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Computerized Investing > May 28, 2011

Home Bookkeeping

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by CI Staff

Home Bookkeeping is a personal financial management program designed to help you keep track of your routine income and expenses. The software allows for multiple users in the same file and analysis, which is particularly useful for people who keep their finances separate but would like an overview of their spending as a whole.

In order to get started, add your name in the User Manager section of Home Bookkeeping. Be sure to add all the accounts you frequently use in the Accounts section. Each debit and credit you make can be assigned to an account. In the Brief Accounts tab, you can see the balances and inflows and outflows of each account, and the Detailed Accounts tab provides a breakdown of each transaction.

Income and expenses are recorded in their respective sections, and each is assigned a category and a subcategory. The program allows users to create categories that are not originally in the program, allowing you to be as specific as needed. Home Bookkeeping offers users the capability to filter income and expenses by date, account name, category, and subcategory, providing users with an accurate display of how much was spent (or earned) for a given period in a specific category of expenses. The Debtors and Creditors tab tracks any debt you owe or are owed and can provide reminders.

Home Bookkeeping offers both budget and planning sections. Budgeted income and expenses can help you stay on track to meet your personal financial goals. The planning section details income and expenses that will occur in the future. Specific numbers and dates can be added to the program, which can help track recurring inflows and outflows. In fact, the two categories complement each other quite well.

One area of the program that users should find very useful is the flexible printing capabilities. Brief and detailed accounts, income, expenses, planned income and expenses, and debts can all be printed according to various filters. Furthermore, detailed income and expense reports can be generated with or without debts for different time intervals.

Overall, Home Bookkeeping is a valuable personal financial management program. The main disadvantage of the software is its noticeable inability to track investments. Not only is it unable to provide investment account figures, there is no investment section at all even for manual updates. However, the printing and reporting capabilities are strong and the program would be recommended for users who have other methods of tracking investments. Note that the program does not need Internet connectivity, or save information online, meaning sensitive data should be relatively safe.

Home Bookkeeping

http://www.aaii.com/download-library/download?DL_ID=652

System Requirements: Windows operating system, 6MB free disk space

Price: $29.95; free 30-day trial


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