Software for Expense Tracking
Expense tracking software can be a very useful tool for budgeting and keeping track of where money is going. Programs have different features based on individual needs, from simple to complex.
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Types
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People's expenses are not "one size fits all." A good software package should have many expense categories to choose from. Software packages such as Quicken and Ace Money offer many categories so that expenses can be properly entered and categorized. In addition, both offer the ability to generate reports to better track expenses in specific categories.
Account integration
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To better track expenses, many programs can connect to banking facilities such as a checking, savings or money market account. For example, Quicken can connect to many financial institutions in order to download information. This eliminates the need to visit multiple websites to check accounts and transactions.
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Other Features
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Other features of expense tracking software include the ability to set payment reminders, integrate with tax preparation software and a loan calculator that helps determine payments for large debts such as a home or car loan. In addition, more robust software packages allow a user to track and manage business expenses.
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