Quicken 2005 Changes

[Bob_Smith]

Quicken is making some changes. My credit union sent this to all their customers. I haven't received this from any other financial institutions, and I wasn't planning to upgrade. But if I had been planning to go with Quicken 2005, this would have stopped me.

"Important information about Quicken 2005

If you use Quicken to download your account information from Home Banking, be aware of the changes Intuit has made to their Quicken 2005 upgrade. Beginning with Quicken 2005 for Windows, QIF (Quicken Interchange Format) Data Import will no longer be available for most account types, such as Savings and Checking accounts. Quicken will be making a transition to OFX (Open Financial Exchange). At this time we will not be partnering with Quicken to offer OFX because of excessive fees charged by Intuit.

What are my options?

Quicken 2004 for Windows and earlier will continue to accept QIF Data Import.

Quicken 2005 for Macintosh and earlier will continue to accept QIF Data Import.

Microsoft Money: We have partnered with Microsoft Money to offer an OFX connection. With Microsoft Money your account information will automatically export, through the OFX connection, to the Money program eliminating the need for you to login to Home Banking. If you have already purchased Quicken 2005 for Windows and wish to return it, please visit Intuit's web site for details.

If you are interested in switching from Quicken to Money, you can do so with ease. Microsoft Money offers a friendly, easy-to-use interface combined with a powerful and highly developed set of financial management tools. If you are a Quicken user, Money can make it easy to transfer your information with help and tips designed specifically for Quicken users. Money also allows you to use the same keyboard shortcuts you already know and comes with a converter for Quicken files, making it easy to transfer your data."

Quote:

If you are interested in switching from Quicken to Money, you can do so with ease. Microsoft Money offers a friendly, easy-to-use interface combined with a powerful and highly developed set of financial management tools. If you are a Quicken user, Money can make it easy to transfer your information with help and tips designed specifically for Quicken users. Money also allows you to use the same keyboard shortcuts you already know and comes with a converter for Quicken files, making it easy to transfer your data."

Thanks for the info Bob!

I did try to convert my Quicken Account to Money last year, but Money did a very lousy job of it. Important Investment Information such Purchase Date and Number of Shares were missing or inaccurate. Also there are some features of Quicken, that Money does not have, and of course you simply lose any data you had in those features.

[MJ]

I have Q2002 and they are pulling the plug on the downloads as well. I won't be able to download my portfolio activity. I use TurboTax Deluxe and now I can no longer import my Q2002 stock transactions. It asks if I want to purchase Q2005. Thanks for nothing.

Intuit is a piece of work. They offer the basic Q product for free after their mail in rebate, but it looks like you get what you paid for, nothing.

It seems for some software companies, progress mean taking 0 step forward and 2 steps backward.

MJ :-/

I just downloaded my Bank Transactions to Quicken and Luckily for me, they support the OFX transaction.

I can not use Microsoft Money until they get a workable Quicken to Money Conversion Program.

[Bob_Smith]

Cut-Throat, I'm in the same boat. I don't want to lose pieces of my historical data, or be in a position where I don't trust that it's accurate. For now I'm going to just import my bank's QIF file into Q2003. Hopefully Money will come up with a decent conversion program before my CU stops providing QIF files. I've been using Quicken since Version 2 for DOS.

[FunGoals]

I installed Quicken 2005 about 2 months ago. I recall having a problem with the installation that I have had before. The 2005 version deletes the previous version. After the " deletion " the 2005 version still would not load. Turns out the 2004 version was still listed in the " programs " folder with several files inside.

There is always a work-a-round. I renamed Quicken " Buicken " & sent it to the recycle bin.

After installing the 2005 version. I loaded my data from floppies. The new version converted the files to the new format. I did not have any problems with online updates from my financial institutions.

I recall seeing a note somewhere that the new format was being phased in. It will be fully implemented in 2007. Perhaps the 2005 version supports both update formats.

A work-a-round for concern about the new format is to backup data on external media & install the 2005 version if it does not work reinstall the previous version.

[Jay_Gatsby]

Quote:

There is always a work-a-round. I renamed Quicken " Buicken " & sent it to the recycle bin.

Isn't that what people normally do with their Buicks after about 30k miles?
:P

[wzd]

I objected to Intuit's "requirement" to upgrade to Quicken 2005, and downloaded Microsoft money and tried to do a few common tasks. Maybe I haven't used it enough but I found it very awkward. So much for my first thought of switching away from intuit's Quicken. (Note: I have switched away from Intuit's turbotax to taxcut...and been happy).

So I guess it's the old rock and hard place dilemma.....For now I plan to wait, use money a little more and see if the threat about Quicken 2002 downloads really comes to be. I'll make a decision later.

There have been times I wanted a 2nd windows installation on my machine - for testing questionable stuff like quicken 2005. Maybe it's time I actually bite the bullet and do it, based on the earlier comments, since I will need to keep access to quicken 2002 (business version, for old records).