One account vs. multiple on Goodbudget?

  • 1
  • Question
  • Updated 1 year ago
What are the pros/cons of having one account vs. multiple on Goodbudget? Should I be distinguishing between my separate credit cards or is one okay?
Photo of Nafisa Kassam

Nafisa Kassam

  • 3 Posts
  • 0 Reply Likes

Posted 1 year ago

  • 1
Photo of Lionel

Lionel

  • 17 Posts
  • 4 Reply Likes
You can deal with one but you need to identify your other accounts into your envelopes. This makes harder to compare your account transactions vs your GB transactions and you do not have an immediate comparison between your bank account and goodbudget. So I'd say having one account is manageable but having several is more convenient. If you can afford the monthly 5$, go for it !
Photo of Wayne Woodbury

Wayne Woodbury

  • 233 Posts
  • 179 Reply Likes
I agree.  This really boils down to whether or not you want to reconcile your GB accounts with your actual bank accounts.  Trying to reconcile transactions from multiple bank accounts with a single GB account would be nearly impossible.  If you don't plan on reconciling your bank accounts with GB, then one is probably fine, but that makes it very difficult to tell if you made a mistake or forgot to record a transaction.