Quicken 2014


A

Andrew

Appears next month if on their usual schedule. Hope we'll see some
*meaningful* improvements. Anyone have a retail store date? (I always
buy it locally to support my local Staples).

Handling CDs would be nice, although if they haven't figured this out in
the 25 years I've been using Q, I don't hold out much hope now on that
one. Without meaningful competition in the desktop financial software
market, the term 'cash cow' comes to mind.
 
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S

Scott J

"Andrew" wrote:

Appears next month if on their usual schedule. Hope we'll see some
*meaningful* improvements. Anyone have a retail store date? (I always
buy it locally to support my local Staples).

Handling CDs would be nice, although if they haven't figured this out in
the 25 years I've been using Q, I don't hold out much hope now on that
one. Without meaningful competition in the desktop financial software
market, the term 'cash cow' comes to mind.
_________________________________________

I have several CDs in Quicken but don't see how they are mishandled.
Maybe I missed an earlier discussion. Ignorance is bliss, I guess.
 
A

Andrew

Scott said:
"Andrew" wrote:
Appears next month if on their usual schedule. Hope we'll see some
*meaningful* improvements. Anyone have a retail store date? (I always
buy it locally to support my local Staples).

Handling CDs would be nice, although if they haven't figured this out in
the 25 years I've been using Q, I don't hold out much hope now on that
one. Without meaningful competition in the desktop financial software
market, the term 'cash cow' comes to mind.
_________________________________________

I have several CDs in Quicken but don't see how they are mishandled.
Maybe I missed an earlier discussion. Ignorance is bliss, I guess.
Scott - how do you add interest that's been accrued in your CDs?
 
S

Scott J

"Andrew" wrote:

Scott said:
"Andrew" wrote:
Appears next month if on their usual schedule. Hope we'll see some
*meaningful* improvements. Anyone have a retail store date? (I always
buy it locally to support my local Staples).

Handling CDs would be nice, although if they haven't figured this out in
the 25 years I've been using Q, I don't hold out much hope now on that
one. Without meaningful competition in the desktop financial software
market, the term 'cash cow' comes to mind.
_________________________________________

I have several CDs in Quicken but don't see how they are mishandled.
Maybe I missed an earlier discussion. Ignorance is bliss, I guess.
Scott - how do you add interest that's been accrued in your CDs?

Regards -
- Andrew
__________________________________________

They are in various investment accounts (Trad IRA, SEP IRA, etc) and pay
interest every 6 months. I just record the interest as interest income
every 6 months. Usually, I record the interest perhaps 2 years into the
future so I have an idea of when and how much cash I'll have available to
reinvest, so, if I buy a 3% $10,000 CD on July 1, 2013, I'll record $150
interest immediately on 1/1/14, 7/1/14 and 1/1/15.

If by accrue you mean do I record monthly, no, I don't do that.
 
J

John Pollard

"Andrew" wrote

Appears next month if on their usual schedule. Hope we'll see some
*meaningful* improvements. Anyone have a retail store date? (I always
buy it locally to support my local Staples).

Handling CDs would be nice, although if they haven't figured this out in
the 25 years I've been using Q, I don't hold out much hope now on that
one. Without meaningful competition in the desktop financial software
market, the term 'cash cow' comes to mind.
---------------------------------------------------------------------

I don't think the imagined lack of competition plays any role in Intuit's
decision not to provide special handling for CD's.

For the over 15 years when Money was in direct comptetition, Quicken did not
provide any special processing for CD's. So it doesn't appear that
competition has been, or is, a significant motivator here.

And in the years since Money's demise, Intuit has added at least as many new
featurs - and arguably more new features - than they did when Money was in
business.

A few examples: since Money stopped being produced, Quicken has added a
mobile app, the ability to download to loan accounts, and a totally
rewritten budget process. To say nothing of a myriad of other, less
difficult additions.

The added features may not be the features you want, and they may not work
as well as they could/should; but all were asked for by Quicken users, and
each of them represents a very complex/expensive project. I think a closer
look at what has been done with Quicken since Money stopped being a
competitor is sufficient evidence that Intuit is not sitting back and
pretending that they have it made, just because Money no longer competes
directly.

And there are Money diehards who are stocking up on old hardware/software to
be able to continue to run Money 'til the cows come home - so even a
moribund Money is keeping potential Quicken users away from Quicken.

As to your specific CD complaint. I think the lack of special treatment for
CD's is a pure business decision by Intuit: it isn't a big enough benefit
for users, to warrant the cost of doing it.

CD's are not exactly a monolithic investment. Many (all of my) CD's are in
individual real-world bank accounts. But some users want to treat CD's as
securities in investment accounts. I don't see a one-size-fits-all approach
to that situation.

Note the Quicken "IRA account" conflict. A Quicken "IRA" account must be a
Quicken "investment" account. But not all real-world IRA holdings are in
real-world brokerage accounts. If you have a bank CD in your IRA holdings,
and your bank provides downloads to the CD account, you have to make a
choice: you can create a Quicken IRA account and manually maintain the CD
holdings in that account, or you can create a non-IRA (tax-deferred) Quicken
savings account and download your CD transactions.

And the fact that some banks do provide downloads to CD accounts, reduces
the need for users with that capability to have Quicken provide special
handling for those CD accounts ... which reduces the potential demand for
special CD treatment by Quicken. Something which I think Intuit is well
aware of.
 
R

R. C. White

Hi, John.

You've seen my mini-rants here about Quicken's inept handling of
Certificates of Deposit several times before. ;^}

After 20+ years of fighting it, I've become resigned (I suppose that is the
right word) to workarounds that get me the answers I need, although
clumsily. I haven't even tried to fight it recently, so my memory of just
where the hassles were - and still are - have faded somewhat. A couple that
come to mind:

1. Why must we treat a CD like a stock and say we purchased 100 units at
$100, or 10 units at $1,000, or 10,000 units at $1? This is not just
cosmetic; the choice of unit size constrains our entry of the interest rate
and other factors in recording - and managing - a CD. How do we make an
abysmal 0.50% interest rate look right on a $5,000 CD that pays only $2.50
per year?

2. As Andrew mentioned, there is no good (emphasize "good") way to record
monthly or other periodic compounding of interest for a CD that compounds.
And no good way to balance against the Form 1099 at the end of the year,
especially for a multi-year CD which might compound monthly - and report
that to the IRS annually - but doesn't pay off until maturity in some later
year.

3. For a CD that pays interest monthly in a check or direct deposit to a
checking account, there is no good way (that I have found - and I've looked
hard, many times) to simply record the _IntInc and simultaneously add it to
the cash or bank balance. Quicken doesn't like us using Scheduled
Transactions to move assets - or income - between Banking and Investment
accounts. For some CDs, I schedule the "banking" transaction and the "Skip"
it every month after manually recording the interest income. Otherwise,
Quicken does not know to "match" the income against the right CD. So I have
to use a Memorized Investment Transaction to record the interest income to
the correct CD, then make a Banking entry to move the proceeds from my
Undeposited Checks to the right checking account, or to my wife's Cash
account. And then go back and Skip the Scheduled transaction, which SHOULD
do all this for me, but will not.

Today my wife should receive a check in the mail for $26.50 for interest on
a small CD. (She refuses to use Direct Deposit or to carry an ATM card.) I
will need to:
a. Open my CDs account under Investing.
b. Use the Memorized Investment Transaction to record the Interest
Income, using the Transfer account, Undeposited Checks. Then, while she
waits for the $6 check on the other CD next week, I can adjust the amount of
my Scheduled Transaction for...
c. When the other check arrives, I can remind her until she remembers
to cash the two checks, then...
d. Use the Scheduled Transaction to move the money from Undeposited
Checks to her Cash account.
e. Skip the two Scheduled Transactions to record the two small
interest amounts. These are Banking transactions that will properly add the
checks to Undeposited Checks, but will record the interest to the "generic"
Interest Income category and will not match them to the specific CDs. (The
memorized INVESTMENT entry matches them, but the scheduled BANKING entry
does not.)
f. Later, after Q downloads the interest transaction, I have to go to
each CD in my More Accounts listing and accept the matching plus and minus
transactions that flow through and keep the balance of the CD at the right
constant principal amount.

Sorry, John. This was supposed to be a quick note but, as happens so often
with my posts, it is turning into a book. And I've said all this before, so
I'll shut up now. ;^}

RC
-- --
R. C. White, CPA
San Marcos, TX
(Retired. No longer licensed to practice public accounting.)
(e-mail address removed)
Microsoft Windows MVP (2002-2010)
(Using Quicken Deluxe 2013 R 12 and Windows Live Mail in Win8 x64)


"John Pollard" wrote in message
"Andrew" wrote

Appears next month if on their usual schedule. Hope we'll see some
*meaningful* improvements. Anyone have a retail store date? (I always
buy it locally to support my local Staples).

Handling CDs would be nice, although if they haven't figured this out in
the 25 years I've been using Q, I don't hold out much hope now on that
one. Without meaningful competition in the desktop financial software
market, the term 'cash cow' comes to mind.
---------------------------------------------------------------------

I don't think the imagined lack of competition plays any role in Intuit's
decision not to provide special handling for CD's.

For the over 15 years when Money was in direct comptetition, Quicken did not
provide any special processing for CD's. So it doesn't appear that
competition has been, or is, a significant motivator here.

And in the years since Money's demise, Intuit has added at least as many new
featurs - and arguably more new features - than they did when Money was in
business.

A few examples: since Money stopped being produced, Quicken has added a
mobile app, the ability to download to loan accounts, and a totally
rewritten budget process. To say nothing of a myriad of other, less
difficult additions.

The added features may not be the features you want, and they may not work
as well as they could/should; but all were asked for by Quicken users, and
each of them represents a very complex/expensive project. I think a closer
look at what has been done with Quicken since Money stopped being a
competitor is sufficient evidence that Intuit is not sitting back and
pretending that they have it made, just because Money no longer competes
directly.

And there are Money diehards who are stocking up on old hardware/software to
be able to continue to run Money 'til the cows come home - so even a
moribund Money is keeping potential Quicken users away from Quicken.

As to your specific CD complaint. I think the lack of special treatment for
CD's is a pure business decision by Intuit: it isn't a big enough benefit
for users, to warrant the cost of doing it.

CD's are not exactly a monolithic investment. Many (all of my) CD's are in
individual real-world bank accounts. But some users want to treat CD's as
securities in investment accounts. I don't see a one-size-fits-all approach
to that situation.

Note the Quicken "IRA account" conflict. A Quicken "IRA" account must be a
Quicken "investment" account. But not all real-world IRA holdings are in
real-world brokerage accounts. If you have a bank CD in your IRA holdings,
and your bank provides downloads to the CD account, you have to make a
choice: you can create a Quicken IRA account and manually maintain the CD
holdings in that account, or you can create a non-IRA (tax-deferred) Quicken
savings account and download your CD transactions.

And the fact that some banks do provide downloads to CD accounts, reduces
the need for users with that capability to have Quicken provide special
handling for those CD accounts ... which reduces the potential demand for
special CD treatment by Quicken. Something which I think Intuit is well
aware of.
 
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R

R. C. White

Oops! Even (retired) CPAs slip a decimal point now and then, especially
when discussing today's CD interest rates. :>(
0.50% interest rate...on a $5,000 CD that pays only $2.50 per year?
That rate would earn $25 - but we might get only 0.05% per year these days.
Or even 0.01%! That's a penny a year on a $100 investment! :>(

RC


"R. C. White" wrote in message

Hi, John.

You've seen my mini-rants here about Quicken's inept handling of
Certificates of Deposit several times before. ;^}

After 20+ years of fighting it, I've become resigned (I suppose that is the
right word) to workarounds that get me the answers I need, although
clumsily. I haven't even tried to fight it recently, so my memory of just
where the hassles were - and still are - have faded somewhat. A couple that
come to mind:

1. Why must we treat a CD like a stock and say we purchased 100 units at
$100, or 10 units at $1,000, or 10,000 units at $1? This is not just
cosmetic; the choice of unit size constrains our entry of the interest rate
and other factors in recording - and managing - a CD. How do we make an
abysmal 0.50% interest rate look right on a $5,000 CD that pays only $2.50
per year?

2. As Andrew mentioned, there is no good (emphasize "good") way to record
monthly or other periodic compounding of interest for a CD that compounds.
And no good way to balance against the Form 1099 at the end of the year,
especially for a multi-year CD which might compound monthly - and report
that to the IRS annually - but doesn't pay off until maturity in some later
year.

3. For a CD that pays interest monthly in a check or direct deposit to a
checking account, there is no good way (that I have found - and I've looked
hard, many times) to simply record the _IntInc and simultaneously add it to
the cash or bank balance. Quicken doesn't like us using Scheduled
Transactions to move assets - or income - between Banking and Investment
accounts. For some CDs, I schedule the "banking" transaction and the "Skip"
it every month after manually recording the interest income. Otherwise,
Quicken does not know to "match" the income against the right CD. So I have
to use a Memorized Investment Transaction to record the interest income to
the correct CD, then make a Banking entry to move the proceeds from my
Undeposited Checks to the right checking account, or to my wife's Cash
account. And then go back and Skip the Scheduled transaction, which SHOULD
do all this for me, but will not.

Today my wife should receive a check in the mail for $26.50 for interest on
a small CD. (She refuses to use Direct Deposit or to carry an ATM card.) I
will need to:
a. Open my CDs account under Investing.
b. Use the Memorized Investment Transaction to record the Interest
Income, using the Transfer account, Undeposited Checks. Then, while she
waits for the $6 check on the other CD next week, I can adjust the amount of
my Scheduled Transaction for...
c. When the other check arrives, I can remind her until she remembers
to cash the two checks, then...
d. Use the Scheduled Transaction to move the money from Undeposited
Checks to her Cash account.
e. Skip the two Scheduled Transactions to record the two small
interest amounts. These are Banking transactions that will properly add the
checks to Undeposited Checks, but will record the interest to the "generic"
Interest Income category and will not match them to the specific CDs. (The
memorized INVESTMENT entry matches them, but the scheduled BANKING entry
does not.)
f. Later, after Q downloads the interest transaction, I have to go to
each CD in my More Accounts listing and accept the matching plus and minus
transactions that flow through and keep the balance of the CD at the right
constant principal amount.

Sorry, John. This was supposed to be a quick note but, as happens so often
with my posts, it is turning into a book. And I've said all this before, so
I'll shut up now. ;^}

RC
-- --
R. C. White, CPA
San Marcos, TX
(Retired. No longer licensed to practice public accounting.)
(e-mail address removed)
Microsoft Windows MVP (2002-2010)
(Using Quicken Deluxe 2013 R 12 and Windows Live Mail in Win8 x64)


"John Pollard" wrote in message
"Andrew" wrote

Appears next month if on their usual schedule. Hope we'll see some
*meaningful* improvements. Anyone have a retail store date? (I always
buy it locally to support my local Staples).

Handling CDs would be nice, although if they haven't figured this out in
the 25 years I've been using Q, I don't hold out much hope now on that
one. Without meaningful competition in the desktop financial software
market, the term 'cash cow' comes to mind.
---------------------------------------------------------------------

I don't think the imagined lack of competition plays any role in Intuit's
decision not to provide special handling for CD's.

For the over 15 years when Money was in direct comptetition, Quicken did not
provide any special processing for CD's. So it doesn't appear that
competition has been, or is, a significant motivator here.

And in the years since Money's demise, Intuit has added at least as many new
featurs - and arguably more new features - than they did when Money was in
business.

A few examples: since Money stopped being produced, Quicken has added a
mobile app, the ability to download to loan accounts, and a totally
rewritten budget process. To say nothing of a myriad of other, less
difficult additions.

The added features may not be the features you want, and they may not work
as well as they could/should; but all were asked for by Quicken users, and
each of them represents a very complex/expensive project. I think a closer
look at what has been done with Quicken since Money stopped being a
competitor is sufficient evidence that Intuit is not sitting back and
pretending that they have it made, just because Money no longer competes
directly.

And there are Money diehards who are stocking up on old hardware/software to
be able to continue to run Money 'til the cows come home - so even a
moribund Money is keeping potential Quicken users away from Quicken.

As to your specific CD complaint. I think the lack of special treatment for
CD's is a pure business decision by Intuit: it isn't a big enough benefit
for users, to warrant the cost of doing it.

CD's are not exactly a monolithic investment. Many (all of my) CD's are in
individual real-world bank accounts. But some users want to treat CD's as
securities in investment accounts. I don't see a one-size-fits-all approach
to that situation.

Note the Quicken "IRA account" conflict. A Quicken "IRA" account must be a
Quicken "investment" account. But not all real-world IRA holdings are in
real-world brokerage accounts. If you have a bank CD in your IRA holdings,
and your bank provides downloads to the CD account, you have to make a
choice: you can create a Quicken IRA account and manually maintain the CD
holdings in that account, or you can create a non-IRA (tax-deferred) Quicken
savings account and download your CD transactions.

And the fact that some banks do provide downloads to CD accounts, reduces
the need for users with that capability to have Quicken provide special
handling for those CD accounts ... which reduces the potential demand for
special CD treatment by Quicken. Something which I think Intuit is well
aware of.
 
F

Frank Kirk

That rate would earn $25 - but we might get only 0.05% per year these
days. Or even 0.01%! That's a penny a year on a $100 investment! :>(
Wow! You can double your money in, what, 6,000 years ??? {:)

Sigh, now if Intuit would just let me increase the font size in some of
the registers... my 67 year-old eyes would work a little better.
 
Joined
Sep 8, 2013
Messages
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Quicken issues

[/I]
"Andrew" wrote

Handling CDs would be nice, although if they haven't figured this out in
the 25 years I've been using Q, I don't hold out much hope now on that
one. Without meaningful competition in the desktop financial software
market, the term 'cash cow' comes to mind.

I don't see the problem with CD's. I enter CDs at banks as a Savings account and enter the interes as it comes in. If you buy a CD in your investment account, you could handle it as a cash balance and enter interest there.
---------------------------------------------------------------------
 
Joined
Sep 8, 2013
Messages
2
Reaction score
0
Hi, John.

3. For a CD that pays interest monthly in a check or direct deposit to a checking account, there is no good way (that I have found - and I've looked hard, many times) to simply record the _IntInc and simultaneously add it to the cash or bank balance. Quicken doesn't like us using Scheduled Transactions to move assets - or income - between Banking and Investment accounts. For some CDs, I schedule the "banking" transaction and the "Skip"
It really doesn't have to be that complicated. If you are taking the interest in cash every month, the balance of the CD account should always be the initial amount with which you opened the CD. (I keep each CD in a separate account - naming it something like "CD-XBANK1234 dd-mm-yy: The numbers are the last four numbers of the CD account, and the date is date of maturity....

Inasmuch as Quicken memorizes your Payee entries, forget about scheduling the transaction.All you have to do is enter the date of payment, and begin to type the name of the account...Quicken will fill in the rest, including the fact that the transaction category is INT. all you have to do is change the amount of payment.

Then, when the deposit is made of the check is cashed, you make a transfer transaction to either CASH or the account of deposit. You'll know at a glance whether you've recorded the transfer, by the balance.
 
T

The Streets

Andrew said:
Appears next month if on their usual schedule. Hope we'll see some
*meaningful* improvements. Anyone have a retail store date? (I always buy
it locally to support my local Staples).

Handling CDs would be nice, although if they haven't figured this out in
the 25 years I've been using Q, I don't hold out much hope now on that
one. Without meaningful competition in the desktop financial software
market, the term 'cash cow' comes to mind.
-------------------------------------------------------------
I just hope that they don't break too many things. And, maybe,
fix some of the things that they 2013 broke (like printing envelopes
in 2013 H&B).
 
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K

Ken Blake

The added features may not be the features you want, and they may not work
as well as they could/should; but all were asked for by Quicken users, and
each of them represents a very complex/expensive project. I think a closer
look at what has been done with Quicken since Money stopped being a
competitor is sufficient evidence that Intuit is not sitting back and
pretending that they have it made, just because Money no longer competes
directly.

My view is not so much that Money was the choice of some people
instead of Quicken, but that many people found the previous version
good enough and didn't buy the new one because it didn't add much in
the way of significant new features.

That's what keeps me from buying the new version every year. What you
mention about Quicken 2013 may be significant to some people, but
although I bought it this year, to me it's no better than 2012.
 

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