Many years ago I used Quicken, kept a checkbook and balanced it monthly and had spreadsheets, ... for financial records. Around 2004 I realized my "checkbook" was online, always in perfect balance and felt my arduous record keeping was superfluous for accuracy. As long as I did not make errors and had access to my online banking account, I did not need to keep a checkbook. I stopped recording payments. If I felt insecure, I could always download monthly statements.
Now, many years later, my "system" of record keeping is:
1. Make sure my credit card entries are valid (online)
2. Check my online banking entries, almost daily
3. Almost all of my monthly payments are on auto pay either from a credit card or auto draft from my checking account
4. I manually write an online check for irregular/current bills
5. Occasionally write a check for gifts, and other incidentals
6. Use credit cards for almost all daily expenses (shopping)
7. My use of cash is limited. I also have a record of withdrawals online
8. I make online deposits of occasional checks using a camera
9. All income is via auto deposits to my online bank account
So, why would I need software (Quicken or other) for accurate accounting? If I want to know if I can afford a purchase, I simply look at my online balance. Or, my credit card companies provide a yearly categorized listing of expenses. Also, my bank offers online software similar to Quicken. I did use that, but gave it up years ago.
note: My income does not change other than a cola adjustment.
Any input? If you want to tell me I'm crazy, I already know that.
Thanks for indulging me.
Mark