When, if ever, will one step update be available on Quicken on the Web?

Bill B

I've been using Quicken since 1995 and like most of the new features but was wondering if Transaction download and one step update will ever be available on Quicken on the Web. I think it would be a great time saving feature if possible.

Chris_QPW

Just out of curiosity I decided to looking into the review/reconcile procedure for Quicken Web.

First let me give a quick review of the difference between "automatic transaction entry mode" and when you aren't using it.  With it off you basically review a transaction at a time in the Downloaded Transactions tab and then accept that transaction into the register.

With it on the process is that all the transactions go right into the register, but are marked as new in the status column.  You then review them to make sure the categories are right and if needed matched to the right existing transactions.  You mark them "reviewed" (clear new status) by clicking on the New status and selecting "Reviewed".

Reconciling works the same way in both modes except that you should never use automatic reconcile mode.  The reason is that reconcile lines up amounts, it doesn't care about the categories.  Once a transaction is reconcile the New status is cleared so you can't do the review after a reconcile, it has to be before the reconcile.

BTW personally I don't actually mark my transactions reviewed.  Instead I review them (by scanning them, but on actually changing their status) and then I reconcile to the online balance and it marks them all "reviewed".

So on the Desktop this looks like:

Here it is on Quicken Web (I have indicated the status/reviewed column)

BTW note the "Uncategorized" is caused by the fact that I didn't sync the "Synchrony Bank" account.  This is just a small test case.  I really have no reason to use Quicken Web/Mobile, and I don't want to take the risk of it messing up my real data file.

Here I have marked one transaction reviewed on the Web.

After a sync to from Quicken Desktop.

Now for the reconcile done on Quicken Web (for a checking account).

After completing the reconcile (partial screen grab).

Note the R's.  Interesting enough on Quicken Web it doesn't mark transactions reviewed when it marks them reconciled.  I'm going to sync and see what shows up on Quicken Desktop.

So Quicken Desktop has the transactions reviewed (status column cleared of the New).

So a bit of inconsistency between them there.  BTW in retrospect I should have sorted the two the same way. 

Chris_QPW

Quicken Web has had "One Step Update" from day one.  But note that Quicken Web isn't independent of Quicken Desktop, so you can't just use Quicken Web by itself.

First off Quicken Web will run at least one update each day and download transactions from your financial institution into its data on the Quicken server.  It will also update when you log in.  Whats more there is a button on Quicken Web to start a sync.

Bill B

In other words, if I'm traveling with my laptop, and open Quicken on the Web all my transactions from my accounts will download and reconcile as if it were on my desktop in Quicken?

NotACPA

Not really.  Because Q Web only supports about the last 2 years of transactions and there are certain account types (in Q  Desktop) that can't be uploaded.

GeoffG

No not exactly. The sync is with the cloud file, not your desktop. If you want to handle transaction downloads and reconcile, you are far better off remote accessing into your desktop.

Chris_QPW

Well if you believe the Quicken Inc CEO he does all of his reconciling with Quicken Web so it is certainly possible.  And I personally don't see why anyone couldn't reconcile with 2 years+ of transactions.  Note how much is in the cloud depends on a few factors.

The first sync is 2 years, but they don't delete data.  So in theory you could have a lot more up there over time.  That is provided that you don't run into problems and have to delete/recreate the cloud data.

Chris_QPW

P.S. on the reconcile.  Note there isn't any "Downloaded Transactions tab".  Downloading and reconciling on Quicken Web has a process more like when you use "automatic transaction entry mode" on Quicken Windows (Quicken Mac only uses this mode).

Bill B

Do only cleared transactions download or do all pending and cleared transactions download?

Chris_QPW

Just out of curiosity I decided to looking into the review/reconcile procedure for Quicken Web.

First let me give a quick review of the difference between "automatic transaction entry mode" and when you aren't using it.  With it off you basically review a transaction at a time in the Downloaded Transactions tab and then accept that transaction into the register.

With it on the process is that all the transactions go right into the register, but are marked as new in the status column.  You then review them to make sure the categories are right and if needed matched to the right existing transactions.  You mark them "reviewed" (clear new status) by clicking on the New status and selecting "Reviewed".

Reconciling works the same way in both modes except that you should never use automatic reconcile mode.  The reason is that reconcile lines up amounts, it doesn't care about the categories.  Once a transaction is reconcile the New status is cleared so you can't do the review after a reconcile, it has to be before the reconcile.

BTW personally I don't actually mark my transactions reviewed.  Instead I review them (by scanning them, but on actually changing their status) and then I reconcile to the online balance and it marks them all "reviewed".

So on the Desktop this looks like:

Here it is on Quicken Web (I have indicated the status/reviewed column)

BTW note the "Uncategorized" is caused by the fact that I didn't sync the "Synchrony Bank" account.  This is just a small test case.  I really have no reason to use Quicken Web/Mobile, and I don't want to take the risk of it messing up my real data file.

Here I have marked one transaction reviewed on the Web.

After a sync to from Quicken Desktop.

Now for the reconcile done on Quicken Web (for a checking account).

After completing the reconcile (partial screen grab).

Note the R's.  Interesting enough on Quicken Web it doesn't mark transactions reviewed when it marks them reconciled.  I'm going to sync and see what shows up on Quicken Desktop.

So Quicken Desktop has the transactions reviewed (status column cleared of the New).

So a bit of inconsistency between them there.  BTW in retrospect I should have sorted the two the same way. 

Bill B

Thanks for the insight, I learned something today