Move from Excel to wealth-tracking software
Your spreadsheet works, but every new account needs another formula, chart or rule? My Wealth provides a structure already designed for assets, liabilities, income and goals. You can focus your tracking on the data and what it means rather than building the tool.
Excel remains useful for a highly customised model. The choice depends on how much of your work you want to keep in the spreadsheet or entrust to a dedicated application.
1. Compare the two approaches against your actual needs
| Need | With an Excel spreadsheet | With My Wealth |
|---|---|---|
| Wealth structure | You choose the sheets, columns and relationships | Owners, institutions, holding accounts, assets and liabilities are already provided |
| Net wealth calculation | You define and check the formulas | Assets and liabilities feed the built-in views |
| History | You organise statements and how they are retained | The wealth change log is associated with the document |
| Allocation and analysis | You build the tables and charts you want | Allocation, concentration and debt views are available |
| Multiple currencies | You define exchange rates and conversions | Original currencies are retained and missing conversions are flagged |
| Updating values | Entry and automation depend on your file | Manual entry, scheduled tracking, smart import on Windows and optional Live services |
| Local use | A workbook can remain on your computer | Wealth remains in a local file with no mandatory account |
| Protection and backups | You organise workbook protection and copies | Optional encryption and desktop version backups, supplemented by your own copies |
| Model flexibility | Extensive freedom over formulas and presentation | A dedicated framework with built-in calculations and views |
Local use alone is therefore not a reason to leave Excel. My Wealth's benefit is having a wealth model and its tracking features available immediately.
2. Prepare a gradual transfer of your data
You do not need to transfer every sheet on your first attempt. Start with an account or investment wrapper whose contents you know well.
| In your current file | What to prepare for My Wealth |
|---|---|
| Account or investment name | Institution, holding account and corresponding wealth item |
| Balance or valuation | Amount, currency and reference date |
| Security position | Asset identity, quantity and value or price according to your source |
| Loan | Liability and loan details to check separately |
| Individual or joint ownership | Relevant owner and ownership allocation |
- Identify the items you still own and leave outdated positions out of your transfer example.
- Create the owners and holding accounts you need in My Wealth.
- Enter the items in this first holding account and check their values.
- Compare its total and associated debts with your spreadsheet at the same date.
- Extend tracking to other accounts once you are satisfied with this first transfer.
A workbook's sheets, formulas, charts and histories are not automatically converted into My Wealth data. Keep the original file for checks and for any uses you want to continue managing there.
3. Use a screenshot or export to prepare updates
On Windows, smart import can analyse a screenshot of the table or a CSV export using a compatible local AI model. It proposes matches, values and, depending on the source, new items to complete or deletions to review.
In this demonstration, the review proposes changing the cash balance from 2,000 to 2,100 USD, while the two security positions remain ignored. The useful result is a specific change to check rather than a blind transfer of the entire file.
Manual entry remains available. For an illustrated operation, see updating from a screenshot; for other sources, see smart import.
4. Check whether the change benefits you
My Wealth may suit you if you want built-in analyses and history, several asset classes and goals linked to the same data. If your priority is a fully customised spreadsheet, keeping Excel may remain the right choice.
Follow Getting started with My Wealth to create your document. Still unsure? Compare the views using the demonstration wealth file, whose changes remain temporary.