MS Money now Freeware

[Awgeewhiz]

MS Money

Microsoft Money Plus 'Sunset' Versions
The Microsoft Money Plus Sunset versions are replacements for expired versions of Microsoft Money Essentials, Deluxe, Premium, and Home and Business. They allow existing customers to use MoneyPlus to continue accessing their data. Changes to the new versions include file conversions from older versions of Money, no required activation, no online services and no assisted support. Microsoft Money Plus Sunset is available now.

We encourage consumers currently using Money Plus with online services to retain their current version to take advantage of the online services until they expire. The Sunset versions do not support online services.

Background and Details
Microsoft stopped selling Money on June 30, 2009. The last version (Money Plus, or Money 2008) required online activation in order to be fully functional. Online activation was also required for every machine onto which Money Plus was installed. Now that Money Plus is no longer available for purchase, the online activation step will eventually become unnecessary and unsupported. This Money Plus Sunset package removes the activation requirement.

All Money Plus users whose online services expiration date is listed as on or after Jan. 31, 2011, should continue to use their existing copy of Money Plus (or older versions of Money) to retain online service until termination.

On Jan. 31, 2011, all online services and assisted support for all versions of Money end.

[Jojoyee]

Thanks Awgeewhiz for the good info.

I used to use MS Money software for some basic recording of personal financial transactions. At one time it also supported a mobile version but stopped supporting it some years ago. I was a bit surprised at that development.

And my experience in that software was that you needed to convert your file for older version to the newer version for it to work with the new version.

With all these restrictions, I had stopped using MS Money and decided to use GNUCash, which I've been using for about three years and it suits my needs. It doesn't have online service but I don't need it.

[Doobie]

How does free MS Money compare to the free offering listed by Gizmo's?

I checked Gizmo's Personal Finance software and found this monstrosity: Assets - Liabilities = Equity + Income - Expenses. Eek.

[Jojoyee]

Originally Posted by Doobie

I checked Gizmo's Personal Finance software and found this monstrosity: Assets - Liabilities = Equity + Income - Expenses. Eek.

That's an accounting equation and needs someones with some basic accounting or financial background to fully understand it.

But in general terms, the equation is just equivalent to the following which everybody can understand:

Uses of funds (Assets) = Source of funds (Liabilities + Capital)

See an example and how it works in Wiki.

[Doobie]

Originally Posted by Jojoyee

That's an accounting equation and needs someones with some basic accounting or financial background to fully understand it.

You might have noticed that your equation is not the same one on the Personal Finance page.

[Jojoyee]

Originally Posted by Doobie

You might have noticed that your equation is not the same one on the Personal Finance page.

Here it is:

Uses of funds = Source of funds
=> Assets = Liabilities + Capital
=> Assets - Liabilities = Capital
=> Assets - Liabilities = Equity + Earnings
=> Assets - Liabilities = Equity + Income - Expenses

Other variations to the above equation are possible depending on which areas they cover.

Most personal finance apps usually try to make it easy to use and users need not to worry about the equation, but absolutely it helps if users have some basic knowledge how it works.

[Awgeewhiz]

Originally Posted by Jojoyee

Here it is:

Uses of funds = Source of funds
=> Assets = Liabilities + Capital
=> Assets - Liabilities = Capital
=> Assets - Liabilities = Equity + Earnings
=> Assets - Liabilities = Equity + Income - Expenses

Other variations to the above equation are possible depending on which areas they cover.

Most personal finance apps usually try to make it easy to use and users need not to worry about the equation, but absolutely it helps if users have some basic knowledge how it works.

Mine is: Money - What I spend = NO MONEY.

[Jojoyee]

Originally Posted by Awgeewhiz

Mine is: Money - What I spend = NO MONEY.

That has always been the case.

[Doobie]

Originally Posted by Jojoyee

Here it is:

Uses of funds = Source of funds
=> Assets = Liabilities + Capital
=> Assets - Liabilities = Capital
=> Assets - Liabilities = Equity + Earnings
=> Assets - Liabilities = Equity + Income - Expenses

Equity includes retained earnings, so to add on retained earnings again makes the equation wrong. You're double counting net earnings

You shouldn't use "capital" in your financial equations. The Wikipedia article that you link to is wrong for using that word. But, even if you wish to believe Wikipedia over me, Wikipedia uses "capital" synonymously for "equity", not "equity + earnings": "The formula can be rewritten: Assets - Liabilities = (Shareholders or Owners equity or Capital)" (emphases mine).

What might be confusing you is that equity = contributed capital + retained earnings. Retained earnings are earned capital, just not contributed capital (stock proceeds). That is why your use of the term "capital" is wrong.

Now, stop arguing and go fix the equation in the Personal Finance article.

[Jojoyee]

Originally Posted by Doobie

The formula can be rewritten: Assets - Liabilities = (Shareholders or Owners equity or Capital)" (emphases mine).

That's absolutely correct Doobie and my apologies for working on a mistaken formula without noticing double counting.

At first I thought "Income - Expenses" implied net income for the year in the formula, but even so, it should be taken as part of the retained earnings and included in the owner's equity. Otherwise, it is considered as double counting in accounting terms.

I've fixed the formula in the article with a PM to our new volunteer editor who has just been assigned to the article.

As what is presented in a balance sheet generated by GnuCash, the formula reads as follows:

Assets = Liabilities + Equity

Thanks again Doobie for pointing out the mistake which didn't cross my mind, start getting old.

p.s. Awgeewhiz's formula "Money - What I spend = NO MONEY" seems easier to work on and it never goes wrong.