All about KMyMoney
If you are searching for a finance-tracking application that can handle personal finance transaction or small business transactions well, then KMyMoney is the perfect program for you.
Created by KDE, KMyMoney is a free application meant for the following operating systems: FreeBSD, Windows, and Linux. It also supports different account types, expenses categorization, various currencies, multiple usable reports, and online banking support through QIF, OFX, and HBCI.
It has three fundamental goals:
(1) Accuracy – it uses time-tested double entry accounting principles that helps ensure that your finances are kept in correct order.
(2) Ease of Use – it is the easiest open-source personal finance manager to use, particularly if you are non-technical user.
(3) Familiar Features – it has all-important features which are found in commercially-available personal finance managers.
Features and Functions of KMyMoney
KMyMoney has the following essential features and functions:
– It has a welcome page which helps new users get off to a good start.
– It provides you with your own financial summary, which is an overview of your finances. This includes overdue and upcoming scheduled transactions. The summary also includes all your accounts and their current balances. The page can also be customized based on your needs and preferences.
– It has an Institutions View. In this mode, your accounts can be viewed and managed through the institutions (i.e. banks) where they are held at. You can easily find and add new financial institutions through the New Institutions Dialog box.
– It has an Accounts View. In this mode, your accounts are organized, viewed, and managed by account type (i.e. Asset account, Liability account) or by category (i.e. Income, Expense)
– It has other modes to make it easier for you to create and edit financial transactions.
– There are powerful reports available which can be exported as .csv files.
The Final Verdict
If you are seeking a simple but comprehensive finance and baning tool, KMyMoney is a win-win solution. It is not cumbersome, and is designed to integrate seamlessly with any desktop environment. It scores high on usability points, and is especially designed for the non-technical user who will appreciate its familiar user interface.