Quicken 2019 and forward

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
michaeljc70
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Re: Quicken 2019 and forward

Post by michaeljc70 » Fri May 15, 2020 12:07 pm

Kenkat wrote:
Fri May 15, 2020 11:38 am
michaeljc70 wrote:
Fri May 15, 2020 9:15 am
I don't know if it is supposed to impress people with the number of updates when you are on a subscription to think you are getting your money's worth or what. However, having worked in software development for decades, it is actually slightly alarming to me. Even if proper testing is being done, it generally isn't cost effective to have frequent releases and often corners are cut. Sometimes a quick release is needed to fix something the last release broke.

Anecdotally, I'm not finding any more issues than with the Quicken 2017 non-subscription I had but I am not really seeing many more things I use fixed that had problems before (and there are some new problems). Overall, it is working pretty well for me though.
Some software development methodologies such as agile do advocate frequent releases. I have been working on a long term software project and we do releases every three weeks; it took some time to get a team in a good cadence but it is working really well overall. I suspect they are using something similar at Quicken.
I have used Agile and similar. We had releases measured in months though not weeks. This is also a 20+ year old mature product. I don't really see many new features in these releases. How many bugs can there be?

I notice on my phone apps some will update every few days if you allow it. I have auto-update off and do it from time to time manually.

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TimeRunner
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Re: Quicken 2019 and forward

Post by TimeRunner » Fri May 15, 2020 3:00 pm

michaeljc70 wrote:
Fri May 15, 2020 12:07 pm
How many bugs can there be?
Answer: https://community.quicken.com/categories/alerts
One cannot enlighten the unconscious.

tlk59
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Re: Quicken 2019 and forward

Post by tlk59 » Fri May 15, 2020 3:34 pm

acegolfer wrote:
Sun May 10, 2020 5:02 pm
Eagle33 wrote:
Sun May 10, 2020 4:45 pm
acegolfer wrote:
Sun May 10, 2020 3:40 pm
jasonp99 wrote:
Sat May 09, 2020 11:24 pm
I download QFX files from my credit cards/brokerages and then suck those into Quicken (after post-processing to auto-categorize). No need for automatic download and this takes less than 2 hrs per month to do. I enter checking account transactions manually because those are few and far between (or on a regular basis [salary] so those are set as auto-transactions in Quicken).
My 2016 expired Quicken won't import QFX files. Which version do you use?
Have you tried these Web Connect Troubleshooting tips?
I could import QFX before. But after Quicken expiration, it won't import any more.
My understanding is the attempted import of QFX files, even though they were manually downloaded from the bank's site, still connects to the Quicken server and is blocked if your license isn't active.

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J G Bankerton
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Re: Quicken 2019 and forward

Post by J G Bankerton » Fri May 15, 2020 3:44 pm

tlk59 wrote:
Fri May 15, 2020 3:34 pm
My understanding is the attempted import of QFX files, even though they were manually downloaded from the bank's site, still connects to the Quicken server and is blocked if your license isn't active.
After I download a QFX file from a bank or broker I can import it into Quicken on another PC without an internet connection. Quicken disables this when the software expires. Quicken was going to disable write for manual entries but backed off in the US of A.

Quicken is owned by H.I.G. a private equity group; they own over 300 companies. Private equity is in it for the money not to improve the product.
https://higprivateequity.com/

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Kenkat
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Re: Quicken 2019 and forward

Post by Kenkat » Fri May 15, 2020 3:48 pm

J G Bankerton wrote:
Fri May 15, 2020 3:44 pm
Quicken is owned by H.I.G. a private equity group; they own over 300 companies. Private equity is in it for the money not to improve the product.
https://higprivateequity.com/
All companies are in it for the money, in spite of the warm fuzzy corporate marketing branding.

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J G Bankerton
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Re: Quicken 2019 and forward

Post by J G Bankerton » Fri May 15, 2020 3:57 pm

Kenkat wrote:
Fri May 15, 2020 3:48 pm
J G Bankerton wrote:
Fri May 15, 2020 3:44 pm
Quicken is owned by H.I.G. a private equity group; they own over 300 companies. Private equity is in it for the money not to improve the product.
https://higprivateequity.com/
All companies are in it for the money, in spite of the warm fuzzy corporate marketing branding.
True but they want to stay in business. H.I.G. would not lose sleep if one of their many companies went under. They buy them cheep and make what they can. I can't see them putting any capital into research and development to improve the product.

engineer1969
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Re: Quicken 2019 and forward

Post by engineer1969 » Fri May 15, 2020 4:01 pm

I must admit I'm a quicken addict. I love it and it is worth every penny to me. I had been using a buggy 2017 version, but as soon as I updated to the subscription model (bought on Costco website) all my issues went away.

How can a software company stay in business, improve their product and attract new business if all the people that want it have paid? Subscriptions make sense.

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J G Bankerton
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Re: Quicken 2019 and forward

Post by J G Bankerton » Fri May 15, 2020 5:59 pm

engineer1969 wrote:
Fri May 15, 2020 4:01 pm
Subscriptions make sense.
Not for the consumer if there is nothing new. The only reason I went to a subscription and gave up 2016 was because Quicken backed down on write protecting the subscription if one did not pay. I will continue with the subscription as long as I can scrounge a year for about $20 or less.

I tried other products and they weren't worth the effort. I wish I started with Excel 20 years ago, that works with no subscription.

I noticed some sites offer two QFX files for downloading, "OFX Financial Data (.OFX)" and "Quicken OFX data (.QFX)". The financial data one opens with Money Dance, that was one of the other products I bought and tried.

spammagnet
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Re: Quicken 2019 and forward

Post by spammagnet » Fri May 15, 2020 8:15 pm

TimeRunner wrote:
Fri May 15, 2020 3:00 pm
michaeljc70 wrote:
Fri May 15, 2020 12:07 pm
How many bugs can there be?
Answer: https://community.quicken.com/categories/
That's a list of bank connection issues, not bugs in the software.

spammagnet
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Re: Quicken 2019 and forward

Post by spammagnet » Fri May 15, 2020 8:20 pm

J G Bankerton wrote:
Fri May 15, 2020 5:59 pm
I noticed some sites offer two QFX files for downloading, "OFX Financial Data (.OFX)" and "Quicken OFX data (.QFX)". The financial data one opens with Money Dance, that was one of the other products I bought and tried.
The only difference between OFX and QFX is that Quicken tweaked the first few lines of the file. That allowed them to patent it and charge extra royalties to subscriber banks.

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J G Bankerton
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Re: Quicken 2019 and forward

Post by J G Bankerton » Fri May 15, 2020 9:34 pm

spammagnet wrote:
Fri May 15, 2020 8:20 pm
J G Bankerton wrote:
Fri May 15, 2020 5:59 pm
I noticed some sites offer two QFX files for downloading, "OFX Financial Data (.OFX)" and "Quicken OFX data (.QFX)". The financial data one opens with Money Dance, that was one of the other products I bought and tried.
The only difference between OFX and QFX is that Quicken tweaked the first few lines of the file. That allowed them to patent it and charge extra royalties to subscriber banks.
The banks are paying Quicken? Now I'm ashamed that I subscribed, that money comes out of my account.
I didn't notice one was an O and one a Q. It is becoming clear how old people are easily cheated. :annoyed

spammagnet
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Re: Quicken 2019 and forward

Post by spammagnet » Fri May 15, 2020 10:14 pm

I believe that to be true, at least in the past.

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TimeRunner
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Re: Quicken 2019 and forward

Post by TimeRunner » Sat May 16, 2020 8:49 am

spammagnet wrote:
Fri May 15, 2020 8:15 pm
TimeRunner wrote:
Fri May 15, 2020 3:00 pm
michaeljc70 wrote:
Fri May 15, 2020 12:07 pm
How many bugs can there be?
Answer: https://community.quicken.com/categories/
That's a list of bank connection issues, not bugs in the software.
Click on Alerts and Known Product Issues or go directly here: https://community.quicken.com/categories/alerts . While most are bank connection issues, there are some bugs called out, for example: https://community.quicken.com/discussio ... 19-release . Based on the list shown here, the number of bugs in the software seems low compared to bank connection issues. That's good, isn't it? :beer
One cannot enlighten the unconscious.

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J G Bankerton
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Re: Quicken 2019 and forward

Post by J G Bankerton » Sun May 17, 2020 11:24 pm

TimeRunner wrote:
Fri May 15, 2020 3:00 pm
michaeljc70 wrote:
Fri May 15, 2020 12:07 pm
How many bugs can there be?
Answer: https://community.quicken.com/categories/alerts
I clicked the link and it was about a problem with Chase downloads, it said it was fixed. Sure enough after years of not being able to download form Chase I now can. Now if they can fix the problem with USAA I will be all set

Silk McCue
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Re: Quicken 2019 and forward

Post by Silk McCue » Mon May 18, 2020 6:45 am

J G Bankerton wrote:
Sun May 17, 2020 11:24 pm
TimeRunner wrote:
Fri May 15, 2020 3:00 pm
michaeljc70 wrote:
Fri May 15, 2020 12:07 pm
How many bugs can there be?
Answer: https://community.quicken.com/categories/alerts
I clicked the link and it was about a problem with Chase downloads, it said it was fixed. Sure enough after years of not being able to download form Chase I now can. Now if they can fix the problem with USAA I will be all set
What problem are you having with USAA? We've download from two logins at USAA using Direct Connect for a Checking Account and 3 credit cards for years. It works without fail. I've also been doing the same with multiple Chase accounts.

Cheers

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J G Bankerton
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Re: Quicken 2019 and forward

Post by J G Bankerton » Mon May 18, 2020 2:03 pm

Silk McCue wrote:
Mon May 18, 2020 6:45 am
What problem are you having with USAA? We've download from two logins at USAA using Direct Connect for a Checking Account and 3 credit cards for years. It works without fail. I've also been doing the same with multiple Chase accounts.
I'm not using direct connect, I'll have to try that. I avoid direct connect since Wells Fargo tried to charge me for using it.

I try to avoid changing anything in Quicken because it usually causes more trouble than I tried to fix.

retire57
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Re: Quicken 2019 and forward

Post by retire57 » Mon May 18, 2020 4:50 pm

What problem are you having with USAA? We've download from two logins at USAA using Direct Connect for a Checking Account and 3 credit cards for years. It works without fail. I've also been doing the same with multiple Chase accounts.

Cheers
Same here. No problems at all.

spammagnet
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Re: Quicken 2019 and forward

Post by spammagnet » Wed May 20, 2020 5:34 pm

J G Bankerton wrote:
Mon May 18, 2020 2:03 pm
... I'm not using direct connect, I'll have to try that. I avoid direct connect since Wells Fargo tried to charge me for using it. ...
That's determined by the individual bank. For those that do charge there may be ways for you to avoid the fee, such as minimum balances, direct deposits, etc.

spammagnet
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Re: Quicken 2019 and forward

Post by spammagnet » Fri May 22, 2020 7:54 pm

For those looking for an alternative to Quicken, the newly-renamed Microsoft 365 will include Excel templates they describe as intended for use to connect to financial institutions to download transactions. It's not available yet, that I can tell.

I report this here as FYI for users seeking an alternative to Quicken. I have no further knowledge of it, nor any opinion about using it. Other than playing with it out of curiousity, I will not use it as I have no need for it. I am satisfied by my combination of YNAB and Quicken.

https://support.office.com/en-us/articl ... 98103d4e6a

https://www.microsoft.com/en-us/microso ... ubscribers?

diyinvestor
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Re: Quicken 2019 and forward

Post by diyinvestor » Sun May 24, 2020 8:21 am

I don’t use the on-line feature of Quicken. The spending report is the only thing I use as I manually enter my data, and my 2013 version of Quicken won’t download into Windows 10. I don’t want to buy a new version of Quicken for just the spending report. Does anyone have a suggestion for any off-line software that can substitute for Quicken’s spending report?

jajlrajrf
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Re: Quicken 2019 and forward

Post by jajlrajrf » Sun May 24, 2020 8:26 am

There are a lot of tools that are viable for this, although fewer as more and more of them move online! A lot depends on exactly what you value. The challenge here is that it's really easy to make a personal finance app that looks like it's good, but actually is terrible. So you can't trust to surface appearances.

Personally I'm a believer in Gnucash, which looks a little rough around the edges, but is actually the best-in-class offline double-entry personal finance package (and believe me: I have tried them all). If you want something that feels more like Quicken in terms of its UI, I think Moneydance would fit the bill.

Lastly, as a dark horse, there are a number of plain text accounting tools; the big three are ledger, hledger, and beancount. These will let you simply enter your expenses as a big list of double-entry transactions in a text file. Normally I wouldn't recommend it to a boglehead because it's sort of targeted at computer nerds, but for the special case of "All I want is a spending report" they might actually fit the bill.

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mickeyvee
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Re: Quicken 2019 and forward

Post by mickeyvee » Sun May 24, 2020 8:45 am

The only true reason I use Quicken is for the register with my checking account. I can very easily project all my expenses 2 months out so I'm always in touch with my cash flow in real time. Between recurring payments and ad hoc expenses, I can easily navigate my financial journey. I just spent $41 for the subscription (just for this feature).

If I could do this without Quicken, I surely would!
Life - Can't live with it...can't live without it!

jajlrajrf
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Re: Quicken 2019 and forward

Post by jajlrajrf » Sun May 24, 2020 8:55 am

@mickeyvee, surely you can do this without spending $41 a year on it!

I'm on the record as being a huge skeptic about the value of the "Sync transactions to the bank" feature. I've used them for years, and I honestly believe they have cost me more time (and money) than they have saved. Nearly every bank will send you alerts for each transaction by text message or push notification for free. Entering those push notifications in will take you at most five minutes an evening; in my experience, auto-downloading those transactions still takes you five minutes a night because you have to check to make sure they're categorized correctly, and usually they're not.

Like most Bogleheads, I probably have a more complicated financial life than the average person. Entering transactions based on the push notifications I've gotten once a day is super-simple even for me. Why not try it out for a week and see if the same is true for you? You could even A/B test it on two different Quicken files.

(Although, now that I think about it, this is one of the reasons that I prefer a double-entry personal finance app - With Quicken, you "need" the automated downloading because it reduces the risk that you'll typo something and cause an error you will never be able to find later; with a double entry system like Gnucash, any errors are caught at entry time.)

delamer
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Quicken: One Security, two goals?

Post by delamer » Sat Jun 06, 2020 11:45 am

Fellow Quicken users —

I am using the latest version of Quicken Deluxe.

I have the same mutual fund in both an IRA and in a taxable brokerage account. As you know, Quicken allows you to assign one “goal” to each security. In this case, though, I’d like the fund in the IRA to have a different goal than the fund in taxable account.

Is there any work-around? I tried creating 2 separate securities with different names but the same ticker symbol, but Quicken wouldn’t load the 2nd security (no error message, but no new security appeared in the Security List either).

(Note: I am not interested in a discussion of alternatives to Quicken. I am not changing to another app/software.)

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LadyGeek
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Re: Quicken 2019 and forward

Post by LadyGeek » Sat Jun 06, 2020 3:06 pm

^^^ I merged delamer's question into the on-going discussion.
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stan1
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Re: Quicken: One Security, two goals?

Post by stan1 » Sat Jun 06, 2020 3:13 pm

delamer wrote:
Sat Jun 06, 2020 11:45 am
Fellow Quicken users —

I am using the latest version of Quicken Deluxe.

I have the same mutual fund in both an IRA and in a taxable brokerage account. As you know, Quicken allows you to assign one “goal” to each security. In this case, though, I’d like the fund in the IRA to have a different goal than the fund in taxable account.

Is there any work-around? I tried creating 2 separate securities with different names but the same ticker symbol, but Quicken wouldn’t load the 2nd security (no error message, but no new security appeared in the Security List either).

(Note: I am not interested in a discussion of alternatives to Quicken. I am not changing to another app/software.)
Could you use investor share ticker for one and admiral share ticker for the other (if Vanguard)? You'd lose the benefit of automated downloads but depending upon whether you are reinvesting dividends or adding more to the holdings that may not be a major issue.

Or you could use a different fund in the tax deferred account if setting up the goal is very important. For example Vanguard Large Cap and Vanguard Index 500 are so similar you won't know which will perform slightly better than the other until after the fact.

Hopefully others have cleaner ideas for you.

delamer
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Re: Quicken: One Security, two goals?

Post by delamer » Sat Jun 06, 2020 10:58 pm

stan1 wrote:
Sat Jun 06, 2020 3:13 pm
delamer wrote:
Sat Jun 06, 2020 11:45 am
Fellow Quicken users —

I am using the latest version of Quicken Deluxe.

I have the same mutual fund in both an IRA and in a taxable brokerage account. As you know, Quicken allows you to assign one “goal” to each security. In this case, though, I’d like the fund in the IRA to have a different goal than the fund in taxable account.

Is there any work-around? I tried creating 2 separate securities with different names but the same ticker symbol, but Quicken wouldn’t load the 2nd security (no error message, but no new security appeared in the Security List either).

(Note: I am not interested in a discussion of alternatives to Quicken. I am not changing to another app/software.)
Could you use investor share ticker for one and admiral share ticker for the other (if Vanguard)? You'd lose the benefit of automated downloads but depending upon whether you are reinvesting dividends or adding more to the holdings that may not be a major issue.

Or you could use a different fund in the tax deferred account if setting up the goal is very important. For example Vanguard Large Cap and Vanguard Index 500 are so similar you won't know which will perform slightly better than the other until after the fact.

Hopefully others have cleaner ideas for you.
Neither of those options is possible, but thanks for responding.

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