Categories aren’t new to personal finance software.  A category is just a bucket in which to track spending.  You could have categories for Food, Entertainment, Auto, Utilities, and more.  I won’t go into great detail here; you can read the Moneydance documentation for more information.  I’m going to assume you have a rudimentary understanding of what categories are and how they’re used.

The point of this article is to provide examples of useful categories and subcategories, and some tricks on reporting on them.  This is by no means a definitive guide on the subject; rather it’s more of a set of examples to illustrate how I’ve come to use them.

Categories are easy to create.  Click on Tools -> Categories from the main menu.

You’ll be presented with a list of existing categories.  Moneydance also displays the type (Income or Expense), the balance, and the grand total.

One thing to keep in mind is that categories are really just accounts in category’s clothing.  Moneydance presents them as logically different, but functionally they’re the same.  But I don’t want to get off-topic here; it’s not important for this purposes of this article.  It just explains why there are balances in your categories.

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Quicken 2007 & Lion

Posted: 07/09/2011 by Brian in Finance
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Intuit recently announced that Quicken 2007 for Mac won’t run on the new Mac OS X 10.7 “Lion”.  The reason for this is that Apple is discontinuing support for their “Rosetta” technology, a technology that allows old Power PC code to run on newer Intel Macs.  Intuit is “working with Apple” on this to see if they can’t get Apple to bend a little, possibly allowing Intuit to distribute Rosetta libraries with Qucken 2007.

Instead of providing a decent upgrade option for Mac users, Intuit has released “Quicken Essentials”.  Based on what I’ve seen and read Quicken Essentials doesn’t match either Quicken 2007 for Mac or Quicken for Window’s feature set.  It appears to be woefully inadequate; not a viable upgrade option.

And don’t forget that Intuit forces their users to upgrade by crippling the software they paid for.  Three years pass and they turn off all online features.

Intuit’s advice to Mac users is to “upgrade” to Quicken Essentials and just suck up the lack of functionality, or run the Windows version.

My suggestion?  Upgrade to a different software package instead.

Download Moneydance for free.  Import your Quicken data, then run it side-by-side with Quicken before buying.  It can do virtually everything Quicken can do, and the developer won’t cripple your software after three years.

*** An important note: Before upgrading to OSX 10.7 “Lion” you must export your Quicken 2007 data before you upgrade the OS; otherwise the data will be locked up in an application that will not launch.  Regardless of which financial application you switch to (Essentials, Moneydance, iBank, See Finance, etc.) you’ll need this data in QIF format in order to import it into your new application. ***

Why go backward when you upgrade?  Might as well invest in the future.

Greatest Rock Photo Ever

Posted: 05/29/2011 by Brian in Music
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This is arguably the greatest photo of a rock band ever taken.

Wow

Posted: 05/25/2011 by Brian in Personal
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Hail from my front yard; the biggest I’ve ever seen.

20110525-044500.jpg

Oh Yeah

Posted: 05/24/2011 by Brian in Miscellaneous
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Oops

Posted: 05/11/2011 by Brian in Personal
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Shit.  This is gonna cost me $129.  :(

Moneydance 2011

Posted: 05/09/2011 by Brian in Finance
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Back in February of 2010 I replaced Quicken for Windows with Moneydance on the Mac.  Since then I’ve written briefly about SEE Finance and more recently about iBank 4.

As a Moneydance user it seemed only fitting to also talk about the latest Moneydance release, Moneydance 2011.  As I write this, version 2011 is currently in release candidate state.  Since release candidates are feature-frozen I don’t feel I’m jumping the gun by writing now.  Moneydance 2011 has been officially released and can be downloaded from here.

I’m going to assume that readers are already familiar with Moneydance 2010.  If not, you might want read the original article I wrote, or visit the developer’s website.  Having said that, I thought I’d mention some of what I consider to be the more salient improvements Moneydance 2011 brings to the table.

First off, the general look and feel of the software is the same; the interface has undergone only cosmetic changes.  The application is still written in Java and is still available for all three major OS platforms.  Moneydance still isn’t the prettiest software, but its strengths have been and continue to be functional in nature.

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Recently I was contacted by IGG Software about a post I wrote back in early 2010 detailing my search to replace Quicken with a Mac equivalent.  Doug Bowman (formerly of Google and currently at Twitter) commented about my article on his Twitter feed.  I guess that generated a little buzz for a couple days.  In my original article I evaluated GnuCash, Moneywell, Moneydance, and iBank, eventually settling on Moneydance.  In that original comparison I used iBank 3, but the performance after importing my ten years of existing Quicken data was so poor that I couldn’t actually test the features.

When IGG contacted me, they informed me that they’d released version 4 of the software since then and that the performance had been improved drastically.  They asked if I’d take a look at their latest version.  I love personal finance software and I was interested in seeing the improvements, so I happily agreed.

The goal in my original article was to find a Mac-native replacement for Quicken.  As I mentioned I did that with Moneydance over a year ago.  Since that problem has already been solved I decided that this article should focus on two things:

  1. Answer the question of whether or not iBank is now capable of handling large amounts of data
  2. Finally review iBank to see if the important features are there

 

The short answer to question #1 is a resounding yes.

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‘Tis the Season

Posted: 04/22/2011 by Brian in Freethought
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The Zodiac Killer?

Posted: 04/05/2011 by Brian in Personal
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This photo hangs in the White Castle on Kingshighway.  Maybe it’s just my imagination, but tell me that guy on the far left doesn’t look like a serial killer.  Seriously.