PocketSmith Personal Finance

PocketSmith: The Best Personal Finance Available

Have you ever found yourself wanting a product to make your life truly easier, searching on the Internet and finding many products that are close but do not offer the full feature set you want. This was true for me with personal finance software over the last couple years. I stumbled across the product that served every purpose I needed and then some. Enter: PocketSmith.


Before I get started explaining PocketSmith, let me give you a few of the online products I did test and why I chose PocketSmith over them:
Mint: I use this for several years, however, it is oversimplified for my financial situation. It may be great for entry-level folks in their teens and 20s, but not for those who own real estate or have a business.
Wave Accounting: actually, this was my second runner-up for online products. It offers business and personal accounting, however at the time of my use some of the automation did not work as well as it should have.
Cheqbook: this was also a great product, but geared towards business and not for personal use. The automation was great but what if required by personal finance set up to be fed into a business accounting package.
Buxfer: this was a pretty good package, but not ready for prime time because of lack of reports and end of year documentation for taxes. Buxfer is getting close and may be worth a look at if you want to spend less money than PocketSmith.
You Need a Budget (YNAB): YNAB is a well followed and supported product. I could have made this one work, however, it did not offer reporting and would not have been as robust for my financial situation.

I also tried software packages for both Windows and Mac. On Windows the most relevant is Quicken which offers great rental property management. Banktivity is probably the best Mac software and works very well. Personally, my life using Max was not long-lived and with Windows 10 I decided to go to Windows only computing. Quicken, in my opinion, is one of the worst programs to use. I liked the features, however, the software is always buggy, I could never have my accounts reconciled properly, and the time investment did not make the product desirable. The point of computers should be to make your life easier, not harder. Unfortunately, Quicken had promise that defied this basic law of efficiency.

PocketSmith is the Bomb!

Enter PocketSmith. I have found PocketSmith to be fairly user-friendly, very powerful, and very efficient for year-end accounting. In the past, regardless of the product I used, I found myself waiting until the end of the year to complete the categorization and other end of your tasks. With PocketSmith, I have been doing it all year with minimal effort and no large tasks for end of year accounting. Most of the time spent has been trying to develop further automation for my situation. This means creating macros for bills that may not auto categorize, it can be automated due to their fixed-price or time of month they come in.

PocketSmith has many features, here are the ones I would propose are most important:
• automatic live bank feeds
• easy to organize transactions
• automatic categorization
• forecasting
• flexible budgeting
• net worth reports
• customizable income and expense reports
• dashboard for overview of finances
PocketSmith is not the cheapest product available, but well worth the money. I believe most people would be fine on the $9.95 per month plan, and some may even be okay on the free basic plan. The premium plan dubbed “super” plan is $19.95 per month. Both paid plans offer discounts for paying annually.
If you would like to try PocketSmith, please get started by clicking here!

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