MoneyDance

A little over a year ago Microsoft announced the end of Microsoft Money…

In the beginning I used a program written by a friend of mine to manage my check book (he actually marketed it), it was basic, and worked reasonably well.

Then I switch to Quicken… which never worked reasonably or well… but did the job (sort of like hammering a nail with a screwdriver rather than a hammer).  Obviously from what I’ve said I never liked it and never wanted to contemplate going back — financial management is about function, not form (or in Quicken’s case, pretty pictures, graphics, and selling as much of your information to anyone who will pay anything for it they can).

One of my friends used MoneyDance, and I’d pointed him that way when he decided gnucash just wasn’t what he wanted… so at the end of last year when I decided to make a decision to move to a financial management (tracking) software that was a little more current I paid for MoneyDance… and honestly, I’ve regretted it ever since.

The program basically works, and works on OS-X, Linux, and Windows… but one of the whole reasons to use financial management software is to be able to download transactions from your financial institutions and them just basically automatically match up with what you’ve entered and be done with balancing your records with your statement in a matter of a very few minutes…

And there in is the problem.

If you just let MoneyDance import and process those imported transactions you will have the biggest mess you’ve every seen — and the more accounts you have and the more transfers between accounts you do — well, let’s just say “exponential” growth only give you an idea of how bad it gets.

But, of course, like most “commercial” pieces of software, MoneyDance recently released a new version (I’m never in a hurry to upgrade to anything — even if I’m having minor problems I like to wait and make sure there’s no major regressions).  I did, however, install the update this weekend.

All I have to say is: are you F^(#ing kidding me… how is is possible to make an almost completely broken “feature” worse???

Now the transaction matching not only seems to do a worse job, but it’s on the side now rather than the bottom, so it obscures most of the (wrong) transaction it wants to match to so you have no idea what the F^(# it’s about to screw up…

My personal feeling is that you’re better of using crayons in a drawing book to track your financial records than wasting your time or money on MoneyDance… this has to be one of the absolute worst products I’ve ever seen, and based on the “features” that actually work you can stick with Microsoft Money, a 20 year old version of Quicken, or use a free program like gnucash… or a spreadsheet, because at the end of the day all you’re going to get with MoneyDance that works well enough to trust is a simple ledger.

Needless to say at the end of the year, I won’t be using MoneyDance, and if I can figure out how to get this years financial data out of it I will delete it (of course, this years data has very little value since to really “fix” the issues I’d have to go back and manually re-key everything).

Do before you reach for your credit card; consider saving your money and trying something else.

Originally posted 2011-08-08 02:00:00.