Accounting Software: Reviews

Between Intuit's Quicken and Microsoft's Money Plus, the experts agree: Quicken sets the standard. Reviews say Quicken 2009's enhancements include a new guide function that provides help with the section of Quicken you're… using, as well as a new navigation bar and a setup tab that simplifies tasks. The Deluxe version is best for those who want detailed tracking of checking, savings, bill payment, budgeting and 401(k) or IRA accounts. Quicken Premier (*est. $75) is a better choice for those who have more complex investments or own property. Ads in the transaction register earn scowls from users, while a few find the new software a little buggy, and phone support is still costly. Overall, however, Quicken is consistently rated as the best personal finance software. Quicken 2009 runs on Windows only. Quicken Mac 2007 (*est. $60) is still the current version for Mac users, but a new version, Quicken Financial Life for Mac, is scheduled for a summer 2009 release.

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In the majority of reviews, experts say Money Plus (formerly Money 2008) falls just short of Quicken. Reviewers say Money Plus has made serious strides to keep pace with Quicken. If you are already using Money, few… experts would recommend a switch to Quicken. Experts say that Money Plus is a strong program, and it has a unique tool for easily retrieving customized snapshots of your finances on your desktop, along with alerts. Money Plus runs on Windows only. Like Quicken, the software includes ads. Money Plus is available in Deluxe and Premium versions; the most basic version, Money Essentials, is free.

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If you need help with sticking to a budget and paying down debt, users and experts alike give You Need a Budget Pro (YNAB) high ratings, saying it provides features and teaches methods that will help many people design… and stick to a budget, reduce debts and accumulate savings. Users find the software easy to set up and use. Customer support is reported to be excellent. Although the initial cost is higher than other options, once you buy the software, you get free updates for life. YNAB is compatible with Windows only. Unlike Money Plus and Quicken, You Need A Budget Pro doesn't track investments.

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Reviewers say that this free software can handle complex accounting tasks. The downside is that it's not as easy to learn to use as Money Plus or Quicken, lacking the guided interface of competing software. GnuCash works… on multiple operating systems including Windows, Mac and Linux, and supports multiple currencies and languages. Users can set up a wide variety of account types, download bank statements and import data from Quicken or Money Plus. GnuCash offers features that make it suitable for small businesses as well as individuals and includes both tutorials and a help feature.

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