Personal Finance:

Microsoft Corp.
Microsoft Money 97

REPORT CARD
Microsoft Money 97
Power Ease
Checkbook
management
A
A
Budgeting
A
A
Tax and
financial planning
C
A
Portfolio
managment
B
A
Electronic
connections
A
A
Last year, Microsoft Money emerged as a force to be reckoned with. Its sleek Windows 95 interface, exceptional usability, and financial management features presented Intuit's Quicken with a formidable competitor. This year's version, Microsoft Money 97 5.0, retains the look and feel of its predecessor while adding many functional improvements, particularly in the area of online banking. Money 97 still lacks some of the general financial management tools that Quicken offers, but this latest version is clearly a first-tier home banking front end and personal money manager.

Getting started with Money 97 is easy, even if you have to import data from another finance package (Money 97 can import data in .QIF or ASCII format). Quicken users have an even easier route: Money 97's new Conversion Wizard for Quicken walks you through the steps required to grab an existing Quicken data file and drop its contents into Money 97.

When the time comes to enter data, Money 97 lets you assign every financial action a set of predefined but customizable categories, such as groceries and insurance. Categories can be designated as tax-related and even assigned to the correct IRS form or schedule, simplifying data preparation at tax time.

Transaction entry in Money 97 has been modified slightly for the sake of convenience, but it still lacks the cohesiveness and ease that has always been Quicken's trademark. Money 97's Account Wizard simplifies the setup of accounts to house your transactions. These range from asset to cash to retirement.

The data entry screen for all accounts contains a checkbook-like register at the top and a set of forms below. Each form contains tabs representing the types of transactions that can be completed.

Bills, deposits, and fund transfers can be automated in Money's Financial Calendar. A wizard makes this a no-brainer, but a generous number of payment interval options give you plenty of flexibility. This process would be even simpler if it were better integrated into the account register screens.

If you're not tracking your portfolio elsewhere, you can set up simple portfolios in Money 97 to manage stocks, bonds, and mutual funds. Internet users can grab stock quotes listed on the NASDAQ, New York, or American stock exchange, pulling these in to update their portfolios automatically. You can also use your own Web browser to connect Money 97 with the Money Zone, the product's home base on the Internet.

Money 97's reporting capabilities haven't changed much since last year. You can easily create and customize reports relating to your home and business income and expenses, tax liabilities, and investments. The package's planners have also not been altered. You can use these to compare two real-estate loans, amortize loans, work toward a savings goal, plan for retirement, and estimate interest on an account.

The lion's share of Money 97's enhancements fall in the home banking arena. The Home Banking Wizard helps you determine what your online banking and bill-paying options are. If your bank is one of the 58 supported by Money 97, you can pay your bills via online links through the program. Otherwise, you can still pay bills using CheckFree or Visa e-Pay.

Money 97's interface certainly rivals Quicken's. The opening screen displays pictures that represent the program's main sections; it also features a chart of the day and a tip of the day. Without exception, Money 97's screens are skillfully designed and nicely intuitive.

Though it has not made quantum leaps forward as it did last year, Money 97 remains a top-notch personal finance manager with a focus on the future: online banking and the Internet. -- Kathy Yakal

Microsoft Money 97 5.0. Microsoft Corp., Redmond, WA; 800-426-9400, 206-882-8080.
http://www.microsoft.com/


Copyright (c) 1997 Ziff-Davis Inc.