Microsoft 'Money' Have you used it ?

YorkshireBoy

westernpromise wrote:

In Money, you'd just enter cheques you've written as debits in 3 days' time.

I wouldn't recommend this method if you're 'sailing close to the wind' each month with your account management.

I taxed my car earlier this year, paying by cheque, at the Post Office just before they closed one Saturday lunchtime.

The cheque was debited to my account on Tuesday morning!!

CopperPlate_2

I use it - now on v.12 although I think there's now a new one. Have used it since before v.7 (think it was v.5 - prehistoric) and at least since before 1997 and wouldn't use another one. Flexible enough for what I need, but just wish they wouldn't keep getting rid of the good bits with each upgrade and replacing them what gimmicky things that I never use - WILL PLANNER for instance... (incidentally I do have a Will before anyone chastises me )

moomintroll_3

someone wrote:

I want to switch to a Mac but this is the only program I don't know of a good alternative to.

I switched to a Mac last year and Money was the only program I was worried about - I've ended up using Moneydance which has the advantage of being fully cross-platform (across Mac, Windows & Linux). Doesn't have all the functionality that MS Money had but it's close enough.

Another good one (supposedly) is iCash but I can't speak up for it as I haven't used it!

G

CopperPlate_2

Had a look at Moneydance and it seems good. Downloaded the test version so will have a play around. Will have a look at icash too. Thanks for that - have been on the lookout for a decent Mac cash program for ages

CP

peawack

Thanks to all for a great response ! I'll give it a try.

Turning_into_scrooge

MPH80 wrote:

Your problem there is that you don't get a reflection of what your balance should be.

For example - I use Money to tell me how much money I've got for spending. I do this by placing all bills for the coming month into the system just before I get paid. The result is that I see I will have £xx to spend in that month. As I spend it, I can see the ending balance dropping and I know I need to move money from savings if I see it getting near 0 - even if the actual balance in my account is £x hundred.

Now - if I voided the cheque - my ending balance would be artifically increased by the value of the cheque.

By pushing the date forward until it is presented (or even leaving it at a date very far into the future until then) I see a balance which is representative of how much I have to spend before I go below 0 and start incurring charges.

I really believe I would have paid quite a lot in charges had I not been using MS Money this way. I can't make a mistake providing I know all the bills and cheques are entered here.

M.

Sorry you've completely lost me. By voiding the cheque you are taking it out of the balance so it does not increase your balance but decreases it, You can also unreconcile the cheque if it has been included in the blance when doing a bank rec. I move all my debits into my account for up to 4 months at a time that way i know if i'm going to hit any hot spots.

CopperPlate_2

Turning_into_scrooge wrote:

Sorry you've completely lost me. By voiding the cheque you are taking it out of the balance so it does not increase your balance but decreases it, You can also unreconcile the cheque if it has been included in the blance when doing a bank rec. I move all my debits into my account for up to 4 months at a time that way i know if i'm going to hit any hot spots.

If you void the cheque (which is a debit of course and which would in turn reduce your balance) then you are effectively "deleting" it from the account but not actually removing it from the balance sheet. That, in turn, increases the amount you visibly have as a total balance for the account as in effect you have "deleted" the debit. You are quite right - I was completely lost too :rolleyes: :rotfl:

CopperPlate_2

Why not just use the cash flow function. What MPH80 has suggested works - although I've transferred all my DD/SO's to a separate account and fund it with a slightly more than required amount each month. Another separate current account is used for all other expenditure and that's what is the spending money. Seems to work, although funnily enough there is just never enough in the account to do until the end of the month...

freeloader

I have the latest version, having started off with a bundled version several years ago - I use it daily, and don't know what I'd do without it. Can be quite complicated to set up, and it has a few niggles, but excellent for budgeting, downloading statements, forecasting, shocking you into reality!

Turning_into_scrooge

CopperPlate wrote:

If you void the cheque (which is a debit of course and which would in turn reduce your balance) then you are effectively "deleting" it from the account but not actually removing it from the balance sheet. That, in turn, increases the amount you visibly have as a total balance for the account as in effect you have "deleted" the debit. You are quite right - I was completely lost too :rolleyes: :rotfl:

sorry you're talking about writen cheques (debits) i was talking about cheques paid into the account which are credits, crossed wires If you voided the debit cheque then yes it would give a false amount of what you have left to spend. Bet the OP is twice as confused now lol:rotfl: