Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 01-05-2016, 09:39 PM   #21
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,290
RunningBum,

I have used many different accounting programs and the one thing that I can say is that almost every one will let you do what you want... ie, what you asked to do in your first post...

The issue is how easy or hard it is to get what you want done.... some make it a breeze, where some make it a burden on you to get things right.... as an example, your pension value... I bet almost any program you use you will have to do the calculation and change it on whatever time scale you choose...

As for cash etc., a specific date (as someone mentioned) usually takes care of any future items... it is only when you put 'all' where it does every entry...


I have not used Quicken in many years.... when I did I got tired of making sure everything was up to date.... it took way too much time and effort... so, I basically just kept up with my investments and spending (and spending was not always accurate).... I would have to make correcting entries all the time whenever I noticed something wrong... not often, but enough to drive me crazy since I am a CPA and want everything to balance all the time...

Now I just use a spreadsheet for my monthly spending and have my investments listed in Vanguard... not the best, but way easier for me to get it done....
__________________

__________________
Texas Proud is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-05-2016, 10:39 PM   #22
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,481
Yes, you can decline to categorize any expenditure. In some reports it is in an uncategorized listing in other reports it is as if it doesn't exist.

I have all my regular income and payments set up as bill reminders and Quicken does a future projection of cash flow. As bills come in, I update it. This is what I use to make sure I don't overdraw my main bill paying account.

You could set up a deferred tax liability accounts to capture deferred taxes on your investment account if you wish, but Quicken will not calculate it for you.... you'll have to calculate it based on unrealized gains for taxable accounts (which Quicken will provide if your run a report) and your tax-deferred account balances at the end of each quarter times the tax rates you select and then update the deferred tax balances in Quicken.

In the Lifetime Planner it considers SS and pensions as income, but if you want to you could set up asset accounts for the value of SS and pensions. Similarly to deferred taxes, you'll need to manually update them and the exclude them as retirement assets if you use Lifetime Planner to avoid double counting.

While there is a bit of training you'll need to do to Quicken, it learns what categories apply to certain vendors you use regularly and suggests a category based on similar categorization of payments or charges to that vendor. I download all charges from my three credit card accounts (only one has a lot of activity) and bank accounts and categorize everything. I use a single category... spending money... for ATM withdrawals. Once Quicken learns your categories, updating is pretty easy.

You can put future payments in your register and they will show in the account but they will not show in your balance on the accounts bar until the date arrives. They will show up when due to be paid in a cash flow graph.

Alternatively, you could use Quicken for your "basic" accounting, copy and paste your basic balance sheet into one Excel sheet and then have another sheet that draws from those totals and adds deferred taxes and values of SS and pension using formulas to get the balance sheet view you want. I do something similar for my investments where I import my securities and balances and use a template to look at asset allocation the way I prefer. I have to fiddle with it when I add securities, but most of the time it is a straight import and using Excel to grab the data I want from the Quicken report and report in in the manner I want.
__________________

__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
pb4uski is online now   Reply With Quote
Old 01-05-2016, 10:47 PM   #23
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,481
Quote:
Originally Posted by RunningBum View Post
Sounds like the calendar view does handle the future payments how I want very well. Thanks for the info.
Actually, I find the Planning/Projected Balances view handier and have made that for my main checking account for the next 90 days as my Home view. So I can see at a glance how much is in my account, how it will rise and fallover the next 3 months and if the balance will get uncomfortably low during the next 90 days. You can also click on any rise or fall to see the detail and edit it as necessary.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
pb4uski is online now   Reply With Quote
Old 01-06-2016, 07:32 AM   #24
Recycles dryer sheets
 
Join Date: Oct 2012
Location: Houston
Posts: 67
I use quicken, I love it - all works fine for me - upgrade to 2016 was a little problematic but only took a few hours to correct and bring up to speed.


Quicken is very flexible and can do just about anything that should be done - Portfolio review and analysis is done in Excel, only because on my modeling, tracking/updating of the portfolio is done in Quick. The daily account updates I love due to living in SE Asia. My European and Asian accounts will not work with Quicken due to there added layers of security ( ID/Passwords need to be keyed in for on like keyboard and Security computer tokens.


From my perspective, I would think carrying my investment net of tax would be a literal nightmare due to not knowing year to year what my take rate would really be. Since I retired in 2013, and work overseas, there are just to many variables to even reasonably estimate tax
__________________
Loving Life is offline   Reply With Quote
Old 01-06-2016, 09:20 AM   #25
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 5,196
Quote:
Originally Posted by Loving Life View Post
From my perspective, I would think carrying my investment net of tax would be a literal nightmare due to not knowing year to year what my take rate would really be. Since I retired in 2013, and work overseas, there are just to many variables to even reasonably estimate tax
Did you mean to say that you live overseas, or are you actually still working?

We all face some uncertainty on future tax rates, but unless you ignore or defer the uncertainty, you either have to handle it in budgeting an income tax expense or a reduction on the asset. Amounts to the same thing as far as I can see. I don't know how I'd handle your situation. Reasonable worst case maybe, or maybe I'd switch methods and just budget year-by-year and defer the future tax uncertainty. A bit dangerous, but I guess you can move if it gets too high.

The history of why I started doing this is that I started the spreadsheet to track employee stock options. Once they got large in value, I realized that I'd be taking a big tax hit in the near future since there were expiration dates and they couldn't be carried more than a month or three into retirement. So I reduced them by estimated taxes to give me a more realistic view of what I'd get from the options. As I added other investments, it made sense to follow that model to account for my IRA/401K at a lower retirement rate, and cap gains.
__________________
RunningBum is offline   Reply With Quote
Old 01-06-2016, 11:12 AM   #26
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,481
So OP, how are your leaning?
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
pb4uski is online now   Reply With Quote
Old 01-06-2016, 02:13 PM   #27
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 5,196
I'm leaning toward keeping my current system or maybe going back to the more detailed budget spreadsheet I was using a few years ago if I really want to track categories. I feel like it'd be more work for me to adapt to Quicken without a lot of gain.

I decided to try Mint with a couple of accounts, and so far I'm not too thrilled with the interface nor having to go in and classify a lot of things. It seems to be more that I have to find things rather than have it tell me what I have to do. But if it went the other way I'd probably not like it wanting me to do things I'm not going to use it for. Not sure how much Mint is like Quicken, but I'm guessing the basics aren't too different. Maybe I'll get more comfortable with using it and it'll get better.

As far as my investments go, I like my current spreadsheet and going through Quicken just to have a different way to feed my spreadsheet doesn't seem worthwhile, especially since it seems like I can't do analysis on the after tax numbers like I want to. Vanguard already has tools for total return and asset allocation for what I can't do myself.

Again, I really appreciate all of the input and feedback, and responses to my questions. Hopefully others considering Quicken will find it useful and people should feel free to use this thread to ask their own questions, if they want to.
__________________
RunningBum is offline   Reply With Quote
Old 01-06-2016, 09:19 PM   #28
Full time employment: Posting here.
Ronnieboy's Avatar
 
Join Date: Feb 2008
Posts: 646
I just bought Quicken at Costco for $20 off when I was picking up my copy of TT. I am not so hot with using excel and didn't really like Mint, so I was hoping that by getting quicken I could actually get a budget going and feel better in control of our money. Now I just need to get it loaded and do whatever I need to do.


Sent from my iPad using Early Retirement Forum
__________________
I don't want to spend my entire life at work. I deserve more. - Want2retire aka W2R
Ronnieboy is offline   Reply With Quote
Old 01-06-2016, 10:17 PM   #29
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,290
Yea, I downloaded Mint and also thought that it was not 'easy' right out of the box....


I just do not care to track that much.... it will not change DWs spending habits and that is where I need the most help... so I only keep the main categories that she does not spend (even if the costs are hers) such as house, car/boat, insurance, taxes, vacation and a couple of others... the rest is in 'all other'....

OHHH, I do not keep track of my 'income' except for balancing the checkbook....
__________________
Texas Proud is offline   Reply With Quote
Old 01-09-2016, 01:30 PM   #30
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 5,196
Dumped Mint already. I added my VG account. It needed an authentication code, which they texted to me. I like that for security. Logged back in again and they sent another auth code to update the info. OK, that's fine too, not sure I really want to deal with that every time I login to do something on Mint, but I can ignore it if I don't care to update the info for that session.

Periodically over the next couple days I gets texts with a new code, even though I'm not logged into Mint. Apparently it tried to keep the info current in the background. I really don't want to be bugged by texts at random times during the day. I deleted the VG info from my Mint account. Thought about it for a minute, realized I wasn't going to use Mint, so I pulled the rest of my accounts too. Didn't immediately see a way to delete my Mint account completely, but if I get nagged again somehow I'll figure it out.
__________________
RunningBum is offline   Reply With Quote
Old 01-10-2016, 06:39 AM   #31
Recycles dryer sheets
 
Join Date: Apr 2013
Location: Humble
Posts: 188
I used Quicken for years, until I got a free version of Microsoft Money. I continue to use MM, although it's now a 'dead' 'product. It'll do most anything Quicken will do.

Download here. https://www.microsoft.com/en-us/down....aspx?id=20738

I don't know if the download/install will work if you don't have an old copy of MM (either on the PC or on a CD).

The link says online access doesn't work, but I routinely do portfolio updates using it and the stock/fund prices update.

Anyway, if you're interested, it might be an option.

I keep the checking, savings, asset accounts (vehicles, home), home loan in MM. Also investment accounts, but this is just one line for each holding. So I can run budgeting reports, net worth, tax reports etc.

I use Google Sheets instead of Excel, as it allows me to check these at work also. Here the most important is a spreadsheet for all the investment accounts for annual return, ER, etc. It also does AA calcs across all the accounts.
__________________
Turn_the_Page is offline   Reply With Quote
Old 01-10-2016, 08:39 AM   #32
Thinks s/he gets paid by the post
zinger1457's Avatar
 
Join Date: Jul 2007
Posts: 1,455
It was time to update my 2013 Quicken before it expires in April. Amazon has the Quicken 2016 Deluxe on sale for $30 so went for it. Well worth the $10/year cost IMO. The upgrade went smooth and fast, the interface looks very similar to 2013 but haven't dug very deep into it yet.
__________________
zinger1457 is offline   Reply With Quote
Old 01-13-2016, 11:28 PM   #33
Recycles dryer sheets
 
Join Date: Nov 2013
Posts: 79
@Turn_the_Page Interesting, I loved Microsoft Money and only moved to Quicken when Money died. Does this sunset edition also import your banking transactions, or how do you keep that updated? Are you manually entering data (ugh) or downloading a transaction file for each account?


Sent from my iPad using Early Retirement Forum
__________________

__________________
Done is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Which Turbotax should I be using? stephenson FIRE and Money 12 12-04-2015 07:08 PM
Anybody using CrossOver software on Mac to run Quicken? spncity Other topics 6 04-03-2014 06:52 PM
Using Quicken question bubba FIRE and Money 25 07-30-2008 05:52 PM
Should He Stay or Should He Go margaritavillebound Hi, I am... 12 07-16-2007 10:34 AM
Iraq and the Kansas Tornado. You should be angry. We all should. newguy88 Other topics 16 05-08-2007 08:20 AM

 

 
All times are GMT -6. The time now is 07:25 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.