I have used MS Money 2005 ever since it came out, found it all right initially, but progressivley went hating it more and more. I've been looking for a replacement for the last 3 years, and didn't seem to find anything that met all my criteria. I was very happy to see MoneyDance meet them all at the end of 2012. After a short experimental period I bought the product, did double entry (Money and MoneyDance) in December, to make sure everything was reliable and correct, and rely fully on MD since January. I'll be using Money for my tax statements of 2012, and shall finally ditch it with a sigh of relief.
So, what are my criteria? First of all I wanted a budget system that not only tells you how good or bad you have done, but also enables you to drive your budget, make sure you have specific sums available at specific dates for specific goals, entering corrections for any unexpected event. YNAB is a clear winner on this point, but it lacks other features I absolutely need. When I discovered MoneyPie, I new I might use MoneyDance instead of YNAB.
Second, I need multiple currencies. I can't make out why YNAB doesn't have them. In today's global world it's an essential feature, and most accounting software has them. I love the way MD manages currencies, even updating them continuously and automatically from the Internet. And the choice you have of entering either the main currency, the foreign currency or both, letting MD draw the right conclusion is amazing!
Third, I needed synchronisation. Well, this is far from perfect. Getting mobile devices to synchronise with your laptop or desktop can be frustrating, but customer support displays astounding friendliness and patience assisting you with questions and answers until your system works. Thanks for this. In the past I used Cash Organizer by Inesoft, which does a perfect job of synchronizing between Windows mobile devices and Quicken and Money. But after ditching both Money and the Windows Phone, this was no longer an option.
Finally, I need multiple user functionality. I long had MoneyDance low on my list, because is used to store the files in private folders (under \Users<username>), which precluded any collaboration. When I discovered that version 2012.2 allowed you to store the data files anywhere you liked, I decided to switch to this software. I place the data files in a public folder, and all users of the computer can enter transactions in the same data file.
So, congratulations for producing the only money management software that complies to all of my four criteria!