Liquid Ledger 2 Review

Liquid Ledger 2.0.4 is a good personal finance program with a simple, uncluttered interface that helps you track your income and expenses. It allows you to import transactions downloaded from banking institutions, gives you a good graphical summary of your financial status, and is capable of handling multiple currencies.

But the program fails to make data entry as easy or obvious as it should be, especially when it comes to basic features such as adding categories. It also lacks the kind of detailed reporting tools found in similar personal finance programs like Quicken or Moneydance.

Setting up a new file in Liquid Ledger is easy. You can create a blank file with a default set of accounts and categories, or you can import a data file that you’ve downloaded from your bank. Liquid Ledger can import Quicken Interchange Format (QIF), Open Financial Exchange (OFX), and comma- or tab-delimited text. In our test, it imported QIF files with ease. But when we attempted to import text files in comma-seperated (CSV) format, the program didn’t work. Also, when we entered new transactions manually the program didn’t work the way we had expected. It defaults to a batch entry mode. Press the Return key to complete a transaction, and it creates a new transaction line instead of saving the entry. The same was true when tabbing through all the fields. It is possible to turn this option off, however.

With version 2, Liquid Ledger includes an Accounts window, from which you can view and access all your account information. When you open the program, it displays listings for all your banking and credit accounts. You can view income and expenses, amounts you have in your bank accounts, or how much you’ve spent in each of your expense categories.

Like Quicken, Liquid Ledger ships with a basic set of transaction categories, such as groceries, rent, and petrol. If you choose to create a new account using a file you’ve downloaded from your bank, you’ll need to create all of the categories yourself, as Liquid Ledger doesn’t include a default set of categories for imported accounts. The better alternative is to create a blank account, which does include a set of default categories.

OUR VERDICT

Liquid Ledger 2.0.4’s simplicity makes it appealing as a personal financial application. But those accustomed to more mature programs may be left cold by its limited reporting tools and the way the program handles the entry of new transactions.

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