Before downloading transactions, you can select predefined periods of time for the transactions you want to see in the register, and it’s great to have this option, which is particularly helpful if you only want the past six month’s worth (for example) of transactions instead of two years worth. Not all personal finance software offers this option, and you can easily end up downloading months of transactions that you don’t want to track.
If you tend to carry a credit card balance rather than pay off your balance every month, then you’ve seen a finance charge added to your balance. Finance charges are applied to credit card balances that aren’t paid before the grace period. Unlike most other credit card fees, finance charges aren’t a flat fee. Instead, the finance charge is calculated for each billing cycle based on your balance and interest rate. Generally, higher balances and interest rates result in higher finance charges.
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AceMoney from MechCAD Software is easy to use personal finance software that claims to be the best alternative to Quicken or Microsoft Money. AceMoney doesn’t look quite as polished as the other two, but it does the job when it comes to tracking financial accounts and a budget. Setting Up AceMoney: Setting up and installing AceMoney is a very simple process. During the setup procedure, you’re given the opportunity to select a default language and currency along with other options. The list of available languages and currencies is quite long, which undoubtedly contributes to the popularity of this personal finance software worldwide.
If your credit card issuer uses the average daily balance method to calculate your finance charge (check your credit card statement or terms and conditions to confirm), you can use these instructions to estimate your finance charge. You’ll need to have an idea of what your average credit card balance will be. Your credit card agreement may include a minimum finance charge that’s charged anytime your balance is subject to a finance charge. For example, your credit card terms may include a $1.00 minimum finance charge. If your calculated finance charge for a particular billing cycle is only $.65, you’ll be charged a $1.00 finance charge for that month.
Investments, The investment support in AceMoney includes some basic graphs, a list of investment transactions and a list of portfolio holdings with the total value and overall loss or gain. There’s enough there to keep an eye on your investments, so you’ll have to use stock analysis software if you want more advanced portfolio support. Your brokerage likely provides more advanced analysis tools online as well. Automatic Transactions: AceMoney will not automatically download transactions for all accounts when you open the software, a feature found in Quicken and once found in Microsoft Money when it was fully supported. Instead, you must go to each account and click on the Download transactions button.