP asked if anyone
used it for personal finances, I do & responded. With no details of what
those finances are, I answered a simple question with a simple reply. If you
don't want to stoop to the level of us common folk, just skip the post.
 
A

Allan Martin

Scott said:
That's your problem, my finances are much simpler. The OP asked if anyone
used it for personal finances, I do & responded. With no details of what
those finances are, I answered a simple question with a simple reply. If
you don't want to stoop to the level of us common folk, just skip the
post.

Noted, When I start keeping my money in my matress and hold my pants up with
a piece of rope I will return to the common folks' postings.
 
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H

HeyBub

Allan said:
Great, now share with use how to click on a button in QB and have it
update the market value of all my investments? Also how can I have it
generate a report showing all my short term and long term realized
gains for the year? How can I get QB to put certain securities on a
watch list? How can I get it to track the basis of my investments.
How about stock splits?
Put your money in Series E Savings Bonds. Problem solved.
 
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C

Chris

Scott said:
I've been using it for mine - just start with no COA or use the generic
one & customize. It's probably overkill for someone ONLY doing personal
finances, but if you've got the program anyway there's no reason to use
something else.
Thanks,
Chris



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C

Chris

Allan Martin said:
Great, now share with use how to click on a button in QB and have it
update the market value of all my investments? Also how can I have it
generate a report showing all my short term and long term realized gains
for the year? How can I get QB to put certain securities on a watch list?
How can I get it to track the basis of my investments. How about stock
splits?
If I were fortunate enough to have your problem(s), I'd hire a professional
to take care of all that $$ for me <smile>. Unless you are splitting penny
stocks ;-)



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R

rhi

I actually laughed out loud and spit Chinese takout on my laptop screen reading this thread.

As a common folk (read: using a rope to hold my trousers up, too poor for a new-fangled mattress) running a small business I am seeking a creative way to make my personal finances a new "company."

It's worth giving a shot as I know the software very well and want to be able to move funds between the two as I loan my business money and pay myself. I hope it works well.

So yes, an entertaining thread. Thanks everyone for working together, scaring off the troll and using humour to do so.
 
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To be honest I think it is a bit heavy for personal finances. If you want to use it, that's great, but it does add a lot of unnecessary admin to your week in my opinion.
 
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As far as the guest post above, I'd be very careful trying to pull that one off. The taxman isn't that daft.
 

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