2024-07-11 GnuCash IRC logs
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07:31:06 <Kaligula> .
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09:26:49 <warlord> .
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12:59:12 <amanda> I'm trying to set up automatic syncing between GnuCash and my bank. But I'm totally mystified by the first set of options: how would I know what banking profile they use?
14:14:46 <jralls> amanda, what country are you in and what online banking is offered by your bank?
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16:36:00 <amanda> jralls: USA; I can log in and view balances and in most cases download a QFX file. But I feel like you might be asking a different question?
16:36:50 <amanda> jralls: when I think of "online banking" I think "I can log in and manage my accounts." Which I can do. I can queue bills to be paid and move money between accounts by logging into my bank.
17:34:53 <jralls> amanda, you asked about syncing between GnuCash and your bank. In the USA you can only download transactions from your bank. No bank offers a way for GnuCash to send transactions to the bank. There is an open protocol called OFX Direct Connect that enables GnuCash to directly download an OFX/QFX data stream from a bank that supports it.
17:37:19 <amanda> jralls: that makes a ton of sense.
17:37:27 <jralls> amanda, Unfortunately there were never a lot of banks that supported it and the number has been dwindling for years.
17:37:57 <amanda> Support for direct downloads of OFX/QFX has been dwindling?
17:38:52 <amanda> jralls: I should clarify, I don't think it makes sense and I hate it but at least I feel less like I'm losing my mind trying to understand how I would even start.
17:40:56 <jralls> Download support has been dwindling too, but not as fast as support for OFX Direct-connect. As for getting started have you looked at https://wiki.gnucash.org/wiki/Setting_up_OFXDirectConnect?
17:41:06 <amanda> It sounds like what you're saying is that if I'm in the US I probably need to ask my bank if they support OFX Direct Connect.
17:41:42 <amanda> jralls: thanks for the "setting up ..." link. I hadn't even gotten as far as "Since i'm in the US what is likely to work is OFX Direct Connect"
17:42:18 <jralls> You can do that, but they probably won't know. They can tell you whether you can connect with Quicken but they won't know what protocol it is.
17:42:18 <amanda> I don't even need to sync, tbh. I just want to automatically update GnuCash with data from my bank.
17:42:29 <amanda> jralls: got it.
17:44:37 <jralls> You can download QFX files and import them into GnuCash. That's better than I can do with either of my banks. I can only get CSV.
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19:15:54 <amanda> jralls: My work 401k generates a CSV that has the dates as "Jul 3, 2024" which GnuCash can't even read.
19:18:22 <jralls> amanda, OK. Sorry to hear that. If you're not able or not willing to preprocess your spreadsheet then I guess GnuCash doesn't meet your needs and you'll have to find something else.
19:21:47 <amanda> jralls: I'm just whining. Letting customers download QFX files at regular intervals should be a bare minimum for any self respecting bank.
19:27:59 <jralls> I guess there are a lot of banks out there without much self respect then. They have a new business model called account aggregation: https://www.investopedia.com/terms/a/account-aggregation.asp. You'll notice that it's a way for them to make money.
19:34:15 <amanda> jralls: i really appreciate your help in figuring this out today.
19:34:36 <jralls> amanda,
19:34:42 <jralls> you're welcome.
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