Regular readers will recall my disappointment with iBank 3. The upgrade from the previous version was going to cost $30 and I didn’t feel I was getting good value for money. I decided to retry Moneydance for a while. This had been my previous personal finance app before I was won over by iBank 2 eighteen months ago.
What do I miss from iBank?
- It has the feel of a proper Mac application
- The ability to only view recent transactions
- The widget to enter today’s transactions
What have I gained using Moneydance?
- An easy-peasy idiot-proof method for reconciling statements. You also can’t alter a reconciled transaction without Moneydance asking are you really sure you want to do this as it could mess up the balance of subsequent statements.
- A net worth over time graph
- Helpful pre-defined graphs and reports (and it’s easy to edit them to your own settings)
- A simple homepage that includes upcoming transactions and stock prices
- An easy to read graph on the homepage showing expenses or income over a range of timescales
- Quick keyboard entry of transactions
- Two columns – one for payments and one for deposits. This means I don’t need to enter a minus sign in front of expenses.
- A satisfying cha-ching sound on entering transactions!
My biggest complaint about Moneydance 2007 had been the horrible green GUI. The 2008 version is much better – it’s grey and looks far more like a Leopard application. Also it now has a pop-up calendar that I love.
I initially felt bad about considering dumping iBank. IGG’s support for iBank 2 was fantastic and I felt like a bit of a traitor. But I feel let down with iBank 3. I expected so much more and I just don’t think it’s worth the $30 upgrade. (Of course, there was also the option to stick with iBank 2 and not upgrade. The problem was, I had been using the iBank 3 beta for a month. Data entered into the new version can’t be read by the previous version. I would have to re-input a month’s transactions which frankly, I couldn’t be bothered with.)
Moneydance 2008 is clearly the winner here. There are still a few features I would like to see:
- The ability to download quotes for UK ISA funds
- Compatibility with Spaces in Leopard
- The icons to be on the left of the toolbar, not the right
I feel very happy with my decision to return to Moneydance. And it doesn’t even cost me anything. Bargain!