Money for iPad Review

Money is not a newcomer to the financial app world. As a matter of fact, it has been around for over a year as an iPhone app. It has ranked as the #1 Finance app in over 20 countries and claims to have over 200,000 users worldwide. The developer, iBear LLC, has a reputation for creating visually-striking and intuitive finance apps (such as Bills and Budget for iPad) which utilize the device’s additional screen real estate--so it’s no surprise that Money for iPad is yet another success.

Ultimately, Money's all about reducing financial work, improving organization, and saving you money, which it does in three basic ways. The app's Transactions view is a bill-minder that allows you to track manual, planned, or automatic transactions. The Balance view allows you to view a balance of all your combined assets, so you see the “big picture” of where your funds are going. The Budget view allows you to plot your budgeted expenses against your actual expenses according to various charting styles.

What sets this app apart is its ability to incorporate funds from various accounts (cleverly referred to as “wallets”), including assets, property, stocks (which can be translated to their monetary equivalents) and debts. If you’re a frequent traveler, you’ll appreciate the auto-update of exchange rates and the ability to input and convert funds in any currency--making the management of your finances while abroad a less cumbersome task.

Already use Money on your iPhone or iPod touch? The “sync” option will allow you to synchronize your data between devices. Happen to be a Mobile Me user? You can backup your data to your iDisk. If neither of those options apply to you, there’s also the option to backup to an HTTP Server. If security is your greatest concern, you’re able to set up a PIN to restrict unauthorized access to your data. Just be careful not to forget that PIN since passwords are not retrievable.

Initially, I found the app to be slightly confusing as a first-time user. Though I was aware of some of the more advanced features, I was unsure where to find them. Luckily, the developer provides documentation and support via forums, a blog, and a Twitter contact if you need your pressing questions answered directly. Within moments, I was able to find the information I needed to use the app to its fullest. Major kudos for that! Also, it is evident that the developer has made a commitment to supporting this app and providing new updates and releases whenever necessary.

I also found the “Reports” tab to useful -- allowing you to filter reports and generate them in formats that are can be exported to other programs such as Excel (.csv) and Quicken (.qif) quickly through a Wi-Fi connection or via email.

Overall, Money is a powerful mobile financial management tool that puts various useful charts and reports right at your fingertips. Unfortunately, the app does not allow you to import files other than OFX, which are typically obtained through a banking institution, so it may not be a solution for all users. It's also a bit on the pricey side. But as a stand-alone solution for your mobile financial needs, you’ll find Money to be (as its name suggests) pretty “money”!