General information

Philip Davies's Avatar

Philip Davies

11 Dec, 2021 06:12 PM

Hi I am looking for a new home accounting software package to replace the one I am using. The one I am using does not have the ability to automatically download transactions direct from the bank.

I only require a simple programme but the main features I would require are

1) The ability to automatically download transactions from multiple UK bank accounts
2) User defined expenses accounts with the ability to have sub accounts For example the main account may be Utilities with say Gas, Electric, Water and TV as sub accounts
3) the ability to split a transaction between two or more expense accounts
4) The ability to set monthly/annual budgets for each expense group and compare actual spend against budget
5) the ability to compare annual spends with previous years spend

Please advise if your software will do all of this

  1. 1 Posted by derekkent23 on 11 Dec, 2021 07:38 PM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi Philip

    To answer some of your questions.

    I am also in the UK and by going onto my banks/credit cards online account can download a transaction file preferably a QFX/OFX file and import it into Moneydance. Moneydance is working with a third party Plaid on accessing accounts directly via Open Banking in the UK. I am beta testing this feature and for my bank it works well. One button click and transactions are imported. Down side, its users a third party service, so costs. It’s a monthly subscription service $2.0 in the US not sure what it will be when released in the UK. If you don't like the idea of a subscription just download import a file from your bank.

    Moneydance should be able to handle your other needs.

    Try it out for yourself.

    The downloaded version of Moneydance is a full working version with the only limit being a maximum of 100 manually entered transactions, with no time limit. Imported files from other financial programs and your bank have no limit on imports, provided that you do not confirm them. If you decided to purchase you are sent a key by email that unlocks the 100-manual transaction limit. If after testing with this free trial version you purchase and change your mind see the 90 day money back guaranty at https://infinitekind.com/refunds
    For the future Moneydance never sunsets the version it releases. So, you don’t have to upgrade. If you won’t to upgrade the next version is free (say 2021 to 2022) and from then on you get a 50% discount. All upgrades within a version are free.

    Make sure you are running this build of Moneydance https://infinitekind.com/preview

    For information on how to use Moneydance see https://infinitekind.tenderapp.com/kb

    Hope this helps.

  2. 2 Posted by Philip Davies on 21 Dec, 2021 11:38 AM

    Philip Davies's Avatar

    Hi Derek,

     

    Thanks for taking the time to respond to me, your comments were helpful. I will
    probably give it a go and see how I get on with it.

     

    Regards

     

    Philip

     

    Sent from Mail [https://go.microsoft.com/fwlink/?LinkId=550986] for Windows

     

    From: derekkent23 [[email blocked]]
    Sent: 11 December 2021 19:38
    To: [email blocked] [[email blocked]]
    Subject: Re: General information [Switching to Moneydance #20032]

     

  3. 3 Posted by derekkent23 on 22 Dec, 2021 07:47 AM

    derekkent23's Avatar

    I am not support staff, just a user.
    Hi Philip

    Good Luck.
    Any questions just ask, someone will try and help.

    Have Fun, Stay Safe.

  4. System closed this discussion on 23 Mar, 2022 07:50 AM.

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