CNET Editors' review
With its depth, plethora of options, and convenient report styles, Moneydance for Mac stands out as a professional financial software. It covers everything you could want from a financial application -- multiple account support, multiple currencies, printing, filtering, and more -- all placed in a beautiful, well-designed interface. To enjoy all its features, however, you will have to buy the premium version.
Following a straightforward installation, Moneydance for Mac gives you the option to import previous databases or start from scratch. Entry creation, which in the trial version is limited to 100 entries, is easy, though a bit overwhelming at first. The app comes prepopulated with the most popular currencies, types of accounts, and expenses, but you can choose which types of prepopulated entries to show as well as create custom ones. In terms of performance, you will be impressed with Moneydance's speed and relatively low demand for system resources considering its data processing features: it consumes only around 250MB of RAM. The program's only major downside is the lack of decent mobile support. While an iOS app is available, it is nowhere near as polished and powerful as the Mac version.
If you need to track your expenses on your Mac, look no further than Moneydance for Mac. It's a full-fledged personal finance manager with a slick interface, and while it does come with a price tag, its power and flexibility definitely make up for it. That said, don't expect to use this app on your smartphone or tablet.
Editors' note: This is a review of the trial version of Moneydance for Mac 2014.
Publisher's Description
From The Infinite Kind:
Moneydance is an easy-to-use personal finance manager. Whether you want to organize your finances, manage your budget, track your portfolio, or just automatically balance your checkbook, Moneydance is the solution for you. Moneydance's simple interface makes tracking your finances a snap, and advanced features include online banking and bill payment, portfolio tracking, graphing and reporting, and transaction reminders.
What's new in this version:
Here's a whirlwind tour of just some of the improvements this significant update delivers:
Sub-categories Now Auto-complete. For example, instead of typing Au:Fu for Automotive:Fuel, you can just start typing Fuel.
New Categories From Within Account Registers. Simply start typing, and if the app doesn't recognise it as an existing account, category, or sub-category you'll be given the option to create a new category with that name.
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All versions:
3.3 starsout of 25 votes
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Current version:
1.5 starsout of 2 votes
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My rating:
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Results 1-2 of 2
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"The 2014 Update is Awful"
Version: Moneydance 2014.2 (build 943)
Pros
The major problem in the 2012 version with mortgage calculations has been fixed. Other than that, there is little improvement that I can think of.
Cons
This version is a huge memory hog. My MacBook isn't the newest, but whenever I am running Moneydance, the whole OS slows down to a crawl. As soon as I quit Moneydance, things move noticeably faster. Overall, this is NOT an improvement. I'm now looking for a replacement. I would NOT recommend this software to anyone.
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"Surprisingly basic - a real disappointment"
Version: Moneydance 2014.2 (build 943)
Pros
Unexpected flexibility setting up a budget. For example, it was easy to set up items that are seasonal or occur at very specific times of the year. Reconciling accounts was much easier than SEE's process. I was able to accurately download activity from my bank, credit card, and investment companies. EXCEPT FOR INVESTMENT ACCOUNTS, it is easy to use the "Batch" feature to re-categorize transactions or move transactions that you accidentally downloaded to the wrong account. Unfortunately, transactions for my largest most active investment account transferred incorrectly during the migration and I had no way to move them to the correct account.
Cons
1) My transfer from PC-based Quicken to Mac-based Moneydance was nothing short of a nightmare. I spent DAYS tracking down errors. Investment accounts were especially problematic, as Moneydance doesn't handle transfers with the ease that Quicken does. I have yet to figure out how to download historical prices correctly.
2) There is no ability to examine changes in net worth over time, nor can you go back and look at net worth at a particular point in time. You are pretty much limited to examining account balances as of the current date.
3) When reporting split transactions, cannot view descriptions of each line item. I don't want to go back to the original transaction to see the breakdown.
4) Employer matches 401k contribution with company stock. In Quicken, I used the "add shares" feature to account for these transactions. MoneyDance does not have this functionality.Summary
I have no confidence that the tax basis information that was so carefully monitored and recorded in Quicken is correct in Moneydance.
If your needs are limited to simply tracking banking and credit card activity, Moneydance is a viable option to Quicken. And it does a decent job of recording transactions in investment and liability accounts. But if you actually want to analyze changes in account balances and net worth or examine investment performance over time, you should be prepared to fire up Excel.
Results 1-2 of 2
