Moneydance
Moneydance 2014.3
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(5) 3.8

Personal finance manager.   Demo ($49.99)
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Moneydance is a full-featured personal financial management application that includes features such as online banking, online bill payment, investment management, budget tracking, scheduled transactions, check printing, detailed graphs, reports and much more. Moneydance's easy-to-use interface sets it apart from other financial software.

Online Banking.
Moneydance can automatically download transactions and send payments online from hundreds of financial institutions. Moneydance learns how to automatically categorize and clean up downloaded
What's New
Version 2014.3: Release notes were unavailable when this listing was updated.
Requirements
  • Intel
  • OS X 10.7 or later
  • Note: Older versions of Moneydance are available for PPC and earlier versions of OS X



MacUpdate - Moneydance







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Moneydance User Discussion (Write a Review)
ver. 2014.x:
(5)
Your rating: Now say why...
Overall:
(53)

sort: smiles | time
burypromote

+63
Bowlerboy_jmb commented on 17 Feb 2014
MoneyDance user guide errors …

… copied and pasted into a TextEdit document — originally with the intention of giving feedback only to the developer, but so soon evolving into such a comedy of errors that it made me realize that perhaps the only way to whack such people on the side of the head for their own good would be to let others know what they would they getting themselves into, if they supported this company.

page 3
To keep your data file stored in it’s current location

its

[Don’t your writers and copy editors know the difference between its and it’s? Look it up!]

page 3
or import data from Quicken essentials

Quicken Essentials

{Why must you be rude or snide to your competition, or are you just too lazy to do proper research?]

page 5
For an in depth description

in-depth (is more generally accepted)

page 5
To create, edit, or delete and account

an account

[This is getting way too distracting and irritating to me. Spend some money, and hire a competent proofreader to support a competent writer. The spelling and grammar of this technical writer is atrocious, and this is only page 5! You are embarrassing your entire company with such errors like this in your documentation. It makes me think: “Gosh, they can’t write worth a damn without making sloppy mistakes. Why should I trust this documentation? It’s not accurate. It probably won’t be thorough. Maybe they can’t add or program code either.”]

[Of course, you didn’t take my feedback previously about the unclear descriptions of your versions, so maybe there is an element of arrogance that will prevent any corrections from taking place in your manual, since, like defunct and obsolete IBMers, maybe your company does not accept feedback that was NIH - “not invented here.”]

page 6
Filter buttons across the top of the register let you display display all or a subset of transactions

[Display display! Really, this is all the free feedback you get. If you can’t realize how sloppy your documentation is, then there is no hope for you. When I worked as a copywriter at Atari many years ago, a writer’s work was reviewed by a copy editor, then a department manager, then a division head, and several artists and illustrators. All of them had to sign off before something was put in print. There are so many elementary-school-level errors in the first six pages of your user guide that I get the impression that an 8-year child of the company’s founder both wrote and edited her own user guide and daddy is too kind to correct her mistakes.]

You know what? You deserve to be embarrassed. I think I will let your potential customers see for themselves how sloppy your documentation is, so that they can decide for themselves if such a sloppy mentality infects the programming of your software, too. I am looking for a replacement for Intuit’s Quicken, but if you can’t write worth a damn, how good can your software be?
[Version 2014.3]

2 Replies

burypromote

+63
Bowlerboy_jmb replied on 17 Feb 2014
I didn't think things could get worse, but they can:


page 7
If your bank support direct connections they may also support online bill pay.

[And the hits keep rolling in. This 8-year child of a writer never disappoints.
… bank support (lack of agreement between subject and predicate; noun bank is singular, so verb must be also be singular, i.e. supports.
… “they” … why is a bank “they”? Oh, so sad. Let this poor child finish grammar school before putting her to work. Please!]
… if clauses need a comma to separate them from their corresponding sentence portion, i.e., if, then.
As in: If an incompetent writer is tasked with presenting the company’s documentation, then it is predictable that that company will be highly embarrassed by the result. If the head of the company writes the documentation, then that company has a real ego problem lurking at the top. Like that! If, then. Catching on yet?

page 7 again
most banks allow you to download your transactions from the their website

[Maybe this writer has vision problems. Maybe this company fails to provide vision benefits for its employees, or its exploited child laborers. Maybe this writer st-st-st-stutters, or she just likes meaningless alliteration.]

page 7 yet again
If you’ve manually entered transactions Moneydance will suggest a merge between it and similar
imported transactions, if not Moneydance may suggest a similar transactions for categorization.

[The if clause lesson was obviously never mastered. Apparently this writer thinks that two if clause sentences can be run-on without commas separating the clauses, or even a semi-colon or a period to control the verbal diarrhea. Neither was the relationship between nouns and pronouns needing to be of the same singular/plural quality. “Transactions” (being plural) cannot be “it” (being plural). Beddy-bye, darling girl. Did you get your third grade homework done before you wrote the manual for my company?]
burypromote

+63
Bowlerboy_jmb replied on 19 Feb 2014
Let us now up the stakes from mere grammar-checking to an examination of one chapter of the same manual, and how such an examination of the process of reconciling your accounts can provide great insights into the nature of a product and the company making it:


page 58 … Chapter 10 … Reconciling Your Accounts
Overall assessment = Adequate but mediocre and incomplete
Examples of mediocrity and incompleteness:
The Reconcile Account: Checking window features two fields:
Beginning Statement Balance:
End Statement Balance:

Immediately, if you know anything about language you wonder why the software designers can’t even be bothered to use a parallel structure in laying out their windows and say “Beginning” and “Ending” instead of “Beginning” and “End.” You feel it, even though you may not articulate it. The programmers’ short-sighted and limited language skills not only hamper the writer, but the fact that such a small glitch slipped through all the checkpoints and into production reveals that, within their little company, there is not a lot of mutual respect going on between the programmers and the marketing staff, which would include the writer. If people truly worked closely, which is absolutely necessary in any endeavor, the writer, or her manager, would at the very least have the clout to go back to the programmers and ask them to please understand that their use of language is not quite at the high standard it ought to be, and because any low standard will inevitably impact the impression the customers get about everything is a company, the software designers, if they are truly dedicated to producing a top quality produced, are obliged to make changes when told by someone presumably well-trained in a different discipline who ought to know better. Of course, if the writer is not well-qualified, then she does not know better, or if she is too timid, or so junior that no one ever talks to her, then she will be afraid to make waves for fear of losing her job, which gets us bad to poor internal cooperation, doesn’t it. It’s a feedback loop that any sound designer or programmer ought to recognize, and if their managers and executives cannot see this, god help all them in their dance to make money.

OK, not let’s get beyond how a very close reading of a software company’s window designs can be used to reveal how its interpersonal flaws can reveal a pervasive sense of mediocrity, even though less attentive readers would skip over such a tiny thing as “So what?” or “No Big Deal”?

Given what we now know about the writer, who, for whatever reason lacked either the perception to see the flaw or the guts to fight to fix it, she does not come off as any star either.

In discussing how to use this Reconciling Your Accounts window, the writer takes a backwards approach in typical passive voice style—both further signs of mediocrity.

For example, instead of using parallelism to simply say this:

“The Beginning Statement Balance is a field into which Moneydance enters a non-editable amount, based on the entries in your account. The End Statement Balance is the amount you enter from your banking statement. It is usually called the New Balance.”

The user guide says this: “You will be asked to enter an Ending Statement amount, usually the balance listed on your most recent statement bank statement. You will also be shown a non-editable Beginning Statement.”

Now I ask you: Which version is easier and clearer to understand? What’s the difference? What’s the problem?

In the first place, the question is: Why say that in passive voice? When you are teaching someone to do something, be active. Be upbeat. Why give the impression that the user is at the impact of the software. Give the user control!

Sure, you can eventually puzzle it out, but using the passive voice almost always injects an atmosphere of vagueness and a lack of specificity that tends to stops the brain and forces it to decode the meaning. It’s the kind of language used in government instructional manuals. Lawyers and politicians who want to talk out of both sides of their mouth at the same time often rely on passive voice so that, later on, that cannot be pinned down at having said anything clear or concrete at all.

Eschew the passive voice, teach the writers of the Elements of Style, a classic book on writers. This writer apparently skipped that course.

In the second place, putting the second field on the window first in the instructions reverses the order of comprehending what to do. People’s eyes move down the page, so why make them start the processing of learning how to use a window from the bottom up?

Besides all this, I question the accuracy of saying that, when you reconcile, you will rely “on your most recent bank statement.” That’s true only if you faithfully reconcile your accounts each and every time, which, while a good habit is broken almost as often as it is kept. Of course, maybe the software designers have programmed MoneyDance in such a way that ALL of the data in ALL of the banking statements have to be included in the reconciliation, in which case maybe such a sweeping statement might be true. I am exploring MoneyDance as a replacement for Quicken, and Quicken’s reconciliation process structured the process in such a way that you reconciled your statement according to the strict statement dates provided by the Bank. Moneydance, on first go, appears to ignore that approach: dates do not seem to matter that much, unless you download transactions from your bank. Moneydance says that “The ‘As of” date” field in your reconciliation window is only enabled if you download transactions for that account online.” Why it should make a difference that you get to reconcile your checking accounts according to dates ONLY if you download data but not if you use printed statements, which clearly spell out the Beginning and Ending (New) balances in association with your statement date period is beyond my limited imagination! But it is their ballpark, so if elect to use this software, I guess you have to play by their rules.

At least Moneydance’s reconciliation procedure, if not as clearly or as elegantly executed as Quicken’s, is easier to comprehend and use than its competitor, SEE Finance. You can read my review of that software to learn why I rejected it as a replacement for Quicken.

Finally, at the end of the chapter on reconciliation, the writer gets lazy by not completing the illustration of the process. The manual talks about concepts of “Current Balance” and “Target Balance” and “Difference,” but, in the manual, you get lost because you never actually see what it is talking about. Why not? Because the writer failed to include the necessary screen shot to show you what she is talking about!

Really, now, how much time, energy, and pixels does it cost to include an illustration of that screen in order to complete the reconciliation process? After all, without that window, you never get to “Done.” So, too, by not showing me the end step, the writer did not get the job done right!

So, for those in the crowd who think that I am merely an unofficial member of the Grammar Police, if your mind is open just a half a crack more than a Republican bigot in Florida who thinks it’s a good idea to carry a gun and shoot young men who are inappropriately dressed in their lily white neighborhood or playing loud music in their car while waiting for the light to change, you might actually have learned how the failure to get your words spelled right, or your commas in the right place, is usually a sign of a more systemic problem that reveals cracks in the very flaws of the document where those otherwise trivial errors live. Further, when that document reflects the face of the company of people developing it in tandem, you can also extrapolate from their public documents not only what they think about themselves, but how they interact with each other.

I told Moneydance staff that I really want to like their software as a replacement for Quicken. But, instead of thanks, they are threatening to delete anything I send them, because I am not doing so with an acceptable level of softness and deference. They have not grokked, or accepted, that I am deliberately whacking them on the side of a head with less charm that I can employ when I believe people are open to listening, because I don’t know if one can penetrate their emotional armor with nice words and praise, which is what they seem desperate to get.

They are so defensive about what I say because I am not saying it a nice way, that I am not sure that they can actually accept the substance of the criticism to make the necessary changes to improve their product over time. Arrogance is not a good way to run a software company. We all saw how Intuit’s arrogance was its death knell and how it turned us off to their software. I’m whacking these people early so that they don’t turn into Intuit down the line.

If they don’t like my dance, then I will soon look elsewhere to manage my money. But, for now, I will continue to test out their software. I like most of what I see. I really do. But with money management software, things have to be perfect. You can’t get a little bit off in your calculations, or in your explanations of how to use the software to manage your money, and your life.
burypromote
-7

+88

Iliketrash reviewed on 30 Dec 2013
I downloaded MoneyDance and launched it. It immediately gobbled up 150 MB of RAM and for the last 20 minutes has been pinwheeling.
[Version 2014]

3 Replies

burypromote
+2

+19
Mikebore replied on 04 Jan 2014
If this was a fault of Moneydance your rating would be justified, and the forums would be full of it. Have you taken any troubleshooting steps or asked for help from Moneydance? Their support is very good.
burypromote
+2

+65
Neartheredrocks replied on 05 Jan 2014
150 MB memory use for such an application seems to be absolutely appropriate to me.

Mail, Safari and iTunes use always more than that (often more than 200 MB), and Firefox does it rarely with less than 400 MB.

I'm using Moneydance since several years and had never a crash or hang-up with it.
burypromote

+63
Bowlerboy_jmb replied on 17 Feb 2014
O-My-Gosh... you launched a software application and it actually used memory to operate. What a sin! Were you expecting it to use paper envelopes to track your expenses and reconcile your checkbook?

What fascinates me is how you were able to review all of its features and benefits to conclude that it only merits half-a-star when it sounds like you never bothered to do anything to clean up your computer configuration to get it to run?

Are you psychic?

Do you work for Intuit?

Are you a software developer in competition with this better product, so you have to trash it without actually using it?

No wonder you like trash. Your moniker matches the quality of your "review."
burypromote

dotorious reviewed on 25 Nov 2013
I switched to Moneydance as a long-overdue replacement for Quicken, and have not regretted it since. I don't pay bills or automatic statement downloads in Moneydance, so I don't know how well those features work, but for manual entry and account management, it works well.
[Version 2012.5]


burypromote
+1

+218

Jimw reviewed on 27 Apr 2013
As a former Quicken 2007 (Q7) user, over a year ago I felt it was time to switch to a different finance program give the lack of support or upgrades from Intuit. After much research I chose Moneydance, primarily because it was the only program at the time, and as far as I know, still is, that handled investment accounts, and did bill pay from within the program. It also had reasonable reviews. So after using it for over a year here are my conclusions:

Moneydance is much more stable than Q7. I have yet to have a database go corrupt, even with a year carryover, as Q7 used to do. However backup can be an issue since all the data file are buried deep within the user library and can be difficult to locate.

Bank and credit accounts are handled well as far as download and reconcile. However due to the fact that it regards a normal balance on a card as a negative balance, which it actually is in bookkeeping terms, it can be somewhat confusing at first. Reconcile has had an issue with '0' or credit balances on credit cards but this has largerly been fixed. When any transaction is downloaded from an institution it has to be 'confirmed' which either merges with an existing transaction or creates a new one. One glaring issue is that the 'Conform' command is can be several places on the screen depending on the type of account. This makes for a confusing interface. Other than that transaction downloads work well for checks, credit cards, and investments.

Bill pay is another matter. While it works well it is very confusing at first. A simple bill pay transaction works well but the transaction can't be entered into the check register. It has to be entered into a special bill pay window and then appears in the register. The feature of adding a new payee from the bill entry screen is their but it does not work. The payee has to be set up in a different window first. This is a bug. For split accounts it is not at all friendly since bill pay does not handle split categories. It either has to be entered as a single category and then edited in the check register into a split account or entered into bill pay as a single category, have a calendar reminder setup to do the split transaction, then merge the two when the 'check' is cleared. Split transactions and reminders are a bit weak in the product. They take a while to figure out and get used to. The program seems to have no reasonable limit on accounts and categories.

The program handles investments very well, other than transfers between accounts. In my case several entries occur for a single transfer where only one should be. This is easily taken care of by deleting the unnecessary transactions. However it could be caused by the way the bank posts the transfer.

Converting from another program can be an issue. I did not even try conversion given my finances were quite complicated although I have read that others have been successful and that MD does a better job than some others.

MD is a double entry system with no holes. Anything coming in or going out has to have a category or account. This can be very frustrating at times when trying to adjust a balance to be correct when no history of the account exists. I solved this problem by making a dummy account and using it as a category for balancing. Then I adjust its initial balance to reflect '0' in the current account balance. Seems complicated but it works.

Reconciling also is reasonably easy to do and works well. The only issue as mentioned above is that you can't add a balance adjustment to an account without a category.

Support for the program, when available is very good. The only issue is that sometimes your support requests get lost and you may have to submit them several times.

Finally there is the subject of reports. This is perhaps MD's weakest point. While it has many reports that are customizable they often are not what you really want or need. Many are just variations of the same style. The reports are almost useless for a comprehensive Schedule A or B tax report. This is one area where Quicken gets the nod.

I should not that MD 2012 was a very minor bug update and so far no announcement has been made for 2013. Updates are few and far between.

TIP: There are a number of free extensions available for MD, such as entering stock quotes. I recommend getting those you might want to use right after installing the program.
[Version 2012.5]


burypromote

-8

Bohdanz reviewed on 15 Apr 2013
I'm happy to say Moneydance is working without any problems and my data is intact.
[Version 2012.5]


burypromote
-5

-8

Bohdanz reviewed on 08 Apr 2013
Wow - I can't believe this new update of Moneydance destroyed my data file. It said it would convert and archive. I can't open anything at all.

This is HORRIBLE. I wish I'd never hit the button to update to the latest version.
[Version 2012.5]

3 Replies

burypromote
+2
The Infinite Kind (developer) replied on 12 Apr 2013
Hi Bohdanz, I promise that there is no way that Moneydance destroyed your data file. When you update from a previous version, Moneydance makes a copy of your file (into an archive folder) exactly as it was when you updated. The new version also has a copy of the file that it works on and is designed so that it is never possible to destroy your data. If you send us a message at support@moneydance.com (and cc me at sreilly@infinitekind.com) we'll get you sorted out.

Thanks,
Sean
burypromote

-8
Bohdanz replied on 13 Apr 2013
I appreciate Sean's support email. I downloaded Moneydance again and my data file both opened and works without problem.
Thanks Sean.
burypromote
The Infinite Kind (developer) replied on 14 Apr 2013
Hi Bohdanz, if Moneydance is still working well for you, would you mind updating your rating from one star? :)

Cheers,
Sean
burypromote
+1

-23

Full Score reviewed on 16 Dec 2012
With 2012.2 the ability to use MD and Dropbox Mac-to-Mac has been restored, albeit with a workaround. See http://help.infinitekind.com/kb/moneydance-2012/how-to-move-your-data-file-to-a-different-location-in-moneydance-2012

The other improvements to the app are relatively minor; the last two years' development have not really added a lot of additional value.

I still cannot download financial info from either of my Barclaycard Visa cards (US Airways and Virgin) directly into MD. I have to use individually imported QIF files - very annoying - but probably the fault of the Juniper folks who do the programming for Barclaycard.
[Version 2012.2]


burypromote
+2

+218

Jimw reviewed on 15 Dec 2012
This is still the only finance program, other than Quicken that will download and do bill pay from within the program. The latest version seems to have stabilized some issues and fixed others. I have used it for a year and unlike Quicken have not found my database to be corrupted. As an overall finance product is is great. Its weak points are some of its reports and extensions. I suspect these will improve over time. Tech support is there for you, a while a bit slow to respond at times, once you have their attention, followup is excellent. Securities are handled at least as well as Quicken, perhaps better. Overall it is a really viable Quicken replacement.
[Version 2012.2]


burypromote

+21
Popguru commented on 15 Dec 2012
MoneyDance 2012.2 is out. It's not immediately clear from their download page, but if you download now, this is the version you'll get. Here's a blog post about the release:

http://infinitekind.com/blog/archives/605/
[Version 2012.1]


burypromote
+2

+19

Mikebore reviewed on 28 Sep 2012
Be very careful about updating to 2012.1. This is not a straightforward update but a radical change to how the data is stored, and at the moment it looks as though syncing between computers with Dropbox, and possibly multiple account files are not supported. This is a constructive warning from a long term enthusiast of Moneydance.
[Version 2012.1]

4 Replies

burypromote

+60
Qb replied on 28 Sep 2012
The What's New states "Built in Dropbox syncing with the iPhone, iPad and iPod touch app." While it does not mention Mac OS X I've kept my data file on DropBox for a long time. Do you still feel they took AWAY OS X DropBox support? Please keep us posted: on your review I'll hold off a little before upgrading. thanks
burypromote
+1

+19
Mikebore replied on 28 Sep 2012
Yes, I think (not 100% certain) that they have taken away OSX Dropbox support, hence syncing between computers. When I opened my Dropbox file in Moneydance 2012, it was removed from Dropbox to the archive folder in user library and the dat stored the data internally to the program. It warns you it will do this. I have restored everything to pre 2012 status from backups until I understand better. Plenty of questions but not answers in the Moneydance forum
burypromote
+1

+19
Mikebore replied on 28 Sep 2012
Moneydance staff have posted on the forum that they are working on a version which will support OSX Dropbox syncing, and also that multiple datafiles are supported by the current 2012.1 version. He advises waiting if you use OSX Dropbox syncing. Would have been nice if there was some warning.
burypromote

+3
Ckueny replied on 28 Sep 2012
We access our Moneydance 2011 data file from two different user accounts on the same computer. This functionality is apparently broken in this 2012 version. It took me an hour to purge myself of the problems and revert to my Moneydance 2011 setup. Multiple users should avoid this version.
burypromote
Greg-M had trouble on 02 Jan 2012
I'm trying to find a new money management application. Quicken Essentials is junk, and iBank won't import from Chase Bank or other banks, making it useless. Does Moneydance?
[Version 2011]


burypromote
Dana007 had trouble on 05 Jan 2010
Love your software, but we have recently developed a problem were the software is crashing and requires us to re-instll it. Any known conflicts with Office (usually Word and Excel are also open)? Is there a size limitation that might be causing this problem?
[Version 2010r2]

1 Reply

burypromote
+2
The Infinite Kind (developer) replied on 25 Jan 2010
You should definitely contact support@moneydance.com about this issue. There is no known conflict but we've seen cases in the past where a bad stick of RAM might cause seemingly random crashes when multiple large apps are running (including Moneydance, Office, etc).
burypromote

+2
Zoidberg had trouble on 12 Feb 2008
FWIW, since upgrading to Leopard (and specifically 10.5.2, which is where I'm starting with Leopard), I've encountered several kernel panics when using Moneydance. Have sent them an email about it, but thought I'd mention it here.
[Version 2007r5]



+1

Jon Breen rated on 09 Mar 2014

[Version 2014.3]



MrCmonster rated on 05 Jan 2014

[Version 2014.1]



+6

Sean-Reilly rated on 04 Jan 2014

[Version 2014.1]



nikkobaud rated on 04 Jan 2014

[Version 2014.1]



Jnlindsay rated on 12 May 2013

[Version 2012.5]



ThorstenBornemann1272 rated on 14 Apr 2013

[Version 2012.5]



+4

MacUpdate-Mark rated on 15 Mar 2013

[Version 2012.5]



+7

lapleader rated on 14 Feb 2013

[Version 2012.3]



Thecomputertech rated on 27 Jul 2012

[Version 2011]



Jerry Bigio rated on 28 Mar 2012

[Version 2011]


Downloads:55,308
Version Downloads:4,002
Type:Home Personal : Personal Finance
License:Demo
Date:22 Jan 2014
Platform:Intel 64 / Intel 32 / OS X
Price: $49.99
Overall (Version 2014.x):
Features:
Ease of Use:
Value:
Stability:
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Moneydance is a full-featured personal financial management application that includes features such as online banking, online bill payment, investment management, budget tracking, scheduled transactions, check printing, detailed graphs, reports and much more. Moneydance's easy-to-use interface sets it apart from other financial software.

Online Banking.
Moneydance can automatically download transactions and send payments online from hundreds of financial institutions. Moneydance learns how to automatically categorize and clean up downloaded transactions.

Account Graphing.
Use the graphing tool to generate visual reports of your income and expenses. Set the graph type, the date range, and any specific settings for the type of graph you desire. Pop-up balloons display more information about the data being graphed as you move the mouse pointer over different regions of the screen. Graphs can also be printed or exported to image image files.

Reminders and Scheduled Transactions.
Transactions and notes can be easily scheduled to remind you when they are coming up or are past due.

Account Register.
This is used to enter, edit, and delete transactions in an account. It is visually similar to a paper checkbook register, except the calculation of balances and sorting of transactions is all done automatically. Entering transactions is easier with the payee auto-complete feature; this reduces the number of keystrokes necessary for entering many similar transactions.


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