Have you been recording your personal expenses manually? I highly recommend you to use personal accounting software , or often called personal financial software. By using the software, you can track your financial transactions, categorize the type of transaction, make a budget, and analyze your spending. Leave the manual record and make your life better.

You can choose free or commercial software. Commercial software is not so expensive, but perhaps you prefer free software with a specific reason. I will give some reviews on some free personal accounting software for you. I hope this review will help you to choose the software that suits your needs.

Ace Money (Lite Version)

This software is quite easy, you do not need to know accounting knowledge to use it. You just have to understand simple arithmetic function. The first requirement has been met.

This software support.

• multiple accounts such as checking account, savings account, credit cards, loans, etc. On the Lite edition, allow 2 accounts only. Unlimited account on the full edition at $ 30.
• Create and maintain budget.
• Support to 150 currencies.
• Know your spending habits and see where the money goes.
• Reminder for bills and tell you when the next bill should be paid.
• Investment portfolio manager and download data from Yahoo Finance, Google, etc.

Those are pretty much feature for a free software. However, this software has some limitations, among others, no tax support and user interface looks less attractive.

Buddi

My first impression on this personal accounting software is a very simple but very fast. Feature on this software as below.

• Multiple accounts.
• Create and maintain budget.
• Simple report in the form of pie charts and tables. You can add any kind of report you want with install additional plugins and of course for free.

Buddi is designed for home users with little or no financial background and accounting knowledge. So that only gives the basic functions of personal accounting software.

HomeBank

One of the unique features of HomeBank is the vehicle cost report. Vehicle cost report containing costs not only fuel consumption but also repairing cost of vehicle. It is suitable for you who have a personal vehicle. Other feature are.

• Multiple accounts
• Create and maintain budget. One of the advantages in HomeBank is export and import budget in csv file.
• Scheduled transaction.
• Reconcile manually your HomeBank with your Bank Statement.
• HomeBank provide many options in its report such as statistics, trend of time, balance Evolution During the time, budget, and vehicle cost report.

In my opinion, HomeBank provide a complete feature enough for a free personal accounting software. But there is one limitation on HomeBank of this software only supports one currency.

PLCash Accounting Software

The author says that this PLCash program is CareWare not just Freeware. The term is fairly new for me. Let’s see what features of this program.

• Support multiple accounts.
• Reconcile your PLCash with your Bank Statement.

The program is very light to run on your computer but unfortunately there is no budget feature to perform cost control over your spending.

Microsoft Money Sunset Deluxe

After discontinuing Microsoft Money Plus, Microsoft made Money Sunset Deluxe available for free. Microsoft Money Sunset Deluxe replaces earlier versions of the software with no Internet supported features like automatic transaction updates and Microsoft offers no support for this version. Then, what feature of this program?

• Support multiple accounts.
• Create and maintain budget.
• Schedule transaction.
• Microsoft Money Deluxe Sunset provides a bunch of option in its report. The options is divided into 5 categories:
• • Income and expense
  • Investment
  • Asset and liabilities.
  • Taxes
  • Comparison reports.
• Help menu is very helpful. Microsoft Money Deluxe Sunset not only provide help text-based but also video-based.
• Forecast cash flow and cash flow review. These feature can also estimate the state of your cash flow based on the scenario that you specify.
• Lifetime planner.
• Debt reduction planner.
• Portfolio Manager.
• Asset Allocation.

Microsoft Money Sunset Deluxe gives a very complete feature for a free program. I almost do not believe this. Disadvantage which I feel is some of the menus such as Investing, Planning, and Taxes have been disabled and will display the Microsoft’s web page. But, finally I found the trick to access these menu through creating the Shortcuts.

Summary

To facilitate you in seeing the comparison of each software side-by-side then I will show in the tables as below.

Review Free Personal Accounting Software

Feature	Ace Money	Buddi	HomeBank	PLCash	Microsoft Money Sunset Deluxe
Multiple Account	* 2 accounts
Budget
Multiple Currencies
Report	Good	Poor	Very Good	Poor	Excellent
Scheduled Transaction
Portfolio Manager
Reconcile Accounts
Help / Manual	Very Good	Good	Good	Good	Excellent
Cashflow Review
Lifetime Planner
Debt Reduction Planner
Asset Allocation

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