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633 posts

Ultimate Geek
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  Reply # 1701786 12-Jan-2017 07:39
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In case it helps some guy at work just told me he's got ASB direct feeds from YNAB cloud working.

 

Now considering switching bank just for this ;-)




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Geek
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  Reply # 1701793 12-Jan-2017 08:09
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Yes it does look like ASB is a supported bank.


 
 
 
 


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Master Geek
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  Reply # 1765390 17-Apr-2017 18:32
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As a kid, I used MSMoney and entered every receipt and then reconciled from paper bank statements... 

 

I stayed with MSMoney for a long time and then eventually just stopped. I use MYOB for small business accounting and haven't had the stomach to migrate over to Xero.

 

I've just decided to sort out our personal finances and finding a tool is a good start. I'm surprised nobody has mentioned gnuCash. Thats been flavour of the month with Life Hacker for yonks. I have downloaded it a couple of times with good intentions, but never got off the ground.

 

So...

 

I have just set up accounts with both PocketSmith and YNAB and spent most of my time with Pocket Smith.

 

I've connected PocketSmith (PS) with my accounts at 4 different banks and it works pretty well. Some banks force 2 factor authentication via a challenge question, and PS detects this and tells me I will have be present for it to sync with that bank.

 

I've spent much less time with YNAB, but the only NZ bank that it seems to connect with is ASB, so I've more-or-less given up.

 

 

 

I'm going to stick with PS and pay the $10 / month for the huge convenience of not having to log into all my different accounts and export transactions etc... This convenience also means that either me or the missus can just look at the mobile app once a day and either categorise or just approve transactions that are showing up as new.

 

Being a web app, it's slow, and thats painful. I'd love an offline app with keyboard shortcuts, but you can't have everything right?

 

 

 

 


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  Reply # 1765400 17-Apr-2017 19:17
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I use WaveApps for my accounting needs. It's free, online, and even has a receipts app whereby you can take pictures of your receipts and it will attempt to OCR it and then fill in the details for you. Of course you have to save it yourself so if they read the price wrong you can manually change it. Rarely happens though. Clicking through items on the web app does take a while to load though.




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Master Geek
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  Reply # 1766466 18-Apr-2017 06:09
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WaveApps looks promising.

 

I see they do do bank linking.

 

Do they allow linking to all the NZ banks? If so, I'm keen to throw them into the mix.

 

They aren't a small company, so they must have a revenue stream somewhere...

 

https://www.waveapps.com/pricing/  <-- $0.00 per month here in NZ !?!

 

 

 

 

 

edit:

 

I couldn't resist so I toddled off and answered my own questions:

 

YES they connect to all the NZ banks!

 

...so why doesn't YNAB ?

 

They also state that they connect in a read only fashion. I'll go out on a limb and suggest that there must be an API somewhere and it only allows read only access. I'd be curious to hear what the bank says about it. You know your financial information is safe because they say so! (https://support.waveapps.com/hc/en-us/articles/208622176-Connecting-my-bank-credit-cards-Is-it-safe-)

 

They seem a bit slow... but I'm game to give them a parallel run with PocketSmith.

 

 


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Ultimate Geek
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  Reply # 1766481 18-Apr-2017 07:57
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Have had YNAB working fine with ASB since I got it (well mostly...few niggles but has settled now!)

 

I thought it also supported ANZ as well, but don't have the list to hand.





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  Reply # 1766836 18-Apr-2017 16:19
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Edwood:

 

WaveApps looks promising.

 

I see they do do bank linking.

 

Do they allow linking to all the NZ banks? If so, I'm keen to throw them into the mix.

 

They aren't a small company, so they must have a revenue stream somewhere...

 

https://www.waveapps.com/pricing/  <-- $0.00 per month here in NZ !?!

 

 

 

 

 

edit:

 

I couldn't resist so I toddled off and answered my own questions:

 

YES they connect to all the NZ banks!

 

...so why doesn't YNAB ?

 

They also state that they connect in a read only fashion. I'll go out on a limb and suggest that there must be an API somewhere and it only allows read only access. I'd be curious to hear what the bank says about it. You know your financial information is safe because they say so! (https://support.waveapps.com/hc/en-us/articles/208622176-Connecting-my-bank-credit-cards-Is-it-safe-)

 

They seem a bit slow... but I'm game to give them a parallel run with PocketSmith.

 

 

 

 

Yes they do link to NZ Banks. I have been using them since 2 and a bit years ago. Did have an issue for a while when they couldn't connect to ASB (ASB must've changed something on their end) but Wave followed up and it works again!

 

Yes, they only seem to make money off the Payroll features, but none in NZ so I don't think they make any revenue in NZ. 





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Master Geek
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  Reply # 1767060 19-Apr-2017 08:04
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My 2c - WaveApps is better to small business accounting than personal finances. They do link to the NZ banks though, and its free! ...like actually, free!

 

YNAB might be good, but it only links to 1 or 2 NZ banks so I gave up.

 

PocketSmith is getting my vote, and my money! They link to all the NZ banks and international ones. They can automatically sync on a regular basis and have a mobile app that allows you to approve / categorise / view transactions while on the go. All this comes together to mean that you're actually seeing and categorising (if necessary) transactions with very little effort on a regular (daily) basis... so there's no backlog, no sitting down at the end of the month and trolling through the hoard of transactions, no procrastinating because its a job you can't be bothered with...

 

 

 

I know I sound a bit like a fanboy (or sales rep), but I've just gone through the paces with the three of them and concluded with certainty that PocketSmith is the best option for personal financial management & budgeting etc.

 

 

 

 


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  Reply # 1767512 19-Apr-2017 18:31
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Edwood:

 

My 2c - WaveApps is better to small business accounting than personal finances. They do link to the NZ banks though, and its free! ...like actually, free!

 

YNAB might be good, but it only links to 1 or 2 NZ banks so I gave up.

 

PocketSmith is getting my vote, and my money! They link to all the NZ banks and international ones. They can automatically sync on a regular basis and have a mobile app that allows you to approve / categorise / view transactions while on the go. All this comes together to mean that you're actually seeing and categorising (if necessary) transactions with very little effort on a regular (daily) basis... so there's no backlog, no sitting down at the end of the month and trolling through the hoard of transactions, no procrastinating because its a job you can't be bothered with...

 

 

 

I know I sound a bit like a fanboy (or sales rep), but I've just gone through the paces with the three of them and concluded with certainty that PocketSmith is the best option for personal financial management & budgeting etc.

 

 

Why do you think WaveApps isn't good for Personal finances? IMO I think it's pretty good for personal finances as well as for small to medium business accounting.

 

Yes I do wish WaveApps would bring out an app to categorise, view and manage transactions on my phone though. I have a feeling they might be bringing one out later. In terms of categorising transactions in WaveApps, most of it is done automatically for you. It does get some wrong though which means I will have to correct some when I go to "verify" the transactions.





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Master Geek
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  Reply # 1772982 30-Apr-2017 18:55
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Sorry for delayed reply, but I just say that Wave Apps isn't so good for personal accounting because it uses double entry accounting - ie. a debit to one account and a credit to another. This just makes things harder for most personal accounting. (ie. Credit Bank, Debit Gaming).


435 posts

Ultimate Geek
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  Reply # 1772995 30-Apr-2017 19:42
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Edwood:

 

Sorry for delayed reply, but I just say that Wave Apps isn't so good for personal accounting because it uses double entry accounting - ie. a debit to one account and a credit to another. This just makes things harder for most personal accounting. (ie. Credit Bank, Debit Gaming).

 

 

I suspect most (if not all) decent accounting software use double entry accounting under the hood to ensure all your transaction data is balanced. Some (like YNAB) do a better job than others at putting a nice UX on top of it to make it easier for novices to use it with the trade-off that you can't really record more complex transactions. Others (e.g. GnuCash) just present the double entry system directly which makes recording complex transactions as easy as simple ones.

 

I strong suggest that it's well worth learning the simple principles behind double entry accounting, so you can apply it to any accounting software (personal or otherwise) or even devising your own electronic/paper accounting system. Once you understand the basic principles, then a lot of things will start to make a lot of sense.

 

- James


258 posts

Ultimate Geek
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  Reply # 1946729 25-Jan-2018 15:53
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I can't see ASB in the list of automated feeds for YNAB - am I missing something or has support for ASB been removed?




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  Reply # 1946977 26-Jan-2018 08:34
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Yeah, ASB used to work but it doesn't appear to work...

 

Send YNAB an email and complain why they don't use Yodlee as a provider as that would allow them to support most NZ banks.


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Ultimate Geek
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  Reply # 1947052 26-Jan-2018 11:12
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Will do, thanks for the double check.

 

 

 

Manual import doesn't seem to be much of a drama... so I'll run with that...


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Uber Geek
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  Reply # 1947120 26-Jan-2018 12:32
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This is really annoying. As far as I'm aware non of the major Australian owned banks have offered a comprehensive budgeting tool since BNZ were forced to ditch Xero Personal, so they need to be more proactive at popular supporting third party tools.


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