Quicken 2010 initial impressions

SRC

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Oct 12, 2009, 1:52:01 PM10/12/09

to

Well, I downloaded it this morning and it imported everything pretty much
flawlessly. I haven't had time to check everything out but was able to sync
all my accounts except for Compass Bank, which gives me the error OL301 that
I am using incompatible software. I think it is probably Compass's fault
but their online help is closed today. I had to do something called
webconnect with one bank, so will have to see what I think of that.
Fidelity, American Express, Chase, and Bank of America are working great. I
did have to clear out some duplicate transactions after doing initial
download, which I expected. The upcoming bills was pretty messed up to so
plan to delete and rebuild those (the faq warned me).

My main worry is how to handle my cash accounts for Fidelity as Quicken 10
thinks they are bank accounts and doesn't support associated cash accounts.
Why?. I don't think they will update so will have to do that manually. I
have to think about that some, but I don't know why Quicken handles that
differently. I got the Premier version to make sure that I would have good
investing stuff. But I think now I might as well have gone with Deluxe and
saved some money. Amazon will let you order it for a little bit less as I
paid extra to download.

The interface will take some getting used to. I have never used Quicken so
don't know what changes or improvements they made. I am sure I will get
used to it. Money had its idiosyncrasies too. Compass has got to work
though or I shall have to close my accounts there.

No doubt, I will have to more to say later as I had to go to work and didn't
get to explore as long as I would have liked.

--
Steve
st...@conklan.us

SteveC

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Oct 12, 2009, 2:52:45 PM10/12/09

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Well, I was wrong about the associated accounts; they are still there.
Quicken just doesn't total it in the investment accounts.

Categories: I finally looked into those a bit more and it will require some
going through and fixing the ones that didn't go right. Again, I expected
that and it doesn't look too bad but I have 5 years worth. I guess I will
work on getting 2009 right first and from time to time go back to the
earlier years. Quicken seems to pretty much truncated it so you can tell
what it should be so shouldn't be too mysterious.

"SRC" <s...@spamcontrolconklan.us> wrote in message
news:1646C93C-6B0C-40EA...@microsoft.com...

Scott Tyler

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Oct 12, 2009, 4:53:03 PM10/12/09

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SRC wrote:
>
> My main worry is how to handle my cash accounts for Fidelity as Quicken
> 10 thinks they are bank accounts and doesn't support associated cash
> accounts. Why?. I don't think they will update so will have to do that
> manually. I have to think about that some, but I don't know why Quicken
> handles that differently. I got the Premier version to make sure that I
> would have good investing stuff. But I think now I might as well have
> gone with Deluxe and saved some money. Amazon will let you order it for
> a little bit less as I paid extra to download.
>

Bad news: The solution I found on the Quicken Live Community to fix this
issue is to mark the accounts as "Tax Deferred" rather than
"Retirement" in Money, then do another Money-to-Quicken conversion (I'm
on my second (and hopefully last) conversion), and then clean things up
on the other side.

Good news: It works.

https://qlc.intuit.com/post/show_post_full_view/b5q94oSWqr3Q62acfArQA8#

From matt8268 on the Quicken Live Community

>>
>> Okay, I figured out a workaround:
>> - Before export, uncheck ï¿½retirement accountï¿½ from all retirement
>> accounts in Money, instead selecting ï¿½tax deferred accountï¿½.
>> - Import into Quicken using conversion tool
>> - Once imported, choose "Show Cash in a Checking Account" to ï¿½Noï¿½.
>> This gets rid of the cash account, first moving transactions like
>> transfers to the investment account itself.
>> - Click on the investment account. Now that you removed the cash
>> account, there will be a link in there saying ï¿½Convert to a 401k or
>> IRA?ï¿½ Click that and then choose 401k or IRA depending which it is.
>>
>> Worked for me
>>

--
Scott Tyler
agent_scotty-at-hotmail-dot-com

Ron Pierce

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Oct 12, 2009, 8:02:35 PM10/12/09

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Good to know. I have done a number of conversions - correcting data that
it flagged as truncated or other minor things. I have some tax lots that I
need to determine what have problems. That will be "interesting" - as the
conversion log doesn't give much info for these transactions.

- Ron

"Scott Tyler" <agent_scotty-at-hotmail-dot-com> wrote in message
news:eUgh833S...@TK2MSFTNGP06.phx.gbl...

SteveC

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Oct 12, 2009, 9:51:28 PM10/12/09

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Well, it shows the linked cash accounts for my Roth IRA and my IRA so I
guess I won't re-import. Just sort of clunky that it won't let you
reconcile from that same window. I was never happy with Money's way of
doing it either since what Fidelity does is actually invest that money in
its Money Market fund. I can "buy" the Money Market fund each month and
zero that out.

I still haven't figured out the weird names for all the Interest and
Dividend categories. I always put the interest in the same category as my
bank interest. Now my bank interest is all in these weird hidden investment
categories.

Webconnect is a real kludge. INGDirect works directly in Quicken and didn't
in Money so that is a plus.

"Scott Tyler" <agent_scotty-at-hotmail-dot-com> wrote in message
news:eUgh833S...@TK2MSFTNGP06.phx.gbl...

SRC wrote:
>
> My main worry is how to handle my cash accounts for Fidelity as Quicken
> 10 thinks they are bank accounts and doesn't support associated cash
> accounts. Why?. I don't think they will update so will have to do that
> manually. I have to think about that some, but I don't know why Quicken
> handles that differently. I got the Premier version to make sure that I
> would have good investing stuff. But I think now I might as well have
> gone with Deluxe and saved some money. Amazon will let you order it for
> a little bit less as I paid extra to download.
>

Bad news: The solution I found on the Quicken Live Community to fix this
issue is to mark the accounts as "Tax Deferred" rather than
"Retirement" in Money, then do another Money-to-Quicken conversion (I'm
on my second (and hopefully last) conversion), and then clean things up
on the other side.

Good news: It works.

https://qlc.intuit.com/post/show_post_full_view/b5q94oSWqr3Q62acfArQA8#

From matt8268 on the Quicken Live Community

>>
>> Okay, I figured out a workaround:

>> - Before export, uncheck “retirement account” from all retirement
>> accounts in Money, instead selecting “tax deferred account”.

>> - Import into Quicken using conversion tool

>> - Once imported, choose "Show Cash in a Checking Account" to “No”.

>> This gets rid of the cash account, first moving transactions like
>> transfers to the investment account itself.
>> - Click on the investment account. Now that you removed the cash

>> account, there will be a link in there saying “Convert to a 401k or
>> IRA?” Click that and then choose 401k or IRA depending which it is.

SteveC

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Oct 12, 2009, 9:54:59 PM10/12/09

to

Oh and BoA credit card is now direct instead of through Yodlee so that is a
plus.

"SRC" <s...@spamcontrolconklan.us> wrote in message
news:1646C93C-6B0C-40EA...@microsoft.com...

SteveC

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Oct 13, 2009, 9:46:24 AM10/13/09

to

Well, now Compass Bank tells me they don't support Quicken 10 and won't for
weeks. I told them I never had problems moving from one version of Money to
another. And, I would temporarily use the kludge of manually downloading
but guess what, Compass doesn't download in QFX format, on QIF which Quicken
doesn't use any longer. I dumped AmSouth (now Regions) in 1997 for Compass
because Compass supported Money. Now I guess I will dump Compass cause I
ain't waiting. On the other hand, I don't really like Quicken.

Wouldn't it have been easier just to update Money to Money 2010. Yep.

"SteveC" <co...@community.nospam> wrote in message
news:FE32EE87-3FE3-41AD...@microsoft.com...

Cal Learner-- MVP

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Oct 13, 2009, 11:10:35 AM10/13/09

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In microsoft.public.money, SteveC wrote:

>Well, now Compass Bank tells me they don't support Quicken 10 and won't for
>weeks. I told them I never had problems moving from one version of Money to
>another. And, I would temporarily use the kludge of manually downloading
>but guess what, Compass doesn't download in QFX format, on QIF which Quicken
>doesn't use any longer. I dumped AmSouth (now Regions) in 1997 for Compass
>because Compass supported Money. Now I guess I will dump Compass cause I
>ain't waiting. On the other hand, I don't really like Quicken.
>
>Wouldn't it have been easier just to update Money to Money 2010. Yep.

You could get Money Plus extended thru January of 2011.

SRC

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Oct 14, 2009, 4:24:54 PM10/14/09

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Don't think I haven't thought of it; right now I am running both. I raised
hell at Compass and they implemented support today. It worked great except
. . . . .

Quicken downloaded 2 years of transactions into my checking account and I
had to delete them all one by one. IN Quicken, you cannot just hit the
delete button but right click and then delete. You can choose multiple
transactions in the registry but not in the unmatched downloaded
transactions list.

It also downloaded all my epays for the last six months and treated them as
if they were still live. When I deleted them, it warned me that I would
have to tell Compass to cancel them. Fortunately, that wasn't true, but I
went to the web site to make sure.

I downloaded again and all is well, but if you bank at Compass you may want
to make sure you don't download more than 30 days if you imported your
transactions already. Don't ask me how to do that.

"Cal Learner-- MVP" <via_ne...@please.tnx> wrote in message
news:9169d550eq9bnk7b9...@4ax.com...

Amanda

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Oct 16, 2009, 4:51:02 PM10/16/09

to

I just converted my data from Microsoft Money. Thank you for the hint on the
401k cash issue. I had to convert MM again after I made the changes you
suggested. It worked perfect. I had date from 1996 to current converted
successfully.
Thanks
Amanda

Regina

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Oct 17, 2009, 7:15:01 PM10/17/09

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I don't understand why the "Investment and Retirements Accounts" list shows
Cost Basis rather than current Market Value - and I don't see a way to change
that. Doesn't make sense - you need to know where you ARE not where you CAME
FROM!

SteveC

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Oct 21, 2009, 9:00:40 PM10/21/09

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Well, 10 days into it and I have just about gotten things where I want it.
I still have some kinks in my payees and categories and haven't really
gotten into the Tax Planning. What I see of it looks to be about as good as
Money's.

I have deleted all the unused categories that Quicken had in favor of the
ones I like and I do like the clean start-up page that loads faster than
Money's, and I like the NetWorth Bar on the left. I like the way Quicken
updates accounts; it does always ask for the Vault password, which is a
pain, but I like that it shows you what accounts are being updated instead
of the interminable hour glass you got in Money. You can quickly see what
Banks are not responding. Matching transactions is rough but I assume
Quicken is learning as it goes.

I haven't figured out memorized payees yet. It seems to memorize more than
one and is not quite as nice as Money's. It doesn't allow you to combine
payees for example; you can only delete them. The full functionality seems
to be there with categories, but it is a bit treacherous. If you make a
mistake to delete a category and it asks you what new category to assign it
too, you got to assign it because if you cancel, it still deletes the
category! I am making backups frequently for when I make a mistake on this.
( I learned my lesson after losing an hour's work!)

I think Money's interface is better but Quicken is improving and with the
influx of Money users and the guy from Mint.com coming in, I hope, if they
keep Quicken, that we can have an impact on improving it.

Things I don't like:

When you send a payment, it won't send them immediately and, it was bad
enough that Money insisted on 4 days for true epays BUT Quicken wants 5
days. I can go the Bank web site and do it next day (if before 2pm)! I am
more and more using the bank's web bill pay and just letting Quicken
download it each day.

Schwab still won't download CD prices right; it is off by a factor of 100.
Disconcerting; I now remember not to download Schwab but once a month and
then edit the prices manually.

The register is hard to read and busy. I find I have to use the 2-line
register instead of one I used in Money because of the clutter. I do miss
the form entry too.

I miss Money's home inventory. Quicken wants more money for theirs and I
think I will just make entries into the asset file instead. Still thinking
about this.

"SRC" <s...@spamcontrolconklan.us> wrote in message
news:1646C93C-6B0C-40EA...@microsoft.com...

SRC

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Oct 27, 2009, 2:04:02 PM10/27/09

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I see Schwab made a change this morning in the number of shares for my CDs.
Instead for 4000 at 1.01 a share for the CD; they changed it to 40 at 101 so
that fixes the disparity with the price. I went back and edited the
original purchase.

"SteveC" <co...@community.nospam> wrote in message

news:D78DD900-28FF-4D98...@microsoft.com...

Aloke Prasad

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Nov 11, 2009, 7:54:18 AM11/11/09

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Cal Learner-- MVP wrote:
> You could get Money Plus extended thru January of 2011.

How? Do I have to do something special to extend it?

I am using Money Plus Deluxe ver 17.0.120.1415

Aloke Prasad
remove 123 and invalid to reply by email

Cal Learner-- MVP

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Nov 11, 2009, 9:07:18 AM11/11/09

to

In microsoft.public.money, Aloke Prasad wrote:

>Cal Learner-- MVP wrote:
>> You could get Money Plus extended thru January of 2011.
>
>How? Do I have to do something special to extend it?

You could buy the boxed Money Plus Deluxe via Ebay.

Aloke Prasad

unread,

Nov 11, 2009, 9:32:47 AM11/11/09

to

I am already using Money Plus Deluxe 17.0.120.1415 from the get-go.

Am I all set until January 2011?

Aloke Prasad

glennsaben

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Feb 16, 2010, 12:38:18 PM2/16/10

to

Has a solution to the download issue been found? I recently converted from MS Money to Quicken and have the same problem in not being able to download data from Compass. Both Compass and Inuit point fingers at each other and have offered no solution.

SRC wrote:

Quicken 2010 initial impressions
12-Oct-09

Well, I downloaded it this morning and it imported everything pretty much

flawlessly. I have not had time to check everything out but was able to sync

all my accounts except for Compass Bank, which gives me the error OL301 that
I am using incompatible software. I think it is probably Compass's fault
but their online help is closed today. I had to do something called
webconnect with one bank, so will have to see what I think of that.
Fidelity, American Express, Chase, and Bank of America are working great. I
did have to clear out some duplicate transactions after doing initial
download, which I expected. The upcoming bills was pretty messed up to so
plan to delete and rebuild those (the faq warned me).

My main worry is how to handle my cash accounts for Fidelity as Quicken 10

thinks they are bank accounts and does not support associated cash accounts.
Why?. I do not think they will update so will have to do that manually. I
have to think about that some, but I do not know why Quicken handles that

differently. I got the Premier version to make sure that I would have good
investing stuff. But I think now I might as well have gone with Deluxe and
saved some money. Amazon will let you order it for a little bit less as I
paid extra to download.

The interface will take some getting used to. I have never used Quicken so

do not know what changes or improvements they made. I am sure I will get

used to it. Money had its idiosyncrasies too. Compass has got to work
though or I shall have to close my accounts there.

No doubt, I will have to more to say later as I had to go to work and did not

get to explore as long as I would have liked.

--
Steve
st...@conklan.us

Previous Posts In This Thread:

On Monday, October 12, 2009 1:52 PM
SRC wrote: