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Quicken Premier software

Posted: Tue Feb 16, 2010 11:29 pm
by simplecd
is anybody using it for organizing and analysis of the investments? just got it and trying to learn if it's useful at all...

Posted: Wed Feb 17, 2010 8:31 am
by In The Weeds
I've been using Quicken Deluxe 17 years for everyday bookkeeping. (I enter data instead of downloading it.) As for investment analysis purposes, I suppose it depends on what you want from it. For tracking cost basis and end of day values it is fine.

edit - I guess I should clarify that a bit. I enter transaction data but do download quotes.

Posted: Wed Feb 17, 2010 8:48 am
by jwkde
I've been using Quicken Premier for ages and maintain all my investments in there. I do a download everyday for transactions and to update current prices. Less than 5 minutes a day normally.

While Quicken's performance calculations are suspect and I do not use that, i find it is very helpful for managing and taxes.

Posted: Wed Feb 17, 2010 9:47 am
by caklim00
Quicken blows. It can't acess two of my accounts, which makes it very difficult to use. Ane online service (mint, yoddle, etc.) can access my accounts fine.

Posted: Wed Feb 17, 2010 8:34 pm
by CTBob
I've used Quicken for years, for investments and for keeping track of expenses. I've never set it up to download from my accounts because I don't have that many transactions so it's fairly easy to do the entries manually from the account statements. I'd prefer if it had more flexibility in asset allocation but that's about my only gripe.

Posted: Wed Feb 17, 2010 8:38 pm
by RoccoPacco
I've used Quicken Deluxe for about two years now. Do you find the added benefits in Quicken Premier to be worth the additional cost? Thx.

Posted: Wed Feb 17, 2010 8:52 pm
by Toons
I have been using Quicken Since 1993 and have tracked EVERY investment transaction with it.(Mutual funds,stocks,bonds,,dividend reinvestments,etc,,)It has been and still is invaluable.,I can make intelligent decisions concerning,buys sells,asset allocation etc.capital gains losses.I highly recommend using it :D

Posted: Wed Feb 17, 2010 10:36 pm
by CTBob
Rocco
I think Quicken Deluxe only tracks spending so it would only do 1/2 the job for me. Premier adds investment tracking.

I bought Premier from Costco in January for $50 which is less than Quicken charges for Deluxe. (by the way, it took only a few seconds to find this in Quicken). At one point Quicken had a 1/2 price sale which would have been even cheaper, but I missed that.

Quicken-er

Posted: Thu Feb 18, 2010 8:30 am
by djmbob
I have used Quicken for many years... works great for me.

I buy Deluxe because I am not as interested in tracking investment prices daily.. I usually just update them when posting monthly or quarterly dividends.

I just bought 2010 Deluxe thru Costco online this past Monday...on its way to me now. Was $39.99 with $20.00 off on checkout (no rebate mess) so got it for $19.99... (plus $4.37 in tax and shipping).

Not bad since my Quicken has its default pop up window each time I start Quicken to get it through them at a $20.00 discount for "only" $39.99!

You need to get the update every 3 years or you wont be able to download transactions after April 15th.

Cheers,
Ray

Posted: Thu Feb 18, 2010 9:39 am
by smackfu
It does the job. It has some decent asset allocation stuff too, as long as you make sure all the asset classes of your holdings are correct.

One thing is that I wish it had better investment statement reconciliation. It really just lets you update your holdings to what was on your statement and create dummy transactions for the difference, which is Not Acceptable to me. I assume it's because that list of holdings was all you got from your broker in the past. I don't like correcting errors with junk data though. I prefer checking-style reconciliation where you select each transaction until it balances.

The practical effect of this is that my accounts tend to get slightly out of sync, and that makes the data useless for tax purposes.

Posted: Thu Feb 18, 2010 10:21 am
by auspac
Does anyone use Quicken for the Mac? I've read some poor reviews on it.

Posted: Thu Feb 18, 2010 11:00 am
by Tom_T
Intuit is very misleading on their Web page which compares Quicken versions. Next to "Manage investments and plan for taxes", you see a check mark under Premier, but not under Deluxe. In fact, if you click on Deluxe to see its features, there's no mention of investments. So, you might think that Deluxe doesn't handle investments -- and you'd be wrong.

I have Deluxe 2009:

I can enter or download all of my investment transactions.
I can see the market value, cost basis, gain/loss.
I can see recent and historical performance.
Stock and fund closing prices are downloaded when I run the Update function.
I can estimate capital gains.
I can view my asset allocation.
I can track changes in my net worth.

Posted: Thu Feb 18, 2010 3:25 pm
by Doc
smackfu wrote: I prefer checking-style reconciliation where you select each transaction until it balances.
On the menu bar: Investing->Investing Activites->Reconcile an Account

Isn't this what you are looking for?

Posted: Thu Feb 18, 2010 3:44 pm
by smackfu
Doc wrote:On the menu bar: Investing->Investing Activites->Reconcile an Account

Isn't this what you are looking for?
Ah, that's close. Funny thing is that all the amounts are $0 in that window, because I use BuyX and DivX. Since that's a transfer and buy in one line, the cash never hits the account.

Oh well.

Posted: Thu Feb 18, 2010 4:20 pm
by Doc
smackfu wrote:
Doc wrote:On the menu bar: Investing->Investing Activites->Reconcile an Account

Isn't this what you are looking for?
Ah, that's close. Funny thing is that all the amounts are $0 in that window, because I use BuyX and DivX. Since that's a transfer and buy in one line, the cash never hits the account.

Oh well.
Zero is just a number like $999,998.34 or $0.33. The balancing is the same. (Zero does make it easier to find mistakes though. :) ) If you use Vanguard Brokerage Service and don't reinvest dividends in the same security, you get a lot of non-zero transactions.

On further consideration, trasactions with a zero cash amount may be a bad thing from a balancing viewpoint. If you do have an error (duplicate or missing transactions) you may never find it.

Re: Quicken Premier software

Posted: Tue Feb 23, 2010 3:54 am
by Ducks
simplecd wrote:is anybody using it for organizing and analysis of the investments? just got it and trying to learn if it's useful at all...
I think Quicken's investment organization/analysis leaves a lot to be desired. It doesn't break down asset classes very well, so I do not use it for rebalancing -- I use Excel for that. It's also unclear how the performance tracking works. There are a lot of "placeholder" entries that I don't really understand. I have to manually update Hubs' 401k every quarter because it won't download from that particular institution. Etc. and so on.

HOWEVER ... for keeping track of the bottom line (are my investments growing/shrinking; what is the market value of each of my holdings), it's fine.

Posted: Fri Feb 26, 2010 9:32 pm
by joshnluv
Hi Bogleheads,
Just bought and installed Quicken Premier. The main reason I didn't want to use mint.com was because it asked me to handover my username/password and I was worried about security on their servers. But, Quicken premier also asks for the same kind of access. Is there a way to manually download statements from various accounts and add to Quicken? Or if I decide to go the manual way, do I have to literally type in each and every transaction in every account(which negates the very purpose of buying this software anyway)?

Thanks!

Posted: Fri Feb 26, 2010 10:04 pm
by LadyGeek
You can always login to your online account and download the Quicken data for your account: Tell me about downloading data from a financial institution into Quicken

BTW, Quicken owns Mint.com. Looking Ahead: What's Next for Quicken

Quicken stores your password info locally, so I'm not sure what you are worried about. Everything is encrypted.

Your Quicken file needs to be encrypted as well (set a password so that it asks for a password when you open the file).

Posted: Fri Feb 26, 2010 11:48 pm
by joshnluv
LadyGeek wrote:You can always login to your online account and download the Quicken data for your account: Tell me about downloading data from a financial institution into Quicken

BTW, Quicken owns Mint.com. Looking Ahead: What's Next for Quicken

Quicken stores your password info locally, so I'm not sure what you are worried about. Everything is encrypted.

Your Quicken file needs to be encrypted as well (set a password so that it asks for a password when you open the file).
Thanks for the link Ladygeek. My main worry was that Quicken was probably storing my username/password on its servers because I saw a popup say Quicken uses state-of-the-art encryption & firewall protection. This probably referred to how it transfers the info to my financial institution during updates. If it's storing locally then that's what I wanted.

Currently I am unable to find my bank in its list of banks & the statement I download from my bank seems to disappear into a black hole! But, that's another story which I'll try to sort out myself :)

Posted: Sat Feb 27, 2010 12:43 am
by tetractys
auspac wrote:Does anyone use Quicken for the Mac? I've read some poor reviews on it.
Yes. From the sound of this thread, I think it's comparable to Quicken Premier. -- Tet

Quicken Premier software

Posted: Sat Feb 27, 2010 2:55 pm
by Kuckie
I have been using Quicken Premier since 1995 and it is decent. Besides it is now the only Financial Software out there. I have had problems with the 2010 version, although the bugs have probably been corrected since it was released back in October 2009. My version crashed intermittently and often would not download financial data from Bank or Mutual Fund accounts. One good thing, if you do not like the 2010 version you can return it to Intuit for a full refund (rare for software companies) I returned mine, received a refund, and reverted to the 2009 version which works fine.

As far as an overall snapshot of investments are concerned I find that an Excel spreadsheet works better as you can refine it to provide the information that you desire. Quicken is excellent at downloading and tracking individual transactions, providing more details then you will ever need, but is not as good at providing customized charts and data detailing Asset allocations. Quicken allows only limited customization with their charts and reports

If you do a lot of investment transactions, use Quicken, but if not, and you just want to look at an overall picture and monitor Asset allocation, than a spreadsheet is better. (I use both.) Quicken does an excellent job with normal bank transactions. If you are a Vanguard client and have the majority of investments with them, you can simply use their Portfolio Watch Analyzer which also allows you to add outside investments.

Bottom Line: Quicken is worth the price if you wish to record and track individual transactions over a range of accounts. (It interfaces with Vanguard, among others, and will download all account transactions). It has some reporting and charting limitations which most people can live with.

Posted: Mon Mar 01, 2010 7:14 pm
by Ducks
tetractys wrote:
auspac wrote:Does anyone use Quicken for the Mac? I've read some poor reviews on it.
Yes. From the sound of this thread, I think it's comparable to Quicken Premier. -- Tet
It's actually almost a completely different program. I switched from Mac to Windows in 2007 and was much happier with the Windows version.