Quicken's future direction - a cause for concern

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JBTX
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Re: Quicken's future direction - a cause for concern

Post by JBTX » Sat Nov 04, 2017 8:46 pm

ruralavalon wrote:
Sat Nov 04, 2017 12:22 pm
michaeljc70 wrote:
Sat Nov 04, 2017 10:09 am
michaeljc70 wrote:
Thu Nov 02, 2017 1:58 pm
I ordered Quicken Home & Business 2017 online for $27 shipped. The only issue is it is a physical CD or (DVD) and my laptop doesn't have a reader so I have to find a drive somewhere. I think I have a USB one somewhere...
After using this a few days it seems like they changed the colors/fonts to make it look newer. In terms of function, it is not correctly defaulting to the category/subcategory on several transactions. Annoying. It did so before. For example, it knows ComEd is a utility, but not that the subcategory is electric. This is the typical stuff I keep finding with Quicken "upgrades" that aggravates me.
The updated version is prettier.

I also noticed continued incorrect defaulting to categories, does anyone have a solution?
When I updated to 2016 some of the category defaults were not what I wanted. I had to go to I think Tools memorized transactions, or something like that and delete the memorized transaction/ categorization that I didn’t want. If I did that religiously after a while it got better but still happens occasionally.

I add a level of complication in that I create different categories for me and my wife. So for instance I may have to keep switching chic fil a back and forth depending on who made the purchase. There may be a better way to accomplish this but I haven’t put much thought into it.

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TimeRunner
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Re: Quicken's future direction - a cause for concern

Post by TimeRunner » Sat Nov 04, 2017 9:36 pm

JBTX wrote:
Sat Nov 04, 2017 8:46 pm
There may be a better way to accomplish this but I haven’t put much thought into it.
Quicken "Tags" might work for you. Other programs (e.g. Moneydance) many also support tags, should you switch.
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JBTX
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Re: Quicken's future direction - a cause for concern

Post by JBTX » Sat Nov 04, 2017 9:48 pm

TimeRunner wrote:
Sat Nov 04, 2017 9:36 pm
JBTX wrote:
Sat Nov 04, 2017 8:46 pm
There may be a better way to accomplish this but I haven’t put much thought into it.
Quicken "Tags" might work for you. Other programs (e.g. Moneydance) many also support tags, should you switch.
I saw those added some number of years ago but have never used it.

There are probably functionalities in quicken I have never used. Once I set up
Something years ago I have never bothered to change it.

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ruralavalon
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Re: Quicken's future direction - a cause for concern

Post by ruralavalon » Tue Nov 07, 2017 2:01 pm

JBTX wrote:
Sat Nov 04, 2017 8:46 pm
ruralavalon wrote:
Sat Nov 04, 2017 12:22 pm
michaeljc70 wrote:
Sat Nov 04, 2017 10:09 am
michaeljc70 wrote:
Thu Nov 02, 2017 1:58 pm
I ordered Quicken Home & Business 2017 online for $27 shipped. The only issue is it is a physical CD or (DVD) and my laptop doesn't have a reader so I have to find a drive somewhere. I think I have a USB one somewhere...
After using this a few days it seems like they changed the colors/fonts to make it look newer. In terms of function, it is not correctly defaulting to the category/subcategory on several transactions. Annoying. It did so before. For example, it knows ComEd is a utility, but not that the subcategory is electric. This is the typical stuff I keep finding with Quicken "upgrades" that aggravates me.
The updated version is prettier.

I also noticed continued incorrect defaulting to categories, does anyone have a solution?
When I updated to 2016 some of the category defaults were not what I wanted. I had to go to I think Tools memorized transactions, or something like that and delete the memorized transaction/ categorization that I didn’t want. If I did that religiously after a while it got better but still happens occasionally.
Thank you.

It is "tools", then "memorized payee list". I just tried it, haven't done an update yet and won't for a week or so, but think it will work.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

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FiveK
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Re: Quicken's future direction - a cause for concern

Post by FiveK » Tue Nov 07, 2017 5:38 pm

ruralavalon wrote:
Tue Nov 07, 2017 2:01 pm
JBTX wrote:
Sat Nov 04, 2017 8:46 pm
ruralavalon wrote:
Sat Nov 04, 2017 12:22 pm
I also noticed continued incorrect defaulting to categories, does anyone have a solution?
When I updated to 2016 some of the category defaults were not what I wanted. I had to go to I think Tools memorized transactions, or something like that and delete the memorized transaction/ categorization that I didn’t want. If I did that religiously after a while it got better but still happens occasionally.
Thank you.

It is "tools", then "memorized payee list". I just tried it, haven't done an update yet and won't for a week or so, but think it will work.
It definitely works if you whittle down to only one category for a particular payee in the memorized payee list.

One might think that with multiple categories from which to choose for a particular payee, Quicken would default to the most recently used (or perhaps the most often used). It doesn't, so it seems to be luck of the draw whether it defaults to the one you want. Again, removing all but one from the memorized list will work.

See Downloaded Transactions Are Automatically Assigned a Category for Quicken's "official" explanation.

michaeljc70
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Re: Quicken's future direction - a cause for concern

Post by michaeljc70 » Tue Nov 07, 2017 5:54 pm

FiveK wrote:
Tue Nov 07, 2017 5:38 pm
ruralavalon wrote:
Tue Nov 07, 2017 2:01 pm
JBTX wrote:
Sat Nov 04, 2017 8:46 pm
ruralavalon wrote:
Sat Nov 04, 2017 12:22 pm
I also noticed continued incorrect defaulting to categories, does anyone have a solution?
When I updated to 2016 some of the category defaults were not what I wanted. I had to go to I think Tools memorized transactions, or something like that and delete the memorized transaction/ categorization that I didn’t want. If I did that religiously after a while it got better but still happens occasionally.
Thank you.

It is "tools", then "memorized payee list". I just tried it, haven't done an update yet and won't for a week or so, but think it will work.
It definitely works if you whittle down to only one category for a particular payee in the memorized payee list.

One might think that with multiple categories from which to choose for a particular payee, Quicken would default to the most recently used (or perhaps the most often used). It doesn't, so it seems to be luck of the draw whether it defaults to the one you want. Again, removing all but one from the memorized list will work.

See Downloaded Transactions Are Automatically Assigned a Category for Quicken's "official" explanation.
Why do I have to manually do this in an "upgrade"? It worked fine for years. The title of this topic says it all.

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ruralavalon
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Re: Quicken's future direction - a cause for concern

Post by ruralavalon » Tue Nov 07, 2017 7:09 pm

FiveK wrote:
Tue Nov 07, 2017 5:38 pm
ruralavalon wrote:
Tue Nov 07, 2017 2:01 pm
JBTX wrote:
Sat Nov 04, 2017 8:46 pm
ruralavalon wrote:
Sat Nov 04, 2017 12:22 pm
I also noticed continued incorrect defaulting to categories, does anyone have a solution?
When I updated to 2016 some of the category defaults were not what I wanted. I had to go to I think Tools memorized transactions, or something like that and delete the memorized transaction/ categorization that I didn’t want. If I did that religiously after a while it got better but still happens occasionally.
Thank you.

It is "tools", then "memorized payee list". I just tried it, haven't done an update yet and won't for a week or so, but think it will work.
It definitely works if you whittle down to only one category for a particular payee in the memorized payee list.

One might think that with multiple categories from which to choose for a particular payee, Quicken would default to the most recently used (or perhaps the most often used). It doesn't, so it seems to be luck of the draw whether it defaults to the one you want. Again, removing all but one from the memorized list will work.

See Downloaded Transactions Are Automatically Assigned a Category for Quicken's "official" explanation.
Thank you, that is an interesting but confusing official Quicken explanation.

I did narrow several payee lists, some down to one category some only down to fewer than before. Will see on the next update what actually works.

The information here is far better than Quicken customer support :D .
Last edited by ruralavalon on Wed Nov 08, 2017 5:54 am, edited 1 time in total.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

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rustymutt
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Re: Quicken's future direction - a cause for concern

Post by rustymutt » Tue Nov 07, 2017 7:19 pm

OK, I just upgraded to 2017, from 2015, and they've already began asking me to buy the new 2018. Not 2 months I've owned their product. The marketing has gone north in Quicken. Guess I'll be forced to find an alternative register. May go back to manual spreadsheets, as other have mentioned. :?
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ruralavalon
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Re: Quicken's future direction - a cause for concern

Post by ruralavalon » Tue Nov 07, 2017 7:43 pm

rustymutt wrote:
Tue Nov 07, 2017 7:19 pm
OK, I just upgraded to 2017, from 2015, and they've already began asking me to buy the new 2018. Not 2 months I've owned their product. The marketing has gone north in Quicken. Guess I'll be forced to find an alternative register. May go back to manual spreadsheets, as other have mentioned. :?
I bought, installed, and activated the 2018 version of Quicken Deluxe on November 1, 2017, I got an email from Quicken trying to sell me again on November 2, 2017.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started

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Bylo Selhi
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Re: Quicken's future direction - a cause for concern

Post by Bylo Selhi » Wed Nov 08, 2017 4:50 pm

Another letter to customers from Eric Dunn, CEO of Quicken: Letter to the Quicken Community about the Membership Plan (November 2017)
Since the launch of the 2018 releases of Quicken, we have heard questions from many of you about the new Membership Plan, where customers subscribe to Quicken on an annual basis and automatically receive ongoing product improvements. These questions, which I’ll address below, fall into four main categories:
• Questions about why we are making this change
• Concerns about the ongoing cost of Quicken Membership
• Questions about our product plans after making the change
• Concerns about data ownership and “lock-in”

SimonJester
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Re: Quicken's future direction - a cause for concern

Post by SimonJester » Thu Nov 09, 2017 9:42 am

Bylo Selhi wrote:
Wed Nov 08, 2017 4:50 pm
Another letter to customers from Eric Dunn, CEO of Quicken: Letter to the Quicken Community about the Membership Plan (November 2017)
Since the launch of the 2018 releases of Quicken, we have heard questions from many of you about the new Membership Plan, where customers subscribe to Quicken on an annual basis and automatically receive ongoing product improvements. These questions, which I’ll address below, fall into four main categories:
• Questions about why we are making this change
• Concerns about the ongoing cost of Quicken Membership
• Questions about our product plans after making the change
• Concerns about data ownership and “lock-in”

The fact that their CEO had to come out with this statement shows that the waters were not as smooth sailing as they thought.
Again I hope this will drive competition with other products (ie MoneyDance).

As other in the Quicken community had pointed out while you can get a two year subscription today at a discounted price there is no guarantee or inkling that you can get another two year subscription at the end of your term and it is quite likely you will be converted to a yearly subscription at an inflated price.

There there is a question if this subscription model will work for the long term for Quicken. New Office 365 subscriptions are down 62% from previous years.
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin

Bacchus01
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Re: Quicken's future direction - a cause for concern

Post by Bacchus01 » Fri Nov 10, 2017 11:21 am

So, deluxe is now $89 at Amazon for 27 months.

Since I'm on 2016, I'm debating just waiting a few years until it expires and then switching, or switch now for that price.

When will 2016 sunset?

michaeljc70
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Re: Quicken's future direction - a cause for concern

Post by michaeljc70 » Fri Nov 10, 2017 11:34 am

Bacchus01 wrote:
Fri Nov 10, 2017 11:21 am
So, deluxe is now $89 at Amazon for 27 months.

Since I'm on 2016, I'm debating just waiting a few years until it expires and then switching, or switch now for that price.

When will 2016 sunset?
You can buy 2017 Deluxe for less than $20. https://www.thepcconnectstorellc.com/pr ... 2016-state. Coupon code NEW30 got me 30% off. It looked a little sketchy, but the software arrived in less than a week and is legit and worked. Note: I bought Home & Business 2017 for $27.

Bacchus01
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Re: Quicken's future direction - a cause for concern

Post by Bacchus01 » Fri Nov 10, 2017 3:24 pm

michaeljc70 wrote:
Fri Nov 10, 2017 11:34 am
Bacchus01 wrote:
Fri Nov 10, 2017 11:21 am
So, deluxe is now $89 at Amazon for 27 months.

Since I'm on 2016, I'm debating just waiting a few years until it expires and then switching, or switch now for that price.

When will 2016 sunset?
You can buy 2017 Deluxe for less than $20. https://www.thepcconnectstorellc.com/pr ... 2016-state. Coupon code NEW30 got me 30% off. It looked a little sketchy, but the software arrived in less than a week and is legit and worked. Note: I bought Home & Business 2017 for $27.

So, for like $20, I can kick the problem down the road for 3 years? Sounds like a plan

LSLover
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Re: Quicken's future direction - a cause for concern

Post by LSLover » Fri Nov 10, 2017 3:28 pm

Bacchus01 wrote:
Fri Nov 10, 2017 3:24 pm
michaeljc70 wrote:
Fri Nov 10, 2017 11:34 am
Bacchus01 wrote:
Fri Nov 10, 2017 11:21 am
So, deluxe is now $89 at Amazon for 27 months.

Since I'm on 2016, I'm debating just waiting a few years until it expires and then switching, or switch now for that price.

When will 2016 sunset?
You can buy 2017 Deluxe for less than $20. https://www.thepcconnectstorellc.com/pr ... 2016-state. Coupon code NEW30 got me 30% off. It looked a little sketchy, but the software arrived in less than a week and is legit and worked. Note: I bought Home & Business 2017 for $27.

So, for like $20, I can kick the problem down the road for 3 years? Sounds like a plan
Not quite three years... You will kick it down the road until April 2020, i.e. 2.5 yrs.

michaeljc70
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Re: Quicken's future direction - a cause for concern

Post by michaeljc70 » Fri Nov 10, 2017 3:29 pm

LSLover wrote:
Fri Nov 10, 2017 3:28 pm
Bacchus01 wrote:
Fri Nov 10, 2017 3:24 pm
michaeljc70 wrote:
Fri Nov 10, 2017 11:34 am
Bacchus01 wrote:
Fri Nov 10, 2017 11:21 am
So, deluxe is now $89 at Amazon for 27 months.

Since I'm on 2016, I'm debating just waiting a few years until it expires and then switching, or switch now for that price.

When will 2016 sunset?
You can buy 2017 Deluxe for less than $20. https://www.thepcconnectstorellc.com/pr ... 2016-state. Coupon code NEW30 got me 30% off. It looked a little sketchy, but the software arrived in less than a week and is legit and worked. Note: I bought Home & Business 2017 for $27.

So, for like $20, I can kick the problem down the road for 3 years? Sounds like a plan
Not quite three years... You will kick it down the road until April 2020, i.e. 2.5 yrs.
Exactly. You beat me to it.

https://www.quicken.com/support/quicken ... ion-policy

cricket49
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Re: Quicken's future direction - a cause for concern

Post by cricket49 » Fri Nov 10, 2017 5:03 pm

I ordered my 2018 Quicken Premier 2 year from Amazon with an extended 3 months included. So 27 months before I will update again or discontinue Quicken altogether.

When it works correctly Quicken is a great financial program. Currently we have money in 3 brokerage firms, HSA accounts and a few bank accounts. Quicken consolidates all these accounts and displays mutual funds and investments all on one page. You never have to go to 2-3 websites to view balances, dividends, gains/loss etc. It works for me.

Keeping my fingers crossed that install will go smoothly. :thumbsup
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David Scubadiver
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Re: Quicken's future direction - a cause for concern

Post by David Scubadiver » Tue Nov 14, 2017 10:17 am

cricket49 wrote:
Fri Nov 10, 2017 5:03 pm
I ordered my 2018 Quicken Premier 2 year from Amazon with an extended 3 months included. So 27 months before I will update again or discontinue Quicken altogether.

When it works correctly Quicken is a great financial program. Currently we have money in 3 brokerage firms, HSA accounts and a few bank accounts. Quicken consolidates all these accounts and displays mutual funds and investments all on one page. You never have to go to 2-3 websites to view balances, dividends, gains/loss etc. It works for me.

Keeping my fingers crossed that install will go smoothly. :thumbsup
I ditched quicken in 2008 when I bought my Mac. I use moneydance 2017 as of last week. For the previous 5 years I used Moneydance 2012. I thought it was time to upgrade. :)

Nothing makes me want to have a 3 fund portfolio more than changing financial reporting software.

KSAL889813
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Re: Quicken's future direction - a cause for concern

Post by KSAL889813 » Tue Nov 14, 2017 12:02 pm

cricket49 wrote:
Fri Nov 10, 2017 5:03 pm
I ordered my 2018 Quicken Premier 2 year from Amazon with an extended 3 months included. So 27 months before I will update again or discontinue Quicken altogether.

When it works correctly Quicken is a great financial program. Currently we have money in 3 brokerage firms, HSA accounts and a few bank accounts. Quicken consolidates all these accounts and displays mutual funds and investments all on one page. You never have to go to 2-3 websites to view balances, dividends, gains/loss etc. It works for me.

Keeping my fingers crossed that install will go smoothly. :thumbsup

I just did the same thing and completely agree with you moving forward.

stvyreb
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Re: Quicken's future direction - a cause for concern

Post by stvyreb » Sat Dec 09, 2017 3:21 pm

I'm still using Quicken 2013 ; but I travel and don't want to be tied into a Windows 10 product ; seems like personal capital and expenses online is my only choice ; unless GnuCash is going to be functional enough.

Seriously what does the rest of the world do to balance their checkbook and credit card accounts , esp. in this age of "paperless" life ?


IIRC what private equity ownership means, is milk and cut the business, for short term gain, then if the slim company can't survive at least they got theirs, goodbye Quicken seems to me, I imagine subscriptions and online could have worked , meanwhile Intuit has a corner of what software still meaningfully works offline , Turbotax ..... I for one, don't know if I want all my financial records with whomever Personal Capital is, esp. in these days, where you can't trust anything these online companies tell you, re: security or use of your data

astrohip
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Re: Quicken's future direction - a cause for concern

Post by astrohip » Sat Dec 09, 2017 3:51 pm

stvyreb wrote:
Sat Dec 09, 2017 3:21 pm
IIRC what private equity ownership means, is milk and cut the business, for short term gain, then if the slim company can't survive at least they got theirs, goodbye Quicken seems to me, I imagine subscriptions and online could have worked , meanwhile Intuit has a corner of what software still meaningfully works offline , Turbotax .....
Private equity can mean that, but doesn't have to. I've been on both sides, there are good PE companies that want their companies to succeed. And are willing to inject capital if it makes sense.

Intuit is not only TurboTax, they are (and much larger) Quickbooks.
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michaeljc70
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Re: Quicken's future direction - a cause for concern

Post by michaeljc70 » Sat Dec 09, 2017 8:04 pm

As I stated above, I bought a version to keep me alive (in the Quicken world) for 2 more years. After that, I have to think that existing products (Mint, Personal Capital, MoneyDance, etc) will have vastly improved or a new competitor will arise if Quicken doesn't work out. Or, in an unlikely event, I might have so much money that I just don't care about tracking anything. :shock:

KSAL889813
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Re: Quicken's future direction - a cause for concern

Post by KSAL889813 » Fri Jan 05, 2018 12:07 pm

I caved and got the Quicken Premier 2018, I currently have Premier 2015. Anyone know the changes / differences between the two years ? And, should I install and start using the 2018 software now or wait as long as possible for my 2 year subscription to last as long as possible. Thanks!

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IlliniGuy
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Re: Quicken's future direction - a cause for concern

Post by IlliniGuy » Sat Jan 06, 2018 11:26 am

@KSAL: Deluxe 2015 user here. I bought Deluxe 2018 with a Black Friday discount and I’m waiting until closer to the date that automatic downloads stop working to activate and upgrade. I’m content with 2015 and would see no reason to upgrade if not for losing automatic downloads soon.

stan1
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Re: Quicken's future direction - a cause for concern

Post by stan1 » Sat Jan 06, 2018 4:15 pm

I took a break from Quicken in 2017 after 22 years of use. I updated my records once in Feb and again in July otherwise ignored it other than updating some cost basis information. Decided a few weeks ago I needed to invest time in data cleansing or stop all together. Decided to do the data cleansing. First I reviewed my custom categories that had evolved over 20+ years of use. There were too many, some overlapped, and sometimes I wasn't consistent in how they were used (such as Dining at home and Dining on vacation). I recategorized my database. I normalized vendor names. I cleaned up two decades of memorized transactions to get them set up with the right categories and vendor names. It took a long time but got me back on track to keep using Quicken without some of the annoyances. As I was doing this work I did realize that Quicken has made many changes over the years to make data entry easier than when I started. I didn't notice them or use them until I put a lot of time into the software, noticed new ways of using it, and adapting some of my methods to the tool. It may be a dying platform because most people aren't going to want to put the time into it like I just did. I don't mind a reasonable subscription fee (say $30-50/year) but I know I'm in a minority with that especially when Mint is no cost.

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FiveK
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Re: Quicken's future direction - a cause for concern

Post by FiveK » Sat Jan 06, 2018 4:22 pm

stan1 wrote:
Sat Jan 06, 2018 4:15 pm
I don't mind a reasonable subscription fee (say $30-50/year) but I know I'm in a minority with that especially when Mint is no cost.
There is also the perception that Quicken spends resources on fluff such as the color of the displays, but not on improving the functionality of the program, despite numerous suggestions for those improvements.

michaeljc70
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Re: Quicken's future direction - a cause for concern

Post by michaeljc70 » Sat Jan 06, 2018 5:33 pm

FiveK wrote:
Sat Jan 06, 2018 4:22 pm
stan1 wrote:
Sat Jan 06, 2018 4:15 pm
I don't mind a reasonable subscription fee (say $30-50/year) but I know I'm in a minority with that especially when Mint is no cost.
There is also the perception that Quicken spends resources on fluff such as the color of the displays, but not on improving the functionality of the program, despite numerous suggestions for those improvements.
After my "upgrade" to 2017 I got all new colors and the "feature" where I get to manually categorize many of my downloaded transactions that used to automatically be categorized. I also get $0.00 transactions downloaded frequently from Discover that don't show on their website. There are new fluff features, but let's face it, when a product is 20+ years old there isn't a whole lot more useful stuff to add. I can get my FICO score anywhere.

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TierArtz
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Re: Quicken's future direction - a cause for concern

Post by TierArtz » Sat Jan 06, 2018 6:02 pm

I confess to being a Quicken addict (22-year user with about 37000 entries including all mutual fund entries back to 1988), so I'm at their mercy. I recently upgraded from 2015 to 2018. Strangely, after the upgrade, Quicken's calculated investment return is about 0.5% less than the 2015 version showed. I'm happy with it overall though.

stan1
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Re: Quicken's future direction - a cause for concern

Post by stan1 » Sat Jan 06, 2018 7:29 pm

FiveK wrote:
Sat Jan 06, 2018 4:22 pm
stan1 wrote:
Sat Jan 06, 2018 4:15 pm
I don't mind a reasonable subscription fee (say $30-50/year) but I know I'm in a minority with that especially when Mint is no cost.
There is also the perception that Quicken spends resources on fluff such as the color of the displays, but not on improving the functionality of the program, despite numerous suggestions for those improvements.
First off, I'm not a Quicken fan boy just looking at this from an objective perspective as a user and what I can surmise are the challenges of trying to sell personal finance software that appeals to millions of users. Quicken is a tool like a hammer. I use a hammer to pound and pull nails, but also sometimes as a lever or to break things up. I don't use a hammer to screw screws or turn a bolt and I don't spend a lot of time trying to use the wrong tool when a different one does the job better.

Personally I don't see a whole lot of missing features that would be applicable to a broad segment of the user base. Sure I could write them 10 pages on how I'd want to see my asset allocation but that would be unique to me and that is something which I'm perfectly fine doing in a spreadsheet because I don't think anyone else would do it the same way I do. If they did it my specialized way a million other people would be upset. I think the displays are on their 3rd or maybe 4th major iteration since Windows NT 22 years ago. There's been less change in Quicken's displays than in Microsoft Office. Reason why they've put a lot of focus onto the user interface is because they get feedback customers stop using it because its hard to use. Vicious cycle when really I think most people don't want or need this level of detail. The ad hoc query report tools have worked well for me for 22 years (and I've created many reports over the years).

They are supposed to be releasing a new interface for downloaded transactions soon. Many of the errors people blame Quicken for with downloaded transactions are actually the fault of the financial institution. Garbage in, garbage out.

I think the biggest problem is most of their customer base who seems interested in this level of detail in personal finance is dying off, or many have tried it and decided they don't want that level of detail so only hardcore users are left. Maintaining categories, memorized transactions, payee lists, and editing downloaded transactions before accepting them takes time that isn't required if you just look at the data on a financial institution website or aggregator site like Mint. I've tried Mint also and categories and standardization of vendor names are a huge mess. Most of the population doesn't see benefit in keeping decades worth of data at their fingertips and financial institution websites have pretty good search capability at least for 3-5 years. I've downloaded programs like Moneydance and GNUCash in the past and did not see anything that would push me to change. Those needed plenty of work arounds as well. Business model is drying up and there's only so much advertising you can push into a paid product (of course Intuit tried that many times before selling it off).

Silk McCue
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Re: Quicken's future direction - a cause for concern

Post by Silk McCue » Sat Jan 06, 2018 8:37 pm

I’ve been usIng Quicken for about 20 years and I only upgrade every few years. I upgraded to 2018 from 2015 around ThanksgivIng with a 27 or 28 month deal from Amazon. It has been working very well. I find the value to be very good and don’t have any interest in finding greener pastures. I am highly technical and could switch out somewhere else if I was experiencing any real issues. If it all goes to heck in a hand basket in the future I will re-evaluate.

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Re: Quicken's future direction - a cause for concern

Post by pop77 » Sat Jan 06, 2018 8:53 pm

I caved in and upgraded to 2018 as well when they had the 40% off sale. I went with the two year subscription for 90 dollars. My feelings are mixed.


1. Everything worked without any nightmares. The upgrade was smooth. Quicken was able to convert my 2015 data file and all the reports worked as before without any issues.
2. Not impressed with any of the new features so far. My bank does a great job with Bill pay so I do not want to do it from Quicken now.
3. I tried Personal Capital very briefly before the upgrade to see whether it would work for me, but the data provided by PC might be useful for beginning investors but I knew how assets are broken down by asset class and their expense ratios etc. The user interfaces are definitely polished but there was minor annoyance with classifying assets for me. The UI was not cooperative.
4. Personal capital could not match up Quickens deep features for expense tracking, budgeting, projected bill pay cashflows, transfers between accounts etc.
5. The customer service/product support/user guide for Quicken is the worst I have seen. The 'premium' support does not work on weekends and work only on weekdays. The chat support was horrible, I have to wait 30 minutes to get someone and each response took 5 minutes! Horrible. Their website is all marketing and NO content. Community is good. But if you want an easy walkthrough of new features there is not much there.
6. The Tax optimizer (new for me coming from Quicken 2015) was laughable, it advises me to sell Emerging Market bonds in Roth and buy it in taxable and various weird recommendations which makes no sense.

On an important side note is I am amazed with how more advanced and sophisticated is Boglehead community in matters like asset location, tax minimization, tax cost ratio etc. All these software tools don't even come close.

Bottom line, I guess we need to be happy that Quicken continues to work without any major new features but also without any major issues with upgrade. I normally use quicken to aggregate the data for investing and do all the analysis on my own by exporting the aggregated data to Excel.

Quicken continues to be best (in my mind) for budgeting, expense tracking, knowing where the money is going, projecting cashflows, understanding how much dividends I got across taxable accounts, how much interest was paid across, savings, CDs etc.

I am satisfied but not super happy about my upgrade. Let us see whether introduce some nice features with all this subscription money in the next two years!

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FiveK
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Re: Quicken's future direction - a cause for concern

Post by FiveK » Sat Jan 06, 2018 9:19 pm

stan1 wrote:
Sat Jan 06, 2018 7:29 pm
Personally I don't see a whole lot of missing features that would be applicable to a broad segment of the user base.
That is indeed the challenge a technology company faces.

If they think different colors are the answer, I fear they will not succeed at the challenge. But, hey, I'm not a marketing person, so maybe they will.

E.g., their Lifetime Planner is decent, but with some effort could be very good.

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Re: Quicken's future direction - a cause for concern

Post by michaeljc70 » Sun Jan 07, 2018 7:40 am

stan1 wrote:
Sat Jan 06, 2018 7:29 pm


They are supposed to be releasing a new interface for downloaded transactions soon. Many of the errors people blame Quicken for with downloaded transactions are actually the fault of the financial institution. Garbage in, garbage out.
The thing is, one day it worked fine. The next day I upgraded and it didn't. It wasn't the financial institutions that changed anything.

There are too many bugs/glitches in a product this old in my opinion. When you are introducing few new useful features and breaking old ones it is time to stop.

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Re: Quicken's future direction - a cause for concern

Post by astrohip » Sun Jan 07, 2018 9:11 am

stan1 wrote:
Sat Jan 06, 2018 4:15 pm
I took a break from Quicken in 2017 after 22 years of use. I updated my records once in Feb and again in July otherwise ignored it other than updating some cost basis information. Decided a few weeks ago I needed to invest time in data cleansing or stop all together. Decided to do the data cleansing. First I reviewed my custom categories that had evolved over 20+ years of use. There were too many, some overlapped, and sometimes I wasn't consistent in how they were used (such as Dining at home and Dining on vacation). I recategorized my database. I normalized vendor names. I cleaned up two decades of memorized transactions to get them set up with the right categories and vendor names. It took a long time but got me back on track to keep using Quicken without some of the annoyances. As I was doing this work I did realize that Quicken has made many changes over the years to make data entry easier than when I started. I didn't notice them or use them until I put a lot of time into the software, noticed new ways of using it, and adapting some of my methods to the tool. It may be a dying platform because most people aren't going to want to put the time into it like I just did. I don't mind a reasonable subscription fee (say $30-50/year) but I know I'm in a minority with that especially when Mint is no cost.
I just went thru something similar last week. Decided to dramatically simplify my Quicken life. Also had well over twenty years of very detailed Quicken data, and honestly, it was getting to be a PITA to keep up with all the statements and data (we have a *lot* of transactions, and credit cards).

Many of my categories went back to when we had small kids, and I tracked everything. Now it's just two of us, and I really don't care if it was Auto:Gas:Me or Auto:Gas:Spouse or Auto:Fees or... you get the idea. Now it's just Auto Expenses.

I took 87 different expense categories (and sub-cats) and merged/redefined them into 11. Yes, eleven! Very broad groupings--Medical is just that. Before I had 7 sub-cats under it. Before I had Meals, Travel, Movies, yada yada, now one called Lifestyle. And all the various stuff we buy is simply "Stores & Purchases".

Why do I mention this? Because if you were like me, using Quicken had become a chore. Drastically simplifying data entry has reduced the time needed to enter data, and made it as close to enjoyable as it will ever be.

Shoulda done this years ago.

[PS: stan1 I also wiped out all the stored & memorized transaction, and started fresh. Much easier that way.]
"Happiness is not about doing, it’s about being." - R Branson

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Re: Quicken's future direction - a cause for concern

Post by Bylo Selhi » Sun Jan 07, 2018 10:39 am

michaeljc70 wrote:
Sun Jan 07, 2018 7:40 am
There are too many bugs/glitches in a product this old in my opinion. When you are introducing few new useful features and breaking old ones it is time to stop.
This is why I decided to sever my relationship with Quicken (which goes back to the PC-DOS days.)

I'd have no problem paying them a reasonable annual subscription fee if they just fixed bugs that have been around for years. I do realize that they have to come up with new functionality in order to attract new customers. But ignoring their existing customer base as they've been doing for years will cost them far more in the long run.

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Re: Quicken's future direction - a cause for concern

Post by stan1 » Sun Jan 07, 2018 10:54 am

I've done some pretty complicated things that have worked well without any bugs. I was dreading merging my legacy Vanguard mutual fund account into a new platform brokerage account with 20 years of cost basis data including back when I had dividends reinvested. I noticed there was a "shares transferred between accounts" investment transaction so I backed up my data file and gave it a shot. It took a long time (10 minutes) but it did exactly what I wanted and my cost basis information from my mutual fund account is now reflected in my brokerage account. They also have a "mutual fund conversion" transaction which seems ideal Vanguard customers converting between share classes.

One other thing I did was go through every memorized transaction and click the lock box so that it won't change every time I edit a transaction before accepting it into the register. Sometimes when I download a transaction I want to add a memo. I don't want a memo specific to a single purchase stored in the memorized transaction list because it keeps popping up forever.

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Re: Quicken's future direction - a cause for concern

Post by Stormbringer » Sun Jan 07, 2018 12:23 pm

I just ordered Quicken Premier 2017 from bonanza.com. They are selling them for $30 there. That should put this off for two more years. Hopefully a more appealing option emerges in that time.
"Compound interest is the most powerful force in the universe." - Albert Einstein

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Re: Quicken's future direction - a cause for concern

Post by CardinalRule » Sun Jan 07, 2018 12:44 pm

Thanks! I was literally in the middle of composing a post to ask whether anyone had seen Quicken Premier 2017 for sale anywhere (I had not been able to find any retailers still selling it). I am interested in kicking the can down the road a little, while I ponder the whole Quicken 2018 subscription thing. In my case I'm running 2016, and so I would only be getting an extra year.
Stormbringer wrote:
Sun Jan 07, 2018 12:23 pm
I just ordered Quicken Premier 2017 from bonanza.com. They are selling them for $30 there. That should put this off for two more years. Hopefully a more appealing option emerges in that time.

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Re: Quicken's future direction - a cause for concern

Post by fabdog » Sun Jan 07, 2018 1:37 pm

Quicken Deluxe 2017 download at greentaxexpert.com, download only. Worked fine

Mike

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Re: Quicken's future direction - a cause for concern

Post by maineminder » Sun Jan 07, 2018 2:22 pm

Stormbringer wrote:
Sun Jan 07, 2018 12:23 pm
I just ordered Quicken Premier 2017 from bonanza.com. They are selling them for $30 there. That should put this off for two more years. Hopefully a more appealing option emerges in that time.
Thanks. This just bought me a few more years as well while I sort this out. May need to wean myself off this obsessive tracking thing as I've also found that the alternatives don't meet what I'm looking for. Need to figure out what to do with 20+ years worth of data, especially the investment transactions.

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Re: Quicken's future direction - a cause for concern

Post by Lacrocious » Sun Jan 07, 2018 10:44 pm

astrohip wrote:
Sun Jan 07, 2018 9:11 am
I took 87 different expense categories (and sub-cats) and merged/redefined them into 11. Yes, eleven! Very broad groupings--Medical is just that. Before I had 7 sub-cats under it. Before I had Meals, Travel, Movies, yada yada, now one called Lifestyle. And all the various stuff we buy is simply "Stores & Purchases".

Why do I mention this? Because if you were like me, using Quicken had become a chore. Drastically simplifying data entry has reduced the time needed to enter data, and made it as close to enjoyable as it will ever be.

Shoulda done this years ago.
My Hero! I have been thinking of doing the same thing, but haven't pulled the trigger yet. I have simplified 4-5 categories but I haven't had the guts to fully re-vamp. Time to make time. I don't think I can get to 11, but even cutting mine by 1/3 will be a big improvement. Giving it more thought now.
- L

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FiveK
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Re: Quicken's future direction - a cause for concern

Post by FiveK » Mon Jan 08, 2018 11:39 am

FiveK wrote:
Sat Jan 06, 2018 9:19 pm
stan1 wrote:
Sat Jan 06, 2018 7:29 pm
Personally I don't see a whole lot of missing features that would be applicable to a broad segment of the user base.
That is indeed the challenge a technology company faces.

If they think different colors are the answer, I fear they will not succeed at the challenge. But, hey, I'm not a marketing person, so maybe they will.

E.g., their Lifetime Planner is decent, but with some effort could be very good.
See 2018 Quicken uses 2018 projections to estimate 2017 Taxes rather than actual 2017 data entries?!!! | Quicken Customer Community for another example.

Unfortunately for Quicken's users there are many more examples.

Fortunately for Quicken, it seems nobody else is sufficiently better - for now....

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Re: Quicken's future direction - a cause for concern

Post by CardinalRule » Sat Jan 20, 2018 12:28 pm

Drat. Waited too long. I was ready to order this morning, but it (Quicken Premier 2017) is gone from the two sites mentioned recently in this thread :(
Stormbringer wrote:
Sun Jan 07, 2018 12:23 pm
I just ordered Quicken Premier 2017 from bonanza.com. They are selling them for $30 there. That should put this off for two more years. Hopefully a more appealing option emerges in that time.

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Re: Quicken's future direction - a cause for concern

Post by CardinalRule » Sat Jan 20, 2018 12:48 pm

So I found a $34.99 download from 2017 Premier from a site called "Intuit Digital." I found this on Google Shopping and have already received the download link. I'll report back if it does not work. :happy

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Re: Quicken's future direction - a cause for concern

Post by abuss368 » Sat Jan 20, 2018 3:13 pm

Bogleheads -

I am curious as to what the "subscription" is with Quicken? Did the model change? Is your data stored in the cloud online now?
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

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Re: Quicken's future direction - a cause for concern

Post by CardinalRule » Sat Jan 20, 2018 4:33 pm

https://www.quicken.com/support/quicken ... rship-faqs

Neither your data nor the program itself are cloud-based. What changed is the pricing model.
abuss368 wrote:
Sat Jan 20, 2018 3:13 pm
Bogleheads -

I am curious as to what the "subscription" is with Quicken? Did the model change? Is your data stored in the cloud online now?

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Re: Quicken's future direction - a cause for concern

Post by michaeljc70 » Sat Jan 20, 2018 5:26 pm

abuss368 wrote:
Sat Jan 20, 2018 3:13 pm
Bogleheads -

I am curious as to what the "subscription" is with Quicken? Did the model change? Is your data stored in the cloud online now?
You pay triple, they change the colors around in the app, break some things, fix some things.

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Re: Quicken's future direction - a cause for concern

Post by abuss368 » Sat Jan 20, 2018 10:39 pm

maineminder wrote:
Sun Jan 07, 2018 2:22 pm
Stormbringer wrote:
Sun Jan 07, 2018 12:23 pm
I just ordered Quicken Premier 2017 from bonanza.com. They are selling them for $30 there. That should put this off for two more years. Hopefully a more appealing option emerges in that time.
Thanks. This just bought me a few more years as well while I sort this out. May need to wean myself off this obsessive tracking thing as I've also found that the alternatives don't meet what I'm looking for. Need to figure out what to do with 20+ years worth of data, especially the investment transactions.
After using Quicken for 10 years, we stopped using it cold almost a decade ago. Felt strange at first but then a huge relief to not be bothered any longer. Vanguard Statements at year end have all the information we need.
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

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Re: Quicken's future direction - a cause for concern

Post by spammagnet » Sat Jan 20, 2018 10:46 pm

ruralavalon wrote:
Sat Nov 04, 2017 12:22 pm
I also noticed continued incorrect defaulting to categories, does anyone have a solution?
If it works like previous versions, edit the memorized payee list. In 2017, you can open that by pressing Ctrl-T, or from the Tools menu, or by clicking the button at the bottom of the payee pick list when entering a transaction in a register.

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Re: Quicken's future direction - a cause for concern

Post by KyleAAA » Sun Jan 21, 2018 11:04 am

SimonJester wrote:
Thu Nov 09, 2017 9:42 am
Bylo Selhi wrote:
Wed Nov 08, 2017 4:50 pm
Another letter to customers from Eric Dunn, CEO of Quicken: Letter to the Quicken Community about the Membership Plan (November 2017)
Since the launch of the 2018 releases of Quicken, we have heard questions from many of you about the new Membership Plan, where customers subscribe to Quicken on an annual basis and automatically receive ongoing product improvements. These questions, which I’ll address below, fall into four main categories:
• Questions about why we are making this change
• Concerns about the ongoing cost of Quicken Membership
• Questions about our product plans after making the change
• Concerns about data ownership and “lock-in”

The fact that their CEO had to come out with this statement shows that the waters were not as smooth sailing as they thought.
Again I hope this will drive competition with other products (ie MoneyDance).

As other in the Quicken community had pointed out while you can get a two year subscription today at a discounted price there is no guarantee or inkling that you can get another two year subscription at the end of your term and it is quite likely you will be converted to a yearly subscription at an inflated price.

There there is a question if this subscription model will work for the long term for Quicken. New Office 365 subscriptions are down 62% from previous years.
Are they? Microsoft reported seats are up 31% and revenue up 43% YOY in Q3, eclipsing revenue from installed Office for the first time. The SAAS model is here to stay for better or worse. Personally, I prefer it.

https://arstechnica.com/information-tec ... -licenses/

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