Do you have a hard time keeping track of your household's finances? Let's face it, balancing checkbooks and planning budgets are not the easiest tasks to do in the world. For many people, personal accounting is such a daunting thing to do.
Fortunately, managing your money is easier nowadays. Thanks to the personal computer and software, there are numerous tools that can help you do this daunting task. And for a regular-sized household, a simple and easy to use tool should be enough.
One such tool is HomeBank. HomeBank is a personal accounting program with budgeting, planning and reporting tools to track where exactly your money is going and coming from.
It's not exactly as robust as professional accounting, but for personal uses, it's more than enough. Think of it as a user-friendly bookkeeping tool or a ledger to keep track of all your income and expenses in one place.
You can set up an unlimited number of accounts in HomeBank and the process is straightforward. You can choose between bank, cash, asset, credit card or liability type of accounts for tracking income or expense activity.
You can also set up different types of expense payees ranging from hobbies, clothing, entertainment, etc. and even program it for scheduled payments like mortgage payments or utility bills.
Once everything is setup according to your personal finances, HomeBank allows you to generate reports, charts and graphs for visual representations of your financial activity - (very handy for justifying that 4K TV you've been eyeing. Hey, the chart says we can afford it!)