Scan & Fix 50 registry issues FREECNET Editors' review
iBank is a full-featured financial management app that can help you track bank and credit card accounts, keep an eye on your investment portfolio, generate a variety of reports, and help with budgeting and planning.
iBank's interface has a very Mac-like feel: a toolbar sits over two panes, one for sources on the left and one for a transaction register on the right. Unlike the previous version of iBank, transaction editing happens right in the register view, with drop-down tools for categories, splits, and memos, and you can perform calculations when entering amounts. The right pane is also where you look at charts and reports (which update dynamically as you change data, and which you can print easily), and you can also use a visual, "envelope-style" budgeting system here (which lets you set up envelope icons for different budget categories, allowing you to carry money forward or swap between envelopes). Templates make entering repeat transactions easy (as iBank remembers the criteria of past transactions), and "smart accounts" let you set up dynamic, user-defined categories similar to iTunes' smart playlists. iBank also includes a number of really handy extras, like camera integration (so you can snap a pic of a receipt and tie it to a record), good support for MobileMe and iBank's iOS app, and a flexible and robust system for importing data directly from financial institutions (along with support for OFX, QIF, and QFX files).
iBank still has some shortcomings (for example, there's still no online bill-pay), but otherwise this app hits the sweet spot between power and simplicity, at an affordable price. If you're looking for personal financial management software, iBank is one of the best in this category, and its 30-day, full-version trial is definitely worth checking out.
Publisher's Description
From IGG Software:
Fast, powerful and intuitive, iBank 4 is a personal finance management app designed to help individuals and small businesses track bank accounts, credit cards, loans and investments; analyze income and expenses; and plan for the future with budgeting and reports. iBank can import data from PC or Mac versions of Quicken, and download transactions from online accounts through Direct Connect or through its built-in browser. Full-featured yet simple to use, iBank can also monitor account balances, set budgets with iBank's envelope budgeting feature, print checks, attach files to transactions, generate and save detailed reports, work in multiple currencies, or export to TurboTax... iBank handles all this and more. Also available: iPhone or iPod sync via iBank Mobile, and your finances to go via iBank for iPad (sold separately at the App Store).
What's new in this version:
- Bugs fixed:
- Broken link in online manual
- Transaction templates background rows draw too opaque
- Requests implemented:
- Improve security of OFX logging
- Update about box copyright date
- All versions of iBank 4.7 and higher:
- import accounts and transactions from Quicken Essentials for Mac
- direct downloads of account data from Vanguard investments
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All versions:
3.0 starsout of 72 votes
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Current version:
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My rating:
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"3-hours of polite customer service totally wasted"
Version: iBank 4.6
Pros
Easy to install interface
On-line chat customer service was trying to be helpful, but alas...Cons
-did not read Quicken date format correctly, reasons unknown
- initially, had trouble with balances. this was corrected after running a script, and reloading the data file. But the dates were off.
-will not parse a single data file with multiple account information, so if you have several accounts -- checking, saving, IRA, etc., you need to download and import each one separately.Summary
It was because of the poor reviews that I availed myself of the 30-day free trial offer from the Ibank webs tie. Lucky for me I did. I followed the instructions, which were easy. I imported a Quicken for Windows file that contained multiple checking and savings account information in the recommended format. Two problems: (1) the dates were off (2) the balances in several of the accounts were doubled.
One thing I forgot to ask...How does CNET give this product as high a rating as it did? I am just curious to know what sort of testing CNET did, besides reading the package? This is very, very curious.
Customer service via chat had me download a script that ostensibly corrected problems with Quicken files. From the time I got on line until the time the scrubbed file was loaded into Ibank, more than an hour passed. The balances appeared to be correct but the dates were wayyyyy off. It appears that Quicken changed the format of its dating protocol around Y2K, to a "d/m'y" format that complicated things.
OK. So I then figured as it is close to the start of the year, I can download more than a year of transactional data from my bank, which allows multiple formats. My thinking was, I'd start from scratch, with no Quicken conversions at all.
But then customer support told me that Ibank does not have the ability to parse any file format where a single file would have multiple accounts -- say a checking account and a savings account, or money market account. Instead, I would have to download each account file separately. I am one of those who is loath to let Quicken (or Ibank or the electric company) go directly into my bank account for data. Call me a hopeless romantic, or old fashioned) This was after more than 3 hours on line, downloading files, checking all sorts of logs, importing and parsing and installing new files, etc.
In all, a very, very frustrating morning. So be aware. Be very aware.
Updated on Feb 19, 2013 -
"Rigid and unintuitive. Convoluted ways of sorting data"
Version: iBank 4.6
Pros
Import function, once figured out, CAN be handy. Interface is simple.
Cons
Can only export in 2 formats. Cannot export data to display in excel for example. Convoluted reporting function that is hard to use. Help function is simplistic and reflects the limited (rigid) and un-intuitive design of the program. Reviewers have hammered Quicken products and I don't understand why they do not similarly hammer this program, which is FAR more inadequate than the Quicken programs that I have used. At least with Quicken there is a lot that can be figured out with simple trial and error. With this program I have to correspond with the company to get complicated solutions to simple issues or to learn that... sorry, I know that it is simple but our program will not do it.
Summary
I do not understand why reviewers turn such a blind eye to obvious shortcomings of this program. They seem to have discovered a few things that the program does pretty well, praise those things and forget to try to use the program for routine data display, analysis, exporting and reporting functions. It is NOT an easy to use and flexible program. If I wanted a program that I have to study, study, study in order to use it I would have bought something like quickbooks.
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"Waste of time"
Version: iBank 4.6
Pros
can't think of any. maybe it's cheap(?)
Cons
a) did not import quicken data correctly
b) terrible reporting output
c) very cumbersome when entering data
d) get error messages with no solution as to what is incorrect
i used quicken for years and had to find an alternative when my mac died and i bought a new computer this year. iBank was recommended but it is TERRIBLE compared to the limited quicken application i was using.
as a CPA i cannot believe someone has not written a quality program for individuals to use. given the amount of financial sophistication so many people now need to have available, i think iBank is a major step backwards in helping those who need such a tool.
as someone mentioned earlier, whole program reeks of late 90's technology when no one knew any better. -
"Terrible UI, hard to use"
Version: iBank 4.5.2
Pros
No install problems
Cons
Look and feels like it was designed in 1998
Entering data awkward
Terrible importing funtion
Reports also look like they were designed in 1998Summary
No sir, I just don't like it. Unfortunately there are few options for Mac financial management. Quicken Essentials is probably the best bet but the Mac Quicken is a joke compared to the Windows version. Why does Intuit punish Mac users?
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"Still not as rich in features as Quicken for Mac 2006"
Version: iBank 4.5.1
Pros
A good application for simple checking account tracking.
Cons
1) Poor downloads from most financial companies especially Vanguard
2) No way to seperate ordinary income from tax-free income
3) Very poor reporting screens.Summary
I would still be with Quicken if Intuit hadn't screwed up the program and failed to update to the newest version of Mac OS. If I had not gone through so much pain in transferring my Quicken account to iBank (almost 20 hours to check and recheck 25 years of transactions), I would consider Quicken for Windows using BootCamp.
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"Does not reconcile transactions w/o a lot of work"
Version: iBank 4.5.1
Pros
Imported transactions from Quicken without issue. Nice layout and easy features.
Cons
To reconcile your transactions (even ones that were already reconciled in another program) you have to download all your bank statements and manually enter the beginning and ending balances and the statement dates. Even after all of that it doesn't recognize all the transactions and you have to go reconcile them manually. Given I had three years of transactions that was just not a task I wanted to undertake.
Summary
Decent price. Nice layout. If they make transaction reconciliation easier (like in Quicken) I might consider it in the future. It is too much trouble to have to go back years of statements and enter each manually to reconcile transactions that are already reconciled in another program.
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"The worst software on my Mac"
Version: iBank 4.3.3
Pros
Unfortunately, iBank appears to be the best financial software available for the Mac
Cons
Too many to list. I might be better off creating my own spreadsheet. Check out the reviews on Amazon for a more complete list.
Summary
I am a financial professional who has used personal finance software for nearly 30 years, beginning with Andrew Tobias' Managing Your Money (MYM) for DOS back in the 1980's. I am no fan of Microsoft (hence my move to a Mac about a year ago), but Microsoft Money was the best financial software I ever had (naturally, in their infinite stupidity, Microsoft recently discontinued the program).
When I switched to the Mac, I spent months testing out various financial software programs. I expected to find all kinds of great stuff. I was shocked and dismayed at the lack of anything decent. iBank 4 is, unbelievably, the best program I could find for the Mac. It make me ill to say that. For anyone who has used software like Microsoft Money, iBank is so unfriendly and hard to use it's almost not worth having.
For example, with Microsoft Money, I could download all my banking transactions and 99% of them would be recognized correctly, categorized properly and be ready for reconciliation. When I reconciled, the software almost always reconciled perfectly by itself (I'm still amazed at how it did that). With iBank, my downloads require significant "massaging" to get the transactions correctly categorized and the reconcile process always requires MAJOR manual adjustment. I essentially have to manually reconcile each account.
I could go on and on about iBank's shortcomings, but other reviewers on Amazon have already covered most of them. I can only conclude that anyone who gave this software a good rating has a) never used anything else, or b) has only used other Mac software applications, which I would agree are even worse than iBank. I am desperate for someone to come out with a real financial software package for the Mac. -
"Ibank4 making a former Quicken user very happy"
Version: iBank 4.3.3
Pros
excellent cash flow, scheduled transactions, account set up and reporting. Developer support is litterally best in class. When using chat or email there is a quick response and, beyond all imagine, the developer has proven that they will take your requests, make a committment, follow through on committment and actually contact you to tell you so. Best example of customer service in a decade.
Cons
future upgrade to all budget created on Mac to sync to actual spend on mobile app would be nice
Summary
Software works as advertised and is a full replacment for standard financial software features.
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"Great product for this Canadian"
Version: iBank 4.3.2
Pros
Unlike some Canadians , I had no trouble using this with CIBC bank. Seamlessly syncs chequing and credit card accounts.
Full feature replacement for my long used Quicken 2001
Other Canadians please note. If you have any problems contact the excellent vendor support. Rather than complain online in sites like this or Apple, ask for help.
I had no trouble moving Quicken transactions into Ibank 4Cons
Takes a bit of learning but online help was quick, professional, and unlike some sites, helpful.
Summary
A great Quicken replacement (Mine was Quicken 2001)
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"Very disappointed in this product."
Version: iBank 4.3.2
Pros
It looked promising and easy to use.
Cons
Would not transfer transactions from Quicken Essentials 2010 . I found this product virtually useless. I think they should tell you it will not export from this version of Quicken Essentials BEFORE you download. One of their big advertisements is being able to import transactions from Quicken. Very misleading!
Summary
Looked like a good product. They need yo fix the incompatibility issues with Quicken Essentials 2010
