Moneydance is a worthwhile replacement to Quicken for Mac. I have been using Quicken as long as I can remember. One of the features that kept me loyal to Quicken is the ability to send online payments from within the program itself. There are dozens of alternatives to register your transaction, see reports, etc. However, in order to pay the bill you would have to log in to your banking website and pay it and then go back to the financial software and record this transaction. There were some worthwhile alternatives out there but none that had Bill Pay.
Well with Quicken not working with Lion I searched for alternatives. The only one I found that sends the payment for you within the program is Moneydance. iBank, Money4, Quicken Essentials, Mint, and Moneywell do not.
So how does Moneydance stack up? It actually stacks up very nicely and is a wonderful alternative to Quicken for Mac. It’s powerful, feature rich, and very easy on the eyes.
Importing your Quicken data into Moneydance
I was a little worried about this but it imported my Quicken database perfectly. It kept everything intact. All my accounts, categories, transactions, etc. It was quick and effortless. I was actually surprised. I expected I would have to tweak some things but I didn’t have to do anything. Two big thumbs up on that. I was real impressed.
I actually prefer Moneydance when it comes to showing reports on where my money is going. Quicken has the same information if not a little more but Moneydance was laid out cleaner and easier to generate the reports. So viewing reports shouldn’t be an issue either. It is very powerful and laid out very nicely. I use it to generate reports when it comes tax time.
This is the major kicker here. There are some wonderful programs that you should seriously consider if you do not need bill pay through your software. Sure, Moneydance is a worthwhile alternative even if you don’t need bill pay but this is what really separates this program from the rest.
With Moneydance you go into your menu and click “Send Online Payment”. It brings up a box of your list of payees you set up. From there you type the amount and after that it sends it for you and logs the transaction. That’s it. The only difference I really seen is that Quicken returns a check number where Moneydance does not. Not a big deal but just something to keep in mind. With Quicken you could do multiple payees and then send them all at once. With Moneydance it appears you can only do one at a time. A minor annoyance but not a deal breaker.
One feature that I like in Moneydance is that you can download transactions. You can do that with others but I liked the way this one worked. I never used it in Quicken because it always made a mess of my registry.
For example: I logged a purchase from a gas station myself. When I clicked on download transactions it recognized that I already entered it and asked me if I wanted to merge it or make a new one. It does this on any transaction that you entered yourself. With Quicken I would always go to my banking website and see if it cleared then go back into Quicken and mark it as cleared. Now with Moneydance I just download transactions and then I choose the merge option. Very simple.
Cross platform capability
This is a huge feature for some people and what really separates Moneydance from Quicken and many of the others.
I have been real impressed with Moneydance and it has replaced Quicken. For some Quicken has some powerful features that you might not be able to let go. Moneydance has a great interface, cross platform capability, ability to generate reports and bill pay. I think it’s at least worth the time to download a free trial of it to see if it will work for you. Give it a week or two to get familiar with it and I think you will come to like it and see it as a very worthwhile replacement to Quicken.