When I think about the best home finance software, I think about Quicken and Microsoft Money. They are the market leaders and for good reason.
The problem is that, since 2004, they are targeted at the US market, only. Which means little if any support for their product’s users in the UK. What you need is a top home finance software solution that supports the UK tax system and can work with the UK banks to manage your accounts.
Personal Accountz
(Windows Vista / XP, Linux, Mac OS X Intel, Mac OS X)
Features:
- Able to keep track of your bank accounts, credit card accounts, borrowings, mortgage, savings, investments and all the usual incomings and outgoings.
- Supports automated direct debits and standing orders.
- Personal Accountz generates forecasts that will tell you whether your will be able to stay in the black.
- Personal Accountz has an accessible spreadsheet-style interface.
- None of the UK’s personal finance software solutions will synch automatically with your online banking and credit card accounts. To do this, you will need to download your online statements and integrate them with the software regularly. However, Personal Accountz is the best software for handling the process.
- Unlike Quicken and Microsoft Money’s UK versions, Personal Accountz has been regularly updated in recent years. You will be able to get the latest updates from their web site.
- Personal Accountz uses the double entry system to balance your books automatically.
- If you currently use Microsoft Money or Quicken and are thinking about making a change, you can easily import your accounts to Personal Accountz.
- Personal Accountz unlike most home finance programs runs on Mac and Linux.
Drawbacks:
- It can have a bit of a steep learning curve, but once you have the hang of it you will be fine.
- Takes a while to setup the system, when you start using it.
If you manage Personal Accountz well with all the information it needs, it will help you budget very well, warn you when you are overspending and let you know exactly how much you have available for various expenses.
If you compare it to Quicken and Microsoft Money then Accountz is quicker to use and more customizable to your needs.
All in all I would say Personal Accountz isn’t the perfect home finance software package, but it is the best one available in the UK.
