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Quicken 2017 Update

A while ago I wrote a review of the Quicken Business & Home 2017 (Canadian Version) . In that review I mentioned the Quicken iPhone/iPad app (I think there is an Android version as well). I have a better perspective on the subject, after trying them out.

Quicken 2017

Quicken 2017 Canadian Edition

I installed the Quicken app on my iPad and on my iPhone and initially I didn’t think about using it, but that has changed. Most of the time (when I remember), I will enter new transactions on the Quicken 2017 App, and sometimes even take a photo of the receipt.

The application itself seems to have some brains in it, as it will use the GPS and map data in your phone to try to guess where your expenditure happened. An example was when I was at Costco, and in the parking lot, I input the ridiculous  amount that we spent, and the App filled in the “Spent at” field with Costco. You can override this capability, but this is kind of nifty (while being a privacy concern too).

Another Step in the Right Direction

If Quicken continues to support these adjunct programs for its Quicken system (in Canada) this may be a big plus to the whole program. My hope is that the Quicken Cloud has a high level of security around it. The information in the Cloud would be highly valued by hackers.

If they could make Quicken 2017  easier to track investments that would be better. Currently there is a lot of manual data entry to track your investments.


Quicken Review – The Year of the Comeback?

After the Quicken 2016 debacle, I was very suspicious of even thinking about purchasing Quicken 2017 Canadian edition. I noticed a Quicken iPad (and iPhone) application which said it should work with Quicken 2017 Canadian edition, so that tipped the scales for me.

Quicken 2017 Canadian Edition
Quicken 2017 hopefully a better version than this one.

Intuit has stepped away from this product, so it is back to being a Quicken product. HIG Capital owns the Quicken brand, but they are letting the Quicken team run things. What does this mean for the Canadian Edition of the product? So far it suggests they are trying to make the Canadian product a more suitable product, but again, we shall see.

I ended up buying Quicken 2017 Home & Business with Premium Support, using the discount message from Quicken 2016, which brings you to a purchase page. The exciting part of this was that the price quoted was $80.77 for Business and Home (the deluxe version), but after I purchased it, there was no delivery charge or taxes charged either. I suspect this is a mistake they will remedy (i.e. Charge HST). The delivery was only a download, so maybe free delivery is OK too.

I am concerned that this is a subscription (that is what my invoice shows). I have not purchased anything, I have paid for a yearly subscription. My suspicion is this means I will have to renew this yearly.

The new version installed just fine and didn’t seem to have any issues with my huge archive of transactions (it is massive).

I then tried to set things up so I could use the iPad and iPhone apps, where things got interesting. To use these applications, you must use the Quicken Cloud. The Cloud is not a backup of your data but where data transfer can transpire. Quicken is very specific, pointing out that their Cloud is not a backup (you will need to keep doing that yourself). The Quicken cloud relies on having a Quicken login, so you will need to set up an account if you want to use these apps.

The cloud seemed to rely on being able to download automatically to your Quicken, so I tried to get that working with my TD accounts. It didn’t work, however, after a few failed attempts, the Cloud suddenly was getting the correct data, and that meant I could use the iPhone app.

The iPad and iPhone apps are good, and free too. Please note there are two separate apps, the iPad version works as an iPad app (i.e. it uses the whole screen and will rotate, and other nice features). The major things these apps let you do are:

  • Input transactions on your phone, which will then go into the cloud. It works quite nicely and gives you the ability to store a photo of your receipt as part of the transaction.
  • You can look at your current financial status, and you get some nice graphics that show where you stand, and get some elementary reports.
  • Other things I haven’t explored yet.

All in all I think the apps are worth using.

I have used the product for about two weeks now, and it seems to work just fine. I have had no crashes (which I had many, with Quicken 2016). However, the start-up is relatively slow. The startup on a regular PC Laptop with 8 GB of memory should not be this slow, and the need to log in each time slows things down too. The cloud update seems relatively quick, but I never automatically got the update with your bank to work. This is not a problem downloading the file from your bank website.

Verdict Quicken 2017 Canadian Edition

For the price I paid, and the added features of the apps, I think this version of Quicken is worth buying (especially if you haven’t bought it in a few years). The subscription angle concerns me, but we shall see what comes of that. I also haven’t tried out the Premium Support part of my subscription yet, another area I will investigate further.

The drawback is there is no official Canadian Mac version just yet. I have heard you can buy the U.S. version and it should work, but I wouldn’t chance that just yet.

One final concern is the Cloud. How secure is it? We have seen many security breaches in these types of data configurations. Let us hope this does not happen here.

Overall Review: A good restart on a product that needs a lot of fixing.

Quicken 2022 Follow On

A Canadian Mac version is almost up to date with the PC version. With your subscription, you have access to both. Integration with the Cloud works relatively well too. You can use it on an iPhone, an iPad or in a browser. I am still using it.

Also note that Canadian Banks do not like you connecting your online banking to the Quicken Cloud.


Mac Quicken (in Canada) ?

This entire post is now redundant. The new Quicken for Canada includes both a Mac and PC version, as part of your license. This means you do not need to run VMWare to use Quicken on a Mac (or an iPad or iPhone). Glad to see the owners of Quicken decided to bring this back.

One of the really lousy things that Intuit (or Quicken) did to Canadians, is they stopped having a version of Mac Quicken that worked in Canada for about the past 10 years. Mac Quicken 2007 is the last supported version of Quicken that runs on a Mac. This means works with Canadian banks, as well. I have read that Mac Quicken 2007 no longer works with either the current Mac OS, or the Canadian Banks.

There is a very good article about how you can use VMWare to run a PC version of Quicken on your Mac. The article outlines the steps needed, and is an excellent resource for those that feel they are nerdy enough to get it to work (thanks to InvestorJunkie).

Mac Quicken
Never in Canada is my guess that you will ever see Mac Quicken

The Mac Quicken Challenge

As my regular readers know, I am that nerdy, so I tried this out, and it worked, but, not the way I wanted.

The Mac I used was a MacBook Pro with 8 GB of memory running, Mac OS Sierra.

Download a trial version of VMware (which will give you 30 days to try things out). You will need to either have a spare Windows 7, 8 or 10 license hanging around. It can run on a trial Windows license as well.

The VMware Fusion documentation is really straight forward (IMHO) so setting up your PC environment while time-consuming is straightforward. The hard part is figuring out how much memory and disk space you want your VM to use. On my system, I gave it 4 GB of memory and 60 GB of disk space (which was on an external USB hard drive)). This seemed to be sufficient to get it all running.

You will also need a Quicken for PC license (click here to buy from Quicken). I had a permit, so this cost me nothing. If you don’t have a spare license, I would think about whether you want to spend that much money on an experiment.

I installed Quicken, restored an old Quicken image and gave it a tryout.

This hybrid Mac Quicken worked, no problem. However, I found VMFusion as being a cumbersome process on my laptop (it might work better if you were running on a Mac Mini or a desktop system, which might have more processing power or memory). I was also comparing run my Hybrid Mac Quicken to running Quicken on an older PC Laptop (Dell) that I had lying around.

Mac Quicken Findings

Both versions of Quicken worked fine (both PC remote and Mac VM). The advantage the VMWare version has is that I can run it on your Mac wherever you are. The PC Quicken, I had to have the PC available (using Remote Desktop) to make it work.

In the end I found the VMFusion idea a little too cumbersome for my liking. The system kept slowing my Mac laptop down. Unfortunately, bringing up Mac Quicken was slow to begin with.

I have stuck with running Quicken on my old PC laptop. This was a fascinating experiment. I am not saying this is a bad idea, it just didn’t work the way I wanted it to.


Quicken 2016 Canadian Edition Review

Quicken has come out with a new version of Quicken (Quicken 2016), which has many great new features. I’d love to be able to write that, but there is no way I can. As usual the 2016 version (in Canada) is similar to Quicken 2015 in its complete lack of new features (in the Canadian edition).

If you look at the US Edition and all of its fantastic new features (including a version that runs on the Mac!) you’d think things are going great, however in the Canadian edition, you get:

  • Nothing new. Some bug fixes, but no new functionality (that I can see).
quicken 2016 review
Quicken 2016

If you look closely at the “About” entry in the “Quicken 2016” that I paid about $100 for, you see:

Release R 2 (25.2.8)
Canadian Edition
© 2015 Intuit Canada ULC

Excuse me? It is not even copyrighted for this year? Suggests to me, this is a simple bug fix release, and not even a “new” version. When I downloaded it (however), the name given was:

Quicken Home & Business 2016 – Download

In fact, Intuit Canada, seems to have nothing to do with Quicken Canadian edition, you have to go to the Quicken.com/Canada web site to find information out about it.

Why did I buy this? My Quicken 2015 wouldn’t actually work anymore, so I figured I’d try the new version and that does seem to have fixed my issues, except I still can’t download investment information without it crashing. If you read the Quicken web site, you can see they are encouraging folks to keep upgrading your system:

In an ongoing effort to provide reliable high-quality products and services, Intuit periodically retires (also known as “sunsets or discontinues”) older versions of Quicken, thereby discontinuing online services and live technical phone and email support for these versions….. Sunsetting older versions of Quicken allows us to focus resources on enhancing our products and providing support for more current versions, which are used by the vast majority of Quicken customers.

Review of Quicken 2016 Canadian Edition

If your Quicken 2015 (Canadian Edition) is working just fine, then give Quicken 2016 a pass. Maybe something better will show up next year? Note there is no link to where you can buy this product. I do not suggest you buy it, wait and see what Quicken will do about this product.

I will continue to use the software, but that is because I have no other option. I am doing this even though I am mostly running in a Mac environment.

Final Note

There is a new version Quicken 2017 that seems to be heading in the right direction, and you should try that one out.


Quicken and Transfering Mutual Funds?

So I tripped across an attractive feature in Quicken’s investment tracking feature (back in 2014). Quicken, in one transaction (well, it does the delete and add a transaction for you from what I can see), Quicken transfers mutual funds from one account to another. Big deal, you say? Well, for me, over the past few weeks, this has made my life simpler tracking my TD Mutual Fund Accounts.

Next question, why do you have TD Mutual fund accounts? Aren’t you a TD Direct Invest representative? I didn’t initially start with TD Mutual Fund accounts. Remember there are three different silos in TD, the Banking Side, The Mutual Fund Side and TD Investments. There is also insurance and a few other sides, but I shall leave them out for discussion. When I first opened RESPs and an “Emergency” account, I was a customer of Canada Trust. They didn’t have an “Investing Wing” (I wouldn’t have known what to do back then).

Quicken transfer mutual funds
Another intricate Dance to Change Things at TD

When TD purchased CT long ago, all my CT Mutual Fund accounts became TD Mutual Fund accounts. All of my CT mutual funds turned into I-series TD Mutual Funds (again, before I understood the higher MER Mutual Funds).

I finally got off my lazy derriere and have transferred all of those I-Series funds to E-series funds, using the same models as outlined in Ideal Portfolios  :

TDB909 – TD Canadian Bond Index (e-Series)
TDB900 – TD Canadian Index (e-Series)
TDB902 – TD US Index (e-Series)
TDB911 – TD International Index (e-Series)

To be able to use these Index Funds in your Mutual Fund account, you must Mail (by Canada Post, no Faxes allowed) the following:

Your TD e-Series Funds account is opened after your original, signed application, and TD e-Series Funds Understanding and Consent form are received by TD Investment Services Inc. (TDIS). Unfortunately, we are unable to accept applications by fax.

This all assumes you already have an account. If you don’t have an account, might I suggest going straight to TD Direct Investing? TD Mutual fund account allows you to purchase only TD Mutual Funds. This limitation seems evident in the name but needs to clarify.

Once you get all of your “OK, you can use them” confirmations, you can go online and use Quicken transfer mutual funds to move the associated I-series fund to an E-series fund (and thus save on MERs and such).

Finally, we have reached the Quicken part of the discussion. If you have your Mutual Fund savings account set up in Quicken (and why wouldn’t you?), you would go to the account and choose Enter Transaction.

If you search down the list of possible transactions (once the dialogue box comes up), select Mutual Fund Conversion, and the dialogue box will then only ask you for:

  • Date of the Transfer
  • The Mutual Fund it is coming “from”
  • The New Mutual Fund to use (you may have to create that in Quicken)
  • How many shares were created of the New Fund
  • How much the price was (per share) of the new fund

And let it run its merry way. Quicken removes the holdings of the old security and adds the new security holdings to your account. After this, you are now tracking the suitable funds.

I have always been pretty lazy when it comes to tracking my investments, but I am trying hard to keep a closer track of all of my various investment vehicles (as I close in on retirement).

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