Today, the personal finance app runs on Windows, Mac, and Linux, with a $49.99 price tag (after 100 free manual transactions). Moneydance offers much of the same functionality as Quicken, including income and expense management, online banking and bill pay, investment tracking, budgeting, and reports. It also supports multiple international currencies and cryptocurrencies. That said, Moneydance lags behind Quicken Deluxe (the Editors' Choice pick for paid personal finance services) due to a dated, sometimes clunky user interface and substandard mobile apps. BANKTIVITY REVIEW FOR FREEīy contrast, Mint (the Editors' Choice pick for free personal finance services) bundles its budgeting and credit-reporting features into top-notch web and mobile apps. For those reasons, we can’t recommend Moneydance as wholeheartedly as those services, but you may find it worthwhile for its many useful tools. Moneydance’s Summary (dashboard) is one of the best we’ve seen. Moneydance doesn’t offer much in the way of setup, but neither do its competitors. To get started, you connect your online financial accounts-checking and savings, credit card, investment, and loans. You can also specify the file that should open when you launch the app (Moneydance supports multiple files, which are sets of accounts belonging to different individuals), and see when you last logged in to all of them. If you have trouble understanding the site’s menu system and navigation structure, you can start or join a private or public discussion online and consult the software’s robust collection of how-to articles. Moneydance downloads account data from many major and minor financial institutions, though it didn’t support every one I tried. BANKTIVITY REVIEW PASSWORDįor most of these, you create the connections to your online banks by entering your username and password for each account. This involves following a simple set of steps. You create a new account, such as checking or credit cards, highlight it in the left vertical navigation bar, and select Set Up Online Banking from the Online menu. A wizard-like tool walks you through the process. (Opens in a new window) Read Our Personal Capital ReviewĪt the time of this writing, Moneydance was in the process of switching over from direct connections to financial institutions to connections via third-party providers. However, the new system hadn’t been implemented when I reviewed the software. As it stands at this writing, setting up online banking is similar to the process you employ to import Quicken or QuickBooks data from a bank. Moneydance walks you through the required steps, which involves going to the financial institution’s website and authorizing the connection, then returning to Moneydance to download the transactions. This process worked fine, but creating the connection wasn't as easy to do as it is on competing websites that already use third-party providers. On those sites, you simply enter your username and password. Account creation and transaction downloads are usually done automatically, with the authorization occurring behind the scenes, though you sometimes have to provide additional security information.Īs you’re creating accounts, you can include quite a bit of detail in the window that opens, including start date, initial balance, account number, and routing number (if applicable). There’s also a field for an unusual option: Default Category. Moneydance doesn't make categorization guesses like its competitors do. If you choose a default category, every transaction that comes in will have it designated as such. So, you must assign your categories to any transaction that doesn’t match the default. That said, the software learns as it goes, so similar transactions will be automatically categorized in the future. Moneydance also lets you connect to your bank’s online bill pay system and authorize payments from within the software itself. Quicken Deluxe does not offer bill pay as a standard part of its service.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |