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In some instances, if you are a sole proprieter or small business owner linked to your business, you may want to consider getting a software package for your personal finances that works in conjunction with your small business software.
For instance, Blythco recommends using their small business application for personal accounting software. The difference between MAS 90 and MAS 200, and the MAS Small Business software is that the small business version is designed to cater to businesses that have no employees - an ideal solution for a one person company who needs to combine their personal and business finances.
Personal accounting is as simple as keeping track of your household expenses. A typical household often has several bank accounts, a home loan account, a couple of car loans, two credit card accounts, a cash account, an insurance account, superannuation accounts, and maybe a shares investment account.
How do you keep track of all of these? Most people don't, with any degree of efficiency or effectiveness. But for a small business owner, personal accounting might be particlarly important to understand.
If you can't keep your personal accounts in order, it stands to reason, your business is a huge risk factor. Taking control of your personal accounting with personal accounting software that monitors your expenditure and keeps you aware of the state of your various accounts, could become the difference between success and failure in your business.
There are many features to consider when you are ready to think about choosing personal accounting software.
For personal accounting this means:
* Monitoring your bank account balances
* Investment funds
* Payment plans
Simply using software to monitor your accounts cuts time you have to spend trawling through the information.
Free personal accounting programs are software programs available on demo CDs and downloadable from the internet. These free demo of accounting software programs such as MAS Products, Quicken and others offer the most basic accounting features while holding back the full version of the software.
These free accounting programs often allow you to do the most basic maintenance of your accounts, such as monitoring the balance of bank accounts, loans, payment plans, etc.
Choosing personal accounting freeware is no more complicated than going to your local Target and buying Quicken off the shelf. Freeware is free software available on the internet that is designed to help you maintain your household accounts (personal bank accounts, loans, investment funds, insurance, etc).
These software products are not going to be as feature rich as some of the branded accounting software options, but they have one fine feature - they are free! Freeware is software that is offered at no cost or for a nominal voluntary fee.
If you are interested in looking at freeware, make sure it has the basic functionality you need (single entry, double entry etc.) and that it has sufficient security to protect your personal information.
|Jennifer Mathes, Ph.D.|