Managing one’s personal finance is a very important task, and technology has always aided us in doing so. There are numerous mobile apps, web services that let you maintain your personal finances. But the tool that we have reviewed in this post does a little more than that. It simplifies accounting for a small household economy in a very efficient way. Eqonomize is a free standalone software for Windows that lets you manage your household finances and a very intuitive way.
Eqonomize personal accounting software
This free accounting software is a very extensive one and comes with all the features that you might ever need while managing your finances. Once installed, you can get started right away by adding virtual accounts. You can replicate your existing accounts by using the opening balance feature. Once the accounts have been added, it is time to add your income and expense categories. It does come with a few categories pre-created, but you can add more as per your convenience.
Now you are all set to add your transactions to the tool. Income and Expense transactions needed to be punched in separately from the different tabs. Once you start adding your transactions and the tool has enough data, you can start using other features such as budgeting.
Under Accounts & Categories tab, you can view a summary about all your assets and liabilities in one single view. You can also define a budget for various categories of expenses, and that would be reflected in this tab as well.
Another interesting feature that Eqonomize has to offer is Loan management. You can add your loan details, and the tool will help you manage your loan and track its progress as time passes. Debt payments and also be added under loan management. You can also set up recurring transactions and schedule them so that you don’t have to manually add them every time. Scheduled transactions can be of any type, including income, expense, transfer, debt payments, and split transactions.
Eqonomize also lets you manage your securities, which I don’t think any other accounting software lets you do. You can manage your stocks, mutual funds, and other securities in the same tool you use to manage your finances. How convenient is that?
The tool ensures that you have access to all the tools you might need to manage your securities. You can manually update stock prices and perform operations like buying and selling of shares.
The program also comes with excellent visualization tools. It lets you customize and generate various expense reports and charts. These tools are really helpful when you want to compare your accounts month after month.
Eqonomize is a great accounting software to use, overall. The simplicity reflects even while performing complex tasks is just amazing. And the most important thing about using this tool is that your data stays on your computer, and you can delete it whenever you want to. You can download it from github.io.