Money 98 Financial Suite

These facilities just about make it possible to run a business on Money 98, but this isn't the program's prime purpose. There are packages specifically designed for business use, and even if you have to fork out an extra few pounds for something as basic as Sage Instant, you'll still find the facilities more applicable to a trading situation.

Managing your money

For personal use, Money 98 is simple to use and something of a bargain, particularly when you start adding up the extra bits that go to make up the Financial Suite.

With self-assessment judgement day in mind, the Tax estimator can be used to estimate how much you might owe in taxes for the current year or, say, the last completed tax year. You enter your income, deductions and adjustments as usual, and Money estimates the likely tax bill for you. If the government changes the tax rates, you can manually change these tables to fit.

Using Money's built-in categories, the software will already know which area of the tax return your various incomes and expenses relate to, and you can then use Tax Estimator to get an estimate of your likely liability. At the end of the financial year a report can be exported to either TaxCalc or SmartTax, and that software will then complete the return for you. Microsoft advises you to consult your accountant before submitting the form. This is extremely wise.

Goal Planner takes the task of planning your various financial objectives, which could be as simple as saving for school fees, or perhaps paying off that long-term debt. Budgets can be set against goals, and Money will keep an eye on your regular accounts activity and adjust the goal accordingly for an unexpected pay rise or extra cost, for example.

Money 98 handles your basic financial ins and outs with some aplomb. The on-line facilities and Web links make it a very attractive proposition for those connected to the Internet, and the innovative user interface is obviously the way things are going to look from now on.

The reports and visual representations of your financial data fall short of Quicken's many and varied offerings, but instead Microsoft has opted for comprehensive and easily accessible personal finance functions, with a strong on-line initiative.

There's no doubt that on-line banking and the Internet will play a major role in both personal and business finance before too long, particularly once people realise that the risks involved are similar to using your debit card at the local cashpoint machine.

Microsoft Money 98 uses an innovative interface which we'll be seeing much more of in the future, and makes complete sense if you want to get connected - it's just a matter of persuading your bank.

Author: Tim Woodward