Free Personal Accounting (Financial) Software

AssociatedLJefflas @ dblmoney.com on 04/03/2016 - 09:32
Last edited 04/03/2016 - 10:06 by 1 other user

Hi,

I have recently retired to pursue my life and long-time passion to develop a comprehensive personal finance software program.

DBLMoney (Australia) is a free personal financial management program designed to assist individuals and family units record and control their money. Essentially it converts downloaded bank and credit card files into a full set of financial statements, namely Income and Expenditure (Profit and loss), Net Worth (balance sheet) and Cash Flow statements

The design of DBLMoney has been influenced by the following beliefs and values:-
1) You can only manage what you measure.

2) Show me my money. The sole purpose of financial software is to provide a complete view of your finances from every possible angle.

3) The program should be function and feature rich. You should grow with and not out of the software.

4) The program should be a learning tool which will allow users to develop their financial management skills from a novice to an expert.

5) Accounting in pencil. The program should be forgiving and allow easy error corrections.

A free version of DBLMoney (Australia) can be downloaded from www.dblmoney.com.

Note: DBLMoney (Australia) is NOT suited for business as it does not include Accounts Receivable, Accounts Payable, Inventory, Invoicing and GST.

Free Software/Websites

Related Stores

dblmoney.com
dblmoney.com

Comments

  • CyberMurning on 04/03/2016 - 09:35

    so each time we got statement from banks (saving, credit card, etc) - or maybe in regular basis for example last day of the month - we need to download them then then feed into software?

  • akd on 04/03/2016 - 09:37

    Looks good. I will give it a try on weekend, although my personal database does the job well.

  • AssociatedJefflas @ dblmoney.com on 04/03/2016 - 09:58
    +2

    Correct - the program does not support direct bank feeds, with its associated costs and security concerns.
    You can log into your bank account and download your bank files from within DBLMoney.
    The UserID and Password(or hint) can be assigned to the F8 and F9 key respectively making this task very easy.

    You set up accounts and rules on the fly, as and when required.

    Rules will automatically allocate the bank transactions to the correct accounts.
    I process a months credit card and bank transactions in about 10 - 15 minutes.

  • CyberMurning on 04/03/2016 - 10:03

    You can log into your bank account and download your bank files from within DBLMoney.

    within? wow sounds good i was thinking of go to each bank and download then feed/import into dblmoney. but if can do from your apps it is better

  • AssociatedJefflas @ dblmoney.com on 04/03/2016 - 10:25
    +1

    The way this works is as follows:
    When you create a bank account you enter the login url and assign values to the F8 and F9 key.

    To download and process a bank file select the bank and click the Online Bank button.
    The program will automatically open your bank login page in your web browser.
    You are now operating outside the program, and there are no security risks as far as the program is concerned.

    From within your web browser you may download bank transactions as well as perform any other available functions such as view account balances and make payments.

    Once you close your web browser, your are back in the program.
    Click the preview button and you will see all the newly downloaded transactions.
    The program is smart enough to identify and exclude transactions that have been previously downloaded.

    • tomclancy on 04/03/2016 - 11:50

      Hi OP, appreciate the effort of creating the software and posting it here.

      I'd just like to touch on the security aspect because it seems to be a key differential of yours to the others listed below which have auto-importing and are thus seen to have security flaws. My issue is that while your software opens a seperate and seemingly 'safe' window outside your software, then how does your software access the transactions that were downloaded/accessed in that window? If your software is tapping into that window doesn't that mean security flaws? Playing devils advocate, if your software is accessing the separate window then how are we sure you haven't got a keylogger on the bank login window? In my mind your security is not any greater than the auto-import transaction software listed below. Maybe you could change it so that we download the transactions to CSV manually ourselves and then your software only imports the CSV file rather than going online?

      Just a thought

      • AssociatedJefflas @ dblmoney.com on 04/03/2016 - 12:29
        +2

        Hi,
        Thanks for the question.

        Firstly, there is nothing stopping you from downloading the csv file manually outside the program and then opening the program and importing the csv file now located on your local computer.

        That is in fact what the program is doing. It does not obtain any data from the browser. When you configure the bank account you nominate the sub-folder where the imported csv will be stored and the download file name. This could be the default download folder or as I prefer a folder called "download" hanging off your data folder.

        The program therefor knows the name of the download file and where it resides.
        When you download the bank file, choose the Save As option and save it in the nominated folder using the nominated name.
        It is then a relatively simple matter for the program to open and processing the local file.

        • tomclancy on 04/03/2016 - 14:49

          Thanks for the clarification OP

      • Ryanek on 04/03/2016 - 13:11

        From what I can gather the application is not accessing any web data. You still have to import the files manually into the app. It just lets you map hotkeys to your banks URL.

  • sweefu on 04/03/2016 - 10:27

    How is this different from Pocketbook?

    • AssociatedJefflas @ dblmoney.com on 04/03/2016 - 10:34

      Sorry I can not help as I am not familiar with Pocketbook

    • andy19363 on 04/03/2016 - 10:36

      or neobudget.com

    • battler on 04/03/2016 - 10:40

      or moneybrilliant

    • AssociatedJefflas @ dblmoney.com on 04/03/2016 - 10:46

      I am not familiar with any of the products mentioned.
      However I would love to hear about your favourite features and functions in these products with the view of possible adding them to my enhancement list.

      • andy19363 on 04/03/2016 - 13:21

        neobudget is web based, so accessible from anywhere…
        No auto import, so similar to yours… but requires a certain amount of work in allocating funds…. at least initially.
        'envelope' based
        Not free for anything other than 1 basic account
        https://neobudget.com/

        • AssociatedJefflas @ dblmoney.com on 04/03/2016 - 13:48

          To be honest, making software cloud based would be a huge time and learning curve for me.
          I have however given this matter a great deal of thought and can not see any real benefits when it comes to personal finances.
          I would like to hear from anyone who believes to the contrary.

          As far as envelope based is concerned DBLMoney does support budgets including balance sheet budgets.
          Whilst I understand envelope accounting conceptually, I have never used it. I have an inkling that it is a little more then a mere budget.

          I would like to hear from anyone who uses envelope accounting, with the view of possibly adding this as an enhancement

        • OzJD on 05/03/2016 - 17:43

          @Jefflas: we have a bunch of Macs, and Androids. (I know WINE may work on Mac, but it's often painful). We don't use Windows (at all).

          Cloud means EVERYONE can use it.

          If you're ever interested in doing things online, feel free to send me a message.

          FWIW: I currently use YNAB Classic on Mac, but mostly on my phone.

    • tomclancy on 04/03/2016 - 11:43
      -1

      or Wave Apps

  • ozhunter on 04/03/2016 - 10:31

    Clicked the link in the email and it started downloading. File ended up being corrupted and the link doesn't work anymore.

    • AssociatedJefflas @ dblmoney.com on 04/03/2016 - 10:39

      Strange - we have never had this problem before.
      Try downloading the file again.
      If this does not work send an email using the contact form -please include your email address - and I will try and help you from there.

      • ozhunter on 04/03/2016 - 15:33

        Had Avast pop up when I tried to download it, it worked after disabling it.

        Also it would really need the ability to snap the window as now you'd have to always resize it manually.

        I don't use any accounting software but pocketbooks seems to be quite popular and the fact it has ios/Android apps would make it more convenient.

        • AssociatedJefflas @ dblmoney.com on 04/03/2016 - 16:06

          Glad you managed to install the software.
          Have a look at my reply to spersephone below with why your anti virus software blocks the program.

          Can you please explain what you mean by snap the window?

          I have developed the program as a windows desktop application as I did not want to make programing compromises.
          I believe I have traded a superior program for the loss of some potential users.

        • ozhunter on 04/03/2016 - 18:46

          @Jefflas:

          https://www.youtube.com/watch?v=_Y2YG8xydGk

          I personally wouldn't even considering using it unless it had the snap feature.

  • Brainwhacker on 04/03/2016 - 11:58

    Hi OP, I think this is a great initiative and you need to be commended for your initiative with the program.
    I am yet to trial the above program but I am using pocketbook at the moment. Pocketbook is not an accounting software (yet), it can track expenses and auto feeds from various bank/credit card accounts; the biggest drawbacks for me are 1. inability to split expenses, 2. Expense classification/sub grouping.
    OP, if you need a hand with something on the program I will very happy to assist with you it as a Volunteer. Congrats and all the best in pursuing your passion!

    • AssociatedJefflas @ dblmoney.com on 04/03/2016 - 12:49
      +5

      Firstly thanks for the encouragement - it is hell working in a vacuum.

      Academically I am a chartered accountant, who spent 47 years either working as a financial manager or selling and supporting accounting software to small business. So hopefully I appreciate the accounting requirements of a personal accounting system.

      The program has no problem splitting transactions (not only expenses).
      A typical salary transaction without salary sacrifice should be split as follows:
      Debit Bank Account (Asset)
      Debit P.A.Y.G (Expense)
      Credit Gross Salary (Income)
      Credit Employer Super Contribution (Income)
      Debit Super Contribution Tax (Expense)
      Debit Super Fund (Asset)
      Hopefully the above example does not scare anyone off. it is merely an example of a typical split.

      I would welcome yours and anyone else involvement as a volunteer - there is so much still to be done.
      Perhaps it is best that you contact me using the contact form on my website.
      I am not sure if I am allowed to hand out my contact details in this forum.

  • Ryanek on 04/03/2016 - 13:14

    Hi nice work. It would be great if you could add screenshots to your website. I'm curious, can I ask which language you used to write the app?

    • AssociatedJefflas @ dblmoney.com on 04/03/2016 - 13:57
      +1

      Thanks for your compliment and suggestion.

      I have a 100 page plus user guide full of screen shots and instructions.
      The software also comes with a demo set of accounts called Jack and Lily Smith, with which you can play around.

      I am trying to put together a series of video, that I think is more meaningful then a plain screen shot.
      However as this may take some time, I will consider putting up some screen shots in the short term.

    • AssociatedJefflas @ dblmoney.com on 04/03/2016 - 14:35

      The program is written in vb.net Express 2013

  • spersephone on 04/03/2016 - 13:54

    I'm a little concerned with being asked to download a program without any screenshots or videos explaining and showing what it looks like, and what it does. What format is the file? Is it for Windows or Mac? Or Linux? What is your privacy policy? Who owns this program?

    I'm certainly interested in a good personal finance application, but there is nothing here to make it clear to me whether I should trust it or whether it would do what I want it to.

    • AssociatedJefflas @ dblmoney.com on 04/03/2016 - 14:30
      +1

      Let me address your concerns.

      This is a Windows program written using vb.net.
      The data is stored in an Access database.
      I wrote and own the program.

      There is a very short privacy statement on the download file page.
      All I am collecting is an email address so that I can keep users informed about program updates (frequent - refer to change log) and bugs (hopefully few and far in between).

      When it comes to trust, I spent some time trying to get a code certificate for the program.
      I have given up with this endeavour for the time being as:
      a) The certificate installation instructions were difficult to follow.
      b) There was some compatibility issues with the issued certificate and the web browser I used to obtain the certificate.
      c) I would have start from scratch to re-install the certificate on my computer - last time it took me about 5 hours only to fail in the end.
      d) The certificate costs about $120.00 a year.
      e) In my experience most downloaded programs not certified
      f) The certificate does not disable Microsoft's smartscan which may still issue a warning scaring off potential users.
      g) Today is the first public launch of the program and you are the first person to raise this concern.
      Please note the failure to install the certificate had nothing to do with the program.
      I would suggest as far as trust is concerned save (don't run) the downloaded program. Then test the down loaded program using your virus software.

      When it comes to will it do what you want it to do:
      I have a 100 page plus user guide full of screen shots and instructions.

      The software also comes with a demo set of accounts called Jack and Lily Smith, with which you can play around.

      I am trying to put together a series of video, that I think is more meaningful then a plain screen shot.
      However as this may take some time, I will consider putting up some screen shots in the short term.

      • spersephone on 05/03/2016 - 18:00

        Ok, so it won't work on Mac? I've used Microsoft Money, Quicken Personal, MoneyWiz and a few other programs. My absolute favourite was Microsoft Money, but I've moved on from Windows and don't want to run a VirtualBox for that program only, which is also very outdated as they chose not to continue it.

  • burningrage on 04/03/2016 - 14:26
    +1

    +1 For the Initiative.

    • AssociatedJefflas @ dblmoney.com on 04/03/2016 - 14:35

      Thanks for the encouragement

  • CyberMurning on 04/03/2016 - 15:05

    just checking pocketbook:

    "Pocketbook automatically pulls information from your bank accounts, credit cards and other financial institutions to give you a single view of your spending. "

    automatically means they know our username and password?

    • AssociatedJefflas @ dblmoney.com on 04/03/2016 - 15:24

      That's correct - you give them your username and password.

  • Evil-Elmo on 04/03/2016 - 17:01
    +1

    Sound interesting… I've been looking for software like this recently and will give it a go.

    I considered Pocketbook but it doesn't support 28 degrees. I liked the look of Pocketsmith but it's too expensive. I don't mind manual importing as long as the processing after that isn't too involved so I'll be interested to see what this is like :)

    • CyberMurning on 04/03/2016 - 17:13

      what? i have 28 degrees as well. and also coles master cc. i think both using the same provider (GE money) so maybe not supported. well then i need to try OP apps instead

  • AssociatedJefflas @ dblmoney.com on 04/03/2016 - 17:31
    +1

    DBLMoney should support any downloaded CSV file.

    If you have problems with the setup send me a copy of the file.

    I need to see all lines before the first transaction.
    I also need to see what a 1 receipt and 1 payment line looks like.
    Delete all the other lines in the file.
    Replace all bank account names and number with a ?
    Change $ amounts to $99.99 but retain the - and + signs.
    Do not change the date format.
    The above changes will ensure your data confidentiality is not compromised.

  • [Deactivated] on 05/03/2016 - 21:50

    How much does the public liability insurance cost for an application like this?

    • AssociatedJefflas @ dblmoney.com on 06/03/2016 - 05:26

      Why the strange question?
      Are you a friend looking to sell me insurance or a foe looking to sue me

      • [Deactivated] on 06/03/2016 - 08:39

        I have nothing to sell you. It's basic due diligence, nay common sense, to ensure any crowd operating in the sensitive personal financial space has the prudential sense to cover and warrant potential consequential losses. Frankly, any person risking their retirement to the first lawsuit is making a financially iffy choice themself. It's a particularly litigious area you are entering and flying by night is not a wise option. Users should know the financial footing of the software they rely on. Anyone who uses anonymous software from an uninsured random internet source probably gets the financial outcome they deserve. You seem evasive and defensive in a basic and reasonable question. There is a big difference in writing software for yourself versus for the public and the main difference is legal responsibility. You seem to have no explanation or plan other than feigned, mock shock.

        Has your software been security rated by any third party tester?

        • AssociatedJefflas @ dblmoney.com on 06/03/2016 - 09:10

          Sorry that I came across as evasive and defensive, but I did not know where you were coming from.

          I truly appreciate your advice and will be taking appropriate action - thank you.

          As to how I am currently protected against this risk, what additional future protection I intend to implement and what it costs, I think you will agree is a private matter and not for discussion in this open forum

  • AssociatedJefflas @ dblmoney.com on 06/03/2016 - 12:02

    I have updated the DBLMoney website to include some screenshots.
    This is in response to several requests I received on this forum.

    Thank you to all of you for what I believe was an excellent suggestion.

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