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    • anotheruser
    • By anotheruser 8th Nov 17, 4:02 PM
    • 2,599Posts
    • 1,525Thanks
    Personal Accounting Software
    • #1
    • 8th Nov 17, 4:02 PM
    Personal Accounting Software 8th Nov 17 at 4:02 PM
    Can anyone recommend any personal accounting software?

    Looked at YNAB for 38 a year... might be worth a punt for the year to get some stats and see if it really does save us "$6000"!

    Looking for something that will connect to a few bank accounts and sort out outgoings into categories and such. I guess if it doesn't know what a payment is, it'll ask me to categorise it?
Page 1
    • Malchester
    • By Malchester 8th Nov 17, 4:45 PM
    • 100 Posts
    • 55 Thanks
    • #2
    • 8th Nov 17, 4:45 PM
    • #2
    • 8th Nov 17, 4:45 PM
    Used MSMoney for many years and had no problems. However it is no longer supported by Microsoft but you can download it free. It no longer links direct to bank accounts for download / reconciliation. It has scope for as many bank / savings accounts as you want as well as as many categories and subcategories
    • tempus_fugit
    • By tempus_fugit 8th Nov 17, 5:44 PM
    • 411 Posts
    • 376 Thanks
    • #3
    • 8th Nov 17, 5:44 PM
    • #3
    • 8th Nov 17, 5:44 PM
    I use MoneyDance for my financial records. It's very stable and easy to use. I think it can connect to banks, but not many banks in the UK support this yet. I use downloaded OFX and QIF files to get the data in.
    Retired at age 56 after having "light bulb moment" due to reading MSE and its forums. Have been converted to the "budget to zero" concept and use YNAB for all monthly budgeting and long term goals.
    • glider3560
    • By glider3560 8th Nov 17, 6:39 PM
    • 3,555 Posts
    • 2,252 Thanks
    • #4
    • 8th Nov 17, 6:39 PM
    • #4
    • 8th Nov 17, 6:39 PM
    Another vote for Microsoft Money. I'm still using the 2004 edition and it does absolutely everything I need (except downloading prices and transactions any more). You can create unlimited categories, flexible reports, graphs, etc.

    My Money file is now more than 35MB in size and I don't see any performance issues whatsoever. To put this size into perspective, Money recommend I back this up to a floppy disc. I would need 25 floppy discs to achieve this.

    • HappyFrog
    • By HappyFrog 8th Nov 17, 8:00 PM
    • 34 Posts
    • 24 Thanks
    • #5
    • 8th Nov 17, 8:00 PM
    • #5
    • 8th Nov 17, 8:00 PM
    I have been using YNAB for six months now and find it very good. I think I am pretty good at managing our personal finances but the YNAB approach makes you look at things in a different (and quite unique) way, and I believe has made a definite improvement to our financial situation. Check out the large number of videos on YouTube that explain the system. It won't do direct import from UK banks if that is what you're looking for, but it has some good reporting features - e.g. you can see at a glance what your 'net worth' is, and how it has changed over time. The new version is Internet based, so if you are still under the illusion that you have any privacy in this day and age that may be a concern for you. Also, it may be counter-intuitive, but the fact that you have paid for it, will be a greater incentive for you to actually use it (and it's not a great deal of money). Since we have been using it our 'net worth' has increased by 46.3% in 6 months - which is indeed more than $6,000.
    • enthusiasticsaver
    • By enthusiasticsaver 8th Nov 17, 8:18 PM
    • 6,392 Posts
    • 13,119 Thanks
    • #6
    • 8th Nov 17, 8:18 PM
    • #6
    • 8th Nov 17, 8:18 PM
    Clear checkbook or spending tracker are good for recording outgoings and income and basic reporting on categories. I use the free version of both but the paid versions have more features should you need them.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to
    • dunroving
    • By dunroving 1st Dec 17, 12:09 PM
    • 1,163 Posts
    • 812 Thanks
    • #7
    • 1st Dec 17, 12:09 PM
    • #7
    • 1st Dec 17, 12:09 PM
    I recently switched to Moneydance after using Quicken for the past 15 years. I always liked Quicken but after my 2002 version started misbehaving, and Quicken switched to an annual charge, I decided I needed to future-proof my computer-based personal finance tracking.

    I think Moneydance is about the closest in terms of replicating how Quicken works, and after 3 or 4 abortive attempts to import my Quicken records into Moneydance I eventually managed it very smoothly and did't need to do any manual corrections. My Quicken is a US copy as I used to live there, and I didn't realise that the underlying dates were US format (MM/DD/YYYY), which is what was causing my initial import issues. I am now finding it simple to use.

    Although Moneydance supposedly allows tracking of investments and use of multiple currencies, I don't use those functions. I'm a bit leery about ubiquitous connectivity and would rather keep track of that stuff independently. I also believe that Moneydance does not connect well to UK bank accounts, but again I have no desire to tell the software my bank login details, etc.

    Moneydance allows a free trial, unlimited time but limited to 100 new entries. However, you can import an unlimited amount of prior financial data so you really do get the chance to try the full functionality at your leisure before deciding whether to purchase the full licence.
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