CommonCents 3.0 – Not Your Grandmother’s Envelope Budget System

by News Guy on April 16, 2010

New version of CommonCents budgeting and personal finance software employs modern technology without sacrificing the financial control and accountability of the time-tested envelope method of budgeting.

Lewes, DE (PRWEB) April 6, 2010 — enDevelopment LLC has released CommonCents 3.0, the latest version of its budgeting and personal finance software, based on the envelope system of budgeting. This newest version retains the easy-to-use layout of previous versions that gives users a complete financial picture on one screen, but adds enhanced functionality and better data reporting and management tools.

CommonCents is based on the envelope budget system, which assigns income and expenses to specific budget categories. Traditional envelope budgeting works with cash divided into paper envelopes, and when the money in an envelope is gone, spending in that category stops. The envelope budget system has been around since at least the Great Depression and has been recommended in recent years by financial gurus such as Dave Ramsey.

While a cash-only budget is an effective way to control spending, it does have limitations. CommonCents software improves on the traditional paper envelope system by providing users with a written history of all income and expenditures with real-time account and envelope balances. It also gives users the ability to manage all financial accounts–checking, savings, investments, credit cards, mortgage or other loans, and even cash. Users can also track multiple sources of income, including routine amounts, irregular amounts, or one-time deposits, and allocate that income to envelope categories.

CommonCents is as flexible as a spreadsheet, but simple enough that most people can get started quickly. The software comes installed with a default list of budget envelopes and account types that can be edited as needed. The user-friendly main screen includes a familiar checkbook-style register to record income and expenses, a panel showing all financial accounts with current balances, and a list of envelopes with current balances. Envelope and account balances update automatically with each transaction recorded.

Video tutorials at the CommonCents website guide users step-by-step through some of the most popular features, and support is a mouse-click away if it’s ever needed.

Powerful, time-saving features of CommonCents include the ability to automatically distribute income to envelope categories using fixed amounts or percentages, speed data entry by importing and editing information from financial institutions, split transactions into two or more envelopes, transfer money from one envelope to another, reconcile accounts, and archive and backup data. As a Windows desktop application, CommonCents allows you to control imports from your financial institution and keep all of your data private.

New in CommonCents 3.0:

— Set goals and track progress
— Set reminders and notifications
— Automate recurring transactions (set automated transaction triggers)
— Sort transactions by date, payee, envelope name, or amount and back again with one click
— Tag transactions for easier retrieval in the future
— Attach multiple documents to transactions
— Visualize financial information with custom pie or bar graphs and improved text reports
— Speed data entry with better importing from financial institutions
— Archive and restore old transactions for easy data management
— Export files to the most common file types, including CSV, TXT, and QFX

CommonCents 3.0 is available for $34.95 online at www.CommonCentsSoftware.com via a free 60-day no-risk trial. There are no recurring charges, and CommonCents is not advertiser-supported so you won’t be subject to endless sales pitches. Purchase it once and enjoy the continued benefits of simple but powerful money management.

If you’d like more information on how CommonCents software works, view the Introduction to CommonCents video at:  http://www.youtube.com/watch?v=oiYwqySmi_4

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