Roger Davies
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Other stuff I use - GnuCash vs Wave Accounting

2/5/2023

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Last month I shared my favorite (and free) personal finance tracking system using Google Sheets (ssdirect.com/news/personal-finance-management-another-how-to). This month I would like to share more business finance tracking methods (still free) that I have been using in recent years. This is not 'the best of' kind of review. It is only 'what I have found that really works for me'.
  • GnuCash (that I describe as a open-source free-to-use-at-no-cost Quicken clone).
  • Wave Accounting (more like a free version of Quickbooks Online - but with options to pay them for add-on services .. accounting help, online credit card payments, etc).
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GnuCash is a standalone program that runs on your Windows or Linux or even Mac computer. I would have preferred a better more generic program name like 'Where-Did-All-My-Money-Go' but I guess all the good names get taken up early and some lawyer will be asked to sue you for using 'their' program name (can you even trademark the name 'Money'?). GNU is a nerdy recursive acronym used in the Linux world, but don't let that stop you. Cash is a name for that stuff you are trying to track.
  • Getting Started: You download the version that works on your system from gnucash.org/download and run it. Setting up an appropriate accounting chart of accounts (ie the bank accounts you own and the expense and income categories you want to track and use) is a bit daunting at the outset, but you can use the default set and customize it over time. You could hire an accountant I suppose, or ask a grandchild to help you, but I prefer to just do it myself. Dive in! 
  • Using the System: In theory, there is supposed to be a way to download transactions directly from your bank. I do not use this as the setup is arcane and I prefer to access my banking information directly online. I just enter transactions directly into the program as they happen. Actually, I use GnuCash as my backup system to my Google Sheets system and just copy and paste transactions between the two to keep them in sync. The interface is much like a checkbook register for each back account you set up with a date, num, description etc for each transaction. I create a saved report for Balance Sheet and  Profit Loss and use that to monitor account balances. 
  • Pro's: Double entry system. Functions much like my favorite old Quicken program (now obsolete, from my old Windows days) used to e.g. using + or- in date field increments the date up and down. Categories are efficiently entered using Quicken shortcuts e.g. Income:Other is quickly entered using unique start for each section i.e. typing 'in' finds Income, pressing : and then 'o' yields Other for the desired category .. Reports are very customizable - click Options to select which accounts to include, what currency, which dates,  and how to display them. Reports can be saved and reopened as needed. User data changes are automatically saved and backed up.
  • I like the fact that with GnuCash your data is locally stored and accessible even if the internet is down. And even if the internet is working, the website you need may go down itself, but with GnuCash .. happy days. That said, it is  somewhat rare now a days that the internet goes down or that sites stop working or go down for maintenance (but it can and does happen). On the other hand, your trusty old computer could also go poof, so IF you don't have a backup from elsewhere .. so sorry. I like to download my Google Sheets file from the cloud to my local computer as a backup, AND copy my synced GnuCash data file to backup server as well .. just in case.
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More recently, I was also introduced to Wave, a free online invoicing and accounting program at waveapps.com.
  • Owned by H&R Block since 2019, headquartered in Canada, over 2 million users, offers "free-forever" features, unlimited credit card and bank accounts, plus online payment processing for a small fee (if you are in to that kind of thing). Bookkeeping services are also available for an additional fee.
  • Using the System: Wave is web-based, so no installation is necessary. Can be accessed from pretty much any browser. Transactions can be downloaded directly from many banks. Again, I do not use this feature as I feel it introduces potential risk to my banking information (as implemented via an external program called PLAID.. but who ya gonna trust? web browsers)! I enter my transactions directly or upload  from my Google Sheet via the provided "Wave Connect" extension for Google Sheets. If you are any little bit paranoid about security you probably won't want all your information up and out there on the internet anyway. Meanwhile, I am more trusting and have been testing Wave as an additional backup accounting system. The interface is much like Quickbooks online, but free!
  • Pro's: Invoicing is wonderful. Not everybody needs this, but for me it automates the entire process. Setup the template as you like, enter the information, and let it send out emails and tracks payments. Sweet! Business expense tracking is also appreciated, with ability to upload scanned copies of invoices and other free accounting tools. System is available to anyone you choose to grant access to (multi-user: presuming the internet is up and Wave is still running).  The interface speed will vary depending on how fast your internet connection is, but it will always be slower than a standalone program like GnuCash.
  • Some Con's: Not sure how to make a real backup from the cloud. Yes, I know that THEY are doing backups of some sort up there, but what if (the company goes away or changes hands, or the internet is inaccessable for longer periods of time, or I decide to migrate to some other system). No backup except printed reports. Wave is still a learning place for me, but it does weird and wonderful things with my USD vs CAD accounts e.g. thinking $10.16 USD is somehow worth about $53.63 CAN in its reports. It also automatically dumps some of my business sales into it's generic Sales income account when I prefer the specific one I set up for each sub-category business.  Hmmm My workaround for each was to add in an 'in/out correcting transaction' (ie an accounting Journal Entry) to move the amounts from where it ended up to where I wanted it so it matched the way all my other accounting systems worked. This works, but requires extra entries and time. Also, since the system is web based, it takes much longer to enter each of these adjustments .. find the account, wait for page load,  click More > Add Journal Entry, wait for page load, enter information, click Save, wait for page load .. you get the idea. The speed of your internet connection and computer will determine your actual experience, but it is noticably more laggy than either of the other two systems I have been using.
Bottom line. I like parts of each application. I love my Google Sheets system for ability to quickly capture transaction details and provide basic updated Balance Sheet information. GnuCash can be synced fairly easily with the Google Sheet but has more professional reporting with drill down and reporting flexibility. Wave is great for Invoices, but takes more work to sync the transaction data and still has some quirks (for a new user like me .. and of course, is somewhat redundant with the other two applications also in use). Your choice. For a mid to small business, either GnuCash or Wave might be more appropriate. For personal finance or a smaller business, the Google Sheets may be all you need. What say you?
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Personal Finance Management - Another how to

19/4/2023

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Other the past several years I have been using an online spreadsheet to manage my finances. It started with a monthly template which was added to, modified and refined into a yearly running check register that I find quite useful today. I have made a sample template to share with interested family and friends (that is you now)!

If you do a search for 'google sheets personal finance templates' you will discover 100's or even 1000's of free templates offered up. Many are more complicated. Some are more colorful. I don't know if my new offering will be of much interest, but it is what I use and I like it. Simple and effective. 

The link to this sample template is found at:  https://docs.google.com/spreadsheets/d/1iq9vZ41E43QfR_JEQj_MQjXvyboBKd2ybWG7Fnr8uTs/edit?usp=sharing
where you can simply 'save as copy' and start customizing it to fit your needs.
Pros:
  • Using it as a google sheet allows me to access and update from any computer/device/phone in the world, although a desktop computer is most convenient.
  • Entering details as soon as possible allows me to remember and document the what and why .. not as much 'honey, what did we spend $xxx on three months ago?'. 
  • Recurring transactions are easily copied and reused .. just insert new line, copy, paste, update dates and info.
  • Split transactions are fairly simple .. just add one line for each part of the split. eg 20 of 100 to Grocery and 80 of 100 to Merchandise ..
  • Completely customizable - if you want 1000 expense categories, you can. If you have 100 bank accounts, you can have those tracked as well.
Cons:
  • Completely customizable - if you mess up .. oops. However, Google Sheets does have a nice undo/history feature that can help you un-mess-up ..
  • No auto offsite backup .. although Google Cloud is backed up .. if you ever lose your Google account or credentials you may be in trouble. I like to download an offsite copy to use as a local spreadsheet backup just in case. Easy! Click File > Download > OpenDocument or Excel and save the .ods or .xlsx file to your local computer
  • Not a double entry system .. so as a workaround I just use the Transfer category and TWO offsetting entries for bill payments and the like eg "100 expense for Bill Payment in Checking" and "100 income for Bill Payment in Credit Card 1" with same dates .. it seems to work.
  • You MAY have to learn how to use or just get around a spreadsheet - ouch
  • You MIGHT get addicted to knowing just where your money is going and how much you have left!
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Grandpa Davies Calendar Ideas

31/1/2023

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In the great covid shutdown, I was in quarantine and a bit bored .. so I asked myself:
  • What if there were 13 'months' in a year + 1 extra 'year day' each yearend plus 1 extra 'leap day' every leap year (about 1.25 days/year) Let's call the new 'months' a 'cycle' of 28 days and let's call the extra cycle/month 'newSol' at mid-year Why? Because the earth circles the sun every 365.25 days in a year. 13 'months' x 28 days is 364 .. only short those 1.25 days
  • Week numbers 1-52 will correspond to Cycles 1-13. Every few years a 'Week53' will occur, like a 'leap week' ..
  • Seasons simplified: A full-year is 52 weeks, half-year is 26 weeks, and a quarter-year (a season) is 13 weeks .. ignoring 'leap week's
  • So what would that look like? Say if my week started on Sunday .. like in USA/Canada
  • What would an automatic Calendar generating spreadsheet look like?
So glad you asked! My  answer was:see docs.google.com/spreadsheets
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Happy 4 years Since Trek

15/4/2018

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Happy Four Years Since Trek (in July 2018)
.. this missive started March 2018 .. and hopefully it reaches each of you sometime before July ..

To My Good Trek Family Children,

Daughters: Hope, Faith, Charity, Grace, Mercy, Harmony and Felicity
and Sons: Lehi, Ammon, Mormon, Mosiah and Nephi

Charity gently reminded me she hadn’t seen a letter from us recently, so I was re-motivated to take pen to paper, or fingers to keyboard, and attempt to touch base with you all once again. We trust this letter finds you each in good health and condition. It is now coming on four years since our wonderful trek experience with you. The next generation youth here are now preparing for a 2018 Moroni’s Quest experience, which I suppose will be just fine .. but just not really the same as what we experienced with you out on the trail pushing our family handcart up hill and down dale, over ruts and around and through potholes, puddles and rivers, with hot days and cold nights in the shadow of the Old Chief mountain.


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Talk: Forgiveness M1 Oct 2016

16/10/2016

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“We have been taught, and we understand, that we must do as the Lord commands ... “ (Primary Song 172 ‘We’ll Bring the World His Truth’). We are taught from scripture, from our leaders, and from out pulpits and, I trust, from above.
The scriptures are replete with scripture where the Lord freely forgives. My search online at (lds.org/scriptures) showed 90 specific references in the Standard Works, 25 from our Doctrine and Covenants, the scripture written most closely to our day. For example: (110:5) to Joseph/Oliver “Behold, your sins are forgiven you; you are clean before me; therefore, lift up your heads and rejoice.”; (25:3) to Emma “Behold, thy sins are forgiven thee, and thou art an elect lady, whom I have called.”; (112:3) and to other church leaders (Thomas B Marsh – senior apostle of the twelve at the time) “Nevertheless, inasmuch as thou hast abased thyself thou shalt be exalted; therefore, all thy sins are forgiven thee.” ; to us all (58:42) “Behold, he who has repented of his sins, the same is forgiven, and I, the Lord, remember them no more.”; (29:3) “Behold, verily, verily, I say unto you, that at this time your sins are forgiven you, therefore ye receive these things; but remember to sin no more, lest perils shall come upon you.”; (61:2) “Behold, verily thus saith the Lord unto you, O ye elders of my church, who are assembled upon this spot, whose sins are now forgiven you, for I, the Lord, forgive sins, and am merciful unto those who confess their sins with humble hearts;”; (64:3) “There are those among you who have sinned; but verily I say, for this once, for mine own glory, and for the salvation of souls, I have forgiven you your sins.”; (50:36) “And behold, verily I say unto you, blessed are you who are now hearing these words of mine from the mouth of my servant, for your sins are forgiven you.”

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Talk: Small and Simple Things M7 Aug 2016

21/8/2016

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“Now ye may suppose that this is foolishness in me; but behold I say unto you, that by small and simple things are great things brought to pass; and small means in many instances doth confound the wise. And the Lord God doth work by means to bring about his great and eternal purposes; and by very small means the Lord doth confound the wise and bringeth about the salvation of many souls.” (Alma 37:6-7)
The use of small and simple things is a pattern used by the Lord throughout history in his dealings with us.

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Talk: To Say and To Do Truth M5 July 2016

10/7/2016

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Sitting in our testimony meeting last week I was thinking on just what it meant to bear and to have a testimony. While I would have liked to be one of those standing to bear a testimony, I didn't really have anything very extraordinary to say, time was short with many others already speaking, and many other perfectly appropriate excuses came to my mind. I have a testimony. I know that God exists, that this is His church. He directs the leaders of this Church to our benefit, that living and following His teachings will bring us closer to Him. We are blessed ​when we follow him.

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Talk: Be Still and Know WE Jan 2016

17/1/2016

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We live in marvelous modern times – technology allows us to accomplish tasks that previously would have been impossible to do. The way is prepared, for us to do His work. Don't bury your talents! Use them for good. Focus. Learn to index. Expand your studies. Keep in contact with friends and family. Share your testimony. Reach out and help others. And when appropriate, turn that Liahona off during Sacrament Meeting and at the Temple and occasionally at home so we can “Be Still and Know”, so we can feel and follow the Holy Spirit.
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Talk: Enduring to the End M6 M2 Oct 2015

18/10/2015

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“Enduring to the end means being faithful to the end. This is not an easy task. It is intended to be difficult, challenging, and, ultimately, refining as we prepare to return to live with our Father in Heaven and receive eternal blessings.” Elder L. Tom Perry (“The Gospel of Jesus Christ” Apr 2008)

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Talk: Changing Our Hearts, Shining Lights DB Aug 2015

16/8/2015

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“Therefore, hold up your light that it may shine unto the world. Behold [the works which ye have seen Christ do - the things we each should be doing to be like Him - our 'light' is] the light which ye shall hold up [to the world ..]” (3 Ne 18:24 modified). 
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ldsliving.com

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    Roger Davies

    My mom (and my grandkids) couldn't be at all my public speaking assignments, so I post them here for them/her and you to read ..

    Disclaimer: These thoughts are not official church policy and in the end are but my own current ideas on the subject(s) 'mingled with scripture'. Regardless, I hope they are of some value to you, dear internet browser.

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