DeguelloTex wrote:And this is why I will be stuck doing double entry in Quicken and YNAB for all time, unless Quicken adds a YNAB-like budget module.
I enter all of my transactions but my wife forgets a few. Direct Connect allows me to catch those - and a couple of random unauthorized charges from hotels and the like - without having to go to multiple websites or wait and be surprised when the statement shows up. It also allows me to keep an eye on my investments and spot any fraudulent uses of my credit cards the same day.
I understand that Direct Connect doesn't necessarily fit in with YNAB's view of the world and that YNAB doesn't purport to be Quicken, but if Quicken ever implemented a cloud-syncable zero-based budget tool my days of double entering my data would be over.
I did that in the past as well but found it was much easier to logon to my bank and credit card website to get up-to-date transactions. Also, transactions always showed up in the Quicken download a day later than I was when I was able to see them on the website. We only use one checking account and one credit card 99% of the time so checking really isn't an issue. I update YNAB 2-3 times a week.
We don't get any paper statements anymore and I don't bother downloading and reconciling my month-end statements because I'm technically 'reconciling' to the bank/cc balance every time I update YNAB now.
For investments I logon to our broker's website where everything is consolidated and do everything there.
For us anyway, I found it was much less stressful to just use YNAB and for go Quicken because the value it added wasn't enough to justify keeping it. I have definitely used a combination of Quicken, Mvelopes, YNAB, Excel spreadsheets to keep track of our budgeting/spending/account balances. Everyone has to come up with a system that works for them though and stick with it.