Beancount is both, but you can do either one or the other or both. In particular, you DONT need to learn double entry to do plain text accounting. Of course, you SHOULD learn double entry accounting because it's a great tool for organizing knowledge.
Whether plain text is beneficial for accounting is less clear cut in my mind. I think plain text is backlash against the over-reliance on "services", "clouds", and "lock in", but I think it's misguided. If you're concerned with someone locking you in, it's perfectly concievable to do double entry accounting which lives only on your computer and manipulated with software that is under your control (read: free software).
So in summary, my opinon is:
- accounting: important
- double entry: important
- avoid clouds and ventor lock in: important
- plain text: unimportant
I was also confused about double-entry accounting for most of my life until I read the article, "Accounting for Computer Scientists"[0] by Martin Kleppman (author of Designing Data-Intensive Applications). It explains double entry accounting in a surprisingly accessible way by putting it in terms of graph theory. I don't even like graph theory that much or consider myself competent in it, but Kleppman's explanation was extremely effective.
[0] https://martin.kleppmann.com/2011/03/07/accounting-for-compu...
Two main goals: track how my expenses evolve over time, and stay on top of how much money I need to reserve for the coming year to pay those bills. Anything that's leftover is spending money. Which I dutifully spend.
- Everything is managed by build system that is able to track dependencies
- Inputs from financial institutions are kept in the repo as is
- Those inputs are converted by your scripts to .csv files that are readable by PTA import engine
- There are rules files that describe how to convert .csv lines to PTA entries
- Generated files are included from per-year PTA journals (and you can put any manual transactions in here also)
The benefit is that you can change any part of this pipeline, and just re-generate the changed parts:
- improve the program that converts to .csv - raw data immediately gets better across the whole repo
- add/customize import rules - better classification is immediately applied to all of the past data
And with this approach you can start small (like, a single month of data from your primary bank), and refine the thing in steps, like adding more historical data or adding more data sources (examples being not only bank statements, but even things like itemized Amazon orders and Paypal slips).
As we've crossed into the new year I've switched to a similar directory setup as the OP with 1 file per year. Previously I just had one file that was from 2022 which ended up being like 2 million lines of text, which was starting to bog down the emacs plugin.
What I appreciate the most about this approach to personal finances is it just tracks everything. Investments, pensions, RSUs, bank accounts. You could even go as far as accounting for any resource that's modellable, e.g. energy usage in kwh vs. bills. I probably wouldn't go that far though :D
Also you can build a bunch of tooling around it too, with the advent of LLMs my toolset for beancount management has expanded quite significantly. Most recently I got claude to rewrite my transaction rules engine https://djharper.dev/post/2025/08/19/using-llms-to-turn-scri... into something nicer with a UI. This would have taken days to build in the before times, and I probably would not have bothered because it's overkill for 1 user (me)
But good to hear the positive story side for this.
And when it’s fragile even when working. The cost per unit changes with limited notice in various ways (line rate, unit cost, time period that various rates occur, the day, ‘free’ power bonuses etc).
I did that for myself and it took me at most three months of parttime working on it, resulting in a bespoke solution. No need to keep paying some SaaS or fiddling around in Excel. One still needs to learn the bookkeeping system though, but that's true for all options. A SaaS is not magically make that go away.
Then, there's the import workflow: which "accounts" should you start with? How much history do you pull in? How do you set up an automatic importer? Hledger has a DSL. Beancount uses Python. Either way, an OP says, much of your time is spent manually editing text.
And finally, then what? Can I make a budget now? Will this thing do my taxes? Am I more financially responsible? How do I explain this to my spouse? My pension is kind of like a commodity, but I don't know what the unit price is, and I don't sell units, but what's a virtual PnL and what if I only have a quarterly PDF!?
It may sound like I'm ranting, but I have found that realizing I don't know the answers to these questions (or even that they exist) is the true benefit of PTA.
Every year, I'm asked if I want a different pension investment mix or if I want to change my car insurance. Or, I might wonder if I'm getting a good deal on my internet plan or if a new job offer's total comp is actually better. Am I "on track" for "retirement," how long until I have enough for a new roof, am I keeping up with inflation, did I spend too much on gifts this year?
There's immense privilege in not really needing to know the answers to these questions; getting them "wrong" won't really hurt you. But, being familiar with the routine minutiae of your economy by way of counting every cent, is rewarding, enlightening, and empowering—even if it's also finicky and brittle sometimes.
I may have to try beancount again. OP's importers look promisingly robust compared to my hledger scripts.
Re: learning curve, it's not that difficult. Shameless plug: I wrote a textbook (actually, a textbooklet, if that is a word;-)) about the basics of DEA, focused on personal finance and using ledger-cli: https://leanpub.com/personal-accounting-in-ledger/
Double entry book keeping isn't that difficult but that's easy to say once you've been doing it a while
I've been doing PTA since around 2018 and there's definitely lessons I've learned along the way along with plenty of mistakes.
I think the main benefit for me is just the system gives you a complete picture of your finances. The commercial services you can pay for just give you a view into a certain slice (e.g. open banking in UK/Europe to see your current account(s)) - I think mint.com did something similar in the US but it never came over here, I don't know if it still exists. Maybe that's enough for most people, but for me I want everything, investments, liabilities, assets etc. None of these commercial offerings have that because it's so complex and niche, e.g. your open banking provider won't tell you how your pension is doing.
It's also just nice to have the provenance of transactions, e.g. if you receive some shares from work, and you sell the shares and the money ends up in your bank account - the incoming transaction will just be the net proceeds but it won't tell you if you paid any tax prior to that - PTA gives you a more of a complete picture that tracks the whole chain of events that led up that transaction into your bank happening. Overkill for most people? Probably.
https://www.cnbc.com/2023/11/07/budgeting-app-mint-is-shutti...
Anathema?
Yes, I know the data live in a data-center/cloud. But, don't the content of all those statements, payments and bills live there too. Yes, I know the service might go away tomorrow. But, couldn't one find the new-new service and import it all again from the banks, cc companies, utility companies etc.?
I like text accounting. It's useful. It has a niche. But, is this the best use of your time every month?
Tastes differ, but 30-45 minutes a month to hand-key data (or write the scripts that avoid that) isn't my taste.
However, I just cannot bring myself to constantly pull the transactions down manually from multiple banks.
Many suggest automating. How is this working in practice? Are there providers like Plaid you can use? Build web scrapers? Build PDF statement parsers?
I ended up just paying YNAB the $130/year or whatever they’re at now. High wife approval factor and everything just connects. They also have an API. In theory I could just constantly backup YNAB with PTA by pulling down transactions from the API.
Some I wrote by hand using PyMuPDF, some I coerced Claude into writing (again using PyMuPDF) by uploading a sample bill (I'd never put my own data into an LLM but it's nice being able to find a sample bill, gets it close enough to correct that I can do the remaining bits if there are variations in bills over time).
Overall it's effort (and yes certainly effort for manual transactions). The financial industry is very behind on this stuff clearly. I'm not sure in a few years whether I'll still think it's worth the effort I put in, which has gone down over the past few months as I automate things, but until it stops being fun I'll keep going.
I ended up just logging my total holding of cash and stocks spread over my different bank accounts and my investment portfolio. Doing it every few months helped me make sure that my overall holdings went up. As long as I pay off my bills and then save enough to see my holdings rise I am happy. However I can see that having a more detailed overview over your spending might help you cut down even more.
https://beancount.github.io/fava/
I really like its big picture view of the accounts, the search / query interface, and live editing of transactions.
I dump more raw data in every month, handle the 1-2 new edge cases in code, and voila: a complete, accurate, queryable, debuggable, visualizable, and fully reproducible history of my finances.
It's crazy to see just how much money I've paid Netflix since 2015 (and I'm a sub since 2011). Or Starbucks (which I rarely go to). But it's very powerful. One thing I've long wanted is better visualizations.
Intuit sucks as a company, but I can hack my way around their requirements for upgrades
I started storing all my notes (500+ by today) in markdown files locally. It's easy to search and navigate with grep and ag/rg. It's easy to edit in Vim or your favorite editor. It's easy to append all sorts of informations. I add some flags and properties in metadata, like last_reviewed, some tags, etc.
The versioning and sync is solved by git + a private github repo.
Why would you go that unintuitive route instead of simply having a category "Supermarket" (with your most common supermarkets autocategorized by name) and payee "Netflix"?
My bank has some very limited options to move specific amounts of money on a weekly schedule, but I'm looking for something more powerful then that.
Should I look at like ~Stripe~ Plaid or something? Or are there more pre built tools?
$ git log --oneline --reverse | head -n1
5f72575 Initial commit: January 2022
I'm also yet to migrate to beancount v3.
It's cumbersome at times, and I do miss the (G)UI of entering transactions, but with (neo)vim I got used to it and I breeze trough my finances in 15-20 minutes once a week.
I'm intrigued by this and now thinking I should start doing it. Just start with a clean slate for 2026 and see how I go.
But for the vast majority of people (even including devs), this will not be ideal at all and most people don't really care about it being in text files.
What I'm trying to say is that its designed for a very specific niche userbase and I doubt most people will have the same experience as you described after trying every single personal finance app to settle on this.
I just spent a few hours using LLMs (aider, specifically) to reconcile my books for the past year. Worked great, but was slightly fiddly.
I'm about to start out again and I chose not to track different categories individually, knowing that I can still add sub-accounts to distinguish between them later (even if I can´t recover the information for older transactions.)
Now I just need to investigate how to track gains/losses on the ETFs I own but that's common enough that there should be information out there on how to do it.
Start easy and see what you want to get out of the data. If you can store the original source (e.g receipts) so that you can later go back and increase the granularity if you find yourself wanting it, that would be ideal.
I just put "Groceries" account based on the total that gets charged to my card. If there's a substantial item that doesn't fall into groceries then I can split that out on a case-by-case basis (e.g. I go to Costco and buy both a bunch of cereal and a dehumidifier).
But what about basic Cost Of Goods Eaten?
I have fading thermal tapes in boxes with grocery store purchases. They get scanned once a year into large PDFs: grocery, home goods, repairs (large purchases are kept separately for easier finding).
I’m considering if a personal AI subscription to manage the data interrogation is worth the cost (not excited about the $20/mo cost. NPR should get the next $5 of my monthly).
Now here’s the funny part. The data sits in a box all year or in PDFs for years, and gets little attention. What janky home server AI could I spin up to perform as bad as me (but no worse)? Maybe move the data in those text files and PDFs into SQLite?
I am already used to logging everything manually, so importing isn't needed for me. Also I think having some 'manual labor' in this regard can help with becoming more 'in tune with your finances', to actually learn what is going on, instead of having an app that you check once a month.
I made a tool that parses transactions (of my specific bank) into categories based on tx description and a GUI to analyze them in different time frames.
Highly recommend.
I think I'll finally give PTA and beancount a go this year. I'm tired of changing and re-learning tools due to enshittifcation, so I heavily prefer those that use open formats / plaintext. I use Obsidian for my notes, specifically because it's just Markdown files. Since I realized that I don't even really use most of Obsidian's features, I might just switch to a regular editor + a markdown viewer.
I would be okay with that as a monetization model, except that the book author despite being a self-described FOSS dev doesn't seem to have anything to do with the project (https://github.com/beancount/beancount/graphs/contributors).
Ah, not quite true. The author fixed a typo in a docstring once (https://github.com/beancount/beancount/commit/8584763b618f76...).
Can you point to some of your contributions to this project?
[0] https://github.com/siddhantgoel/awesome-beancount
[1] https://github.com/siddhantgoel/beancount-n26
[2] https://github.com/siddhantgoel/beancount-ing
I'm just, you know, pretty sensitive to HN submissions trying to sell me something.
And that's still ignoring that evangelism is also a valuable contribution.
I know money is the root of all evil and all that, but a total aversion to it isn't a very healthy way of interfacing with it at all.
That's 6–9 hours every year!
5 years: 30–45 hours
10 years: 60–90 hours
I'm now considering combining by finances with my partner. It would make a lot of things easier. We'd get paid into a joint account and then pay ourselves into individual "spending accounts" according to our budget. Anyone have any experience with this kind of thing?
All those require standard entries and processes, which I've yet to find, which means that now I need to become an accountant and write these standard tools.
None of which generates any income and only creates more work for myself.
I absolutely hate my current accounting software, but this is not (yet) a viable option as far as I can tell.
Happy to learn I'm wrong.
I think a nice thing about beancount is that given how simple it is you can almost even ignore whole parts of it. In my case I chose to write my own importing tooling essentially without learning at all about the built-in one: https://github.com/Julian/alubia. I had no intention to make that approachable for lots of users not named me (in fact none of my actual importers are present) but it's been very fun to watch my ledger get more and more accurate.