Before i begin to talk about the product, talk about its pros and cons, i would like to draw your attention to different types of accounting software. Accounting software are found for small business, small-medium business to big organization. But why you should you use an accounting software even if you have extensive knowledge about accounting. It is because accounting software come up with a lots of benefits. These benefits include increased efficiency, ability to track, analyze and improve the financial health of your business, and the opportunity to add different types of services.

Most of the accounting softwares from Microsoft are easy to use and implement. Though Microsoft Money is not that easy to use compared to other Microsoft softwares, it is still a good accounting software. Microsoft Money is divided in to nine different categories. These are Home, Business, Banking, Bills, Reports, Budget, Planning, Investment and Taxes.

Though Microsoft Money by including sections such as investing, planning and budgeting goes beyond the typical small business accounting software, it is used both in the small business and medium business. The pros and cons of Microsoft Money are discussed below.

As i have stated earlier, this software is not that easy to use if you compare it with other accounting software. As different individual section is not clearly labeled, to find the features you want, you need to search around the program. The software should have label the categories with clear icons such as Inventory, Accounts Receivable, Payroll, and Job Costing. However, you can easily find the Banking, Bills and Reporting Sections.

This software program has an excellent Help Section. It comes equipped with a search tool and an question mark icon to find the relevant sections quickly.

In case of the both Accounts Receivable and Accounts Payable section, you would not be satisfied with the service. Both these two sections are substandard. In case of accounts receivable, you can make and mail invoices, but you can not customize them. In case of accounts payable, this section will allow you to make quotas and purchase orders, but you have to go under the vendor or the customer lists to do so.    

Another unfortunate thing with the Microsoft Money is that you have to buy the Payroll separately. Also the Inventory section is very difficult to locate.

But the Banking section is very useful. You can manage all your personal accounts with using the software along with all your business assets and invoices. With this software, you can add new accounts, sort account lists and change account details.

The program however lacks a job costing section and a general ledger section. The fixed assets section is only a reporting system for assets and liabilities.

In fact, even taking in to account the things this software lacks,  Microsoft Money is still a good accounting software offering accounting features along with the small business features. If you want a accounting software that have both these two features, it is a perfect software for you.