Quicken for Mac v5.12 Released

Robert Galley

Applied V5.12 today. I have 6 years of data and the file conversion completed in seconds. After pulling in my account transactions I walked thru new payee and reporting features: these will save me lots of time. Comparative reporting is very handy for research and budgeting: all results checked out and cross-footed. I appreciate the Adjust Account Balance feature not just for active accounts but for assets as they grow or decrease in value. Help access to new features and Release Notes minimizes tracking them down. Though I still have some outstanding issues I'm waiting on, this looked clean for me and with significant added value. Thank you!

Steven

Received an update message this morning, but did not have time to install before running the morning's processing. Want to update now, but cannot find a link to 5.12.1. How do I get the update? Recurring transaction and payee improvements alone will make it worthwhile for us.

jlgg

Updated to 5.12 today with no issues. I was excited to see in the release notes that the issue of Quicken not recognizing the tax free flag on some securities had been addressed. I hoped this would correct a long-standing issue I have with my portfolios, but it seems to have made no difference.

My portfolios contain a sweep vehicle similar to an interest earning money market account. The brokerage statements identify the security as MMDA which I assume stands for Money Market Deposit Account. I have set it up as a security in Quicken without a symbol and checked the tax fee box. The cash in this "money market account" is used to purchase or sell securities, to move cash from dividends out of portfolio cash, to pay investment advisor fees etc. When these transactions are applied by the brokerage, it means the cash value of the accounts is returned to $0 since all the cash is held by the sweep money market. This works perfectly in that my account balances always agree with the brokerage statements.

My issue with this is that each of these "sweep transactions" appear in the Tax Schedule Report as well as in the realized gain section of the portfolio window. There are many dozens of these transactions each year. Like all money market accounts, the share asset value remains at $1.00 and therefore there are never any capital gains associated with the transaction. The totals in the reports are therefore correct, but the presence of all these Money Market transactions makes it difficult to read the reports or realized gain section of the portfolio and see those transactions that actually do generate capital gains.

In Quicken 2007 this issue is taken care of by having the ability to exclude individual securities from the report. I had hoped the tax free flag in this new update would solve the issue for me, but alas not. Hopefully the ability to exclude securities from the tax schedule report and the portfolio realized gain window can be addressed in future updates.

Thank you

Steven

@jlgg: I believe my portfolio works exactly the same way yours does (a MM sweep account), but I am not experiencing the problem you are with the tax report. I also have that sweep account set up as a security. One possible difference: all the interest earned in that "sweep security" is categorized as "*INT INC NT" since it is non-taxable. Same for you?

jlgg

@Steven: Actually I have three accounts in my portfolio. One is a taxable account, the others nontaxable retirement accounts. The Money Market interest is taxable in the taxable account and appears correctly in the tax report under Schedule B. I exclude the two nontaxable accounts from the report to avoid their interest from appearing. However I just realized that after this update, having the tax free flag checked did remove the taxable interest payments from the tax report. That is not what I wanted, so I unchecked the box and the taxable interest payments reappeared as they should and have in the past. So thanks for pointing me in that direction.

The problem I was addressing was that in the taxable account in my portfolio, all the sweep transactions show up in the tax report Schedule D as well as the realized gain section of the portfolio as taxable transactions with a net capital gain of $0.
This doesn't affect the report totals but since there are so many of them, it does obscure those transactions with actual taxable capital gains or losses.

In Quicken 2007, there is a separate Capital Gains report in which I can exclude the money market security and avoid the problem.

Thank you for your reply.

jlgg

@Steven: Thanks Steven. I just tried to add an attachment to my reply and ended up deleting the original response to your post, so here goes try number 2.

I actually have 3 accounts in my brokerage portfolio. One is taxable, the other two nontaxable retirement accounts. The money market interest is taxable in the taxable account and appears in the tax report as interest under Schedule B. I exclude the two retirement accounts from the report so their interest does not appear. I believe that is correct.

My issue is with the sweep transactions appearing in Schedule D of the tax report, and in the realized gain window of the portfolio. Since they generate $0 capital gains, I would rather they could be hidden and not obscure those transactions that have actual gains or losses.

In Quicken 2007, the capital gains are reported in a separate report from the tax report, and the money market security can be excluded.

Thanks for your response, and sorry for the confusion.

jacobs

Steven said:

Received an update message this morning, but did not have time to install before running the morning's processing. Want to update now, but cannot find a link to 5.12.1. How do I get the update? Recurring transaction and payee improvements alone will make it worthwhile for us.

@Steven Version 5.12 is still in staged release, meaning they only allow a certain number of people to download it at a time, as they wait to hear if people are running into significant problems that didn't turn up during internal or beta testing. If there are no significant problems, they allow more people to download, and then all people to download. right now, the spigot is turned off; try again tomorrow or the next day and it will likely allow you to update. (If it doesn't it's because they have uncovered a bug or two that they have decided to fix before allowing others to switch to the new version.)

Concordman

IMHO don’t think your missing anything, the Quicken folks seemed to think some users would want to know the actual amount of the reinvested dividends,  o biggie one way or the other for me, you can always delete the column if you don’t want to see it

Quicken Marcus

Robert Galley said:

Applied V5.12 today. I have 6 years of data and the file conversion completed in seconds. After pulling in my account transactions I walked thru new payee and reporting features: these will save me lots of time. Comparative reporting is very handy for research and budgeting: all results checked out and cross-footed. I appreciate the Adjust Account Balance feature not just for active accounts but for assets as they grow or decrease in value. Help access to new features and Release Notes minimizes tracking them down. Though I still have some outstanding issues I'm waiting on, this looked clean for me and with significant added value. Thank you!

Robert, thanks for taking the time to let the community know that the update, at least for now, has gone well.  This is important to add to the conversation because the forums, for the most part, are filled with only the issues leading to the perception that everything is broken when that's not true.

Quicken Marcus

lemme14 said:

I am excited for the update, but it seems there is a cashflow bug. After I updated, I noticed that my projected balance for my checking account drops substantially around the first of the year (Jan 2020). After some investigation, it appears that our two bi-weekly paychecks skip the first deposit in the new year. So it basically goes from December 20 to January 17, skipping January 3. I tried changing manually to another interval and then changing back but it still has the same error.

lemme14, thanks for reporting this issue and working with us to reproduce the problem.  There does appear to be an odd scheduled transaction bug that occurs between December and January when setting the schedule to be bi-weekly and possibly having the starting date at the end of the month.  We're starting to investigate.

James Sapp

The show/hide column is not working for Investment accounts on my version, 5.12.1. See my earlier comment. It works for other accounts, banking, property, debts, etc. Any fix planned for this? I quit QMac and restarted but no change. Haven't rebooted my Mac. Maybe that will fix the issue. I'll try.

James Sapp

I rebooted and installed 5.12.2. This issue with show/hide column is still not working for Investment type accounts.

James Sapp

Transaction view. When I click on the hide/show column icon, it instantaneously displays for a nanosecond and disappears. Works fine for other types of accounts.

James Sapp

Hide/show column is at the bottom of the transaction view and allow you to control what columns are visible.

James Sapp

RickO
Tried your suggestion without success. Earlier I rebooted the computer and when it came back on line a new version of QM was available, 5.12.2, which I installed. This did not resolve the problem. As I said earlier, the show/hide feature works on other types of accounts.

Concordman

Just downloaded 5.12.2; not experienced what must be quite frustrating for @James Sapp. James do you still have a copy of 5.11 on your computer (check your trash can)? If you do, you might want to reinstall it ,make sure all is working properly than update to 5.12.2 again.
I realize this is a bit painful but that's where my thinking takes me.

James Sapp

Yes, there is a copy in the trash. I removed it from the trash and tried to open a 5.11 file but Quicken stopped responding and I had to force quit it. I tried to open the latest version, 5.12.2 and it stops responding and have to to force quit. How to I get QM to run again?

James Sapp

I got it to run again as 5.12.2. How to I get by to 5.11.2? It was in the trash and I moved it to the desktop to try to run it but it hangs up.

nkelesh

I'm on 5.12.2 and under Bills & Income, all bill amounts are now showing total account balance rather than amount to be paid. This is throwing off the projected balance graph. In previous version, you could enter the amount to be paid in details page and it would stick. Now if you edit the instance and enter an amount it has no impact.

Concordman

See if you can delete 5.12.2 off your machine. Move 5.11.2 to your applications folder. 

Cannot run a 5.11 data file on 5.12.2. you have to get back to running 5.11.2, use your latest and greatest 5.11.2 backup to make sure the data is correct.

Do you have something like  App-cleaner to remove all the components of 5.12.2?

when you completely removed 5.12.2 & you have 5.11.2 running correctly, try to do the 5.12.2 update

James Sapp

I can try. Will it open the current working file or do I need to open a backup file?
Since updating to 5.12.2, I have downloaded updates to many of my accounts.

James Sapp

It's getting late for me so I'll try this tomorrow. Thanks for the help

Concordman

Not to worry..When you open the 5.11.2 program restore the latest & greatest backup data file you have. make sure all is as it should be before you updated to 5.12.2. 

You will need to repeat the latest downloads again into 5.12.2. 

Check to make sure the problem went away before taking the time to do any downloads.

let us know how it goes tomorrow when your done

jacobs

@""James Sapp"
(1) I've tried to reproduce the problem you're describing, but I can't replicate it. What version of macOS are you running? What model Mac? I ask because there was a recent problem which the developers traced to a specific graphics card in some Macs, as unlikely as that would seem.

(2) To use the 5.11.2 version you pulled out of the trash, you'll need to go back to a backup of your data file from prior to your first use of 5.12.x. Because 5.12 makes changes to the database, you can't use 5.11.2 on any data file which has been opened in 5.12 and converted to the 5.12 format.

DrGForce

Thank you so much for the renaming rules. I can finally clean up my payees.

I see there is also a feature to define payees that you don't want renamed. How do you do this? I didn't see the option anywhere, including the payees and rules window. Thanks.

James Sapp

Follow up. I deleted QM 5.12.2 and reinstalled 5.11.2 and restored from the last 5.11.2 backup. The show/hide feature for investment now works. I am going to wait a few days to see if there is an update to to 5.12.2.

Concordman

Glad you got it back working; while I’m no expert , suspect that you may have been the recipient of file corruption during the update. I had no issues after upgrading to 5.12.2  but certainly understand your hesitation going forward with the update at this time.

if I may offer up a suggestion; whenever QM has updates take the deleted version that QM puts In the trash & save it in the applications folder for situations such as you just experienced. If you have concerns about disk space you can  compress the file.

Concordman

@Jacobs, He had & now has it working again using 5.11.2. Can it still be a graphics card issue that is more sensitive with 5.12,2?  just curious 

jacobs

I have no idea. I wouldn’t have thought a specific graphics card could affect Quicken, but it apparently did in a recent obscure issue.

I think the next step is to re-download 5.12.2 and see if the problem recurs. If so, use the Report A Problem option on the Quicken Help menu; it’s obviously not a widespread problem, so the Quicken engineers may need to see this in action in order to track it down.

Concordman

Suspect it should not be a problem for him, I do understand the hesitant to go forward right away.

As long as he has an avenue to get back to 5.11.2 he should not worry