So, I have made the giant leap to doing a free trial with 1 x portfolio (my SMSF account) and it looks ok in Sharesight, but, of course, only using 10 of the stocks in my portfolio. There was a lot of fixups required after dumping all of the transactions from Selfwealth from the past 5 years, as I was with Commsec and others for many years prior to SW, so Sharesight couldn't match some of the sell transactions with anything until I manually corrected with old buy entries and DRP entries, etc. Probably 4-5hrs to get it accurate.
Before I go nuclear and pay for the full Investment Subscription, I noticed this lovely prompt in the accounts section:
So, does anyone know if it's possible to download or backup a version of Sharesight in case either they have a cloud computing issue, go out the backdoor, etc. or I decide I like another program better and take on a different program for share tracking? At least with my current version that is PC based, I can do a full backup. Granted, it will only work with that program again and once I cancel that subscription (to Maus Stockmarket Plus) that data is no longer able to be utilized unless I started a new subscription at some time I the future. Maybe I'm being a bit paranoid, but I do have to keep 7 years of data for 4 x portfolios for the ATO as a minimum and have share trades dating back 20+ years (including old DRPs, capital returns, share splits, etc.) that have to be maintained until sold.
Do my fellow SM members simply rely on Sharesight to never miss a beat and to never be hacked or loss any important data (and to pay Sharesight whatever they may ask for annual fees for the term of your portfolio's natural life)?
Love any opinions or thoughts from current users??
Thanks for raising this forum article @Arizona . I've been meaning to do something about my share tracking software for some time, but like all things, it was left to do at some time in the future (that never comes unless prompted e.g. your forum post and the responses from everyone).
I've been using a program by Maus called Stockmarket Plus. I've been using it for many years (originally called StockEasy) as a standalone software installation on a PC, but 2 years ago, Maus followed everyone else and changed their one time subscription into SaaS. Reckon did exactly the same (annoying) thing with my accounting program and somehow they both totally ignored the EULA I had agreed to when I purchased the one time, free-to-use-forever programs. It was done simply by Reckon stating they needed to unlock the program every few years and they were turning off their servers that perform this function (so bad luck). Stockmarket Plus was a little more clandestine by offering a cheap trial for 12 months, only to advise the software could not be reversed at the end of the year to a standalone product again. Both sad examples of reaming the customer for the greater good (of the Supplier).
I would still be happy to stick with Maus Stockmarket Plus, but they now charge $41/mth (I have to manage 4 x portfolios separately) and it is still a standalone product with a single instance only licensed for this fee, so no ability to use on multiple PC's, laptops or mobile app.
Because I've had some shares for a very long time across various brokers before moving to Seelfwealth, I'll need a fair bit of work to get Sharesight up to scratch, but I'll start by trialing the free version with my SMSF portfolio for a week, and if comfortable, will use the SM discount for the Investor option. I still have until June 2025 paid in advance for Maus Stockmarket Plus (which had all of the reporting and portfolio management I needed) but will changeover to the better priced and better featured Sharesight for $29/mth over that time.
Cheers for the push @Arizona and the responses and feedback from everyone else!!
BTW if anyone is wondering why I don't use Xero instead of Reckon, it's simply that the 4 x separate entities add up to being an expensive monthly fee on Xero and I'm happy to manually add most of my transactions anyway. Maybe if Xero offered a better price for a 4 x entity subscription down the track I will head in that direction.
Footnote: Just realised the free 4 months for being a SM member is actually a bit of marketing nonsense. Yes, you get a 33.33% discount (not 4 months for free), but off the standard monthly fee, not the standard annual fee. In other words, you pay ~$310 first year as a SM member instead of $348. Not exactly 4 months for free at $29/mo, but I guess it's something. Just wish that was a bit clearer upfront!!
HURRY! This offer is expiring soon — get an extra 33% discount in addition to the 25% off on yearly subscriptions!
Claim extra 33% discount on yearly
This deal runs out tomorrow 9th August 24