Banktivity: Budget & Finances

I started with Banktivity when it used to be called iBank. It was the app I needed to get me out of Windows and Quicken world. Everything has been good up until whatever recent version introduced the Ledgers “feature”. In short, it has completely blown up my workflow of using the same iBank file saved in iCloud, so I can travel and access it via laptop, or access it on my main computer at home. Not anymore. Now, once you import your old iBank file, you no longer have control of where the data is stored (apparently now it stored on the local machine somewhere in a Library folder). Sure, I could get the same functionality back for my workflow IF I subscribe to Banktivity cloud features. Sorry, but no. Enough with these subscriptions already! So now I’m looking for a replacement because this type of shakedown in the name of “we’re making it better for you” is absolute bs and I know I speak for a lot of other users when I say we are tired of being treated like ATMs. But if you only need it on a single computer and/or don’t mind paying their subscription fees, then the software is likely a better fit for you than me. There was literally nothing wrong with the software before this, and the lack of ability to turn off this “feature” tells me everything I need to know about this company now. It was fun while it lasted, but I’m moving on.

My wife and I have been Banktivity (or its predecessor) users since our retirement in 2014. My current data file essentially contains 100% of our income, expenses, and accounts over that 11 years. We have 15 active accounts and 11 active credit cards and another 30 closed accounts or credit cards. Overall we have been very pleased with the application; it has been exceptionally stable and error free over the entire period. Most accounts automatically sync with the bank/financial institution but a few don’t always allow this so we can either manually enter transactions or download blocks of transactions each month. A few simple small/accounts have manually entered transactions by choice. There have been many improvements over the years and automatic downloading/syncing has seen the most significant improvements. I think anyone would find the program very useful , stable, and accurate. For me there are some minor inconveniences that may not effect everyone.(they are also being constantly improved in updates). For me, most downloaded transactions need to be reviewed. Amounts, balances and payees are all quite accurate, but categories, tabs, and notes often need review if you are very fussy about this sort of thing as I am. Credit card transactions often need the most scrutiny in this way. Reports can sometimes require a little work to get just right. Overall, very satisfied and I look forward to continued updates.

I have been using Banktivity for more than a decade now. For the most part, Banktivity has done a good job doing what I need it to do; help me manage my banking and investment accounts. One area, however, which has caused me to scratch my head over the years is an issue related to credit card accounts where credit card transactions that are downloaded are assigned the category, Withdrawal, instead of Charge. Debits against a credit card are charges, not withdrawals. Withdrawals are immediate, charges are not. Seems like this would be a simple fix. If an account is identified as a credit card account, then debits within these accounts should be categorized as a charge. Afterall, why have a category, Charge, if you're not going to use it for credit card transaction downloads? Why is the category Charge automatically assigned to manually entered transactions but not to downloads? Other than this overlooked nuisance on behalf of the Banktivity technical team, the software works well and I would recommend it to others.