Well, it's that time of year kids -- the annual Quicken vs. Money playoff. The "2001" editions are out.
It comes annually since the two rivals share nothing with each other and try to protect their competitive position by changing their file formats every year. If you had Money 2000, it would convert Quicken 1999 files, but not Quicken 2000's. So as a practical matter one does not switch programs until the new versions and converters arrive.
I have never warmed to Money, but it was widely agreed that Money 2000 finally closed the gap, and possibly surpassed, Quicken thanks to Money's more integrated construction -- a far cry from past versions -- and Internet capabilities. Quicken 2000 seemed very much thrown together randomly, with pieces that didn't seem to fit. Moreover, Intuit's customer service was going downhill.
This time, Quicken has gotten its act together. 2001 not only has a tidier interface, but runs faster and downloads information more efficiently. A big plus, and given the aggravation associated with moving from one finance software format to another, there is little to motivate a Quicken user to switch.
Money, however, continues to have an edge as a personal finance solution -- one that not only keeps your records but also keeps you on top of business and financial news.
Of course, some people don't want to have their personal finances Internet-enabled and the features added to both programs in the last three years are a total waste. But we are moving to a new economy and the harsh reality is that financial institutions are not keeping up with the technology.
The truth is that both Quicken and Money are perfectly capable of serving as your "My Financial Services, Co., Inc." But the financial services companies tie the program's hands. Either one can download your investment positions from most major brokerage firms, but the firms insist that you use their own Web sites to trade. Similarly, banks actually have retreated from support for Quicken and Money in favor of proprietary Web sites.
I find it especially aggravating to know that both my bank and Quicken do electronic bill payment through CheckFree, but I can't execute my instructions from Quicken directly to my bank. How dumb is it that you have to enter the payment to the electric company on the Web site, then do so again in Quicken?
This is one thing you definitely can't blame on the tech industry.
Quicken 2001 Deluxe http://www.thenakedpc.com/t/320/tr.cgi?alquicken
Microsoft Money 2001 Deluxe http://www.thenakedpc.com/t/320/tr.cgi?almoney
