No error messages were seen during the conversion. Some may like it better, I'm not impressed. It seems to have the things I'm used to, but moved around a little. No big deal. It seemed to work. At the end of this I got the first hint that there was a program update available. There was a message inviting me to update. I started the update which failed. I decided to look into that later. They changed from what I had seen the day before in the product. Not good. Not a dramatic change, but something was different.
Digging into that, I discovered that apparently the conversion utility had dropped a bunch of transactions! I wasted an hour doing this. The update process failed over and over. I did that and the update installer reported that the upgrade had succeeded. I haven't completed this process, but I have the correct balance now. Invoices Both Quickbooks and Quicken allow the user to create invoices. However, only Quickbooks is able to monitor unpaid invoices.
Business Features Quickbooks allows the user to develop a business plan, track business sales tax, track sales invoices and inventories, manage payrolls and track expenses. It can integrate with Word, Excel and Outlook and can handle multiple users. Quicken does not have any of these features. Remote Access Quickbooks can be accessed remotely. Quicken cannot be accessed remotely. Tracking Investments Quickbooks does not allow the user to track investments. Quicken, on the other hand, allows the user to track the cost basis and current market value of stocks, bonds and mutual funds.
Household Inventory Quicken allows the user to maintain an inventory of household possessions, for use in emergencies such as fire.
X Where to Buy You can save a trip to the store and buy online direct from Intuit. The nice part is that you can download it immediately. Also right now as of this posting if you buy Quicken Deluxe or any of the more advanced products you can get Willmaker Plus for free.
No thanks, but how about a getting started managing your finances card? Nope not in there. Documentation Yeah not so much. Apparently Intuit wants to foster some social networking and let us learn from ourselves. This is a disappointing way to be introduced to this product. In the help menu you will find some guidance, albeit terse. No actual user manuals. Quicken The Official Guide Quicken Press Quicken Press just put out an official guide to using Quicken that might also be helpful for getting up to speed with this latest version.
It was written by Maria Langer who is a freelance writer, helicopter pilot, and long-time Quicken user. A former financial analyst with a degree in accounting, she is the bestselling author of the previous editions of this book. It covers the Quicken Deluxe and Premier versions. Topics Covered by the Official Guide Customize Quicken for your preferences Track your cash flow Set up Online Account Services Automate transactions and tasks Reconcile checking, savings, and credit cards accounts Track investments and optimize your portfolio Monitor assets and loans Reduce debt, save money, and plan for retirement Simplify tax preparation and maximize deductions Quicken Startup Screen In an effort to get you going as quickly and easily as possible they provide a 3 step process to get your accounts setup, enter your recurring bills and then go on to budgeting and savings goals.
The process is quick and painless and does a decent job getting you up and running with the basics. It almost makes up for the lack of documentation. My smallish credit union as well as my bigger banks were all in here and Quicken went ahead and imported the last 90 days of transactions from my accounts.
This is where Quicken shines, pretty much any bank or credit union is setup to have Quicken pull your data. For anyone doing any form of more advanced budgeting Quicken has not fit the bill. With they might have actually done it. This opens a wizard type menu where you can go through and record your expected income, the frequency and then include your various budget categories you want to track. I like the fact that you can set a time period for things such as Garbage that may be every 2 months or your paycheck which may come twice a month.
Setup is relatively simple. If you decide that you have too much money in a category you can allocate some or all of it to another category. I know many users complained of trouble with the version of this function.
The essence of the budget planner is that it goes well beyond their simplistic view of allocating a set amount of money to a category.
Savings Plans or Savings Targets If you are saving up for a specific big ticket item or event, Christmas comes to mind. You can easily setup a Savings Target in your Planning Window.
It shows your progress towards that goal and is rather simplistic. You can also create a Savings Plan and Quicken will effectively create a separate account just for that savings goal. Contributions to the saving goal are recorded as transfers from your other account. The premier version of Quicken has even more capability in this area if you are so inclined.
This is really an area that none of the other personal finance software providers can touch. If I use Quicken for nothing else it will be to track my investments and net worth going forward.
Some useful, some not. Password Vault This is a secure place to keep all of your other passwords for your banks and other online sites and protect with one common password. Bill Pay This is a service that Intuit provides so that you can pay your bills direct from Quicken And just forgot about this ridiculous service.
This is the place for tracking all of your basic finances along with your investments. It does a good job of this. Intuit still promises an upcoming Mac version in February of If you are looking for something just to use as a budgeting tool with some level of expense tracking, I still recommend You Need a Budget.
But I have to admit the investment features and various eye candy have me contemplating the move to Quicken. Related posts: