Quicken 2016 upgrade - feedback and comments

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Re: Quicken 2016 upgrade - feedback and comments

Post by adrian2 »

bill2009 wrote: 11 Dec 2017 16:48 Is the US version of Quicken different than the Canadian version? I always assumed it was but maybe not.
A critical difference, IMO, is the proper calculation of capital gains and losses.
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Re: Quicken 2016 upgrade - feedback and comments

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This morning Quicken 2016 asked to update. Before accepting I checked Quicken 2016 for Windows Update and Mondo Patch and found there was a Release 7.2 made in December. The page indicates "Last updated: 12/06/2018".

The release notes weren't very helpful
Quicken wrote:Release 7.2 (Canada Versions, Dec 2018)
Before you take this update, we recommend you perform a One Step Update to ensure that your data is synced to the cloud and also make a backup of your data file.

Improved: Under-the-hood improvements for enhanced product security.
I hummed and hawed as to whether to accept the update and then decided to go ahead. The only hiccup I observed is it flagged that my Microsoft .NET version was newer than the one bundled in the update.

After the update completed, when I open my data files I got prompted for my Quicken ID before I could proceed. SOP as far as I remember.
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Re: Quicken 2016 upgrade - feedback and comments

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A few days after my update, it solicited me with a startup popup for a Quicken 2019 update...promoting hundreds of new features customers have been asking for. :? :shock: I wonder whether one of the features is to correctly use forex calculations in one's database.

Needless to say, I have declined for now, but I do realize I will need to upgrade sometime in 2019 to the new annual subscription model if I want auto updating/downloading (which I do).
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Re: Quicken 2016 upgrade - feedback and comments

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Ever since my last update Canada 2018 R12.8 the Home Screen>Summary it is showing 2 uncategorized transactions. There are none to be found anywhere when I select All Accounts and All Dates. Drilling down by month, quarter, year shows nothing blank for Category. I looked at many splits and they are all populated.

Can't seem to get rid of that status as it appears completely bogus. Annoying and not worth the effort for a service phone call. Perhaps when they push more updated bloatware and something else breaks I will report it.
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Re: Quicken 2016 upgrade - feedback and comments

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The sunset is coming for Quicken 2016. Like AltaRed I've been experiencing
AltaRed wrote: 15 Dec 2018 11:47 A few days after my update, it solicited me with a startup popup for a Quicken 2019 update
Yesterday Quicken sent me (and I presume many others) an email
Quicken wrote:When you purchased your Quicken 2016 product, it included the ability to use connected services like downloading your transactions and balances, online bill pay and live support. As of April 30, 2019, these connected services will expire and be discontinued. Upgrade now and save 10%. (link with lots of tracking data removed).

You can continue to use your Quicken product; however, you won't be able to continue using connected services and live support.

Which Quicken 2016 connected services will be discontinued?
• Downloading your transactions and balances from financial institutions and having them automatically categorized in Quicken
• Paying your bills online with Quicken
• Accessing live chat support
• Downloading stock quotes and news headlines to Quicken
• Access to free Quicken mobile app
I don't often click through links, but I hovered over it first to make sure I understand where it was taking me. All seemed okay so I clicked.

As promised the page states Upgrade now to get all the latest features. Save 10% with this offer!. The versions for Windows are:
  • Deluxe - Manage your money and save, $49.99/yr $44.99/yr
  • Premier - Maximize your investments, $74.99/yr $67.49/yr
  • Home & Business - Personal and business all in one place, $99.99/yr $89.99/yr
Here's the screenshot:
Quicken 2019 10% off.JPG
Quicken 2019 10% off.JPG (89.12 KiB) Viewed 2577 times
So far so good. I'm currently using Quicken Home & Business 2016 but checking the feature list I think that Premier offers all the features/functionality that I use. Oops, as explained below I'm looking at the US versions.

But here's the kicker. I checked Plans & Pricing | Quicken Canada and guess what. I get completely different versions and pricing.
Here's the screenshot:
Quicken 2019 for the masses.JPG
Quicken 2019 for the masses.JPG (77.14 KiB) Viewed 118 times
What I think is happening is even though Quicken knows I've got the Canadian version they've offered me 10% off the US versions. :oops: :x

Looking closer I also notice that I'll again need the Canadian Home & Business version :evil: to because some of the investments functionality I regularly use requires Home & Business, see the Key investment & tax planning features section.

As much as I don't like subscription models for software, I've got so much invested in Quicken that I'm going to have to grin and bear it.

The only thing left is to figure out how to get the promised 10% discount for the Canadian version. Stay tuned.
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Re: Quicken 2016 upgrade - feedback and comments

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I am still using Q2014 Home & Business, so it's been unsupported for 2 years now. When Q2018 came out with the subscription mode they basically tripled the price. The annual subscription was about as much as the previous non-subscription version that lasted 3 years before being sunset.

I used to download transactions, but I always entered them myself in advance then used the d/l transactions as a comparison. I am not a big spender so manually entering and reconciling is not too much of a hassle. I update security prices myself weekly. I only have 10 holdings so that as well is not onerous.

I do like the ability to have bill reminders, calendar view of upcoming expenses so I can ensure I have enough cash to pay bills, ability to see past expenses like when did I last buy tires/glasses/how much has my insurance cost changed, what's my investment income, etc. I can track cost base for investments in AdjustedCostBase.com or excel. Investment performance is better done in excel or the Bogleheads spreadsheet.

So I could get by on my current version of Q2014, maybe forever. But I have concerns abut how many transactions and how big of a data file it can support. I have transactions going back >25 years. Don't need that much, but archiving in Quicken does not seem that functional. Also concerned if I have a technical problem and it stops working, will I be able to import my existing Q. data file into the latest version, or will they no longer support import of versions as old as mine.

Quicken's annual subscription seems expensive compared to what Microsoft charges for an entire Office365 subscription. OTOH it costs annually about as much as a monthly cell phone or internet subscription. I suppose in the overall picture, $90/year is a minor blip to get such a good integrated view of my finances... lots of people spend that much on coffee in a month.
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Re: Quicken 2016 upgrade - feedback and comments

Post by queerasmoi »

It's rather annoying that there's only one feature I'd need H&B for over Deluxe: "Track cost basis and create capital gain/loss reports".

I would consider migrating to something else but I'm still not sure that any other product is built correctly for the Canadian market including proper treatment of capital gains on US equities.
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Re: Quicken 2016 upgrade - feedback and comments

Post by Peculiar_Investor »

I've asked the same question on the Quicken Communities board, Email -Alert: Quicken Connected Services Expire April 30, is the "Upgrade now and save 10%" possible? | Quicken Customer Community.

Awaiting a response and not holding out much hope. Based on past experience with the owners of Quicken I'm prepared to be disappointed and underwhelmed.
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Re: Quicken 2016 upgrade - feedback and comments

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queerasmoi wrote: 26 Jan 2019 13:37 It's rather annoying that there's only one feature I'd need H&B for over Deluxe: "Track cost basis and create capital gain/loss reports".
I use Quicken 2019 Deluxe version and am able to get a Capital Gains Report showing the cost components for tax reporting. If that is all you require I would look at purchasing the Deluxe version and see if it meets your needs as it is $30 less expensive than the H&B version. If not they have a 30 day money back guarantee that they honour and a refund can be requested online.
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Re: Quicken 2016 upgrade - feedback and comments

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Yasehtor wrote: 29 Jan 2019 14:59 I use Quicken 2019 Deluxe version and am able to get a Capital Gains Report showing the cost components for tax reporting. If that is all you require I would look at purchasing the Deluxe version and see if it meets your needs as it is $30 less expensive than the H&B version. If not they have a 30 day money back guarantee that they honour and a refund can be requested online.
But what about tracking cost basis?
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Re: Quicken 2016 upgrade - feedback and comments

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queerasmoi wrote: 29 Jan 2019 23:47 But what about tracking cost basis?
I am not sure exactly what you mean about tracking cost. The Capital Gains report provides the proceeds, costs, shares etc.. What is it that you need for tracking specifically?
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Re: Quicken 2016 upgrade - feedback and comments

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Yasehtor wrote: 31 Jan 2019 09:21 I am not sure exactly what you mean about tracking cost. The Capital Gains report provides the proceeds, costs, shares etc.. What is it that you need for tracking specifically?
I just mean that they claim a feature difference is "track cost basis" so I am wondering what they included in one that they left out of the other.
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Re: Quicken 2016 upgrade - feedback and comments

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queerasmoi wrote: 31 Jan 2019 22:12 I just mean that they claim a feature difference is "track cost basis" so I am wondering what they included in one that they left out of the other.
I use the H&B version.

If I understand your requirement correctly it will not give you ACB but just provide an average overall cost basis based as an average of all your share purchases. There a number of canned report views including one report called Portfolio Value vs. Cost Basis which shows history accumulation versus current value. There is also a Capital Gains report which can be configured to suit the reporting period. Most of these reports can be drilled down to get to single item views.

For my detailed taxation reporting I use https://www.adjustedcostbase.ca/Adjusted Cost Base.ca because it is more functional and supports importing my transactions which I export from Quicken.

Why don't you just sign-up and evaluate. Cancel if it doesn't work for you.
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Re: Quicken 2016 upgrade - feedback and comments

Post by Peculiar_Investor »

Thanks to Sumaco for providing useful feedback on the new version of Quicken. It is unfortunate that Quicken's own marketing materials create such confusion on which features are in what version. But that's par for the course based on more recent experiences with Quicken.
Sumaco wrote: 01 Feb 2019 07:43 Why don't you just sign-up and evaluate. Cancel if it doesn't work for you.
Because I presume that there will be data conversion from my existing data files, so reverting back is not a simple process. I want to be an informed consumer before making the move forward into Quicken's new software model.
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Re: Quicken 2016 upgrade - feedback and comments

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Just create a copy of Q16 data files and hold them separately in case you want to revert back. I do that anyway in case a conversion goes bad.
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Re: Quicken 2016 upgrade - feedback and comments

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AltaRed wrote: 01 Feb 2019 09:54 Just create a copy of Q16 data files and hold them separately in case you want to revert back. I do that anyway in case a conversion goes bad.
For any software, when I upgrade major versions I always (well almost always) create a backup. SOP and good practices.

The issue is spending a number of days downloading/importing transactions and giving the new version a decent amount of testing before making the decision that a) functionality is missing or b) too many bugs still exist or have crept in. Redoing the work isn't something I really want to be doing. Particularly because some financial institutions make it a bit difficult to re-download transactions.
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Re: Quicken 2016 upgrade - feedback and comments

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I have my Quicken configured to save its data files in a Dropbox folder. That way it automatically backs up and could be used to undo a botched migration.
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Re: Quicken 2016 upgrade - feedback and comments

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Anyone upgrade yet? I got my second email reminding me of the April 30 deadline.... of course with the US version in it. Going to the Quicken Canada page, https://www.quicken.com/canada/compare it seems only Home & Business (like I already have) will have the investment features I am looking for.
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Re: Quicken 2016 upgrade - feedback and comments

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Maybe you have seen these already. There are a few threads on the Quicken support forum that ask the same question. All of them have vague and conflicting answers:

https://community.quicken.com/discussio ... rts-canada

https://community.quicken.com/discussio ... t_19991769

https://community.quicken.com/discussio ... dded-value

The third link above is for the US versions, but it has some screen prints of the reports window showing how some reports are unavailable with a button that says "Unlock Report". Seems like the lower versions have all the data and are crippleware. Some responses in the thread suggest buying the lower version and then upgrading if it does not have the desired capabilities.

I use AdjustedCostBase.ca to track my ACB, and the Bogleheads return spreadsheet for portfolio performance. So the investment tracking I want from Quicken is mainly tracking value of my holdings and income received.

Home & Business costs 50% more than Deluxe. That's a lot if the only additional capability that will be used is a little bit of investment tracking!
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Re: Quicken 2016 upgrade - feedback and comments

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AltaRed wrote: 14 Mar 2019 16:41 Anyone upgrade yet? I got my second email reminding me of the April 30 deadline....
I have not received any emails from them.
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Re: Quicken 2016 upgrade - feedback and comments

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GreatLaker wrote: 14 Mar 2019 21:22 Maybe you have seen these already. There are a few threads on the Quicken support forum that ask the same question. All of them have vague and conflicting answers:

https://community.quicken.com/discussio ... rts-canada

https://community.quicken.com/discussio ... t_19991769

https://community.quicken.com/discussio ... dded-value
I might have even contributed to them :lol:

I must admit that since the ownership change and the move to the subscription model I had hoped that Quicken Canada would be more responsive to customer feedback and more importantly to customer questions. One would think that their representatives on their support forum would be able to answer some of these direct questions about the product and the subscription. The deafening silence hasn't made me more likely to embrace this new model and pay up for a subscription.

At this point in time I'm still sitting on the fence on the upgrade question and am leaning towards letting my 2016 version go into sunset mode and then evaluate the time and effort required to maintain my financial records. I only download transactions from two financial institutions and don't use their stock quote or currency download functionality.
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Re: Quicken 2016 upgrade - feedback and comments

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Peculiar_Investor wrote: 15 Mar 2019 10:25 At this point in time I'm still sitting on the fence on the upgrade question and am leaning towards letting my 2016 version go into sunset mode and then evaluate the time and effort required to maintain my financial records. I only download transactions from two financial institutions and don't use their stock quote or currency download functionality.
It is the latter that I like the most, along with transactions in our brokerage accounts. I will probably bite because I have transitioned to being increasingly lazy on financial stuff.
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Re: Quicken 2016 upgrade - feedback and comments

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Peculiar_Investor wrote: 15 Mar 2019 10:25 One would think that their representatives on their support forum would be able to answer some of these direct questions about the product and the subscription. The deafening silence hasn't made me more likely to embrace this new model and pay up for a subscription.
Perhaps the silence is because with a paid subscription you get phone support. I found them to be very responsive to any issue I have called about. Given up on the website ages ago because it seems to be more bitching then fixing.
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Re: Quicken 2016 upgrade - feedback and comments

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https://www.quicken.com/canada/compare

The link shows a comparison of Quicken's Canadian versions. The Deluxe version shows it includes Investment Tracking. I currently use Deluxe and it meets all my needs for tracking, performance, gain loss reports etc. The extra investment features are not anything I need, but perhaps some do.
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Re: Quicken 2016 upgrade - feedback and comments

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Yasehtor wrote: 16 Mar 2019 08:48 https://www.quicken.com/canada/compare

The link shows a comparison of Quicken's Canadian versions. The Deluxe version shows it includes Investment Tracking. I currently use Deluxe and it meets all my needs for tracking, performance, gain loss reports etc. The extra investment features are not anything I need, but perhaps some do.
Can you track the adjusted cost basis of your investments?

The comparison table you linked shows the following feature as only available in Home and Business:

"Track cost basis and create capital gain/loss reports"
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