Ultimate App to Keep Your Bank Accts Organized?

Discussion in 'iOS Apps' started by boba7523, Oct 20, 2014.

  1. boba7523 macrumors regular

    May 14, 2011
    Is there an ultimate app that can help you keep track of your bank accounts, in particular, have checkbook function so you can keep track of who you wrote a check to, if your bank has enough money for it, etc?

    I very rarely use my checkbook and just realized how risky it is if I were to write a check for a large amount and not have enough money in my bank.

    I use Mint, and though it reminds me of when my fees are due, it doesn't have the checkbook function. Would love if they could integrate it in though.
  2. infantrytrophy macrumors regular

    Oct 27, 2013
    I just use my bank's web site. Not kidding - it works great. Not an app, just access the account right in the web browser. The bank is USAA, by the way.


    Here's how it works:

    I log onto the bank's web site and navigate to the checking account. All cleared transactions are listed on the screen, with running balances, for as far back as 6 months if you want, and for 3 months in the future in the "pending transactions" section. I manually enter "pending" transactions for checks written (and not cleared yet), for (large) bills paid in the Bill Pay module, but not cleared yet, and for deposits scheduled (but not yet cleared). Then I can see the future projected balances that will occur when the paid bills, checks and deposits are processed. I don't bother to manually enter small bills paid - less than $50 or so. I keep enough money in the account so there is no need to keep track of small day-to-day variations. In the "pending transactions" section all you need is a rough idea of the balance, enough so you don't go below the minimum required until the next deposit.

    The bank has a good "Bill Pay" module. I pay bills through this module, then enter the future payments into the "pending payments" part in the checking account section. When each payment clears through the checking account, it is automatically reconciled (removed from the "pending payments" list since it is now in the cleared transaction section).

    All transactions are funneled through this one account - deposits, withdrawals, checks and paid bills. I'm retired, so I have savings/investment accounts from which I transfer funds to this one checking account. It would work the same way if you had a paycheck deposited to the checking account.

    My "main" credit card is with this bank also. I can see the current balance right on the web site, so in the checking account "pending" section I enter an estimated amount to pay the credit card bill at the appropriate time.

    This system is simple, partly automated (auto-reconcile of the BillPay pending payments) and involves minimal data entry. I don't need a separate app. There is no unnecessary data entry. Since most bills are paid through the bank's BillPay module, I write very few checks. BillPay payments are automatically transferred into the checking account section. There is no need to manually keep a running checking account balance in the paper checkbook register. The running balance is simply viewed in the bank's web site, in the checking account "pending payments" section.

    It's all about simplicity. No one wants to be a slave to manual data entry. Let things happen automatically as much as possible.

    For investment accounts, I moved most of my mutual fund/brokerage investments to one firm (Vanguard). Vanguard's web site is excellent, and allows you to see all of your accounts, including linked outside investment accounts, in one place. Fidelity works the same way, and I suspect that other investment firms (Schwab, etc.) are similar. To move money between your investment account and bank account, simply initiate an ETF (Electronic Funds Transfer) on the bank or investment firm web site.

    Works for me. Keep it simple, don't make it harder than it has to be.

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