Garbage.
I tried to use iBiz 2 (starting when it was still called iWork), and experienced nothing but frustration with its endless stream of bugs and problems that were either replaced with new ones or never resolved. Eventually iBiz 3 appeared, and sure enough, many of the problems I had reported with iBiz 2 were STILL not fixed. I paid nearly $40 CAD for this junk; I thought it was overpriced, but needed something like this for my business, and at first glance it seemed nicer than the alternatives. But soon I discovered it had serious problems, such as miscalculations and data loss. One would be "fixed" and another one would turn up. No one could trust its numbers enough to actually use it for tracking time and billing clients (in other words, it's completely useless).
What a waste of time and money. I find it hilarious that the price has actually gone UP as the quality of the software remains consistently poor.
Billings is vastly superior, and even Studiometry (which I don't particularly like) is at least reliable and does what it's supposed to do.
This developer has proven himself incompetent and incapable of creating a quality, reliable application. iBank is even worse; you know you're in the wrong business when you can't even write software that does math properly, despite the fact that a computer doing all the actual computation.
Do yourself a BIG favor and steer clear of IGG's terrible software.