KMyMoney vs. MS Money
Eugenia Vlasova
April 09, 2006

Home accounting is a very useful thing.

Years of experience working with MS Money shows me that money loves to be counted. To tell you the truth, entering cheques info every day into an accounting program wakes up lazy feelings in me, but:

first, my family is calm and happy because nobody asks the sacramental question "Where is the money?",
second - I've started to understand where all the money earned with big efforts goes and
third - I have enough data to plan the family budget.

Everyday, accounting gives me a clear picture of how much I pay for food, how much I pay for community services, and how much money I should have in "reserve funds" for cases of emergency, and how much money I could spend for entertainment without "enjoying hungry feelings" afterwards.

When I've transited from MS Windows to Linux, I was afraid that I couldn't find an adequate replacement for MS Money that gives me that feeling of financial stability, despite the fact that 3/4 of its functionality is absolute garbage in Russian reality. During one week, when my new Linux was installed and tuned, we've received and spent money without any accounting, and that gave us a feeling of instability. Finally, my notebook became usable, and the new freeware program KMyMoney appeared on it.

During the installation procedure I was asked what country I reside in, and according to my choice I've received the predefined set of financial institutions and relations. For example: in the category "Income" I've got subcategory "Payments" with sub-subcategories "Main payment", "Bonus" and "Other income".

(Translators note: the untranslatable russian word "shabashka" was used here which means "payments from unexpectable random temporary occupations". This term is hardly understandable by anybody who didn't live in the former Soviet Union, where any other payments received except from your primary job were strictly prohibited and could lead to arrest)

When I've browsed expense categories I did find it generally adequate to our modern environment.

KMyMoney uses a different accounting compared to MS Money, but I didn't have any problems to learn it. KMyMoney allows you to use many accounts simultaneously, including separate accounts for "life" cash and bank accounts, scheduling regular payments and receive reports about incomes and expences in all meaningful aspects - by payer, by categories, by time periods, and so on.

De facto I've got all functionality I was used to in MS Money and I don't have the feeling that KMyMoney misses any of my accounting needs.

The original Russian version is available here