Money matters: personal finance software gets down to business - includes related article on new financial software versions, a brief summary of findings and a glossary - Software Review - Evaluation

Home Office Computing,  Nov, 1994  by Wayne Kawamoto

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Kiplinger's Simply Money 2.0

WIN

Rating: ***1/2

Kiplinger's Simply Money is simply a winner. Besides offering an innovative graphical interface, Simply Money (formerly called Kiplinger's CA-Simply Money) comes prepared to talk business and boasts solid financial features to handle your checkbook and manage your investments at a price that can't be beat.

There are three interface options: income, account, and payee. Individual buttons represent income, accounts, and payees within these categories, and working with them involves simple drag and drop. For example, drag the accounts button onto the setup button to add a new account, the savings account button onto the graph button to create a graph, or the check icon onto a payee to write a check to that person.

The interface, however, can be challenging at times. Sometimes you don't know what to drag onto what and the screen can get cluttered with icons (although you can hide them).

Simply Money provides functions for performing cash and accrual accounting and limited payroll with preset categories. It also supports entries for accounts payable and receivable. The detailed documentation devotes a chapter to using the product for business finances and does a good job of explaining the basics.

Simply Money uses classifications to bring together unrelated categories and has subcategories to track items in more depth. Use classifications, for example, to list expenses for business trips--plane fares, meals, hotel, and so forth. Subcategories let you break down categories in more detail, such as detailing automobile expenses like oil changes, new tires, and car washes.

The investment module, although not as comprehensive as Managing Your Money's, can handle small to mediumsize portfolios. The scheduler is not graphical, but it lets you set dates for future transactions.

Throughout the scheduler, you can access helpful Kiplinger financial advice. Useful planners take you through the ins and outs of refinancing a mortgage, buying life insurance, and saving for college. You can calculate effective interest and estimate loan payments as well.

Simply Money is a strong program--great for small-business as well as personal use. The icon-based drag-and-drop interface is innovative, and the program provides all the solid financial basics you'll need. $40; 4 Home Productions, a division of Computer Associates, (516) 342-2000, (800) 773-5445.

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[CHART OMITTED]

Microsoft Money 3.0

WIN

Rating: **1/2

Geared toward personal finances, Microsoft Money's strength lies in its intuitive interface and comprehensive links to National Payment Clearinghouse online services, which perform banking and bill paying and obtain investment pricing updates. However, MS Money just isn't up to task for most small-business needs.

For business use, the MS Money manual includes a chapter explaining how to track payroll and accounts payable and receivable. These aren't elegant solutions, however. To track company payroll, for example, you have to split accounts and perform the calculations yourself--a time-consuming process.