As cyber-accountants and virtual financial experts, there's not much that the latest personal finance programs can't do. Money 2004 Deluxe, Microsoft's latest annual offering, maintains everything that was good in the last version, and adds some incremental improvements. Just as in the past few years, there are no new "must haves," but the program's continuing strengths include excellent planning tools, strong setup tools and great Web features and integration.

As before, Money does a great job of managing and balancing checkbooks, monitoring investments, creating and tracking budgets, and developing financial plans. To help first time users, Money offers a first-rate setup that asks questions about finances and priorities-a strength. Also, the program does an excellent job of making difficult financial topics approachable by asking key questions, and then letting uses experiment with different scenarios. This is where Microsoft truly shows us the money.

software - Microsoft Money 2004 Deluxe

The interface, which resembles a Web site, looks much like that in last year's version. It's intuitive and easy to use and does a good job of organizing features and tools into logical categories. Money has enhanced its first rate interface with a drop-down menu that makes it easier to find a particular financial activity, and it now backs-up data to CDs.

Money definitely takes advantage of the internet and offers free services that include two years of online bill paying via MSN, tax filing through H&R Block, a single credit report and a year of credit monitoring through Experian, and consultation with an American Express financial planner. All are worthy services.

The program's main home page serves up-to-date financial news that's pulled from sources such as Briefing.com, CNBC, Forbes, MSNBC, Reuters and more. A stronger alert system notifies you via e-mail of spending or investing targets, analyst upgrades and downgrades and noteworthy news.

The new Credit Center provides credit and debt-related information, and tools and advice that provide an overview of one's credit standing and risk level ranking. A Cost of Purchase Calculator helps determine the cost of credit card purchases or loans. And a new Mini-Debt Reduction Planner helps manage and eliminate high-interest debt by creating and comparing different payment scenarios. While much of the information offered by these new features could have been estimated with tools in past versions of Money, the dedicated calculators makes better sense of the subjects.

Microsoft Money 2004 Deluxe is an impressive program. But those who own prior versions from the past couple of years will likely find little to justify an upgrade. And if you've never experienced the power of a personal finance manager to help manage your checkbook, budget and life, Microsoft Money offers the competent goods.

8/28/03 www.daytrum.com Editorial Staff