What software are you using to keep track of your personal finances? Is it the one that came with your computer? There may be a better solution for you that will allow you to export records to your personal accountant, integrate with the banking and credit card bill pay features and help you to keep track of your income, savings and other accounts. Here are some great options.
Quicken: This software is nearly synonymous with personal financing practices. It is available for both Windows and Mac platforms, as software resident on your computer and accessible on most mobile devices. It helps you to see all of your money, in one place. Quicken connects with major banking institutions and provides bank-level security to protect your financial data. Information is encrypted and securely transmitted. Track income, expenses, get custom reminders when bills are do, track costs, capital gains and provide reports to your personal accountant. There are several products to choose from, depending on your needs and they start at $30 and go to $100. Be careful to recognize that the lower level product does not allow for the transfer of existing financial data from earlier versions of the software.
Moneydance: This product is simple, easy to use and quite intuitive. Your financial summary is front and center at login to give you an up-to-date snapshot of your financial picture. It synchronizes online with major financial institutions, provides you the opportunity to set bill pay reminders and includes credit card payoff, debt payoff, and investment calculators. Customer support is available and reports are easy to understand. Prices start at $50.
RichorPoor: This is a fairly basic personal financial software program that is currently only available for the Windows platform. It offers over 30 reports and can help you to manage your finances, including budgeting, investments, credit cards, checking and savings accounts. It comes with 2 years of free software updates for less than $30.
iCash: For individuals that need personal financial software in a language other than English, this may be the right fit. It supports German, French, Spanish, Italian, Russian, Chinese and several other languages. Multiple currencies are also supported. With this program, you can have unlimited accounts, categories and contacts. Track income, expenses, credits, debts and bank transactions with features including auto-balance and reconciliation can help you save time. For around $50, you can create charts, reports and import and export financial data to your personal accountant for further reconciliation or at tax time.
QuickBooks: This software is available in the cloud and rather than an upfront fee, a subscription is charged per month. Prices start at $10 but can escalate quickly. The mobile application allows for some features but not all. It is fairly intuitive and provides income tracking, financial institution integration and more. The level of features is depends upon the monthly subscription selected.
AceMoney Lite: This is the free version available to both PC and Mac users. Full versions cost are available. Accountant setup is easy and it allows you to manage your bills, track budget, analyze spending and create reports.
FreshBooks – Free Edition: This product and the one mentioned above, are really for basic accounting to help you keep track of your financial health. With this free version, you cannot schedule automatic bank statement imports and other features. You can upgrade if you desire a better snapshot into your financial health.
Personal accounting software is available in all shapes, sizes and costs. If you are looking for a great way to streamline your bill paying, budgeting and cash flow each month, these programs can help. Make sure that the software you choose will export the financial data at the end of the year for your accountant. In fact, you may want to get your personal accountant’s input on your decision.
