![]() Select this option to create a new data file with the default set of accounts and categories. The first time Moneydance is launched, there’s a simple splash screen that invites you to select one of three options: I haven’t created a spreadsheet of all these features in comparison to iBank, but a scan of iBank features related to import, accounts, transactions, and analysis suggests that both programs are on par with each other. Moneydance also has a plugin architecture so that features (extensions) can be added by others. (Not that iBank’s binary data file is easy to read by other means.) On the other hand, iBank is better at some other things which I’ll list below. iBank simply uses the password to prevent the app from launching and the data file loading. The password protection is a pass phrase to single (fast) or triple (more secure) DES encryption of the data file. In some small ways, Moneydance does a few things better than iBank. Notable are check printing, import and export capabilities, the triple DES encryption of the datafile, the localization to Spanish, German, French, Korean, Portuguese, Italian, Greek, and Norwegian plus the cross platform capability of the app. Here’s the developer’s listing that compares Moneydance to Quicken Essentials.įor a more descriptive list of features, see the developer’s website. It’s done because QE has so much mind share, thanks to the Quicken name, and newbies might fall into the mistaken belief that it’s the best - overlooking the serious competition out there. This is done not because there is widespread belief that QE is the best or even a standard. ![]() That has both advantages and disadvantages, as we’ll see.Īs I did with the review of iBank, the first thing to do is look at Moneydance Features, especially with respect to Quicken Essentials. In the case of Moneydance, the developer has also chosen to use Java (in Xcode) to make the app cross-platform: Macintosh, Windows, Linux and even traditional UNIX such as FreeBSD and Solaris. Single minded developers can sit down, assess the competition, and build what they believe is a superior app and win the favor of customers - without a lot of bureaucracy or corporate agenda. ![]() The reason programs like this exist is because developers have felt that Quicken Essentials (QE) has left a gaping hole in the market, big enough to drive an M1 tank through. Add to that a complete cross-platform capability and features that Quick Essentials lacks, and the result is a plain and simple, but complete money manager. ![]() Overall, Moneydance maybe isn't quite as good as Quicken for Mac but it does offer a very competitive alternative.The strength of Moneydance is its power and features combined with a simple user interface. There's also no support for attaching documents and files such as receipts and invoices which would be useful. In addition, the interface can feel a bit complicated and overwhelming at time and this isn't helped by the fact that Moneydance is based on Java which doesn't suit OS X very well. The handling of split transactions still hasn't been improved from the 2010 version. Its always useful to have your documents in one place although it depends on whether you scan and file your financial documents regularly. However, there is no way to upload receipts and other financial documents related to your transactions. There's handy reporting and graphing tools that should give you a little bit more perspective over where your money is going. Moneydance then helps you trace budgets, and reminds you of upcoming bills to keep you up-to-date. Even better, you can use Moneydance to automatically pay your bills for you too. You can retrieve credit card statements and bank statements from most major US banks that support OFX standards. ![]() Most importantly, Moneydance supports online banking which is what will convince many users to convert to it from Quicken for Mac. It's quite easy to get lost at first amongst all the options available so a good idea to use the Help file. When you've done so, you navigate Moneydance using the menu bar down the left hand side. When you start Moneydance, you're offered the chance to import data from Quicken Essentials for Mac or setup a new file or account in the currency of your choice. While Moneydance may not feel quite as intuitive as Quicken for Mac at first, it can do pretty much everything the latter can and was actually one of the first ever financial applications on the Mac so it's certainly not lacking in experience. ![]()
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