Add true multi-currency conversion support in Quicken for Mac (317 Legacy/Merged Votes)

jacobs

For what it's worth, this idea has been marked as "Planned" by the developers. Like all new features, we don't know when this will be completed and released, but it is coming. 

Vinícius Melo

Well... I bought the Quicken for Mac 2 years ago and when I realized that there was no multi-currency feature I returned. I am waiting for this development since then. And I am sure that there must be other people waiting a way longer than that. This is simply unbelievable.

czhu4774@

I've been using Quicken for Windows for several years and just tried Q Mac today. Noticed that the multi-currency feature is not yet supported which is a MUST for me. Have no choice but stay with the Windows version for now...

Hillel

> @smayer97 said:
> Please add the ability to record foreign currency exchange rates to be used for conversions, with the following functionality:
>
> - ability to either manually enter or download currency exchange rates to track conversion rates
> - ability to apply exchange rates for transfers between accounts in different currencies
> - ability to apply exchange rates on reports using accounts in different currencies
> - ability to apply exchange rates on investments, to track values in local currency as well as original currency
> - allow showing balances in sidebar in base/local currency, applying currency conversions
> - if possible, allow having transactions with different currencies within the same account (useful cases include credit card purchases in different currency, multiple stock holdings in different currencies in same investment accounts)
>
> - also support carrying over currency conversion rates when migrating from QWin to QMac.
>
> (If you find this feature helpful, please be sure to click "VOTE" above to increase the count of this post and therefore its visibility to other users and to the developers.)
>
> Click "Follow" at the top if you want to receive notifications of any replies to this thread. 

same here

zamo132

Any update on ETA? I want to convert from windows to Mac, but when I tried doing that, all the transfers from accounts with different currencies have disappeared, resulting in incorrect balances.

jacobs

@zamo132 Unfortunately, we never get an ETA on new features. The developers have a long list of enhancements they are working on or plan to work on, but they don't disclose when they think certain features will be released. Sometimes, things get done sooner than they first expected, but more often, complications arise that make development take longer. So they share nothing, rather than sharing a date or timeframe and having users get angry if something is delayed. While a lot of us think them giving even broad time estimates -- e.g. first quarter 2022, second half 2022, not in the next 18 months, or whatever -- would be helpful in setting our expectations, they feel it's better to say nothing and simply release features when they think they're ready.

Dave Ings

I've commented twice on this thread, in 2018 and 2020, so I won't repeat those comments.

However I wish to observe that with Apple well along in its transition from Intel to Apple (M1) processors, it won't be that long before running Quicken Windows on a Mac (in Parallels or VMware) will not be possible on newly purchased Macs. 

I have a 5+ year old Intel based 27" iMac I run Quicken on (in VMware) but as soon as an M1 based 27" iMac is released it will be replaced. It's going to be a *big* problem for me if Mac Quicken doesn't support multiple currencies by then.

So please get this feature completed and released!

jacobs

@Dave Ings You can run Quicken Windows on an M1 Mac -- today. Parallels supports it; you need to use the "Windows 10 on ARM Insider Preview" version of Windows in the VM. (VMWare Fusion, the other widely used VM software just in the past month recently released a "private tech preview" which can run the Windows 10 ARM version, so they seem to be getting closer to full support, but they're further behind than Parallels.)

Of course, this all hinges on what Microsoft does with their support for running on ARM machines. MS recently indicated that Windows 11 will not officially support running on M1 Macs through virtualization software. Whether they block it or just don't officially sanction it, the future of Windows on M1 Macs remains hazy. But if you want to do it today with Win 10, there's a path to do that.  This is all tangential to the issue of this thread, of course; I just wanted to offer that info in case it helps you.

In terms of full multi-currency support, the best we can say is that the developers have officially committed that this is on their roadmap for implementation. But as always, we don't know in what timeframe to expect to see it.

pd500

Please please soon please

Dave Ings

jacobs thanks for taking the time to post.

I was aware of the Windows ARM x86 emulation options you mention, but the associated technical and product limitations - some of which you mention - IMO doesn't make that an appealing option.

scoppen

> @pd500 said:
> Please please soon please

Hear, hear! There is no reason in the 21st century why multicurrency support should not be a standard feature

osvaldo

Sure,I use the old 4 window version in spanish,and it has a full multi currency,linked transfers etc. I don't know why Mac version is so poor, I had to install Parallels in my iMac to operate

JoelC

A few things based on the above...

1. I am a long time QWin user - since 1995. The only Windows application I have running on my MacBook is QWin (through Parallel) but my MacBook is 10 year sold and needs to be replaced. There are no more Intel based MacBooks so I decided to give QMac to chart the ay forward.


2. I am also a Canadian QWin user and want to clarify one point. The QWin Canadian version has one significant f/x flaw in that multi currency reports convert non-CAD amounts to CAD using the f/x rate in effect when the report is run rather that the f/x rate when teh transaction took place.

I recently purchased a few items in USD for a home renovation. I then compared the total of my renovation that I had recorded in Quicken to the total cost of my renovation that my contractor was tracking and they differed.

The difference was that the Quicken total was using the f/x from the date(s) that I ran the report whereas my contractor was using the f/x from the date the item was purchase (i.e. the actual f/x).

There is NO OPTION in the customized report window to override this!

Why there would not be one is puzzling particularly given that the f/x rates used to convert CAD to USD are readily available (read "records") in the linked transaction!


3. I understand that full f/x functionality is a heavy lift. I think that Quicken is doing a disservice to its installed QWin users who wish to move to QMac. I further think that there is a middle of the road approach that Quicken could implement that would lower the temperature.

The biggest -- at least to me -- obstacles of converting from QWin to QMac today are:

a. The loss of data integrity in converting from QWin to QMac (i.e. loss of actual / historical f/x rates in linked transactions, transfer details for investments, unlinked transfer, etc.). Were data integrity perfectly maintained in the QWin to QMac data conversion process then I could move to QMac with confidence knowing that full f/x functionality is under development because I would be able to leverage that maintained data integrity once QMac rolled out new features.

b. The inability to convert from QMac to QWin which makes the move to QMac somewhat permanent.

Were 3a. and 3b. not issues then moving from QWin to QMac would be risk free knowing that once could wait for QMac to roll out full f/x functionality (because the data integrity was maintained) or revert to QWin were the wait too long.

With that said, why doesn't Quicken fix the QWin -> QMac data conversion integrity issues (as this needs to be regardless of full f/x functionality) and provide QMac -> QWin data conversion capability as well?

Would this not make people feel more comfortable with migrating? I know it would for me!!!

Tibo2004

Please add this to Mac...

ym237

Yes please! I am getting desperate

rprasadusa

Just adding another plea ... been using Quicken Mac forever, about to move abroad, NEED multiple currency support!

Vinícius Melo

It is unbelievable that until now there is no development or feedback about multi currency for Mac.

jacobs

Vinícius Melo said:

It is unbelievable that until now there is no development or feedback about multi currency for Mac.

Well, to be accurate, on the first page of this thread, it is stated that "This request has been accepted by the Development team for future implementation." So there is feedback: they plan to implement this functionality. That said, unfortunately, we have no idea if they are currently working on it — it's likely a major project because it touches so many parts of the program — or when it will appear. Quicken never pre-announces when new features will arrive because they don't want to anger users if they encounter delays. 

Vinícius Melo

Tecnically you re right, Jacobs. But I've been waiting for this for more than 3 years, when I first contacted them. There are people waiting much longer. Quicken is losing market share due to the lack of response and execution. This is a basic feature that they already have on Windows. I cannot understand.

jacobs

Yes, I'm not suggesting it hasn't been a long wait. As for the part you don't understand, it's actually rather simple (although not satisfying): they have requests for several hundred features from Quicken Mac users, and the ability to work on a small number at a time. So the developers are constantly evaluating which features they think will impact the largest number of users, or have the largest impact overall. Some projects also depend on specific developers or designers with skills/knowledge about certain parts of the program. Whether a feature already exists in Quicken Windows may help with acceptance of an idea as a needed feature, but it doesn't necessarily move it higher on the priority list. 

The developers have acknowledged this is a feature which users want and which they agree should be added to the program. That's actually a huge first step, because there are many other ideas for valid and needed improvements which have not yet been marked as "Planned." But, as we see in this case, once they mark it "Planned", there's just no way to anticipate when it will materialize. Is the delay because of the complexity of implementation? Or because they think it ranks lower in priority than some other features? We just don't know. So yes, the long wait is frustrating — I get it.

lwebs

I, too, am a long time Mac Quicken user getting tired of the wait. I would welcome suggestions as to alternatives to Mac Quicken that do offer this functionality.

jacobs

lwebs said:

I, too, am a long time Mac Quicken user getting tired of the wait. I would welcome suggestions as to alternatives to Mac Quicken that do offer this functionality.

@lwebs Just FYI, the Quicken moderators will not allow discussions of competing software products on this site. 

newtonabdalla

Same here. Tired of waiting for this feature for years now. I am forced to use Parallels Desktop in order to run Quicken for Windows.

Vinícius Melo

But paying $100 a year of parallels just for running Quicken is something uncomfortable

AJafari

Let's go Quicken Product dev team! I know you have a lot on your plate, but this is critical for us to get comprehensive multi-currency support.

lwebs

Yes. Been waiting for this for over six years. Where is multi-currency support for Mac on your priority list?

RTRhoade

I recall looking into this many years. I've been a Quicken Mac user since 2009 and I live overseas so use multiple currencies. The fact that this still is not resolved seems ridiculous. I have to do my manual conversion off line. Thank you MS Excel!

lwebs

More than ridiculous!
When will this feature be added, Quicken?
What’s the holdup?

> @RTRhoade said:
> I recall looking into this many years. I've been a Quicken Mac user since 2009 and I live overseas so use multiple currencies. The fact that this still is not resolved seems ridiculous. I have to do my manual conversion off line. Thank you MS Excel!

Vinícius Melo

Basic feature. Already have on Windows.
There is no reason for holding this for years, saying that it is with the dev team.
Lack of respect with loyal customers.

jacobs

lwebs said:

When will this feature be added, Quicken?
What’s the holdup?

Quicken  never shares when new features are expected to be released.

What's the holdup? They have 500+ feature requests, and they can only tackle a few at a time. They juggle the requests based on what they think is most pressing for the largest number of customers. Since this thread is marked as "Planned", that means it has been allotted time on their development schedule — but we  get no clues as to when it will be completed. 

Vinícius Melo said:

Basic feature. Already have on Windows.
There is no reason for holding this for years, saying that it is with the dev team.
Lack of respect with loyal customers.

It is  not  a "basic feature". It involves many changes to the database, registers, sidebar and especially reports. Of course, anything is programmable — but this is neither simple nor basic. The fact that they haven't added this feature which you want does not  mean they don't respect their customers; many other customers have different wants/needs.

For instance, I have no need for using multiple currencies, so I'd list many other features above this one in importance/usefulness to me. But some of the things I'd put on the Top Ten list of features I want to see may be of little or no importance to you. (I'm in no way arguing against this feature.) Quicken is a complicated program, and we all use it differently, so addressing the wide gamut of feature requests means that each new release is pretty much guaranteed to please some people and disappoint others.

There are many features which exist in Quicken Windows which don't (yet) exist in Quicken Mac. Quicken Windows has more than three decades of development work, while Quicken Mac has about one, so Quicken Mac will be chasing the feature set of Quicken Windows for many years to come.