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Feature Request: Download Account Balances Only

I have several accounts that I would like to track in QFM, but the idea of downloading and editing every transaction for my mortgage, car loan, credit card, pension, 401K, IRA, money market, etc. makes me cringe! I am not interested in seeing every debit, credit, payment and transaction fee along the way, but I would like the option to connect those accounts and have QFM download and display only the balance. If I need to see individual transactions (rarely), I can log into that specific account to view.
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  • jacobsjacobs SuperUser ✭✭✭✭✭
    Well, that's not the way Quicken works at all. There are other online-only personal finance tools you might consider which simply log onto your accounts to update account balances.

    For what it's worth, if you set up the accounts, and assuming Quicken's connectivity with each financial institution is working properly, you shouldn't need to do any significant work to edit the data downloaded for those accounts: press a button to receive the transactions, and you're done. Yes, it sometimes requires going a little deeper if you have unusual transactions in your investment and loan accounts, but you typically shouldn't need to touch those accounts. You mention credit card accounts, and there, typically, people do want to review and edit transactions to make sure they track expenses in categories that are meaningful to them -- but if all you want is to know your credit card balance, and the balances of your other accounts, you might be better using a different tool than Quicken.
    QMac 2007 & QMac Subscription • Quicken user since 1993
  • CasablancaCasablanca Member ✭✭
    @jacobs...Thanks for the response and your comments. However, I posted this as a "feature request" for the "option" to download balances only. I have tried many other other personal finance tools both online and desktop versions for many years. None have the option to selectively download balances only vs. downloading the entire transaction database. I would have thought that by 2020 a software developer would have figured out a way to add this as an option.
  • jacobsjacobs SuperUser ✭✭✭✭✭
    @Casablanca  Quicken displays account totals based on what's in its internal database of transactions. So doing what you're asking for would require a fundamental reworking of Quicken. I'm sure it could be developed to log into every account and simply display a balance, but the entire Quicken user interface -- based on transaction registers and reports -- would need to be completely changed to simply be a "dashboard" of account balances. I also envision some potential problems with the utility of such an account balance-only interface, since you wouldn't know what transactions have cleared/been included in the totals you'd be seeing at any given time.

    My comment about whether you might find other tools would suit you better was only because I don't see this as something likely to be coming as a Quicken feature in the near future.  But upon thinking about it, I think all the personal finance platforms download transactions from your financial institutions, since most people want to either understand their spending patters, or budget for future spending, or analyze their investments -- all of which requires a history of transactions, not just a snapshot of account balances.)

    In any case, my intent was not to disparage your idea request; I was only trying to explain why I didn't think it was likely to be acted on.
    QMac 2007 & QMac Subscription • Quicken user since 1993
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