CNET Editors' review
CommonCents from EnDevelopment is a personal financial tool based on the tried-and-true envelope budget system, which traditionally involves putting money for expenses aside in paper envelopes so that you're forced to live on whatever is left over. Such cash-oriented budgets enforce old-school financial discipline, but they have limitations, especially when it comes to record-keeping. CommonCents improves the envelope method with a comprehensive suite of tools for managing everything from cash and credit cards to banking, loans, and mortgages, not to mention complete transaction histories and real-time account and envelope balances.
CommonCents' main interface, My Vault, features a main display divided into four resizable panes. The program's main view and its general approach toward recording and displaying information is an interesting hybrid of spreadsheet and Windows app, with a tree view for navigation plus customizable tables that have the familiar feel and functions of a spreadsheet program, such as Excel. The program is divided into 11 Managers that configure and control not only the Vault but also Account, Envelope, Income, Budget, Backup, Reconciliation, and other features. Clicking each calls up a dialog with checkboxes and other options that simplify setting up your personal information: You just check or uncheck items as needed. There doesn't seem to be anything left out, from Dining to Insurance to Taxes, but you can assign any expense or item you need to. Indeed, we were particularly impressed with the way this program manages to combine the total flexibility of a spreadsheet tool with excellent assistance and ready-made solutions. It had us budgeting in no time flat, and it shows the real appeal of the envelope method.
Nearly everyone can benefit from a good budgeting tool. CommonCents' combination of comprehensive coverage, flexibility, and ease of use with the commonsense envelope method definitely sets it apart from the crowd and earns our recommendation.
Editors' note: This is a review of the full version of CommonCents 3.3.73.520. The trial version is limited to 60 days only.
Publisher's Description
From enDevelopment:
This newest version retains the easy-to-use layout of previous versions that gives users a complete financial picture on one screen, but adds enhanced functionality and better data reporting and management tools. CommonCents is based on the envelope budget system, which assigns income and expenses to specific budget categories. Traditional envelope budgeting works with cash divided into paper envelopes. While a cash-only budget is an effective way to control spending, it does have limitations. CommonCents software improves on the traditional paper envelope system with the ability to provide a written history of all income and expenditures with real-time account and envelope balances. It also gives users the ability to manage all financial accounts--checking, savings, investments, credit cards, mortgage or other loans, and even cash.
CommonCents is as flexible as a spreadsheet, but simple enough that most people can get started quickly. The software comes installed with a default list of budget envelopes and account types that can be edited as needed. The user-friendly main screen includes a familiar checkbook-style register to record income and expenses, a panel showing all financial accounts with current balances, and a list of envelopes with current balances. Envelope and account balances update automatically with each transaction recorded. Powerful, time-saving features of CommonCents include the ability to automatically distribute income to envelope categories using fixed amounts or percentages, speed data entry by importing and editing information from financial institutions, split transactions into two or more envelopes, transfer money from one envelope to another, reconcile accounts, and archive and backup data.
What's new in this version: Version 3.11.96.640 is a maintenance release that resolves minor defects.
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All versions:
4.3 starsout of 17 votes
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Current version:
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"easy to use envelope budget program"
Version: CommonCents 3.9.90.612
Pros
This budget program consolidates all of your accounts in one place to give you a full snapshot of your finances. Envelope budgeting is comprehensive and convenient with reminders helping to keep track of regular expenses. Fantastic!
Cons
All positive, no negative
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"Will not import .qif from iBank"
Version: CommonCents 3.8.88.604
Pros
60-day trial
Cons
Will not import my .qif file, ugly interface
Summary
Cannot get CommonCents to 'load' my .qif file exported by iBank. It gives me some message about it not containing bank statements or some crap. I have not had this issue with any other software but CommonCents.
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"Great program"
Version: CommonCents 3.8.88.604
Pros
Good budgeting platform
Cons
None found
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"Good concept"
Version: CommonCents 3.4.78.535
Pros
Easy to use
Cons
Reports are a HUGE disappointment; can't export to Excel to make up for poor reports; Can't search by tags or memos (so why have them?!)
Summary
Great for personal budgeting; if you will be using for tracking reimbursable expenses, don't use tags or memos as you can't search or run reports by those items...have to use sub-envelopes. Difficult to analyze your spending habits because of report limitations.
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"The 1 program I found that allows me to budget biweekly"
Version: CommonCents 3.8.88.604
Pros
*Budget each paycheck in advance with virtual envelopes
*Budget each monthly paycheck by month and budget each bi-weekly paycheck every other week (or however you receive your pay)Cons
Would like an option to sort in Memorized transaction manager by order of payment date of each month. Would like to see it automatically show cleared transactions, rather than having to enter C for each one.
Summary
We've tried numerous products in our search for what works best for our family. This program won because it was the only only one that allows us to budget each paycheck individually as we are scheduled to receive it. Since one check comes bi-weekly and another at the beginning of each month, we have each programs required us to break down our bi-weekly pay into 12 months (which isn't what we wanted to do), or they required we have a month's expenses in our checking account before we could budget what we earned each month.
There is a learning curve, but the pros far outweigh the cons. It is a good product and one which will help you plan and keep track of your spending, regardless of how much you earn. I am certain that we found more than the $35 we spent on the program in the first month of using it. -
"simple envelope based budget software"
Version: CommonCents 3.8.88.604
Pros
envelope based budget software
customizable envelopes and reports
capable of multiple vaults/ filesCons
I have not been able to find any.
Summary
I tried Quicken and Quickbooks, neither one is very easily adaptable for personal use. This program is designed for the personal user. The few times I have needed to contact customer service, I have received courteous service from people that really do want to help. In fact, I have even made suggestions for future upgrades and the response I received was very welcoming and happy to receive the suggestions. Thank you enDevelopment for creating an envelope based budgeting program that is affordable, easy to use, and does what it is supposed to do.
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"Envelope budgeting rocks!"
Version: CommonCents 3.8.88.604
Pros
This is the only software which seems to have all the features are need. Goal setting and tracking works specially good for me.
Cons
None that I have tracked
Summary
I would recommend this budgeting software to everyone. They have a free fully-functional trial version.
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"Good Program"
Version: CommonCents 3.8.88.604
Pros
Easy to add account info
Cons
Annoying trial reminder & registration page every time program opens
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"Great , two users on Home Network System can use it !!"
Version: CommonCents 3.8.88.604
Pros
Sets up just the way you want. We both use it at home and can share it on our home network, other software don't let you.
Cons
None yet. Still on its first 5 weeks.
Summary
Ease of use +, I am an accountant so it is easy for me. My wife is not but she likes it to.
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"Great product. Easy to use because it makes sense."
Version: CommonCents 3.5.81.544
Pros
The one thing I was looking for that no other product had was the simple approach of showing my where my money was (what physical accounts) and what it was designated for (envelopes or categories) and present that on one easy to read screen.
Cons
I have had some minor problems getting to run under Vista and then a problem with updates in Windows 7. Both problems were with my machine, not with CommonCents and CommonCents support did a great job working with me to get the problems resolved.
Summary
As I said above, the one thing I was looking for that no other product had was the simple approach of showing my where my money was (what physical accounts) and what it was designated for (envelopes or categories) and present that on one easy to read screen. I searched for a long time and tried several applications including YNAB and Quicken. Neither can compare to the features in CommonCents.
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