…though you’d never guess from looking at my desk.
After cleaning the house at the weekend, I bought some financial management software. I now have a set of accounts for all my various assets, UK and US. Mmm, double-entry bookkeeping. Brings back some memories… Previously I used a spreadsheet and some Palm software. It kinda did the trick for answering questions at tax time, but reconciling accounts was a pain.
One of the things that nobody seems to tell you about double-entry accounting is that, to borrow a phrase from the Perl community, there’s more than one way to do it. Maybe you want to handle your rental property using split transactions in your checking account ledger, or maybe you want to have a separate ledger and post transfers to tracking accounts from that. Sure, accountants will have opinions about how to best set out your books; but then, programmers have opinions about how to write code, and it doesn’t mean they’re right.
The other big secret—well, maybe you’ve guessed it already—is that it’s much simpler than the professionals make it sound.