Finance managing applications are complex programs which let you manage and track all your monetary transactions. There are several such applications available online and most of them are complicated, but KMyMoney is a simpler one. KMyMoney is a free software which helps you track your finance without any specific accounting degree. However, there are many other such software available, but what makes KMyMoney different is its user-friendly interface. Unlike the other cumbersome software, KMyMoney helps you transfer your existing accounts or create a new one without issue.
KMyMoney Personal Finance Manager software
To use this finance managing application, you first need to set up a new KMyMoney data file only then you can import the QIF files and manage your transactions.
It is very simple and well instructed by the program itself. Go to the Home tab and the program will ask for your personal details including your bank accounts and the currency you use in your transactions. It has almost every known currency listed but be careful while choosing the base currency because the action can’t be undone.
Features of KMyMoney
KMyMoney is a simple software and comes with a quick and easy setup. The moment you download the program, it will give you step by step instructions to install it. You don’t need technical knowledge to set up this software in your Windows PC.
Once done with your setup, KMyMoney asks for the basic information and take you to the advanced settings. If you have used any other banking software before, you can transfer all your data in a Ziff. You have to import the data exported from your other financial software.
If you haven’t used any other financial software before, you just have to add your banks here in KMyMoney and your respective accounts. Make sure you put your accounts incorrect groups like the current account, savings account, and credit card.
KMyMoney is very well organized and comes with a simple and clean interface. The main overview has it all, and you can easily navigate through all its panels and complete your routine banking tasks. It is one of the best finance tracking software for small businesses. However, it is not suitable for big businesses with heavy transactions
All of its functional icons are lined up vertically in the left panel, and other features are in the main menu ribbon on the top. Just click the required button or icon and start using the software. You can link and manage all your accounts here with KMyMoney, and the home screen will display all your respective transactions.
KMyMoney is also well categorized, and every category has the subcategories further, giving you quick and easy access to your accounts and finances. Just pick the required category and select the subcategory and the traditional drop-down menu shows you the subcategories further.
The home screen displays all your accounts and the standings. You can also see all your payees and the transactions done under their names. So, it basically gives you easy access to all your accounts and the transactions. You can keep track of how much money you have received and how much you have paid and to whom.
KMyMoney also provides online banking facility, but the features are quite limited as compared to the other such applications. You can easily link your online banking to the software directly, but that is not recommended as per the security reasons. So, basically, KMyMoney should be used for your account monitoring and keeping track of the transaction entries. Though, you can also transfer the funds or pay your bills using this application.
Overall, KMyMoney is a simple and useful software which lets you keep track of all your monetary transactions. It is very much suitable for the small businesses but might not suit the big business houses with heavy transactions. Download the software here and let us know how you like it.