I have been using AceMoney for keeping my home accounts and my business accounts for the past few months. I’m going to write about my limited experiences with this software.
I did think about trying more ambitious software to do this, but I shyed away from MSN Money and Quickbooks. I’ve tried a bunch of other stuff, too, but the Accounting side didn’t appeal to me so much. My personal life and my business aren’t so complicated that AceMoney would pose problems. My business accounts are handled formally by the accountant, but I keep a track of things, most importantly, cash flow, and cash positions using this software.
I originally bought the license ages ago for AceMoney, it appealed to me because of its simplicity and flexibility. So I tried it. Since I don’t have a good accounting background, I was initially confused by it, but then I began to see how it was similar to what I had been doing with Excel anyway.
It is easy to set up numerous accounts, types of accounts and transactions. It is able to import and export data easily, a big plus in my book, should I ever decide to migrate to something more formal. I like the export in QIF format.
It also can handle stock transactions, credit cards and so on. It can handle a bunch of stuff that I throw at it, including Forex transactions.
Is it suitable for you? I can’t tell you. Is it useful for you? More than likely, as it can help you transition from Excel or paper systems to a more formal system.