Michael Tsai on Twitter: "@mhenders It doesn't seem to be very time consuming. If I'm out, I enter from the receipt (or OmniFocus note if no receipt) when I get home."

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Matt Henderson ‏@dafacto 30 May 2014

Budgeting & Financial Monitoring in the Internet Age — http://www.dafacto.com/2014/05/30/budgeting-financial-monitoring-in-the-internet-age/ …
Michael Tsai ‏@mjtsai 30 May 2014

@mhenders Those apps don't let you assign a category/bucket to each transaction?
Matt Henderson ‏@dafacto 30 May 2014

@mjtsai Oh, you mean manual assignment? Yeah, that’s possible, but then it’s back to the old days. :-(
Michael Tsai ‏@mjtsai 30 May 2014

@mhenders And if you aren't entering the information yourself, it's just "reconciling" against the institution's own data.
Matt Henderson ‏@dafacto 30 May 2014

@mjtsai Oh, you manually enter all your purchases, and then reconcile against institution statements?
Michael Tsai ‏@mjtsai 30 May 2014

@mhenders Yes (like an animal). As they happen. Otherwise it's just skimming, not reconciling, and no way to see what's outstanding.
Matt Henderson ‏@dafacto 30 May 2014

@mjtsai Do you find that’s very time consuming? (And do you enter them when you’re out in an app or something?)

‏@mjtsai

@mhenders It doesn't seem to be very time consuming. If I'm out, I enter from the receipt (or OmniFocus note if no receipt) when I get home.

10:34 AM - 30 May 2014

Michael TsaiVerified account