Quick Start

Get up and running with OpenLedger in under five minutes. This guide walks you through creating your first file, adding an account, and importing transactions.

Step 1: Create a New File

When you first launch OpenLedger, you will be prompted to create a new file or open an existing one. Click New File, choose a location on your computer, and give it a name. Your financial data is stored locally in this file -- it never leaves your device.

Step 2: Add an Account

Navigate to the Accounts section and click Add Account. Choose the account type (Checking, Savings, Credit Card, etc.) and enter the account name and opening balance. OpenLedger supports 28 different account types including investments, loans, and assets.

Step 3: Import Transactions

Go to the Banking section and click Import. OpenLedger supports QBO, OFX, QFX, CSV, and PDF bank statement files. Select your file, map the columns if needed, and import. Duplicate detection ensures you do not import the same transactions twice.

Step 4: Categorize with AI

Once transactions are imported, OpenLedger's AI categorization engine analyzes each one. The system uses a tiered approach: rules first, then machine learning (XGBoost), then a local LLM if available, and optionally a cloud AI provider. Review the suggestions and make corrections -- the AI learns from your feedback over time.

Next Steps

Set up budgets to track spending by category
Review your subscriptions -- OpenLedger automatically detects recurring charges from your imported transactions
Run reports to see spending summaries and Schedule C data
Configure bank reconciliation to verify your records match your bank statements