Microsoft Money

Microsoft Money

Powerful tool oriented to personal and home accounting managment
3.4  (67 votes)
3.7
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Microsoft Money is a product that belongs to the Microsoft Money Suite family. It is a powerful and easy to use tool for the management of home accounting. It allows working offline and online, in the latter mode the program updates balances and movements from your bank accounts. Also, you can pay bills and invoices automatically through online payment services, and register it in your accounts. It runs only on Windows Vista and Windows XP Service Pack 2.

The program has a modern and friendly interface based on a website aesthetic, which result in a practical guide to use. However, is a comprehensive program with a variety of menus and utilities that can disorient a new user. That’s why we now describe how it works and the main tools to use.

In addition to the homepage, with news, payment notices, account statements and shortcuts to the most visited items, the program has 4 tabs for each one of the major movements of the home accounting:

Banking: this is the section from which you can load the accounts you want to include in your accounting and enable them so that their movements are updated online. You can enter bank accounts and investment accounts. From this tab you can see the movements, organized by various criteria and filters, as well as modify their data offline and make adjustments if the balance is not correct. You can also import from your local disk accounts reports in format Or, OFX and QIF.

Bills: this tab has listing and timetable modes, in both ways you can make electronic payments from your accounts, charge regular payments (for example, monthly) and establish alerts for payment, and pay invoices that you do not pay automatically. You can assign categories to your payments to later control costs and see if they are in accordance with the established budget, and also view details of payments already made.

Reports: From here you can see the reports of movements of the current month and request reports organized, for example, by categories of movements. You can also ask for reports comparisons between the estimated budget and actual movements. You can export your reports in Txt or txf (Tax Exchange Format) to use them in a tax program.

Budget: one of the most useful tools of this program is the possibility of establishing reference budgets for estimated monthly movements, for diverse accounts and various categories of expenditure. In doing so, you can go daily monitoring the level of real income and expenditure in relation to those estimated in the budget.

In addition, you’ll have available security utilities to protect your records against external incursions (password) or against damage to equipment (backup and repair to Money File).

Lionel Mira
Editor rating:

Review summary

Pros

  • It allows banking updates and online automatic payments.
  • Web style screens to ease its usage.
  • It imports and exports bank movements’ files, and exports files for tax programs.
  • It performs automatic backups

Cons

  • It doesn’t convert Quiken files or earlier versions of Money.
  • The online update of bank movements is free only for the first year.
  • Not always automatically detects Internet connection.
  • High RAM and disk space requirements.
  • Trial version available only in english
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