Pfinance

Question: Personal money management software?

(Posted by: Adam on 2010-02-24 14:07:01)

I have a duplex and a small at home business. What would be a good software to manage both those and my personal finances? Quicken 2008 allowed you to connect to your bank, but I found it a bit complicated to use. I'm looking for something simpler, and specifically for Canadians.

Posted by: STEVEN F on 2010-02-24, 14:14:01

Microsoft Money is the other most popular personal finance software. The banks the software is configured to connect to my be different in some versions, but the actual software is the same in any country. Money works the same regardless of location.

Posted by: Peter B on 2010-02-24, 14:22:54

We're in a similar boat - property and a home business to allow for a decent cash flow. Quicken works fine. It's more intended for personal finances, but it works well with cash flow businesses. The trick is to ensure that your categories are adequate for your purposes, and to record your income and expenditures very regularly - daily if you can. Putting off the entries for more than a couple of weeks increases the time you spend on book keeping significantly, while doing it day to day only takes a few minutes every day. Most of the other book keeping and accounting software (like MYOB, among others) is a real pain in the proverbial. You're right though, Quicken does not quite fit with Canadian (or other country) needs - it's still too much geared to what works best in the U.K. and its VAT, not sales tax and GST