Moneydance is particularly good at handling investments and transactions in multiple currencies so is an excellent choice for those that hold investments or make purchases in currencies other than US dollars. Moneydance will also download stock prices automatically in real-time. You can see the total value of your investments or the performance of individual stocks and mutual funds over time. Investment tracking in Moneydance is easier to navigate and more powerful than Quicken, with support for stocks, bonds, CDs and mutual funds among others. In general though, for those banks that do still support Direct Connect, Moneydance is very reliable when it comes to syncing and downloading online banking and investment house statements. Unfortunately, Moneydance doesn’t support EWC+ yet and so if your bank doesn’t support Direct Connect, you won’t be able to sync it with Moneydance.
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However, some banks are choosing to drop Direct Connect support completely in favor of using EWC+ to connect to personal finance software like Moneydance. This is often due to security changes on the bank’s side regarding how third party applications access them rather than Moneydance itself. Note however that as with all personal finance apps, syncing with Direct Connect doesn’t always work. This is useful when it comes to recognizing ledger history and auto-suggesting similar payee entries.
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It also intelligently learns how to automatically categorize and sort downloaded transactions so that they are easier to manage. Moneydance will automatically download transactions and make bill payments to hundreds of financial institutions via Direct Connect which is the same system used by Quicken for Mac. One of the main reasons Mac users have switched to Moneydance is the reliable online banking features. You can easily setup recurring payment reminders using the calendar too. To access more details for an account, simply click on it and you can enter transactions or reconcile it against a statement.Ĭlicking on a transaction reminder will display a window where you can automatically record the transaction. The integrated calendar overview is particularly useful for a quick oversight of upcoming credits and debits so you can manage your finances for that month more easily.
It gives you all the essentials such as account balances, upcoming and overdue transactions and exchange rate information. Moneydance provides a very clear overview of your finances.
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One of the big attractions of Moneydance compared to Quicken and other products is that it works offline on Mac desktops so your financial data isn’t hosted in the Cloud.Īnother plus is that unlike Quicken, there is no subscription to use Moneydance and it’s a one-off payment of $49.99. Moneydance includes most of the major features of Quicken including online banking and bill payments, bill attachments and has excellent investment tracking and budgeting tools.
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