Miscellaneous Quicken Questions

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rishitibriwal
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Re: Miscellaneous Quicken Questions

Post by rishitibriwal »

New question that I haven't been able to find any suggestions for:

I started using Quicken this year and input all of my opening balance sheet (I previously maintained a 'cost basis' detailed balance sheet in excel), including all securities, assets and loans. I previously maintained a 'deferred tax liability' account to track potential tax liabilities for previous tax years where I set up the liability each year. During the current year, I have now received what I believe are all my final tax assessments and I have a small amount left over in the deferred tax liability account I set up in Quicken. How do I get rid of this liability account without creating an income line item in my current year P&L? I know that I could in theory go back and adjust my opening balances but I would like to be able to run a report of net worth on Jan 1, 2012 and be able to match it with the report from my previous excel file.

Any help would be highly appreciated.
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adrian2
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Re: Miscellaneous Quicken Questions

Post by adrian2 »

You can enter a cash transfer into the same account, kind of like creating money out of thin air.

I don't use "current year P&L", therefore I'm not sure if this helps.
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Re: Miscellaneous Quicken Questions

Post by tedster »

You could do a Journal entry, sometimes I do this to balance something trivial for which I do not want to spend a lot of time tracking down.
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Re: Miscellaneous Quicken Questions

Post by rishitibriwal »

Thank you Adrian and Tedster. I was able to 'reconcile' the amount to the lower amount by adjusting it to the same category (effectively creating, like Adrian suggested, 'money from nothing'. This now brings the accounts to the correct balance and updates the net worth report correctly. Thank you.
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Re: Miscellaneous Quicken Questions

Post by tedster »

I too have a problem with reconciliation. When I go to reconcile one particular account, it gives me the correct "starting" balance. When I put in the "final balance" it tells me I have a problem and gives me several options. The one I always select is "ignore". I then proceed to reconcile perfectly. So where and why is the problem?
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Re: Miscellaneous Quicken Questions

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I'm not using Quicken's automatic reconciliation and always reconcile each transaction manually.
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Re: Miscellaneous Quicken Questions

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adrian2 wrote:I'm not using Quicken's automatic reconciliation and always reconcile each transaction manually.
I have not used Reconcilation (auto or otherwise) for well over a year (maybe two). It is not worth searching out data entry typos that result in minor "ending balance" errors with the actual statement. It is not worth the hassle. I will make a Journal entry at the end of each calander year or so to match a statement balance. That said, if I have a significant ending balance difference in a given month, I've obviously made an error or omission that month, and I simply back check against the statement for that month to correct it.

I use Quicken as a way to manage my investments and bank balances in a big picture way, not as a precise ledger down to pennies. IOW, it is a tool to help me, not enslave me.
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Re: Miscellaneous Quicken Questions

Post by atchgwb »

using Quicken 2001 Basic [time flies]; When I check Portfolio balances for previous years, it seems the display only includes investments that I now still hold, not all those held at the earlier date and since matured, sold etc.. So I can't get a valid comparison of my portfolio value current vs past. I guess there's a switch somewhere that i need to 'throw' to get it to assemble all investments held on those previous anniversaries. I tried fiddling with 'hidden' securities but that didn't seem to help. What am I missing?
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Re: Miscellaneous Quicken Questions

Post by Jaunty »

If you are using the "REPORTS" function you can select the date range you wish to use (for example "Year to Date") or you can further customize the report by selecting the "CUSTOMIZE" feature after selecting the type of report you want from the "REPORTS" menu (for example Investment Performance). The "CUSTOMIZE" feature gives you a whole host of options you can select including what securities to include. I do a report each January for the previous year once all the data is in and save it. Even 2 or 3 years later it'll bring up the right data. I have found that using the "Custom Dates" option is best as it sets the dates for the next time you bring up the report, where "Year to Date" would change each new day you open the report and so could some of the other choices, depending when you open them again.
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Re: Miscellaneous Quicken Questions

Post by pmj »

I use Quicken Deluxe 99 and it behaves exactly as Jaunty describes. It defaults to "All Securities" - although that may be because it is the default and I've never changed it.

If you use Portfolio View (Features - Investing - Portfolio View) - or Ctrl+U - and select a past date - do you see the sold securities?
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Re: Miscellaneous Quicken Questions

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In Quicken 4, click Custom in the Portfolio window, select tab Securities, uncheck box "Hide Securities You Do Not Own (no share balance)".
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Re: Miscellaneous Quicken Questions

Post by Germack »

Does anybody here knows when Quicken 2013 is going to be released in Canada?
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Re: Miscellaneous Quicken Questions

Post by atchgwb »

Thanks for the help; "Customize" in Portfolio view, was the route, to choose to include ALL accounts, and ALL securities..
Simple in retrospect.
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Re: Miscellaneous Quicken Questions

Post by AltaRed »

Sigh...... It is that time when users of Quicken2010 will have the 3 year clock strike midnight turning the coach into a pumpkin.

Anyone about to "take advantage" of the 20% discount to the $110 price Intuit is offering on Quicken 2013 until Dec 10th? All I see is eye candy and more gimmicks. I know I don't have to do it, and resort to manual updating, but that is too much work for a person 'busy' with retirement.
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Re: Miscellaneous Quicken Questions

Post by tedster »

I am still using Quicken 2002 with no difficulties. I cannot think what other versions do that would do anything that I really would like them to do. eg. Track portfolio results at month end by account and year. Or manage dividends and interests as opposed to investments.
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Re: Miscellaneous Quicken Questions

Post by gouthro »

I have an ancient version of Quicken--sometime in the 90's --and was wondering whether there is any value in getting Quicken 2013. I don't need budgeting abilities, etc. Perhaps the only thing that I might use it for is downloading my investment activity and making sure RBC is keeping things straight. Although I haven"t had much problem with them so far ( I don't think), so, i was wondering whether it was worth getting and since I don't have any experience downloading investment activity from my broker, was wondering if anyone thought it worth it for this reason
thanks joe
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Re: Miscellaneous Quicken Questions

Post by Bylo Selhi »

AltaRed wrote:Anyone about to "take advantage" of the 20% discount to the $110 price Intuit is offering on Quicken 2013 until Dec 10th?
Q10 doesn't expire until 01Jun13 so there's still about half a year's time. In the past they've run 50% off sales over Christmas/Boxing Week.
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Re: Miscellaneous Quicken Questions

Post by AltaRed »

Okay, that is worth noting. I'd not seen discounts of that nature myself (not that I was looking).

It is the automatic market pricing updates that I seek, to avoid having to manually input market price date for each security. That said, I have no need for the downloading features from financial institutions. If Intuit would keep the pricing updating feature going for a longer period, I'd keep older versions of Quicken going longer too.
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Re: Miscellaneous Quicken Questions

Post by Shakespeare »

I don't use Quicken, but:

XL2QIF allows Excek to Quicken conversions.

So, if one wants to take the time, you could:

1. write an Excel program to get the data you want using the Yahoo data download tutorial
2. Put it into the format you need.
3. Export to QIF
4. Read with your old version of Quicken.
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Re: Miscellaneous Quicken Questions

Post by Bylo Selhi »

AltaRed wrote:It is the automatic market pricing updates that I seek, to avoid having to manually input market price date for each security.
It might be possible to get those numbers from Yahoo's or Google's finance sites using Excel or LibreOffice then convert to CSV/OFX/QFX and import into Quicken. I keep meaning to explore this but never seem to get around to it.

Some links that may be useful from my bookmark collection, i.e. to show what's possible and perhaps stoke some creative fires:
Financial Format Conversion
iCreateOFX Investment V1 - Convert Brokerage / Investment CSV and QIF files to OFX
Hacking Quicken to import OFX transaction exports in foreign currencies
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Re: Miscellaneous Quicken Questions

Post by Peculiar_Investor »

I've posted this one before, smf_addin : EXCEL Stock Market Functions Add-in.

For those running on Linux there is BeanCounter portfolio performance toolkit. Then I can give you my shell script that does a nightly data update and my PHP script that generates my monthly CSV file for import into Quicken.
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Re: Miscellaneous Quicken Questions

Post by pmj »

I use Quicken 99. It imports prices directly as a .CSV :

1. Select the Portfolio tab (this is required for importing stock & MF prices - if you select an account you are offered the opportunity to import a .QIF file with that account's transactions)
2. File
3. Import
4. Import Prices .. then follow the instructions

There are several ways to get the prices and create the .CSV file - eg as described above. There are some excellent files at smf_addin.

I do it like this:

I have all my stocks in ?three? portfolios at GlobeInvestor, and I get the prices with an Excel WebQuery. I've never mastered macros, but with WebQuery the data updates just by changing one parameter - which in my case is the date for which I need the prices - then I save one page of the file as a .CSV.

If I buy a new stock or MF, I add it to one of the GlobeInvestor portfolios, and then I add a line in the spreadsheet (this might not be necessary just for the WebQuery - but I use the spreadsheet for a couple of other purposes and I need this extra line for those purposes).
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Re: Miscellaneous Quicken Questions

Post by CrookedFork »

Shakespeare wrote:I don't use Quicken, but:

XL2QIF allows Excek to Quicken conversions.

So, if one wants to take the time, you could:

1. write an Excel program to get the data you want using the Yahoo data download tutorial
2. Put it into the format you need.
3. Export to QIF
4. Read with your old version of Quicken.
What I did, before deciding to upgrade 2002 to 2011, was:
  • Download it in CSV format.
    Open the CSV in notepad and copy the data into the spreadsheet.
    Set up the macro (you only need to do this once).
    Run the xl2qif macro and get the QIF file.
    Import the QIF into Quicken.

It worked reasonably well for me.
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Re: Miscellaneous Quicken Questions

Post by $seeker »

I did a Norberts Gamble recently and converted USD to CAD
I went to record the transfer of shares from USD acct to CAD account and Quicken said I can't transfer shares to an account with different currency.
How do you get around this issue in Quicken?
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Re: Miscellaneous Quicken Questions

Post by pmj »

$seeker wrote:I did a Norberts Gamble recently and converted USD to CAD
I went to record the transfer of shares from USD acct to CAD account and Quicken said I can't transfer shares to an account with different currency.
How do you get around this issue in Quicken?
I "sold" the shares for cash in the Quicken account they were originally bought in, then transferred the cash to the other account, making the exchange in that transaction. You also have to deduct the brokerage fee in the original account - so it has to be converted into the original currency.

To calculate the exchange rate I noted the time that the shares sold, and used the price in the original currency at that time as the selling price. Google Finance and Yahoo both show prices minute-by-minute if you check them within a few days.

If you're using TDW there'll be a whole stack of confusing transactions that tidy-up after a few days - but those transactions will use TDW's internal rates, with vig - so they won't be the same as the ones I described above. TDW also uses the "vigged" transactions to calculate book values of, for example, any TDW US MM funds that you buy in an autowash (I've only used NG for C$ to US$).
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