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 22.214.171.1244 may include unspecified updates, enhancements, or bug fixes.