Aug 242008

KMyMoney is the Personal Finance Manager for KDE. It operates similar to MS-Money, supports different account types, categorisation of expenses and incomes, reconciliation of bank accounts and QIF import/export. KMyMoney intends to provide all important features found in the commercially-available, personal finance managers. The current release is closer than ever to that goal and more improvements are already planned or being tested. KMyMoney strives to be the easiest open source personal finance manager to use, especially for the non-technical user. Using time tested double entry accounting principles, KMyMoney ensures that your finances are kept in correct order.

Some of the highlighting features in this current release include

Charts. Many of the reports produced by KMyMoney may now be displayed in chart form. Line, bar, stacked bar, pie & ring charts are supported where appropriate.

Budgets. A new budget feature allows you to specify your future expectations of income and expenditure, and then to compare your actual performance against these. You can use your historical data to have KMyMoney create a basic budget for you. Budget reports can be displayed as charts if desired. Monthly budget overruns can be displayed on your home page, but can be removed if you find it too depressing.

Forecasts. A forecast can be produced of the future balances of your critical accounts, based either on regular scheduled transactions or your historical data. (Sadly, we are unable to accurately predict the future value of your investments!). Forecast charts based
on historical data are under development.

Install KMyMoney

To install KMyMoney on your openSUSE, click the 1-click install for KMymoney installer (YaST MetaPackages) which can be used on openSUSE 11.0, openSUSE 10.3, openSUSE 10.2, SuSE 10.1 & SuSe10.0. This will automatically download the YMP file and launch YaST Package Manager.

KMyMoney package selection Installation summary

Software installation complete

Click Next in the page showing the KMyMoney install package details and then click Next on the page showing summary and the repositories that will be added. This will start adding the required repositories and start installing the KMyMoney package and the required dependencies. Click Finish when the installation completes.

Once installed, you can find KmyMoney as “Personal Finance Manager” under “Applications – Office”

Personal Finance Manager in menu

Start KMyMoney from here. This will start a wizard for the first time and run you through the process of setup up accounts.

Welcome to KMyMoney wizard Personal details

Click Next in the Welcome page and enter your Personal Details in the Personal Data screen.

In the next screen, select the currency

Select Currency

In the next screen enter your Banking details and set the account type in the screen that follows

Enter Account details Select Account Type

Set preferences your personal preferences in the next screen by clicking the “Configure Preferences now
Edit preferences Preferences window
Finally select the file location and click Finish.

Set location for the settings file to save

This launches your Personal Finance Manager for a start. From here on you can more of the details like additional accounts, Assets, liabilities, investments etc and can run reports generate graphs, charts and more. A certain great opensource tool and a good alternative to commercial expensive systems like Ms Money.

Personal Finance Manager home

The future release is been considered to have database integration rather than a file for greater reliability and performance. Visit the homepage for KMyMoney here