As you all know, finance is the lifeblood of any business activity. Whether the business concern is big or small, it needs finance to meet its requirements. In other words, finance is the art and science of managing money i.e..,fund management. Do you want to manage your money? If so, how can you manage through software? This article will help you to learn about the best personal finance software that manages your money.
What is personal finance?
Personal finance is the activity of managing your own money (personally or officially)
Why personal finance is important?
There are a number of different reasons as to why a person should learn about personal finance. Well, personal finance is very important and here are the reasons for it.
- To manage your income more effectively.
- To know where the money comes from.
- To increase your cash flows.
- To understand where the money is going.
- To prepare for the emergency situations.
- To consider your long-term goals as more important.
- To create savings.
Want to manage your money? How ?
Sometimes, managing your money seems complicated. How you manage, spend and invest your money has a greater impact on money management. By using personal financial software, you can manage your money as well as you can identify the efficiency and growth of the business concern.
What do you mean by personal finance software?
Personal finance software is the software which is used to track your financial records such as income and expenses, bank and credit card transactions, online bill payments, analyzing budgets, investments, and tax related reports. It also helps you to understand and take control of your financial life. This software takes many forms such as websites, mobile app, computer programs and other digital codes.
What are the types of financial software?
Financial software is mainly classified into two categories. They are
- Financial management (money management) software
- Tax software
Financial management software deals with banking, income flow, budgeting, investing and planning. While tax software deals with importing tools, tax form preparation and e-filing of your taxes.
What are the best personal finance software?
Listed below are the best personal finance software which deals with the money management in a business concern.
Mint.com is a free personal finance software used for budgeting and record-keeping. This money manager app manages all your finances easily and it brings together your bank accounts, credit cards, bills and investments at one place. Once if all the financial data are entered, Mint can more accurately prepare budgets, set goals and displays your net worth ( amount by which assets exceeds liabilities. Mint recently added some new features and it has grown stronger and has become useful to people who use it most.
- It is free and easy to start.
- It automatically updates and categorizes information from your bank accounts.
- It helps you to watch/manage your money.
- It helps you to find savings.
- It helps you in creating budgets and tracking your investments.
- It helps you to pay your bills quickly.
- It helps you in tracking your net worth.
Money Manager EX is a finance software that helps to organize your personal finances as well as business finances easily.You can use it to track of where, when and how your money gets spent. It also supports checking credit card savings, stock investment accounts, as well as fixed assets with depreciation accounts. This software gives an overview of your financial net worth.
- It is simple and user-friendly.
- It helps in checking credit cards, savings, stock investment accounts.
- It helps in creating budgets.
- It does not require an install, it can run from a USB key.
- It helps in predicting cash flows.
- It has an international language support (available in 24 languages)
- It helps in preparing graphs and pie charts.
- It helps in setting reminders for bills and regular deposits.
- It deals with multi-currencies.
- It helps in updating your financial transactions.
Quicken software is a financial software that helps you to manage your personal, small business and rental property in one place. There are several versions of Quicken are available for windows such as Quicken starter, Quicken Deluxe, Quicken Rental Property Manager, Quicken Premier and Quicken Home & Business. You can use it to categorize all your personal, business and rental property transactions. It also supports you in knowing your financial status of a business concern which may be profit or loss.
- It helps to manage your bills in one place.
- It helps you to regulate and save your business and rental documents directly in Quicken.
- Without upgrading, you can get the latest features.
- It helps you to manage rent with e-mail rent reminders and receipts.
- It helps you to safely import all your transactions.
- It helps you to know how your investments are performing.
- It helps you to secure your information.
- It helps you to separate your business and personal finances.
- It helps you to know about your profit and loss reports.
Gnu Cash is a personal and small-business financial accounting software which is freely licensed under the GNU GPL. It allows you to track your bank accounts, stocks, income and expenses. This software is based on professional accounting principles and you can easily calculate and monitor your financial situations with Gnu Cash.
- It helps in handling invoice and credit notes, accounts payable and receivable, employee expenses and payroll features (the total amount of wages paid by a company to the employees)
- It has the ability to show your multiple accounts in a single register window.
- It displays a summary of your account balance information accurately.
- It helps in setting an automatic reminder for your transactions before it becomes due.
- It helps you to manage your business budget so that you can even plan for your financial plans.
- It deals with multiple currencies
Ace Money software is the personal finance software which deals in regulating and managing your personal finances quickly and easily. This software is easy to start and simple to understand. It offers a simple way of tracking your financial transactions. This software supports you to keep your finances organized.
- It is easy to use.
- It automatically classifies your expenditures, spending expenses and balances.
- It updates your financial transactions quickly.
- It provides security to your financial data.
- It provides email support to customers who need technical assistance.
- It supports multiple accounts such as checking savings, credit cards, loans and debt accounts.
- It helps in tracking your investment performance.
- It deals with multi-currencies.
- It helps in setting reminders so that, there is no need of paying the fine amount.
Personal finance software is a software which helps you in tracking where your money is and what your financial situation is. Thus, this article will you in choosing the best personal finance software you need.