Microsoft Money: suddenly canceled after 18 years

Microsoft Money: suddenly canceled after 18 years
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Microsoft abruptly announced Wednesday it would stop selling its highly regarded personal finance software, Microsoft Money at the end of the month.

Since 1991, Microsoft Money has been the one significant competitor with Intuit's Quicken software. Quicken and Money gave computer users an easy way to ditch pencil and paper to balance their checkbooks and track their stock portfolios. The online banking segment of the software industry was so promising at one point, Microsoft attempted to buy Intuit in a 1995 deal that was scuttled by antitrust regulators.

Microsoft spokesman Adam Sohn said changing customer patterns and greater functionality of bank and brokerage Web sites drove the decision. Money will be completely functional until January 2011. After that time, all the data currently downloaded automatically including stock quotes and banks statements will cease. After that time the software will still function, but users will need to enter many data, including stock prices, by hand. Microsoft made the decision so it can focus the company's resources on other business opportunities, Sohn says.

Understanding that some early Microsoft Money users have more than 15 years of financial data stored in the product, Sohn said Microsoft is working on ways to help users transition to other desktop products if they choose.

“We’re working with Intuit to help develop a file conversion process that will help Money customers more easily convert their existing data files to Quicken," he said. "Both Intuit and Microsoft hope this will be ready to go for the new release of Quicken this fall.”

Quicken's existing converter can only transfer 10,000 transactions from Money, which is a fraction of the transactions a long-time Money user would have. "We're making it a priority to assess what we can do to make more Money data available and seamless to transfer," says Intuit spokesman Scott Gulbransen.

Gulbransen says that while Intuit offers an online version of Quicken, the company is committed to providing a version of the software that runs on Windows for the foreseeable future. Intuit has produced Quicken for Windows for more than 25 years. "There's nothing more important for people than managing their money," he says. "Quicken and Intuit are committed to continue to sell and support desktop


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