Getting Started

Initial Setup

Creating Your First Ledger

; Basic structure for a new ledger
2024-01-01 open Assets:Checking
2024-01-01 open Equity:Opening-Balances

2024-01-02 * "Initial Deposit"
  Assets:Checking           100.00 USD
  Equity:Opening-Balances

Essential Configuration

option "title" "Personal Finance Ledger"
option "operating_currency" "USD"

File Organization

Recommended Structure

; 1. Configuration Options
option "title" "Personal Ledger"
option "operating_currency" "USD"

; 2. Account Declarations
2024-01-01 open Assets:Checking    USD
2024-01-01 open Assets:Savings     USD
2024-01-01 open Expenses:Food      USD

; 3. Initial Balances
2024-01-01 pad Assets:Checking Equity:Opening-Balances
2024-01-01 balance Assets:Checking 1000.00 USD

; 4. Transactions
2024-01-15 * "Grocery Store" "Weekly groceries"
  Expenses:Food            50.00 USD
  Assets:Checking

Section Organization

1. Eternal Accounts

   2024-01-01 open Liabilities:Payables    USD
   2024-01-01 open Assets:Receivables      USD

2. Bank Accounts

   2024-01-01 open Assets:Bank:Checking     USD
   2024-01-01 open Assets:Bank:Savings      USD
   2024-01-01 open Income:Bank:Interest     USD

3. Investment Accounts

   2024-01-01 open Assets:Investment:Cash    USD
   2024-01-01 open Assets:Investment:Stocks  VTSAX
   2024-01-01 open Income:Investment:Dividend USD

Validation and Reporting

Basic Validation

# Check for errors
bean-check ledger.beancount

# View web interface
bean-web ledger.beancount

Common Reports

# Balance sheet
bean-report ledger.beancount balsheet

# Income statement
bean-report ledger.beancount income

# Account journal
bean-report ledger.beancount journal -a Assets:Checking

Managing Initial Balances

Padding Example

2024-01-01 open Assets:Checking    USD

; Pad account to match known balance
2024-01-01 pad Assets:Checking Equity:Opening-Balances

; Assert known balance
2024-01-01 balance Assets:Checking 1525.00 USD

Account Closure

2024-01-01 open Assets:OldBank:Checking   USD
2024-06-30 close Assets:OldBank:Checking  ; Account closed

Transaction De-duplication

Handling Transfers

; Credit card payment - combined view
2024-01-15 * "Credit Card Payment"
  Assets:Checking            -500.00 USD
  Liabilities:CreditCard     500.00 USD

; Flag for pending match
2024-01-15 * "Pending CC Payment"
  ! Assets:Checking         -500.00 USD
  Liabilities:CreditCard    500.00 USD

Balance Assertions

; Regular balance checks prevent duplicates
2024-01-31 balance Assets:Checking    2150.25 USD
2024-01-31 balance Liabilities:CreditCard  -350.00 USD

Best Practices

1. File Organization

   • Keep one main file initially
   • Use clear section headers
   • Group related accounts together

2. Account Names

   • Use consistent naming conventions
   • Include country/institution prefixes
   • Maintain logical hierarchy

3. Balance Verification

   • Regular balance assertions
   • Pad accounts appropriately
   • Track account closures

4. Currency Handling

   • Declare operating currencies
   • Use consistent commodity codes
   • Specify currency constraints

These guidelines should help establish a solid foundation for managing personal finances with Beancount.