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.

Kenneth

reposted from my other blog!

prognostications of journalists + tax brakes?

Does anyone think that it’s a good idea to follow the prognostications of journalists and their interpretations of what’s going on in the U.S. Economy? I sold my Dow stocks yesterday. I doubt we’ll see a new high point this year. This is a secular bear market (see a real economist: www.frontlinethoughts.com I think his grip on the market is excellent, and well argued.

Not the Rah-Rah-Rah stuff of most journalists such as this geezer. “This is tremendous news. It should kick the Dow to 13,000 during the next 12 months … if Bernanke doesn’t get too carried away … a 6% Fed funds rate WOULD throw the market into reverse. The more important barometer, the S&P index, now hovering at 1325, might make a new high during the next 12 months, too. (The S&P’s all-time high is 1527, reached in March, 2000.)”

Tax breaks might help in the short term to create a new high, but I doubt that they will make much difference in the longer term. You might call it the sign of a frothy top of the market. The ‘Big Players’ are getting tax breaks so they can push up the market, sell, pay less tax than the average Joe, and get out.

Then they will wait as smaller investors who read stuff like this report buy thinking the tax breaks are for THEM. Call me skeptical. Hah! The ‘Big Players’ bought because stocks were cheap, they have made their $$$. You don’t buy stocks just to get a tax break, do you? So I think we can call this the top of the market for a while!

Kenneth