Microsoft Money Vs. Quicken
Money and Quicken are both computer software programs designed to aid in the finance management process. They were developed by Microsoft and Intuit respectively. Both programs are generally used to manage personal finance in a household or small business setting. In a rating based on setup, interface, features, service and support, the website CNET.com gave Intuit Quicken an overall score of 8.0, while Microsoft Money received a 7.3. In June 2009, Microsoft discontinued sale of Microsoft Money.
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Features
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Both Microsoft Money and Intuit Quicken allow users to make bill payments electronically and view financial accounts from multiple account locations. Both have spending thermometer applications. However, Quicken has a number of features that Money lacks. These include the ability to attach images to transactions (like bills or checks for example), the ability to save reports in PDF format, and a pop-up report feature that shows recent financial activity. Quicken also provides a service called Zipingo, which allows users to give their opinions of Quicken features online. However, Microsoft Money includes a tool for estimating debt reduction, a feature Quicken does not provide.
User-Friendliness
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While Microsoft Money is compatible only with Windows operating systems, Intuit Quicken can be used with both Windows and Macs. Both systems are considered easy to use, though CNET.com rated Intuit Quicken's setup and interface more highly than Microsoft Money's. Quicken also provides chat rooms and bulletin board services that help users solve problems and communicate ideas.
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Complaints
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Microsoft Money and Intuit Quicken both provide a bill-paying system that consolidates multiple bills into a single payment. However, these features require upgrades and Quicken's program requires a monthly fee. According to CNET.com, one thing customers dislike about Money is that it uses a .net passport account that requires a login every time Money is opened. Also, while Quicken gives you the option of storing financial data on a personal computer, Money requires that this data always be stored on its servers.
Price
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Intuit Quicken comes in five versions. According to bizrate.com, the Starter edition costs around $30, the Deluxe Personal Finance edition costs between $24 and $70, the Premier Financial Management version costs between $52 and $103, and the Home & Business and Rental Property versions both cost between $89 and $149. While Microsoft Money is now discontinued, its latest version, Microsoft Money 2008 Plus Premium, cost between $49 and $62.
Future
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On June 30, 2009, Microsoft officially took Microsoft Money off the shelves. Microsoft commented that because of the wide range of options now available for finance management, the consumer need for the program had changed. Users will still be able to use Microsoft Money until January 31, 2011. It is likely that Microsoft and Intuit will develop a tool for easily importing files from Money to Quicken.
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References
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Comments
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anonamouse
Oct 27, 2009
Wow, I've never seen a more erroneous article in my life. MSMoney does not require a .net passport, nor does it store data on it's servers. It does offer an optional online service. I've used both and MSMoney has far more power user features despite note being able to export reports in the horrible PDF format.
