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
Posts: 10837
Joined: Thu Oct 15, 2015 3:53 pm

Re: Quicken 2019 and forward

Post by michaeljc70 »

jajlrajrf wrote: Tue Jul 21, 2020 8:59 am
J G Bankerton wrote: Wed Jul 15, 2020 11:02 pmI tried to export it to Moneydance. It was a mess. I paid $40 for it too. If I was starting new I would chose Moneydance over Quicken but I'm 20 years too late for that.
Just pick a date to do the cutover; anything pre-that date is in Quicken, anything post that date is in Moneydance (or whatever else you're using; I did this when migrating to Gnucash.). It's even easier if you can do the cutover on January 1st, but honestly how often do you REALLY need to find out how much you paid for a Toro lawnmower in March of 2003?
Not often, but once in a while. I also like to compare my expenses over time and investment performance over time. I have data going back to 1994. I wouldn't die without the data, but I wouldn't give it up to go to MoneyDance. I tried it and didn't really like it. Quicken is far from perfect, but the alternatives I tried were disappointing to me.
jajlrajrf
Posts: 180
Joined: Sun Feb 09, 2020 5:15 pm

Re: Quicken 2019 and forward

Post by jajlrajrf »

Sure, if you don't like the alternatives, no reason to switch. My meta-point is that if you find something that you like better, go ahead and make the switch and just keep your old copy of quicken around for historical access to the old stuff when you need it. There's really no point to migrating the data beyond feeling type A about it, and in fact migration probably increases your risk of errors.
michaeljc70 wrote:I have data going back to 1994. I wouldn't die without the data, but I wouldn't give it up to go to MoneyDance.
IMO your bookkeeping program is the wrong place to keep historical data past the current or past few accounting periods, because it's inherently fragile and contains detail that you basically don't want. If I cared about this level of analysis, I'd do an end-of-year rollup each year to Excel with basically the values of each asset, liability, income, and expense account. In 2020 I might care to know that I spent $6000 / year on groceries in 2005; I don't need to know that I bought a pack of Cheesy Poofs at the 7-11 on March 23, 2005 for $2.99.
Last edited by jajlrajrf on Tue Jul 21, 2020 9:42 am, edited 2 times in total.
michaeljc70
Posts: 10837
Joined: Thu Oct 15, 2015 3:53 pm

Re: Quicken 2019 and forward

Post by michaeljc70 »

jajlrajrf wrote: Tue Jul 21, 2020 9:37 am Sure, if you don't like the alternatives, no reason to switch. My meta-point is that if you find something that you like better, go ahead and make the switch and just keep your old copy of quicken around for historical access to the old stuff when you need it. There's really no point to migrating the data beyond feeling type A about it, and in fact migration probably increases your risk of errors.
Yes. When I did the import into MoneyDance there were so many problems it would have taken me a month to try and fix them all. Starting over seemed like the best option.
protagonist
Posts: 9242
Joined: Sun Dec 26, 2010 11:47 am

Re: Quicken 2019 and forward

Post by protagonist »

I use a copy of Quicken 2017 that I bought on eBay (I replaced an old copy of Quicken 2010 that no longer worked when I bought a new computer).
Other than not wanting to be locked into the "subscription model" and also the associated potential security issues, I feel loading my own data monthly and having it all on my home computer is both safer (you catch your mistakes) and also a better way to stay on top of your finances. It only takes a short amount of time per month and it has the same advantage as balancing your checkbook. If everything is automatic you get lazy. If you do it manually you know what is going on.
jajlrajrf
Posts: 180
Joined: Sun Feb 09, 2020 5:15 pm

Re: Quicken 2019 and forward

Post by jajlrajrf »

I've tried virtually every personal finance software known to man on Mac, and many on Windows. I have strong opinions.

None of them are perfect. If you care about accuracy to the penny, investment tracking, and the ability to model cash flows, the only real choices are Gnucash and (to a lesser extent) kMyMoney; there's also plain text accounting software like Ledger or Beancount, but my personal opinion is that they are (1) really really nifty but (2) don't scale past a few transactions a day. If you don't care about investment tracking (seems unlikely for Bogleheads) then a bunch of the accounting packages (eg QuickBooks) become viable. If you don't care about being able to model cash flows, then you can consider one of the single-entry packages (Quicken, Banktivity, Moneydance, Moneyspire, probably hundreds of others), most of which are more alike to each other than different. Moneydance is full-featured enough that it's probably my go-to recommendation for someone who doesn't need Gnucash-like levels of power.
User avatar
J G Bankerton
Posts: 2182
Joined: Thu Sep 14, 2017 3:30 pm

Re: Quicken 2019 and forward

Post by J G Bankerton »

jajlrajrf wrote: Tue Jul 21, 2020 8:59 am ...even easier if you can do the cutover on January 1st, but honestly how often do you REALLY need to find out how much you paid for a Toro lawnmower in March of 2003?
It's like a walk down memory lane. I'm a bit of a hoarder, I can't throw things away even if there is a one in a thousand chance I may need it. Do you need an oil filter for a 2000 Plymouth Voyager? It has never been used. :?
User avatar
bertilak
Posts: 10711
Joined: Tue Aug 02, 2011 5:23 pm
Location: East of the Pecos, West of the Mississippi

Re: Quicken 2019 and forward

Post by bertilak »

J G Bankerton wrote: Tue Jul 21, 2020 12:09 pm It's like a walk down memory lane. I'm a bit of a hoarder, I can't throw things away even if there is a one in a thousand chance I may need it. Do you need an oil filter for a 2000 Plymouth Voyager? It has never been used. :?
Put it on Ebay. You could make a couple of dollars while cleaning out the clutter. :happy
May neither drought nor rain nor blizzard disturb the joy juice in your gizzard. -- Squire Omar Barker (aka S.O.B.), the Cowboy Poet
User avatar
J G Bankerton
Posts: 2182
Joined: Thu Sep 14, 2017 3:30 pm

Re: Quicken 2019 and forward

Post by J G Bankerton »

bertilak wrote: Tue Jul 21, 2020 12:35 pm
J G Bankerton wrote: Tue Jul 21, 2020 12:09 pm It's like a walk down memory lane. I'm a bit of a hoarder, I can't throw things away even if there is a one in a thousand chance I may need it. Do you need an oil filter for a 2000 Plymouth Voyager? It has never been used. :?
Put it on Ebay. You could make a couple of dollars while cleaning out the clutter. :happy
I find I can give stuff away to the Salvation Army but find it hard to throw it away. I don't think the Salvation Army would take my old Quicken entries.

I will give Quicken credit, it has worked without problems for almost a month. There some interesting things in it beyond being a checkbook. If I can get a renewal for $20 or so I'll keep using it.

Turbo Tax; I don't mind paying big bucks every year because the program works and is rewritten every year. It also allows 5 different users on one license.
User avatar
J G Bankerton
Posts: 2182
Joined: Thu Sep 14, 2017 3:30 pm

Re: Quicken 2019 and forward

Post by J G Bankerton »

Computer glitch. :oops:
spammagnet
Posts: 2477
Joined: Wed Apr 27, 2016 9:42 pm

Re: Quicken 2019 and forward

Post by spammagnet »

J G Bankerton wrote: Mon Jul 20, 2020 11:33 am
michaeljc70 wrote: Mon Jul 20, 2020 11:04 amIs anyone else having the issue that when they do a One Step Update it doesn't download stock quotes? It is checked in the settings and says it on the screen but just doesn't do it most of the time since the last update. When I do the manual update (from the portfolio view) it works fine.
That happens to me all the time with one step update. With manual update it works once or twice then it doesn't work. It appears Quicken is limiting the times one can do an update.
That was a bug and has been fixed in the most recent update. If you haven't installed the software update yet, the workaround is to update quotes only, after a One-Step transaction update.
michaeljc70
Posts: 10837
Joined: Thu Oct 15, 2015 3:53 pm

Re: Quicken 2019 and forward

Post by michaeljc70 »

spammagnet wrote: Sun Jul 26, 2020 11:25 pm
J G Bankerton wrote: Mon Jul 20, 2020 11:33 am
michaeljc70 wrote: Mon Jul 20, 2020 11:04 amIs anyone else having the issue that when they do a One Step Update it doesn't download stock quotes? It is checked in the settings and says it on the screen but just doesn't do it most of the time since the last update. When I do the manual update (from the portfolio view) it works fine.
That happens to me all the time with one step update. With manual update it works once or twice then it doesn't work. It appears Quicken is limiting the times one can do an update.
That was a bug and has been fixed in the most recent update. If you haven't installed the software update yet, the workaround is to update quotes only, after a One-Step transaction update.
Thanks. I guess I turned off automatic updates and was several versions behind. The updates were getting pretty frequent. I counted 16 this year.
User avatar
J G Bankerton
Posts: 2182
Joined: Thu Sep 14, 2017 3:30 pm

Re: Quicken 2019 and forward

Post by J G Bankerton »

spammagnet wrote: Sun Jul 26, 2020 11:25 pm
J G Bankerton wrote: Mon Jul 20, 2020 11:33 am
michaeljc70 wrote: Mon Jul 20, 2020 11:04 amIs anyone else having the issue that when they do a One Step Update it doesn't download stock quotes? It is checked in the settings and says it on the screen but just doesn't do it most of the time since the last update. When I do the manual update (from the portfolio view) it works fine.
That happens to me all the time with one step update. With manual update it works once or twice then it doesn't work. It appears Quicken is limiting the times one can do an update.
That was a bug and has been fixed in the most recent update. If you haven't installed the software update yet, the workaround is to update quotes only, after a One-Step transaction update.
What is happening is if I manually enter a price Quicken will not update that security for the rest of the day.
michaeljc70 wrote: Mon Jul 27, 2020 7:57 am Thanks. I guess I turned off automatic updates and was several versions behind. The updates were getting pretty frequent. I counted 16 this year.
Quicken wants to make it look like they are giving us our money's worth; I let Quicken up date as it likes and never see anything new.
User avatar
abuss368
Posts: 27850
Joined: Mon Aug 03, 2009 2:33 pm
Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!
Contact:

Re: Quicken 2019 and forward

Post by abuss368 »

Has Quicken transitioned to the cloud yet or is it a downloadable program?
John C. Bogle: “Simplicity is the master key to financial success."
User avatar
J G Bankerton
Posts: 2182
Joined: Thu Sep 14, 2017 3:30 pm

Re: Quicken 2019 and forward

Post by J G Bankerton »

abuss368 wrote: Mon Jul 27, 2020 5:12 pm Has Quicken transitioned to the cloud yet or is it a downloadable program?
It may be both. I have it on my PC and haven't signed up for the free cloud.
User avatar
CardinalRule
Posts: 1197
Joined: Sun Jan 15, 2017 10:01 am
Location: United States

Re: Quicken 2019 and forward

Post by CardinalRule »

abuss368 wrote: Mon Jul 27, 2020 5:12 pm Has Quicken transitioned to the cloud yet or is it a downloadable program?
I think that the subscription model is sometimes misunderstood. Quicken is still a desktop program that you have to download and install, and your data is still stored on your computer. There is an optional cloud sync feature that may be useful if you want to use the Quicken mobile app, but I have zero interest in this. I want my data kept local (well, aside from my general, encrypted IDrive backups) and that is where it is.
User avatar
abuss368
Posts: 27850
Joined: Mon Aug 03, 2009 2:33 pm
Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!
Contact:

Re: Quicken 2019 and forward

Post by abuss368 »

CardinalRule wrote: Mon Jul 27, 2020 6:22 pm
abuss368 wrote: Mon Jul 27, 2020 5:12 pm Has Quicken transitioned to the cloud yet or is it a downloadable program?
I think that the subscription model is sometimes misunderstood. Quicken is still a desktop program that you have to download and install, and your data is still stored on your computer. There is an optional cloud sync feature that may be useful if you want to use the Quicken mobile app, but I have zero interest in this. I want my data kept local (well, aside from my general, encrypted IDrive backups) and that is where it is.
Many thanks! I focused on simplicity many years ago and streamlined everything where I no longer had any need for Quicken.
John C. Bogle: “Simplicity is the master key to financial success."
spammagnet
Posts: 2477
Joined: Wed Apr 27, 2016 9:42 pm

Re: Quicken 2019 and forward

Post by spammagnet »

J G Bankerton wrote: Mon Jul 27, 2020 5:08 pm
spammagnet wrote: Sun Jul 26, 2020 11:25 pm... That was a bug and has been fixed in the most recent update. If you haven't installed the software update yet, the workaround is to update quotes only, after a One-Step transaction update.
What is happening is if I manually enter a price Quicken will not update that security for the rest of the day.
I have observed the same issue. The recent fix did not address it.
User avatar
J G Bankerton
Posts: 2182
Joined: Thu Sep 14, 2017 3:30 pm

Re: Quicken 2019 and forward

Post by J G Bankerton »

spammagnet wrote: Mon Jul 27, 2020 6:51 pm
J G Bankerton wrote: Mon Jul 27, 2020 5:08 pm
spammagnet wrote: Sun Jul 26, 2020 11:25 pm... That was a bug and has been fixed in the most recent update. If you haven't installed the software update yet, the workaround is to update quotes only, after a One-Step transaction update.
What is happening is if I manually enter a price Quicken will not update that security for the rest of the day.
I have observed the same issue. The recent fix did not address it.
That is a feature not a bug? :wink:
rivercrosser
Posts: 348
Joined: Thu Oct 31, 2019 3:48 pm

Re: Quicken 2019 and forward

Post by rivercrosser »

CardinalRule wrote: Mon Jul 27, 2020 6:22 pm
abuss368 wrote: Mon Jul 27, 2020 5:12 pm Has Quicken transitioned to the cloud yet or is it a downloadable program?
I think that the subscription model is sometimes misunderstood. Quicken is still a desktop program that you have to download and install, and your data is still stored on your computer. There is an optional cloud sync feature that may be useful if you want to use the Quicken mobile app, but I have zero interest in this. I want my data kept local (well, aside from my general, encrypted IDrive backups) and that is where it is.
You get some free storage on DropBox with your Quicken supscription. I use to back up my Quicken file and my documents folder. I have a raid mirror system and a external hard drive, but if the house burns down thats all gone.
User avatar
J G Bankerton
Posts: 2182
Joined: Thu Sep 14, 2017 3:30 pm

Re: Quicken 2019 and forward

Post by J G Bankerton »

rivercrosser wrote: Mon Jul 27, 2020 8:42 pm You get some free storage on DropBox with your Quicken supscription. I use to back up my Quicken file and my documents folder. I have a raid mirror system and a external hard drive, but if the house burns down thats all gone.
I have a backup buried in the back with the gold but don't tell anybody.
michaeljc70
Posts: 10837
Joined: Thu Oct 15, 2015 3:53 pm

Re: Quicken 2019 and forward

Post by michaeljc70 »

J G Bankerton wrote: Mon Jul 27, 2020 5:08 pm
spammagnet wrote: Sun Jul 26, 2020 11:25 pm
J G Bankerton wrote: Mon Jul 20, 2020 11:33 am
michaeljc70 wrote: Mon Jul 20, 2020 11:04 amIs anyone else having the issue that when they do a One Step Update it doesn't download stock quotes? It is checked in the settings and says it on the screen but just doesn't do it most of the time since the last update. When I do the manual update (from the portfolio view) it works fine.
That happens to me all the time with one step update. With manual update it works once or twice then it doesn't work. It appears Quicken is limiting the times one can do an update.
That was a bug and has been fixed in the most recent update. If you haven't installed the software update yet, the workaround is to update quotes only, after a One-Step transaction update.
What is happening is if I manually enter a price Quicken will not update that security for the rest of the day.
michaeljc70 wrote: Mon Jul 27, 2020 7:57 am Thanks. I guess I turned off automatic updates and was several versions behind. The updates were getting pretty frequent. I counted 16 this year.
Quicken wants to make it look like they are giving us our money's worth; I let Quicken up date as it likes and never see anything new.
Yep. But my experience has been some of the fixes break other things and "enhancements" are to make them more money. Today I noticed for the first time under Reports-Investing a report called "Investing Activity". There is a button to upgrade to Premier to get this report.
Silk McCue
Posts: 8912
Joined: Thu Feb 25, 2016 6:11 pm

Re: Quicken 2019 and forward

Post by Silk McCue »

michaeljc70 wrote: Tue Jul 28, 2020 8:28 am Yep. But my experience has been some of the fixes break other things and "enhancements" are to make them more money. Today I noticed for the first time under Reports-Investing a report called "Investing Activity". There is a button to upgrade to Premier to get this report.
It is shocking that a capitalistic company with different levels of a product line would try to entice you to upgrade to a version with more advanced features that you might actually benefit from.

I have seen zero intentional breakage of features caused by updates that were designed to make me upgrade to higher level than Deluxe. They have done great work on the product over the past few years.

Cheers
michaeljc70
Posts: 10837
Joined: Thu Oct 15, 2015 3:53 pm

Re: Quicken 2019 and forward

Post by michaeljc70 »

Silk McCue wrote: Tue Jul 28, 2020 8:46 am
michaeljc70 wrote: Tue Jul 28, 2020 8:28 am Yep. But my experience has been some of the fixes break other things and "enhancements" are to make them more money. Today I noticed for the first time under Reports-Investing a report called "Investing Activity". There is a button to upgrade to Premier to get this report.
It is shocking that a capitalistic company with different levels of a product line would try to entice you to upgrade to a version with more advanced features that you might actually benefit from.


I have seen zero intentional breakage of features caused by updates that were designed to make me upgrade to higher level than Deluxe. They have done great work on the product over the past few years.
No, but when it becomes invasive I have a problem with it (I'm not saying they are at that point yet). It can clutter up the interface. The claim by some was that paying a subscription fee would result in great enhancements to the product. I haven't seen one useful feature (to me) added in many years and any defects should have been their responsibility to fix for free. I have seen useful features removed. It is what it is and I deal with it due to a lack of good alternatives.

I haven't heard anyone say they are intentionally breaking anything.
DJZ
Posts: 158
Joined: Fri Jul 03, 2020 6:42 pm

Re: Quicken 2019 and forward

Post by DJZ »

I generally hate the subscription model too, but I’m completely happy with it for Quicken; it’s worth it to me. I have used it for more than 20 years. Perhaps it’s not a “feature” but for more than a year now they have a version for the Mac that is excellent. Quicken was, for a while, the only Windows program that I really needed. I actually ran the Windows version in a VirtualBox window for a while, what a pain. I’m really happy with the Mac version, and especially that I no longer need any Windows computers.
teamDE
Posts: 503
Joined: Tue Jun 28, 2016 9:16 pm

Re: Quicken 2019 and forward

Post by teamDE »

I'm getting fed up with Quicken. Nothing ever works. Banks won't connect, transactions won't match, stock/buy sell lot info isn't right, tax info isn't right, even balances aren't reconciling right. I can't trust anything its telling me.

I don't think i'm willing to put in the daily effort to maintain this thing.
User avatar
J G Bankerton
Posts: 2182
Joined: Thu Sep 14, 2017 3:30 pm

Re: Quicken 2019 and forward

Post by J G Bankerton »

teamDE wrote: Tue Jul 28, 2020 2:06 pm I don't think i'm willing to put in the daily effort to maintain this thing.
Daily attention is what it takes. I have learned what to let it enter and what to delete before it does. It doesn't do wash sales and it doesn't show dividends as gains, it shows them as purchases.

I have learned what to ignore.
acegolfer
Posts: 3029
Joined: Tue Aug 25, 2009 9:40 am

Re: Quicken 2019 and forward

Post by acegolfer »

J G Bankerton wrote: Tue Jul 28, 2020 3:31 pm
teamDE wrote: Tue Jul 28, 2020 2:06 pm I don't think i'm willing to put in the daily effort to maintain this thing.
Daily attention is what it takes. I have learned what to let it enter and what to delete before it does. It doesn't do wash sales and it doesn't show dividends as gains, it shows them as purchases.

I have learned what to ignore.
Weird. When I used 2016 version, it correctly recognized dividend reinvestment as dividend income. It's not a capital gain, though.
User avatar
TimeRunner
Posts: 1938
Joined: Sat Dec 29, 2012 8:23 pm
Location: Beach-side, CA

Re: Quicken 2019 and forward

Post by TimeRunner »

I use Quicken after migrating to Moneydance and migrating back to Quicken. I track checking and CMA accounts and a couple of credit cards. I use the categories to track spending, including tax categories for tax filing. While I download investment account info and eyeball it, I rely on a Google sheet and Vanguard and Fido websites to track transactions, unrealized/realized gains, dividends, etc. The websites are authoritative, whereas Quicken takes work to make every transaction perfectly match. That's not worth my time, IMO. I also don't bother with budgeting as my spending is relatively uncomplicated and self-constraining. Within these constraints, Quicken works fine for me.

I use another Quicken file to track Schwab trust checking and Chase credit card account for my Mom as I manage her finances and pay her bills. I don't even bother downloading her Schwab investment account. Schwab's website and a Google sheet keep that very simple. Again, no Quicken maintenance needed in this use case.
One cannot enlighten the unconscious. | "All I need are some tasty waves, a cool buzz, and I'm fine." -Jeff Spicoli
User avatar
J G Bankerton
Posts: 2182
Joined: Thu Sep 14, 2017 3:30 pm

Re: Quicken 2019 and forward

Post by J G Bankerton »

acegolfer wrote: Tue Jul 28, 2020 4:36 pm
J G Bankerton wrote: Tue Jul 28, 2020 3:31 pm
teamDE wrote: Tue Jul 28, 2020 2:06 pm I don't think i'm willing to put in the daily effort to maintain this thing.
Daily attention is what it takes. I have learned what to let it enter and what to delete before it does. It doesn't do wash sales and it doesn't show dividends as gains, it shows them as purchases.

I have learned what to ignore.
Weird. When I used 2016 version, it correctly recognized dividend reinvestment as dividend income. It's not a capital gain, though.
What Quicken does is put dividends in the cost basis when they are reinvested. This is technically correct but it screws up my return percent. Vanguard shows them as part of my "Investment returns". Does Quicken show "Investment returns"?
User avatar
CardinalRule
Posts: 1197
Joined: Sun Jan 15, 2017 10:01 am
Location: United States

Re: Quicken 2019 and forward

Post by CardinalRule »

acegolfer wrote: Tue Jul 28, 2020 4:36 pm
J G Bankerton wrote: Tue Jul 28, 2020 3:31 pm
teamDE wrote: Tue Jul 28, 2020 2:06 pm I don't think i'm willing to put in the daily effort to maintain this thing.
Daily attention is what it takes. I have learned what to let it enter and what to delete before it does. It doesn't do wash sales and it doesn't show dividends as gains, it shows them as purchases.

I have learned what to ignore.
Weird. When I used 2016 version, it correctly recognized dividend reinvestment as dividend income. It's not a capital gain, though.
I don’t have any problems with downloading dividends or interest, and my Quicken (current version) handles reinvestment just fine, for four different brokerages. About the only thing it does not do well, for investments, is option assignments.
User avatar
Kenkat
Posts: 9539
Joined: Thu Mar 01, 2007 10:18 am
Location: Cincinnati, OH

Re: Quicken 2019 and forward

Post by Kenkat »

J G Bankerton wrote: Tue Jul 28, 2020 6:24 pm
acegolfer wrote: Tue Jul 28, 2020 4:36 pm
J G Bankerton wrote: Tue Jul 28, 2020 3:31 pm
teamDE wrote: Tue Jul 28, 2020 2:06 pm I don't think i'm willing to put in the daily effort to maintain this thing.
Daily attention is what it takes. I have learned what to let it enter and what to delete before it does. It doesn't do wash sales and it doesn't show dividends as gains, it shows them as purchases.

I have learned what to ignore.
Weird. When I used 2016 version, it correctly recognized dividend reinvestment as dividend income. It's not a capital gain, though.
What Quicken does is put dividends in the cost basis when they are reinvested. This is technically correct but it screws up my return percent. Vanguard shows them as part of my "Investment returns". Does Quicken show "Investment returns"?
The percent you see in the Portfolio view is just the percent gain over the cost basis. You can run an Investment Performance report and Quicken will correctly calculate the investment gain or loss.
User avatar
J G Bankerton
Posts: 2182
Joined: Thu Sep 14, 2017 3:30 pm

Re: Quicken 2019 and forward

Post by J G Bankerton »

Kenkat wrote: Tue Jul 28, 2020 6:59 pm The percent you see in the Portfolio view is just the percent gain over the cost basis. You can run an Investment Performance report and Quicken will correctly calculate the investment gain or loss.
Excellent; For three accounts Quicken figured it out to the penny. For my main account it didn't include when I invested directly with the Vanguard funds. It starts where I converted to a brokerage account.

Does Quicken do wash sales?
User avatar
Kenkat
Posts: 9539
Joined: Thu Mar 01, 2007 10:18 am
Location: Cincinnati, OH

Re: Quicken 2019 and forward

Post by Kenkat »

J G Bankerton wrote: Tue Jul 28, 2020 7:17 pm
Kenkat wrote: Tue Jul 28, 2020 6:59 pm The percent you see in the Portfolio view is just the percent gain over the cost basis. You can run an Investment Performance report and Quicken will correctly calculate the investment gain or loss.
Excellent; For three accounts Quicken figured it out to the penny. For my main account it didn't include when I invested directly with the Vanguard funds. It starts where I converted to a brokerage account.

Does Quicken do wash sales?
Not sure about the wash sales. I don’t think so but I’ve never really had that come up for me.

I know when I converted from a regular mutual fund account to a brokerage account, it only pulled in so many years of transaction history (I think it was five?) so I did lose some ability to report across the old account / new account boundary. It did save all of the detail under the old account so I didn’t lose it at least.
teamDE
Posts: 503
Joined: Tue Jun 28, 2016 9:16 pm

Re: Quicken 2019 and forward

Post by teamDE »

TimeRunner wrote: Tue Jul 28, 2020 4:52 pm I use Quicken after migrating to Moneydance and migrating back to Quicken. I track checking and CMA accounts and a couple of credit cards. I use the categories to track spending, including tax categories for tax filing. While I download investment account info and eyeball it, I rely on a Google sheet and Vanguard and Fido websites to track transactions, unrealized/realized gains, dividends, etc. The websites are authoritative, whereas Quicken takes work to make every transaction perfectly match. That's not worth my time, IMO. I also don't bother with budgeting as my spending is relatively uncomplicated and self-constraining. Within these constraints, Quicken works fine for me.

I use another Quicken file to track Schwab trust checking and Chase credit card account for my Mom as I manage her finances and pay her bills. I don't even bother downloading her Schwab investment account. Schwab's website and a Google sheet keep that very simple. Again, no Quicken maintenance needed in this use case.
This pretty much my scenario and what is driving me away from Quicken. Why bother if i have to use each financial institution's website for the truth anyway? For a simple overview plus asset allocation checking, Personal Capital is perfect. Granted it has its own cons, but its the product i think i want.
User avatar
CardinalRule
Posts: 1197
Joined: Sun Jan 15, 2017 10:01 am
Location: United States

Re: Quicken 2019 and forward

Post by CardinalRule »

Kenkat wrote: Wed Jul 29, 2020 10:21 am
J G Bankerton wrote: Tue Jul 28, 2020 7:17 pm
Kenkat wrote: Tue Jul 28, 2020 6:59 pm The percent you see in the Portfolio view is just the percent gain over the cost basis. You can run an Investment Performance report and Quicken will correctly calculate the investment gain or loss.
Excellent; For three accounts Quicken figured it out to the penny. For my main account it didn't include when I invested directly with the Vanguard funds. It starts where I converted to a brokerage account.

Does Quicken do wash sales?
Not sure about the wash sales. I don’t think so but I’ve never really had that come up for me.
Not a common thing for me either but the program doesn't really handle them, at least not automatically. I think I've manually adjusted the commissions field to true up the cost basis, similar to what I've done for option assignments.

Now available in beta, "simple investing." I wonder who the target audience is for this? :confused

Image
michaeljc70
Posts: 10837
Joined: Thu Oct 15, 2015 3:53 pm

Re: Quicken 2019 and forward

Post by michaeljc70 »

CardinalRule wrote: Tue Aug 04, 2020 8:43 am
Kenkat wrote: Wed Jul 29, 2020 10:21 am
J G Bankerton wrote: Tue Jul 28, 2020 7:17 pm
Kenkat wrote: Tue Jul 28, 2020 6:59 pm The percent you see in the Portfolio view is just the percent gain over the cost basis. You can run an Investment Performance report and Quicken will correctly calculate the investment gain or loss.
Excellent; For three accounts Quicken figured it out to the penny. For my main account it didn't include when I invested directly with the Vanguard funds. It starts where I converted to a brokerage account.

Does Quicken do wash sales?
Not sure about the wash sales. I don’t think so but I’ve never really had that come up for me.
Not a common thing for me either but the program doesn't really handle them, at least not automatically. I think I've manually adjusted the commissions field to true up the cost basis, similar to what I've done for option assignments.

Now available in beta, "simple investing." I wonder who the target audience is for this? :confused

Image
Not sure. If I am not going to track capital gains or investment income I probably am not going to be using Quicken.

As to the wash sale thing, there are disputes on here from time to time as to what even qualifies as a wash sale. Obviously buying the exact same security qualifies and it could potentially handle that. It doesn't apply to retirement accounts and is probably rare enough in taxable accounts that they haven't bothered. I avoid them and never had to enter one in Quicken.
User avatar
CardinalRule
Posts: 1197
Joined: Sun Jan 15, 2017 10:01 am
Location: United States

Re: Quicken 2019 and forward

Post by CardinalRule »

michaeljc70 wrote: Tue Aug 04, 2020 9:08 am
CardinalRule wrote: Tue Aug 04, 2020 8:43 am
Kenkat wrote: Wed Jul 29, 2020 10:21 am
J G Bankerton wrote: Tue Jul 28, 2020 7:17 pm
Kenkat wrote: Tue Jul 28, 2020 6:59 pm The percent you see in the Portfolio view is just the percent gain over the cost basis. You can run an Investment Performance report and Quicken will correctly calculate the investment gain or loss.
Excellent; For three accounts Quicken figured it out to the penny. For my main account it didn't include when I invested directly with the Vanguard funds. It starts where I converted to a brokerage account.

Does Quicken do wash sales?
Not sure about the wash sales. I don’t think so but I’ve never really had that come up for me.
Not a common thing for me either but the program doesn't really handle them, at least not automatically. I think I've manually adjusted the commissions field to true up the cost basis, similar to what I've done for option assignments.

Now available in beta, "simple investing." I wonder who the target audience is for this? :confused

Image
Not sure. If I am not going to track capital gains or investment income I probably am not going to be using Quicken.

As to the wash sale thing, there are disputes on here from time to time as to what even qualifies as a wash sale. Obviously buying the exact same security qualifies and it could potentially handle that. It doesn't apply to retirement accounts and is probably rare enough in taxable accounts that they haven't bothered. I avoid them and never had to enter one in Quicken.
I noticed today that when I did a program update, the program said that "Simple Investing " is no longer in beta. It is now a standard feature and will be the default investment tracking for new users. Complete Investing will still be the default for existing users." :confused
User avatar
oncorhynchus
Posts: 196
Joined: Fri May 23, 2014 2:30 pm

Re: Quicken 2019 and forward

Post by oncorhynchus »

J G Bankerton wrote: Mon Jul 27, 2020 8:06 pm
spammagnet wrote: Mon Jul 27, 2020 6:51 pm
J G Bankerton wrote: Mon Jul 27, 2020 5:08 pm
spammagnet wrote: Sun Jul 26, 2020 11:25 pm... That was a bug and has been fixed in the most recent update. If you haven't installed the software update yet, the workaround is to update quotes only, after a One-Step transaction update.
What is happening is if I manually enter a price Quicken will not update that security for the rest of the day.
I have observed the same issue. The recent fix did not address it.
That is a feature not a bug? :wink:
Legitimately not sure if feature or bug; can prevent accidental price overwrites vs. ease of editing.

Regardless, this issue can be addressed by going into the Security Detail View of the affected security and selecting "Edit price history" from the "More" dropdown menu on the upper right of the window. Then you can either manually edit the price, or delete it if you want "Quotes" to update it for you.

Hope this helps,

o
-- Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime. --
User avatar
LadyGeek
Site Admin
Posts: 95466
Joined: Sat Dec 20, 2008 4:34 pm
Location: Philadelphia
Contact:

Re: Quicken 2019 and forward

Post by LadyGeek »

LadyGeek wrote: Thu Jun 11, 2020 7:48 pm ...I've also noticed that the Quicken splash screen has recently changed. I just added my Fidelity HSA to Quicken, which is the first time I've had a Fidelity account in Quicken. The splash screen says "Connected to online services from: Fidelity (logo)".

You can find the splash screen:

- Navigate to the Quicken configuration folder, C:\ProgramData\Quicken\Config\
- Edit Quicken.ini, search for "Splash=" (path to file) <--- the splash image is here

Yes, the splash file image is dated from this time. I'm wondering how much Fidelity paid Quicken for that ad...
The last Quicken update removed the splash screen. The Quicken.ini has no entry for "Splash=" (blank). I don't know if it has anything to do with my subscription, as there's nothing in the Release Notes about it.

I was using my own image, but having no image is just fine by me.

This also suggests that removing the path to the image file (just "Splash=") will eliminate the spash screen image.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.
PaunchyPirate
Posts: 1157
Joined: Sun Nov 30, 2014 6:58 pm

Re: Quicken 2019 and forward

Post by PaunchyPirate »

LadyGeek wrote: Sat Nov 14, 2020 7:48 am
LadyGeek wrote: Thu Jun 11, 2020 7:48 pm ...I've also noticed that the Quicken splash screen has recently changed. I just added my Fidelity HSA to Quicken, which is the first time I've had a Fidelity account in Quicken. The splash screen says "Connected to online services from: Fidelity (logo)".

You can find the splash screen:

- Navigate to the Quicken configuration folder, C:\ProgramData\Quicken\Config\
- Edit Quicken.ini, search for "Splash=" (path to file) <--- the splash image is here

Yes, the splash file image is dated from this time. I'm wondering how much Fidelity paid Quicken for that ad...
The last Quicken update removed the splash screen. The Quicken.ini has no entry for "Splash=" (blank). I don't know if it has anything to do with my subscription, as there's nothing in the Release Notes about it.

I was using my own image, but having no image is just fine by me.

This also suggests that removing the path to the image file (just "Splash=") will eliminate the spash screen image.
Hmmmm. My Quicken did it's update this morning to Version R30.9 Build 27.1.30.9. I still have my Quicken Deluxe splash screen showing up on startup.
My quicken.ini file also has "Splash=" and "SplashExpired=".
User avatar
CardinalRule
Posts: 1197
Joined: Sun Jan 15, 2017 10:01 am
Location: United States

Re: Quicken 2019 and forward

Post by CardinalRule »

I still see a "connected to" splash also. Wells Fargo in my case.

Nothing in my quicken.ini file related to Splash.
User avatar
LadyGeek
Site Admin
Posts: 95466
Joined: Sat Dec 20, 2008 4:34 pm
Location: Philadelphia
Contact:

Re: Quicken 2019 and forward

Post by LadyGeek »

The behavior has changed during the update process. I rebooted my PC and the splash screen appeared. Restarting Quicken again, the Fidelity splash screen appeared.

Removing the path from "Splash=" in C:\ProgramData\Quicken\Config\QUICKEN.ini uses the default splash screen.

I see Splash.png in the Quicken install directory, but it's probably not worth it to pursue further. I just wanted to remove the Fidelity ad.

========================
More importantly, Vanguard has transitioned my account to the new brokerage platform. When I downloaded the files, my Quicken balance went to 0.00. Vanguard removed the shares from my account. :shock:

Looking at this online, a transaction confirmation notice was waiting for me. All OK online, they moved everything to a new account.

I downloaded the Quicken files from Vanguard, but Quicken refused to link the files to my existing (not brokerage) account. I'll have to setup a new Quicken account (one for traditional IRA, one for Roth IRA) :annoyed

On the plus side, I have User Agent authorization (POA) for my Mom's account. Those accounts haven't disappeared. Since she has no online account, they can't ask her to transition to the new platform. Let's see how this goes when they force everyone to migrate to the new platform.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.
stan1
Posts: 14235
Joined: Mon Oct 08, 2007 4:35 pm

Re: Quicken 2019 and forward

Post by stan1 »

Upgraded to R30.10 today. I downloaded the mondo patch from the Quicken website since R30.9 showed up a few times as an available update then disappeared.

The new custom asset classes are available in Deluxe contrary to a statement in the R30.9 release notes that it was only available in Premier. The implementation is straight out of a 1970s programming model: There are 10 additional asset classes (predefined as Custom1 through Custom10) that you can edit. You can select one of the custom asset classes as a single asset class or customize your own mixed asset class.

I reported a bug (incomplete implementation) to Quicken. On the Investing/Allocations tab there is a "Rebalance Portfolio" button which brings up a window and a table that shows how actual asset allocation differs from target asset allocation. This could be useful for some rebalancing, but the new custom asset classes are not included in the table. Maybe this is what is now a Premier feature since they consider it to be more advisory? Not sure?
BH13
Posts: 103
Joined: Thu Oct 20, 2011 2:38 pm

Re: Quicken 2019 and forward

Post by BH13 »

Quicken updated the Mac version to 6.0 today with support for both Big Sur and also Apple Silicon. The Quicken press release: https://www.prnewswire.com/news-release ... 76083.html
michaeljc70
Posts: 10837
Joined: Thu Oct 15, 2015 3:53 pm

Re: Quicken 2019 and forward

Post by michaeljc70 »

I got the new version. I don't really see using any of the new features. Schedule future check payments??? I've always entered future check payments and this adds very little to that. I wish they would add some useful features. I would love to see all the autopays on my credit cards recorded in my check register for planning purposes. Now I have to enter them all manually (or wait until after the payment has cleared). I tried the auto bill retrieve for my electric bill. Never worked once. Same for gas bill.
stan1
Posts: 14235
Joined: Mon Oct 08, 2007 4:35 pm

Re: Quicken 2019 and forward

Post by stan1 »

michaeljc70 wrote: Thu Nov 19, 2020 9:04 am I would love to see all the autopays on my credit cards recorded in my check register for planning purposes. Now I have to enter them all manually (or wait until after the payment has cleared).
Have you tried using Bill Reminders? There is an option to pay off credit card balance. It may work for you, although having tried it myself it didn't work exactly the way I wanted it to so I stopped using it.
michaeljc70
Posts: 10837
Joined: Thu Oct 15, 2015 3:53 pm

Re: Quicken 2019 and forward

Post by michaeljc70 »

stan1 wrote: Thu Nov 19, 2020 9:24 am
michaeljc70 wrote: Thu Nov 19, 2020 9:04 am I would love to see all the autopays on my credit cards recorded in my check register for planning purposes. Now I have to enter them all manually (or wait until after the payment has cleared).
Have you tried using Bill Reminders? There is an option to pay off credit card balance. It may work for you, although having tried it myself it didn't work exactly the way I wanted it to so I stopped using it.
From what I have read, it doesn't work right. It doesn't know the statement balance because it doesn't know the statement cutoff date. This varies slightly monthly (I think due to weekends or the cycle being 30 days). Unless I am missing something. The Quicken forums basically say you need to enter it manually if you want any kind of accuracy.
stan1
Posts: 14235
Joined: Mon Oct 08, 2007 4:35 pm

Re: Quicken 2019 and forward

Post by stan1 »

michaeljc70 wrote: Thu Nov 19, 2020 9:31 am
stan1 wrote: Thu Nov 19, 2020 9:24 am
michaeljc70 wrote: Thu Nov 19, 2020 9:04 am I would love to see all the autopays on my credit cards recorded in my check register for planning purposes. Now I have to enter them all manually (or wait until after the payment has cleared).
Have you tried using Bill Reminders? There is an option to pay off credit card balance. It may work for you, although having tried it myself it didn't work exactly the way I wanted it to so I stopped using it.
From what I have read, it doesn't work right. It doesn't know the statement balance because it doesn't know the statement cutoff date. This varies slightly monthly (I think due to weekends or the cycle being 30 days). Unless I am missing something. The Quicken forums basically say you need to enter it manually if you want any kind of accuracy.
I agree, it did not work for me. Would work better if the credit card auto pay was for the entire balance not the statement balance. Probably not making money on cash float these days. Easier just to leave an extra $1,000 buffer in the checking account and not worry about auto pays draining the account.
michaeljc70
Posts: 10837
Joined: Thu Oct 15, 2015 3:53 pm

Re: Quicken 2019 and forward

Post by michaeljc70 »

I don't know if anyone else has seen this, but Quicken has a new financial app called Simplifi. It is a subscription model ($4/mo) and it is geared toward iOS and Android although there is also a web version. I haven't used it, but it seems to be a gussied up (more graphic), simplified (less features) version of Quicken. It doesn't import Quicken data and I'm not sure how/if it handles investments. To me it looks more like a competitor to Mint or Personal Capital. But those are "free".

There is one short thread I found on it here: viewtopic.php?t=321333
User avatar
LadyGeek
Site Admin
Posts: 95466
Joined: Sat Dec 20, 2008 4:34 pm
Location: Philadelphia
Contact:

Re: Quicken 2019 and forward

Post by LadyGeek »

My Quicken subscription renewal is due in a few weeks. My PC does not have a CD-ROM drive and I'm having a difficult time finding an online download price less than the Quicken price of $51.99.

It might be worth it to simply let my subscription auto-renew. FYI - Quicken takes PayPal as a payment method.

(Alternatives to Quicken are discussed here: Quicken Alternatives)
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.
Post Reply