Why We Chose Beancount
When building FIREla, we evaluated dozens of accounting formats. We chose Beancount. Here’s why.The Problem with Traditional Finance Apps
Most personal finance tools store your data in proprietary databases:- Opaque - You can’t see how your data is structured
- Locked - Export formats are limited or non-existent
- Fragile - One company decision can orphan years of data
Enter Plain Text Accounting
Plain text accounting stores your financial records in simple text files:- Human-readable - Anyone can understand it
- Version-controllable - Track every change with Git
- Portable - Works with any text editor
- Future-proof - Text files will always be readable
Why Beancount Specifically
We evaluated Ledger, HLedger, and Beancount. Beancount won because:| Feature | Beancount | Ledger | HLedger |
|---|---|---|---|
| Syntax clarity | ✅ Clean | Verbose | Clean |
| Python ecosystem | ✅ Native | Plugin | Plugin |
| Error messages | ✅ Helpful | Cryptic | Good |
| Community | Growing | Large | Medium |
| Validation | ✅ Strict | Loose | Medium |
How FIREla Uses Beancount
FIREla doesn’t replace Beancount—it enhances it:- Visual editing - GUI for transaction entry
- Automated imports - Bank sync, CSV parsing
- Smart categorization - AI-assisted transaction labeling
- Beautiful reports - Interactive charts and dashboards
.beancount files remain pure text, fully under your control.
You can always edit your Beancount files directly in any text editor. FIREla is a layer on top, not a lock-in.