After enjoying Tesco’s Photorestyle software, we were confident that its budget bookkeeping cousin, would equally impress us.
Easy to install and licenses for two computers, Tesco Personal Finance also comes with a password security option to keep sensitive accounting figures private.
Tesco's Personal Finance has a similar backbone to Microsoft’s Excel but offers additional tools to specifically plan and track budgets, calculate loan repayments and schedule payments in and out of accounts.
On first use, you're presented with the option of opening a new spreadsheet, importing data from a QIF file (the programme works with software such as Quicken or MS Money) or opening an existing sheet.
The basic home page gives an overview of current balance, a list of currency rates and a calendar with a reminder.
However, it comes with nothing more than installation instructions, which left us fairly confused as to how the program works. After a few attempts of entering data, which put us in overdraft rather than credit, we concluded that a 'getting-started' wizard and tutorials wouldn't have gone amiss and would certainly help most non-accountants get through those first few steps.
In addition to working out balances and budgets, the software can synchronise with online bank statements. It's also possible to input future bills, loan payments, and cheques. Reminders flash up in red if they are overdue and the program is also able to automatically calculate interest payments for mortgages and other loans.
For those feeling extra creative there's a tool that can generate reports and graphs. If only it could also explain how to make money in the first place.
Also consider:
Intuit Quickbooks Pro 2006
An easy-to-manage accounting solution with something for everyone
Quickbooks Simple Start
An excellent program for managing your accounts with the minimum of fuss.
Microsoft Money 2005
Used properly, Money 2005 will pay for itself many times over. Highly
recommended.
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