Moneydance for Mac

Moneydance for Mac

Quick Specs

  • Version:
    2006
  • Total Downloads:
    13
  • Date Added:
    November 30, 2005
  • File Size:
    Not available
  • Downloads Last Week:
    1
  • Operating Systems:
    Mac OS X 10.0/10.1/10.2/10.3/10.3.9/10.4 PPC

Publisher's Description

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User Reviews
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3 stars

"Not for users with complex needs"

March 29, 2008  |  By doctor-t

 |  Version: Moneydance 2008

Summary

This review was originally posted on VersionTracker.com.
Reviewer background: I have used Quicken for 19 years on a complex mix of accounts including stock and fund portfolios, loans, and mortgages.

Moneydance has two major plusses: 1. It can communicate with many banks, brokerages, and credit card companies and 2. It isn't Quicken. These factors are why I am evaluating Moneydance. Quicken has shortchanged Macintosh users for years, and the situation worsened in recent years despite having the CEO of Intuit on Apple's Board of Directors. So, here is my assessment of Moneydance after numerous hours of use.

Data Import: Moneydance did very well with simple accounts. However, on more complex accounts there were many different types of failures. On one brokerage account, Moneydance failed to import over two years of data. On other brokerage accounts, the first few entries were missing. The most annoying errors involved transfers between accounts. For example, my pay is direct deposited into my checking account, but only after some of my pay goes into a retirement account. This pay deposit would be handled in Quicken by assigning multiple categories (salary, FICA, Medicare, retirement, etc.) with the retirement category being a transfer. Moneydance captured each direct deposit but added an additional separate entry for the transfer resulting in a double deduction. This separate entry was unreconciled (easy to find because of the missing check mark), but could not be deleted! There is no good way to fix this problem. Putting a zero dollar amount in the extra transaction also put a zero dollar amount in the linked retirement account. Zeroing the retirement transfer in the original entry requires another entry to correct the balance. This appears to be the best solution, but it is very time consuming.

(An aside on data import: Not long ago, due to a Quicken problem, I had to export all accounts, create a new account, and import everything back. It worked perfectly. Therefore, I am confident that the problems I had with Moneydance import were due to Moneydance and not to a corrupt data file.)

Documentation: I am one of those unusual persons who actually reads manuals. That is especially true for important and complex programs like ones used to manage all of my money and assets. Moneydance has no printed manual or PDF manual. It has a mediocre HTML-based guide on its web site. The first page contains links to a few dozen topics. Most of the topic pages are text only. A few topic pages contain screen captures. The main support for Moneydance is within its user forum. That may be acceptable for free, open source software or for inexpensive shareware, but it is unacceptable for a commercial product.

Interface/Ease-of-Use: Even after filtering my accounts, I find Moneydance's home window too busy. The Investment Accounts is the worst with its display of balances and individual share totals on the right side. I dislike not being able to remove, reposition, or truncate some of the window items. I would prefer a single screen of selected data, not a scrolling window containing data I don't need to see.

Another quirk is the Edit menu's lack of context sensitivity. For example, when working in a bank account, if I select an entire transaction and choose cut or copy, nothing happens. Unusable menu items should be grayed-out and unselectable. I also find it strange that the Edit menu does not contain delete, but that both delete and forward delete keys can be used to delete an entry. Some account actions, such as print register or print check can only be triggered from the pop-up menus at the top of the window. There are no print commands in the File menu. These interface quirks are typical of applications written by non-Macintosh oriented programmers.

Entering transactions is straightforward. Date fields have pop-up calendars. Transaction type, description, category, and tag fields have pop-up menus with choices from all previous entries. Right-clicking anywhere on a selected transaction displays a contextual menu with useful choices (most of which are not available any other way, another violation of Apple interface recommendations). Setting up securities is straightforward but bothersome. Moneydance offers no assistance at finding the ID, official name, ticker symbol, etc. You will need to find a web site that offers this information.

I did not assess the reminders feature.

Graphs and Reports: Moneydance offers a good selection of graphs and reports. The graphs are resizable, and the fonts and font sizes can be changed. However, little else is customizable. You cannot change axis scales, number or date formats, line or point colors, point shape, etc. The graphs cannot be exported in any format. Graphs can be saved in an undisclosed format (no .abc extensions is added). Investigation showed that the file actually is a PNG file, so you cannot edit individual components of the saved graph. Reports are even more restrictive: you cannot adjust anything except window size and column widths. Reports can be exported by clicking the Save button, a completely non-intuitive approach. Also, you have to fill in a file path name field before clicking OK, otherwise you get a gibberish-containing error message: "Error saving report: java.io.FileNotFoundException: (No such file or directory)." This looks like a holdover from Windows version 2. The Moneydance programmers again used their own interface instead of tapping into Apple's interface elements.

Moneydance allows export of the entire root account but not individual accounts. All you can choose is the date range for export. This is a major nuisance if you need to share account data with another application.

Summary: Moneydance, despite being around for ten years, has many rough edges. Poor data import makes it difficult to switch to Moneydance from Quicken or other competitors. The non-Macintosh interface adds to the learning curve, as does the lack of a good manual. For me, the only advantage of Moneydance is that it connects to almost every financial institution I use (whereas Quicken connects to none). At this time, the disadvantages of Moneydance outweigh that advantage.

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4 stars

"Best Money Manager for Mac"

March 04, 2008  |  By RAlfieri

 |  Version: Moneydance 2008b602

Summary

This review was originally posted on VersionTracker.com.
Like so many others, Iâ??ve tried all of the personal finance applications for the Mac. Moneydance 2008 won me over. Iâ??m finally rid of that nightmare Quicken Mac. Moneydance is fast, easy and does a much better job of matching and not duplicating imported transactions.

The interface in 2008 is better than 2007 and improving daily. Like with all applications, there are some quirks, but the developer is working diligently to incorporate user feedback.

Being a Java application, it also runs on all the major OS platforms! Now thatâ??s something no other vendor can say.

Moneydance rocks!

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5 stars

"WOW! What a great upgrade!"

January 19, 2007  |  By 8wheels

 |  Version: Moneydance 2007

Summary

This review was originally posted on VersionTracker.com.
So many things are addressed with this upgrade. I still can't believe it's Java.
I haven't been so excited about an upgrade in a long time.

Hat's off!

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4 stars

"r4 design bugs fixed in r5"

October 31, 2006  |  By Fred E--2008

 |  Version: Moneydance 2006r5

Summary

This review was originally posted on VersionTracker.com.
After some testing of the new release (r5), I am happy to report that MD has apparently fixed the two flaws of which I complained earlier - inability to set a reconciliation date other than the present, and bleed-over from credit card statments into the checkbook register. Those remedies, in addition to the lovely spotlight-like instant batch search, and the right-clickable display of the back of an entry to show what is in the entry's category over a long period of time, now make Moneydance one of two really useful personal finance apps. The other, of course, is Quicken 6. I will still use Q6 as a parallel check for my own mistakes in entering transactions, and it is still slicker than MD in some respects. Category splits in Q6 are still easier to manage, although MD's separate window-and-listing for classes is nicer. For entering checks in batches Q6 works a bit more easily, keeping the most recently entered date in new entry boxes, as well as the most recently used check number+1, rather than MD's habit of using the largest-ever check number+1. Q6 still lets one specify an ending reconciliation date, limiting the number of transactions showing, which makes it easier to find checks that haven't been submitted to the bank yet. MD doesn't show any reconciliation date at all now, which is slightly awkward, but it does allow one to resize columns in the reconciliation window, which Quicken can't do.
Both MD and Q6 could use some improvements, so my personal ratings for each, though not perfect and probably never will be, are roughly equal.

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2 stars

"Nice features, but buggy and poor customer support"

July 18, 2006  |  By MacLance

 |  Version: Moneydance 2006r4

Summary

This review was originally posted on VersionTracker.com.
I tried a number of financial management programs, and Moneydance was the best for me. It has a good price, has good features, and the interface is quite clean.

There are, however, a number of bugs in the program, but the company's customer service discourages attempts to report them.

There doesn't seem to be any way to reach a real person any more - even by e-mail - which started this year.

Even worse, if you make a report or suggestion that the publisher likes, it gets posted on the 'net complete with your e-mail address, whether you want it to or not.

Ever since this happened to me, I've been flooded with finance-related spam into my primary e-mail account, which I've managed to keep spam-free for years.

I've attempted to contact the publisher about this, but since they no longer have (or hide) their contact information, all I've been able to do is used old e-mail addresses. I never received a reply. This has been extremely annoying, especially since the finance-related spam is growing geometrically.

So try the program out because there's some good stuff there. Just be aware that if you run into problems, you may have some unwelcome consequences from letting the publisher know about it.

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5 stars

"not ready for the big time, but good for users with..."

June 13, 2006  |  By amellowguy--2008

 |  Version: Moneydance 2006r4

Summary

...simple needs
This review was originally posted on VersionTracker.com.
How to rate Moneydance? This spunky little program has a lot of good (even excellent) qualities. And you have to admire the nerve it takes for a small product like this to take on the Quicken juggernaut. However, it is also limited in a number of important ways that, for me, are deal breakers. Don't get me wrong: for the features it provides, this is an EXCELLENT product. However, there are some missing features that are so fundamental that I don't think this program can credibly call itself a competitor of Quicken. I have seen a lot of glowing reviews on this site, and that probably stems in large part from a general disgust with Quicken, which some people find to be buggy. But someone needs to inject some reality into this discussion: the fact that Quicken for Mac has problems doesn't fix the problems with Moneydance or make them any less noticeable. With some added features, Moneydance could be very formidable (I will probably switch permanently once it has more important features), but it is just not there yet. Given the developer's strong track record of adding features and supporting the user community, I have no doubt that Moneydance will someday get there. And if your needs are simple, it may be the right choice for you now.

I wrote a two page, single spaced review, but then I decided no one would be interested in reading all that, so here is the reader's digest version: the user interface is nice (in some ways better than Quicken), the online and check printing functionality is impressive for such an inexpensive product, and if you are just reconciling checking and credit card accounts, this is clearly the program for you. However, the handling of investment accounts is still primitive. Moneydance does not track capital gains and losses! This is huge, people; how can so many people overlook this? Quicken does this with a click of the mouse. If you sell securities, this program is not going to help you at tax time, which is inexcusable. To make matters worse, when you sell shares of a mutual fund, Moneydance does not let you specify specific lots to be sold. That feature is only available for the sale of stock shares. Quicken makes lot specification a snap. Again, that is inexcusable. You simply can't track mutual fund investments at the necessary level of detail with Moneydance.

For simple financial situations, this program is highly recommended. If you plan to track investments, I would stay away until more horsepower is added.

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4 stars

"2006r3 Moneydance on the top of the heap."

March 22, 2006  |  By chet5--2008

 |  Version: Moneydance 2006r3

Summary

This review was originally posted on VersionTracker.com.
With this release, 2006r3, MD is now the top money management program for the Macintosh. It fixes some serious problems with 2006r2 and now seems to be an excellent and stable program.
I have had occasion recently to try all the contenders, and this is my conclusion. My standard is the best program of all time, Managing Your Money (MYM), which last had a new version released in 1996. A couple of years ago, I tried to switch to Quicken 2004, and after weeks of fussing aronund, could not get my transferred data to reconcile. Besides, I know from the experience of my 80-some-year-old father that Quicken is not to be trusted with your data. Its operation is opaque: It hides away snippets of your data in unknown quarters, then at unexpected times, it changes other data based on what it thought you had wanted to do at some time. Bizarre, unpredictably and buggy. After my Quicken experience, I switched back to MYM for some time, then after a long trial decided to switch to Moneydance.

I have used Moneydance successfully for about a year, then for some reason decided to upgrade to 2006r2, which unfortunately had some serious bugs that made it unusable for me. So I decided to try various other programs. I tried pretty much everything I could find on Version Tracker, including iCash, iBank, Budget, Checkbook, My Checkbook, etc. The main area of comparison was Splits. I don't see how anyone can claim to offer even a simple checkbook balancing program if it cannot do splits. It is a common thing to do, as anyone how has ever gotten cash back from a point-of-sale transaction at the grocery store can tell you. Well, I tried them all, and Moneydance was the only one that can do splits correctly. (Well I guess Quicken can do them, but it is out of contention because of its basic unreliability.)

iBank is probably the best of these alternatives. It is a very attractive program with slick marketing that appeals to Mac users, with its emphasis on using special features of Tiger. It claims to offer Splits but the implementation is broken. I couldn't get the simplest transaction entered. Apparently you have to calculate the net amount of the main branch of the transaction first and enter this on the first line. Then you enter the other components of the transaction and the program automatically adds or subtracts amounts based on how it interprets the categories you've chosen. Usually it is wrong and once a wrong number pops up you can't change it. You have to delete the whole transaction and start over.

This whole experience soured me on the whiz-bang fancy interface presented by iBank. After all, what is the point of a multicolored pie chart on the main page if you can't figure out what it's trying to represent, how to change the imported amounts so they're in the right categories, or even enter a simple transaction? I paid the full $40 fee for the program and spent several hours trying, but in the end I couldn't use it. (Beware of programs that limit their free trial to 50 transactions. 50 _new_ transactions might be enough if the program allowed you to import several months of transactions from another program to see how it's _really_ going to work.)

After this, I was intrigued by the simplicity of iCash. It seems very transparent, apparently a thin wrapper around a database. Unfortunately, Splits are not provided. They claim you can Group transactions to form something like a split, but in practice I couldn't get it to work. Come on guys, a Split is a _single_ transaction, with money coming and going to and from different places, not a bunch of different transactions that happen to occur at the same time. It needs to be modelled as such. Think of a paycheck with taxable and nontaxable income coming in, and transfers to several tax expenses, deposits to different accounts, etc.

The other programs don't even pretend to offer Splits. I don't understand how they can claim to be checkbook-balancing programs if they don't have splits.

I award 4 stars to Moneydance instead of 5 even though it is a mature and capable program with a nice look and feel, because it is lacking in support and testing. Now that it is on the top of the heap, the developers need to take the responsibility to maintain it professionally. There should be better regression testing to make sure that bugs such as those that made it impossible for me to use 2006r2 don't go out the door. And support could be better. A year ago, as a new user, I got really quick and thorough response to my email queries. But this year, with 2006r2, I had an issue with it crashing on startup---I couldn't even get the program to run, and no one replied to email queries. I finally had to register for their forums and even then it took almost a week for anyone to respond to my post.

And the final peeve is that it would be really nice if the UI could be tweaked to give it a more Mac-like look and feel. A number of things about the interface are a bit strange from the Mac point of view but I've rambled enough here.

By the way the 2006r2 bugs that got in my way were related to AutoCompletion in the Category field. The crashing on startup seems to have been related to my hard drive that was slowly going bad.

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5 stars

"Moneydance - my two years and going strong"

March 14, 2006  |  By A Wedlake

 |  Version: Moneydance 2006r3

Summary

This review was originally posted on VersionTracker.com.
I've been using Moneydance since it was release 2004. I began using it, because of how commercial Quicken was becoming. Moneydance has a few shortfalls, that others have mentioned, but I've always been impressed by it's ease of use and stability. Ease of use to me doesn't mean limited functionality. It may not be a MYOB or Quickbooks competitor, but it's not a slacker either. For standard home use, it's a very solid, well constructed/thoughtout piece of software. I began using Quicken in 1997, so I have many years of data that I don't want to corrupt or loose. Moneydance has never flinched, which is far more than I can say for Quicken, which has to update the database format on every upgrade. I'll be realistic about the score, because I want to give the Moneydance team some room for improvement. Improve the check writing features, reporting and graphs are still looking aged, and improve the reconciling workflow, and it would be a solid 5. Great work.

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4 stars

"Works for me, too."

March 14, 2006  |  By Sarfaraz

 |  Version: Moneydance 2006r2

Summary

This review was originally posted on VersionTracker.com.
I've been using Moneydance for nearly two years and it has consistently improved over that time. It has always been useful and usable for my requirements. I don't need cheque printing so I can't comment about that (I can't remember the last time I wrote a cheque). I don't use online bill paying from within MD either but there are many users who use this very successfully. This feature is clearly very dependent on the bank's interface so any individual's mileage may vary. Apart from those two things, I use pretty much all the features of MD and I find it to be very easy to use, very well supported and a bargain at half the price of Quicken.

I manage 17 personal and business accounts in two currencies in two countries with a huge number of categories and some quite complex split multi-currency business transactions. It works well for all of that and, on top of that, I use it very successfully for both quarterly and annual accounts for both personal and business tax reporting.

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4 stars

"Works on Intel iMac"

January 24, 2006  |  By brittrossiter--2008

 |  Version: Moneydance 2006r2

Summary

This review was originally posted on VersionTracker.com.
I've used Moneydance regularly for nearly a year, and find it more than adequate for my needs. A bit of a change to get used to coming from Quicken, but it WORKS, and has, at the end of the day, a much more sensible interface.

Also works, so far, on my new Intel iMac, which arrived yesterday (w00t!). I'll admit I had been nervous about that, what with the warnings about Java incompatibilities with Rosetta and whatnot. But thus far I've managed to add new accounts, download transaction information, enter information into registers, manage reminders, and customize the home page, all without so much as a hiccup, and performance is much, much faster than on my older G4 iMac, which is to be expected, I guess. Only wrinkle was a permissions error on my Moneydance data file, which was easily cured by modifying the permissions in the data file's "get info" pane.

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Full Specifications

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What's new in version 2006
  • More polished interface
  • Streamlined online transaction download
  • Integrated online payment interface
  • Expanded investment account transaction types
  • Classes for improved transaction tracking
  • New inline transaction editor
  • Numerous user feature requests
General
Publisher The Infinite Kind
Publisher web site http://moneydance.com
Release Date November 30, 2005
Date Added November 30, 2005
Version 2006
Category
Category Business Software
Subcategory Accounting & Billing Software
Operating Systems
Operating Systems Mac OS X 10.1, Mac OS X 10.3.9, Mac OS X 10.2, Mac OS X 10.3, Mac OS X 10.4 PPC, Mac OS X 10.0, Macintosh
Additional Requirements
  • Mac OS X 10.4 PPC
  • Mac OS X 10.3.9
  • Mac OS X 10.4 Intel
  • Mac OS X 10.0
  • Mac OS X 10.1
  • Mac OS X 10.5 PPC
  • Mac OS X 10.2
  • Mac OS X 10.5 Intel
  • Mac OS X 10.3
  • Mac OS Classic
  • Download Information
    File Size Not Available
    File Name Not available
    Popularity
    Total Downloads 13
    Downloads Last Week 1
    Pricing
    License Model Purchase
    Limitations Not available
    Price $29.99

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